There are many available OC insurance options. With many coverage options available, it can be difficult to find the right one for your home. Here is a breakdown of the top three homeowners insurance coverages to help you choose the coverage that’s best for you.
1. Basic Form (HO-1)
A basic homeowners insurance policy that protects against incidents including, but not limited to, fire and smoke, explosions, lightning, vandalism, and theft. It typically does not cover floods and earthquakes, and any items you want covered inside your home must be specified when you purchase your policy.
2. Broad Form (HO-2)
In addition to the incidents covered in HO-1, it also covers damage caused by falling objects, weight of ice, snow or sleet, freezing HVAC systems, accidental water overflow, and more. Broad form usually also covers your belongings and can sometimes your personal liability as well if someone gets hurt in your home.
3. Special Form (HO-3)
It is the most common type of home insurance because of its flexibility and affordability. Your exact coverage is policy-specific and can include coverages for you home, belongings, structures attached to your home as well as personal liability.
Don’t be confused by all the OC insurance options. Use this simple guide to support your research in finding the right policy for your home.