Homeowners Insurance

The coverage you have depends upon the type of policy you have. Unlike auto insurance, where the policies are pretty much the same, homeowners policies can be quite different, depending on the "form" number. The most common types of homeowner policies are:

1. HO1 Basic or Standard policy
2. HO2 Broad form
3. HO3 Special (also called Deluxe, All Risk)
4. HO4 Renters policy
5. HO6 Condo policy
6. HO8 Older Home Policy

All homeowner policies are "package" policies. You get a group of coverages packaged into your policy for one overall premium. They include coverage on your building, your contents (furniture, clothing, etc.) and liability insurance in case you are sued, under the same policy. The property coverage is shown under Section 1, while the liability coverage is described under Section 2.