What type of coverage does HO-5 provide?

HO-5 policies, also known as the Comprehensive form of homeowners insurance, provide a broad range of coverage that includes protection against all risks, except those specifically excluded in the policy. This means that unless a peril is expressly stated as excluded, it is covered, making it one of the most inclusive types of homeowners insurance available.

This coverage typically extends to both the dwelling and personal property, offering robust protection for homeowners. For example, if a homeowner experiences loss or damage from theft, fire, or even less common perils like falling objects or sudden accidental water damage, these would be covered under an HO-5 policy, as long as they are not listed as exclusions.

In contrast, other policy types like Basic Coverage or Named Perils Coverage have more limited protections, which only cover specific risks or perils listed in the policy, leading to potential gaps in coverage. Special Coverage, while it might seem similar in its expansive nature, generally refers to specific additional conditions that might not be as comprehensive as the all-risk approach of an HO-5 policy. Therefore, choosing HO-5 for comprehensive coverage provides homeowners with peace of mind, knowing they are well-protected against a wide range of potential hazards.