HO3 Homeowners Insurance Special Form Policy

HO3 Home Insurance, also called Special form Policy and is often referred to as Standard Homeowners insurance. This policy protects homeowners from unexpected damage to the house, other structures, and personal properties from disasters. It can also save them from any legal casualties like medical expenses if accidents occur in their houses.

Furthermore, the HO3 policy can help homeowners pay the cost to repair their neighbor’s property. For example, a strong wind comes and any part of the house hits the neighbor’s window. Additionally, HO3 can help pay the additional living expenses. It includes hotel bills, groceries, fuels, and other living expenses when the house is under repair or unlivable after damage.

It could be very inconvenient and unsafe for homeowners if there will be riots, lightning, or robbery. These unforeseen events will happen unexpectedly for homeowners. However, with the help of Homeowners insurance, it will provide them the information needed as to how the coverage works. Also, it can be very reliable where expenses and damages will not cause a big problem eventually. In addition to that, it is surprising to know how homeowners insurance works.

how does ho3 homeowners
insurance policy work?

Seemingly, homeowners will invest more for their safety and the safety of their loved ones. Besides, having home insurance is a good plan that gives assurance to the homeowners. Knowing that natural disasters can happen anytime, investing in Home Insurance can be the best thing to do. Anytime, explosions or any disaster may occur, and it’s surprising to know how Homeowner’s Policy can provide the help needed.

HO3 is like a package that protects homeowners in a broad and different range of unpredictable situations. Further, HO3 can repair and replace the damage to the structure of the house and house content caused by risk occurrences. The policy includes other house structures, buildings like detached garage, fences, sheds, pools.

what does ho3 homeowners
insurance policy cover?

HO3 Policy covers both property damage and liabilities like injuries and damage to property of other’s assets. The Policy has plenty of coverage depending on the insurance company and the insurance coverage in agreement with them.    

Below are the following coverages that HO3 Policy typically offer:


Coverage A – Dwelling
Dwelling covers the structure of the house and the cost of repair and replacement of the building. It covers the fixed interior and exterior aspects of your home against damage.

Coverage B – Other Structures
Other Structures cover detached properties like sheds, fences, dog houses, etc. It also covers the cost of rebuilding or repairing structures caused by peril.

Coverage C – Personal Property
Personal Property covers personal assets like furniture, appliances including clothes, gadgets, etc. However, the coverage for a Personal Property depends on the insurance provider.

Coverage D – Loss of use
Loss of use or Additional living expenses reimburses expenses if the house is under repair, including transportation, hotel, food, etc. This coverage helps maintain a normal lifestyle in the event of a disaster.

Coverage E – Personal Liability
Personal Liability pays legal expenses if one is responsible for  the injury or damage to property of others. This type of insurance coverage can protect homeowners in different  situations where a lawsuit is filed.

Coverage F – Medical Payment
Medical Payment to others pays medical bills if a guest gets others injured during a stay at home. This coverage applies to all regardless of who’s at fault.

what perils does a ho3
homeowners insurance
policy cover ?

There are two types of perils which are the Open Peril and Named Peril. Peril refers to losses and causes of property damage. Open Peril does not typically limit the damage taken of your house. However, the damage or loss of your personal belongings is a different take for HO3. Whereas, Named Peril covers mostly 16 Perils listed in your policy. Below is the standard list of named perils on the HO3 insurance policy:

  • Explosion 
  • Aircraft
  • Theft
  • Vehicles
  • Freezing
  • Volcanic eruption
  • Smoke  
  • Riot or civil commotion
  • Fire or lightning
  • Weight of ice, sleet, or snow
  • Windstorm or hail
  • Vandalism and malicious mischief
  • Power surges
  • Sudden and accidental damage to water heater or HVAC
  • Falling objects
  • Accidental discharge or overflow of water

  • Additionally, one of the ideal things to do is make sure that you know the full coverage of the HO3 Policy. It helps you to recognize if it covers all personal properties or not. In that matter, you can speak to one of our insurance agents and ask them for a detailed list.

    what is the difference
    between ho3 and ho5 ?

    There are two types of perils which are the Open Peril and Named Peril. Peril refers to losses and causes of property damage. Open Peril does not typically limit the damage taken of your house. However, the damage or loss of your personal belongings is a different take for HO3. Whereas, Named Peril covers mostly 16 Perils listed in your policy. Below is the standard list of named perils on the HO3 insurance policy:

    HO3 HO5
    Structure of House Open peril Open peril
    Personal Property Named Peril Open Peril
    Replacement Actual Cash Value Replacement Cost
    Standard Premium
    Homeowners’ Insurance policy or HO3 may be one of the good options out there if one is planning to get the best investment for their house. Learning the process of Homeowners Insurance Policy can be complicated, but it can be beneficial in the long run. Moreover, it can help homeowners to know what’s the right coverage for their house.

    In the HO3 policy, you will receive coverage on an all-risks basis. It is a package that covers almost everything of your possessions. If you have any questions about your Homeowners Insurance Special Form Coverage policy, contact us today to speak to our experienced local insurance agents. Get a Homeowners Insurance Quote for Free.