There are several forms of homeowner insurance available to homeowners. Here are some of the most common types:
1. HO-1 Basic Form: This is the most basic and limited form of homeowner insurance. It provides coverage for a limited number of perils, such as fire, lightning, and vandalism.
2. HO-2 Broad Form: This form of insurance provides coverage for a wider range of perils compared to HO-1. It typically includes coverage for perils such as theft, falling objects, and damage from the weight of ice, snow, or sleet.
3. HO-3 Special Form: This is the most common form of homeowner insurance. It provides coverage for a wide range of perils, except for those specifically excluded in the policy. It typically covers the dwelling, other structures on the property, personal property, and liability.
4. HO-4 Renter's Insurance: This form of insurance is designed for renters rather than homeowners. It provides coverage for personal property and liability, but does not cover the dwelling or other structures.
5. HO-5 Comprehensive Form: This form of insurance provides the broadest coverage for both the dwelling and personal property. It typically includes coverage for all perils, except for those specifically excluded in the policy.
6. HO-6 Condo Insurance: This form of insurance is specifically designed for condominium owners. It provides coverage for personal property, liability, and improvements made to the unit, but does not cover the building itself.
7. HO-8 Older Home Insurance: This form of insurance is designed for older homes that may not meet the replacement cost requirements of other forms of insurance. It provides coverage based on the actual cash value of the home, rather than the replacement cost.
It's important to note that the availability of these forms of homeowner insurance may vary depending on the insurance provider and the state in which you live. It's always a good idea to consult with an insurance agent or broker to determine the best type of coverage for your specific needs and circumstances.