The HO forms compared
| Form | Name | Who it’s for | Dwelling | Personal property |
|---|---|---|---|---|
| HO-1 | Basic Form | Rarely sold today | Limited named perils | Limited named perils |
| HO-2 | Broad Form | Owner-occupied homes | Named perils | Named perils |
| HO-3 | Special Form | The most common homeowners policy | Open perils | Named perils |
| HO-4 | Contents Broad Form | Renters | — | Named perils |
| HO-5 | Comprehensive Form | Newer or higher-value homes | Open perils | Open perils |
| HO-6 | Unit-Owners Form | Condo and co-op owners | Interior and improvements | Named perils |
| HO-8 | Modified Coverage | Older homes where replacement cost far exceeds market value | Limited named perils, often actual cash value | Limited named perils |
Open perils vs. named perils
Named perils coverage pays only for losses caused by the perils listed in the policy — fire, windstorm, accidental discharge of water and so on. If the cause isn’t on the list, it isn’t covered. See the named perils explained.
Open perils (sometimes called “all risks”) coverage pays for any cause of loss unless it is specifically excluded. The exclusions — flood, earth movement, wear and tear, neglect, mold, sewer backup and others — become the important part to read.
Under named perils, you generally need to show the loss was caused by a listed peril. Under open perils, the insurer generally needs to show an exclusion applies. That’s a meaningful difference when a claim is disputed.
The parts of a homeowners policy
| Section | What it covers |
|---|---|
| Coverage A — Dwelling | The house and attached structures |
| Coverage B — Other structures | Detached garages, fences, sheds |
| Coverage C — Personal property | Your belongings |
| Coverage D — Loss of use | Additional living expenses while you can’t live at home |
| Coverage E — Personal liability | Claims against you for injury or damage to others |
| Coverage F — Medical payments | Minor medical bills for guests injured on your property |
Also look at the declarations page (limits, deductibles, endorsements), the exclusions section and any endorsements such as water backup, scheduled jewelry or ordinance-or-law coverage.
Which form do you have?
Your declarations page names the form. For water and fire losses, ask two questions: Is my dwelling coverage open or named perils? And do I have a water/sewer backup endorsement and, if needed, separate flood coverage? In California, also ask about earthquake coverage, which requires a separate policy.
General information only, not legal or insurance advice. Forms and wording differ between carriers and states.