Most Common Types of Homeowners Insurance Policies You Must Know

Types of homeowners insurance policy to know

Most Common Types of Homeowners Insurance Policies You Must Know

Choosing the right homeowners insurance policy can be overwhelming. Each policy has its own set of coverage limits and exclusions, and it can be difficult to understand which one is the best for your needs. That’s why it’s important to understand the different types of homeowners insurance policies. Let’s discuss the most common types of homeowners insurance policies here.

8 Types of Homeowners Insurance

Every type of homeowners insurance policy offers a different level of coverage. Here are the 8 most common ones:

  1. HO-1 Insurance

    HO-1 insurance, also known as Basic Form Homeowners Insurance, is the most basic type of homeowners insurance policy. It provides coverage for 10 named perils, including fire and lightning, windstorms or hail, explosions, riots, civil commotion, aircraft, vehicles, smoke, vandalism, theft, and volcanic eruption. This policy excludes damages from floods, earthquakes, or other natural disasters.

  2. HO-2 Insurance

    Broad Form Homeowners Insurance, also known as HO-2 insurance, provides coverage for the same 10 perils as HO-1 insurance, plus additional coverage for other types of damages, such as frozen plumbing, falling objects, and accidental water discharge from within the home. This policy does not cover damage from floods, earthquakes, or other natural disasters.

  3. HO-3 Insurance

    Special Form Homeowners Insurance or HO-3 insurance is the most common type of homeowners insurance policy. It provides coverage for all perils except those specifically excluded in the policy. This type of policy is the only one that covers both the dwelling and the personal property inside the home. It also includes personal liability coverage, which protects you if someone is injured on your property.

  4. HO-4 Insurance

    Also known as Tenant’s Form Homeowners Insurance, it is designed for people who rent their homes. It provides coverage for your personal property, as well as personal liability coverage. It does not cover the dwelling, so it is important to check with your landlord to make sure that the dwelling is covered by their policy.

  5. HO-5 Insurance

    HO-5 insurance, or Comprehensive Form Homeowners Insurance, is one of the most expensive but the most comprehensive homeowners insurance policy. It covers all perils except those specifically excluded in the policy, and it also includes replacement cost coverage for your personal property.

  6. HO-6 Insurance

    HO-6 insurance or the Condominium Form Homeowners Insurance is designed for people who own a condominium. It provides coverage for your personal property, as well as personal liability coverage. It does not cover the building, so it is important to check with your condominium association to make sure that the building is covered by this policy.

  7. HO-7 Insurance

    HO-7 insurance, also known as Mobile Homeowners Insurance, is for people who own a mobile home. It provides coverage for your personal property, as well as personal liability coverage. It does not cover the mobile home, so it is important to check with your mobile home park to make sure that your mobile home is covered by their policy.

  8. HO-8 Insurance

    Also called Older Homeowners Insurance, this policy is designed for people who own an older home. It provides coverage for your personal property, as well as personal liability coverage. Just like HO-4 insurance, it does not cover the dwelling, so it is important to check with your insurance agent to make sure that the dwelling is covered by their policy.

Contact Club Agency to Cover Your Home Today!

If you’re looking for homeowners insurance, Club Agency can help. Our experienced agents will work with you to find the policy that fits your budget and provides the best financial protection for your home and belongings. Contact us today to get started.



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At RMS and associated firms, business continues as usual. Our staff is remote-capable and available to handle all partners, brokers, and insureds at the present time. Contact us today!Executive Order for Policyholder Payments