Which HO form provides open-peril coverage for the dwelling and other structures?

Which HO form provides open-peril coverage for the dwelling and other structures?

• A. HO-1
• B. HO-2
• C. HO-3 Special Form
• D. HO-4

Answer: (C)

Open-peril coverage means losses are covered for almost any direct physical damage unless a specific exclusion applies. The form that provides this broad protection for the dwelling and other structures is the HO-3 Special Form. It covers the dwelling and other structures on an open-peril basis, so a wide range of causes of loss are covered, with the specific exclusions spelled out in the policy. Personal property inside the home is covered on a named-peril basis under this form, meaning belongings are protected only for the perils listed in the policy. Other homeowner forms either cover the dwelling only for listed perils or are designed for renters, so they don’t match the open-peril protection for dwelling and other structures that HO-3 provides.

Open-peril coverage means losses are covered for almost any direct physical damage unless a specific exclusion applies. The form that provides this broad protection for the dwelling and other structures is the HO-3 Special Form. It covers the dwelling and other structures on an open-peril basis, so a wide range of causes of loss are covered, with the specific exclusions spelled out in the policy. Personal property inside the home is covered on a named-peril basis under this form, meaning belongings are protected only for the perils listed in the policy. Other homeowner forms either cover the dwelling only for listed perils or are designed for renters, so they don’t match the open-peril protection for dwelling and other structures that HO-3 provides.