What Is Ho9 Insurance Form

Broad form policies only cover named perils if the peril isn t explicitly stated on your policy then you won t be covered.

What is ho9 insurance form. Different types of homeowner s insurance policy forms. Ho 4 and ho 6 only cover belongings and only for the types of damage specifically listed on the policy. In a condo or co op the buildings will be covered by the insurance the board purchases for the. Some insurance carriers ex.

This insurance policy form is designed to cover the common property of complexes where one or more buildings have tenants that own their unit. Ho 1 is a basic policy which provides coverage of about 11 perils. Travelers insurance will write a co op on the ho 9 form which is similar to the ho 6. Each form of homeowners insurance is intended for different property types and coverage needs the ho 3 policy is the most common form of homeowners insurance when you imagine the kind of property that needs homeowners insurance a single family dwelling in the suburbs might come to mind but there are actually eight policy types or forms.

6 damages means compensatory damages the insured is legally obligated to pay as a result of bodily injury or property damage covered by this insurance but does not include punitive exemplary or multiple damages. Not covered by this additional insurance unless it is the direct result of collapse. 2 aircraft means any conveyance used or. Since the needs of every homeowners association are different these policies can vary greatly.

This policy is rather limited and it won t cover the protection of your property or other belongings. Hoa homeowners association insurance. Those include fire lightning windstorm hail as well as an explosion riots and other events. Ho 3 special form the most common type of homeowners insurance is the ho 3 policy.

Ho 7 mobile home form the mobile home form is similar to the ho 3 form but provides protection for mobile and manufactured homes. An ho 3 offers open peril coverage for the structure of your home this means your policy will help pay for repairs if your home. Ho 2 policies will cover your personal property and in some cases personal liability.