Homeowners Insurance Form 3

It covers all of the perils mentioned in the ho 1 and ho 2 policies and then goes even further.

Homeowners insurance form 3. Also referred to as the homeowners policy special form 3 an ho 3 is the form or template behind most standard homeowners insurance policies. Definition homeowners policy special form 3 ho 3 part of the insurance services office inc. Employee means an employee of an in sured or an employee leased to an insured by a labor leasing firm under an agreement. An ho 3 offers open peril coverage for the structure of your home.

Your ho 3 policy form is essentially the insurance manual that breaks down how each of the six coverages in your policy work. Also known as the special form homeowners policy it provides excellent coverage for your house as well as your personal property. Home enhancement coverage expanded enhancement coverage extended enhancement coverage land na na na up to 10 000 to replace stabilize or rebuild the land necessary to support the dwelling or other structure as a result of a covered loss. Special form you will find the ho 3 or the special form policy to be the most common type of homeowners insurance.

Iso homeowners forms portfolio the ho 3 insures the described owner occupied dwelling private structures in connection with the dwelling unscheduled personal property on and away from the premises and loss of use. What separates an ho 3 from policies with more limited coverage such as ho 1 and ho 2 policies is that your dwelling will be covered for all perils unless they are specifically detailed as exclusions. Ho 3 designates a special form homeowners insurance policy that provides insurance coverage for the structure of your home on an open peril basis. This is add l insurance and no deductible applies reward coverage na na na 2 500 leading to the arrest.

Also called a homeowners policy special form an ho 3 policy is the most common type of home insurance form on the market. It also details which perils are covered and which aren t covered. Or 4 the rendering of home day care serv ices to a relative of an insured. Sometimes called an extended or special homeowners insurance policy form the ho 3 covers almost any peril except those specifically excluded such as earthquake flood landslide or mudslide nuclear accident and sinkholes.

As we said the ho 3 home insurance policy is the most commonly purchased home insurance policy because the policy encompasses all the coverage that most homeowners need. 3 providing home day care services for which no compensation is received other than the mutual exchange of such services. It is most used because it has large range of coverage and some of the most affordable premiums.