The HO-8 form, or modified coverage form, is designed for older or historically significant homes that may not qualify for standard policies due to their replacement cost exceeding market value. It provides named peril coverage for the dwelling and personal property and reimburses losses on an actual cash value basis rather than replacement cost. This policy is ideal for preserving older homes while offering essential protection at a more affordable rate.
HO-8 POLICY TYPE: Named Peril
HO-8 DWELLING COVERAGE: Actual Cash Value (ACV)
HO-8 PERSONAL PROPERTY COVERAGE: Actual Cash Value (ACV)
WHO IS THE HO-8 FORM FOR? The HO-8 policy is designed for older homes generally made prior to 1950 or those constructed with aluminum wiring, significantly outdated plumbing, or other factors that impact replacement or repair costs under modern building codes. Historical landmarks are often placed under this policy.
