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
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.