A package policy combines two or more separate coverages, such as property and liability insurance, into a single policy.
Under HO 3 the Policy Covers:
- The homeowners insurance policy covers:
- the dwelling under Coverage A
- other structures under Coverage B
- personal property under Coverage C
- loss of use under Coverage D
HO 3 Exclusions
- ordinance or law
- earth movement
- water damage
- power failure
- nuclear hazard
- intentional loss
- governmental action
- HO 2 Insures the dwelling, other structures, and personal property on a named perils basis.
- HO 3 (Most Popular) Dwelling and other structures on an open perils and personal property on named perils.
- HO 4 (Tenant's Policy) Personal property on named perils. No dwelling or other structure coverage.
- HO 5 Insures the dwelling, other structures, and personal property on open perils.
- HO 6 (Condominiums) Personal property on named perils and limited dwelling coverage.
- HO 8 Insures older homes hen the replacement cost of a house may substantially exceed its market value, insures the dwelling and other structures based on the amount required to repair or replace the property using common construction materials and methods.