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HO-3 home insurance policies cover your dwelling and other structures on your property under open perils coverage, and HO-5 policies cover both your home and personal property for open perils.
The various components of home insurance policies are covered either on a named perils basis or an open perils basis. In general, named perils will cover only perils, such as fire or wind ...
Key takeaways. The most common type of homeowners insurance policy is the standard HO-3 Special Form policy. HO-5 policies offer the broadest coverage of all policy types.
Homeowners insurance offers financial protection if your property is damaged by a covered peril. Home insurance usually covers your home's physical structure, other structures on your property and ...
Personal property coverage: This coverage makes up a large portion of your homeowners insurance and is designed to replace your home’s contents after a covered peril, including clothing ...
Damage caused from “the weight of ice and snow” is considered a named peril, and the resulting damage is often covered by homeowners insurance. Similarly, damage caused by ice dams along your ...
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