🕷️ Crawler Inspector

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1. Shard Calculation

Query:

Response:

Calculated Shard: 148 (from laksa113)

2. Crawled Status Check

Query:

curl -X POST \
  'http://laksa148.int.ahrefs:8124/' \
  -H 'Content-Type: text/plain' \
  -H 'X-ClickHouse-Database: crawler3' \
  -H 'Authorization: Basic YXBpOg==' \
  -d 'SELECT getAhrefsURLFromUnparsed(src_unparsed) AS found_url, ifNull(toUnixTimestamp(download_stamp), 0) AS crawl_time, ifNull(toUnixTimestamp(props_url_first_seen), 0) AS first_indexed_time, download_http_code AS http_code, src_unparsed AS src_unparsed, src_root_hash AS src_root_hash, history_drop_reason AS history_drop_reason, meta_title AS meta_title, meta_descriptions AS meta_descriptions, attrs_boilerpipe_text AS attrs_boilerpipe_text, attrs_markdown AS attrs_markdown, attrs_readable_markdown AS attrs_readable_markdown, meta_canonical AS meta_canonical FROM crawler3.page_info_local FINAL PREWHERE (src_root_hash, src_unparsed) IN ((getAhrefsRootHashFromUnparsed(getAhrefsUnparsedNoserviceFromURL(\'https://www.bankrate.com/insurance/homeowners-insurance/types-of-homeowners-insurance/\')), getAhrefsUnparsedNoserviceFromURL(\'https://www.bankrate.com/insurance/homeowners-insurance/types-of-homeowners-insurance/\'))) FORMAT JSONEachRow'

Response:

{"found_url":"https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/types-of-homeowners-insurance\/","crawl_time":1776363144,"first_indexed_time":1585239180,"http_code":200,"src_unparsed":"com,bankrate!www,\/insurance\/homeowners-insurance\/types-of-homeowners-insurance\/ s443","src_root_hash":"16841441868536461148","history_drop_reason":null,"meta_title":"Types of Homeowners Insurance | Bankrate","meta_descriptions":["Bankrate's full guide to the different types of homeowners insurance.","Bankrate's full guide to the different types of homeowners insurance."],"attrs_boilerpipe_text":"There are eight home insurance policy types to choose from. The type that’s best for you depends on whether you rent or own and the type of home you have.\nHO-1:\nThe most basic and limited form of homeowners insurance for single-family homes, this type does not include coverage for belongings and is rarely offered by insurers today.\nHO-2:\nA step up from an HO-1 policy, this policy type does include coverage for belongings, but in general offers fewer financial protections than an HO-3 policy.\nHO-3:\nThe most common homeowners insurance policy for single-family homes, this type offers broader financial protection for your structures and belongings against a wider range of risks.\nHO-4:\nKnown as renters insurance, this policy type covers personal property, liability, and tenant’s loss of use.\nHO-5:\nA highly comprehensive (and expensive) policy for single-family homes, this policy type provides the most extensive coverage available.\nHO-6:\nDesigned specifically for condo owners, this policy covers the interior structure from the studs in and personal belongings.\nHO-7:\nTailored for manufactured and mobile home owners, this policy type offers coverage similar to an HO-3 policy but for non-permanent structures.\nHO-8:\nA specialized policy for older or historic homes, this coverage types can step in where the cost to rebuild exceeds the home’s market value. \nHO–1 insurance\nAn HO-1 is the most basic homeowners insurance policy. It only provides coverage for the structure of your home, attached structures like garages and appliances and home features like carpeting. It does not include coverage for personal property, liability or additional living expenses. Because of those limitations, it is not as popular as more robust policy options.\nHO-1 insurance is a named perils policy, meaning it only covers your home in specific loss events, which typically include:\nDamage from aircrafts or vehicles\nExplosions\nFire and lightning\nHail and windstorms\nRiots\nSmoke\nTheft\nVandalism\nVolcanic eruption\nWith an HO-1 policy, your home, attached structures, appliances and home features will only be protected if they are damaged by one of the perils that is specifically listed in your policy. If they incur damage from anything else, you will need to pay for the repairs out of pocket, as any\nclaim filed\nfor uncovered losses would be denied by your home insurer. It is worth noting that an HO-1 policy does not include liability, loss of use coverage or medical payments coverage, which are part of standard home policies. Because coverage is so limited, many insurers do not write this type of policy.\nLearn more:\nHO-1 insurance\nHO–2 insurance\nAn HO-2 insurance policy is known as a broad form and covers your home and your personal belongings. Most\nhome insurance companies\nwill cover your personal belongings up to a specified level if they are at home, in your car or somewhere else, such as an offsite storage facility. HO-2 policies may include\nliability coverage\nin some circumstances. To determine if your HO-2 policy includes liability coverage, contact your insurance carrier directly.\nLike an HO-1 policy, HO-2 insurance is a named perils policy that covers your home and your personal items from the losses that are listed in your policy. Typically, the losses found in an HO-2 policy are similar to the ones in an HO-1, but may include a few additional ones:\nAccidental discharge or overflow of water or steam within the home\nA falling object\nFreezing of pipes and heating and air conditioning systems\nSudden and accidental damage from certain electrical currents\nTearing apart, burning, cracking from some household systems\nWeight from ice, snow or sleet\nLearn more:\nHO-2 insurance\nHO-3 insurance\nThe most common type of homeowners insurance is the HO-3 policy — accounting for more than 90 percent of all home policies written in the U.S. — which covers your home, your personal property, liability, additional living expenses and medical payments. Unlike an HO-1 and HO-2 policy, your home and attached structures are protected on an open-peril basis; they are protected from all kinds of losses except the ones that are specifically\nexcluded from your policy\n.\nPersonal finance and insurance expert\nLaura Adams\nsays, “An HO-3 is considered the standard coverage. It gives you ‘open perils’ coverage for your home structure, which protects you from all disasters unless the policy lists exceptions. However, you receive ‘named perils’ coverage for personal possessions, which applies to disasters named in the policy.”\nYour home and other structures typically have the following perils excluded:\nAny animals owned by the insured\nBirds, rodents, varmint\nDefective construction or maintenance\nEarth movement\nFlood\nFoundation issues\nGovernment actions\nIntentional loss\nMechanical breakdown\nMold, fungus, wet rot\nNeglect\nNuclear hazard\nOrdinance or law\nPet or animal damage\nPollution and corrosion\nPower failure\nSmog, rust, or corrosion\nTheft, vandalism and frozen pipes in vacant houses\nWear and tear\nWar and insurrection\nAlthough floods and earthquakes are not covered by a standard HO-3 policy, you may be able to get an endorsement or separate\nflood insurance\nor\nearthquake policy\nto meet these coverage needs.\nDamage from aircrafts or vehicles\nDamage from the weight of snow or ice\nDamages caused by an electrical current\nExplosions\nFalling objects\nFire and lightning\nHail and windstorms\nPipes freezing\nRiots\nSmoke\nTheft\nVandalism\nVolcanic eruptions\nWater damage from plumbing or HVAC overflow\nWater heater damage\nLearn more:\nHO-3 insurance\nHO–4 insurance\nAn HO-4 policy, also known as\nrenters insurance\n, is intended for renters who want to insure their personal belongings and get additional coverage, like liability and additional living expenses. An HO-4 is not technically a “homeowners” policy, as renters don’t own the property where they are living, which is why this policy type excludes coverage for the building’s structure, whether it is a single-family home or multi-family structure like an apartment building. Renters would need to purchase separate coverage for flood and earthquake damage.\nRenters insurance policies are usually named perils policies that cover the following events:\nDamage from aircrafts or vehicles\nDamage from the weight of snow or ice\nDamages caused by an electrical current\nExplosions\nFalling objects\nFire and lightning\nHail and windstorms\nPipes freezing\nRiots\nSmoke\nTheft\nVandalism\nVolcanic eruptions\nWater damage from plumbing or HVAC overflow\nWater heater damage\nLearn more:\nHO-4 insurance\nHO–5 insurance\nAn HO-5 policy is the most robust option available, covering your home, your personal belongings, liability, additional living expenses and medical payments for others. It typically covers personal possessions at replacement cost value versus actual cash value. These policies may also have higher coverage limits for personal possessions like jewelry compared to the more common\nHO-3 policy\n. However, not all home insurers offer HO-5 policies and not all homeowners will be able to purchase an HO-5 policy due to the strict qualification guidelines.\nTo get an HO-5 policy, your home typically needs to be newer construction, have higher than average replacement cost value, and\/or located in a low-risk area for natural disasters.\nAdams discusses how an HO-5 policy could be beneficial for individuals with high-value items. She says, “It typically costs more and may not be offered by every insurer, but could be worth it if you have many valuable possessions.”\nWith an HO-5 policy, your home and your personal items are both covered on an open perils basis. Some common exclusions include:\nEarth movement\nGovernment actions or laws\nInfestation of birds, rodents or insects\nIntentional loss\nMechanical breakdown\nMold\nNuclear hazard\nPets\nVandalism if the property is vacant more than two months\nWar and insurrection\nWater damages from floods or sewer backup\nBecause an HO-5 policy is written on an open perils basis rather than on a named perils basis, it covers more circumstances and can make it easier to get coverage when you file a claim. Because of its higher coverage limits for personal property, an HO-5 policy is usually more expensive than a standard HO-3.\nLearn more:\nHO-5 insurance\nHO–6 insurance\nHO-6 insurance is specifically for condo owners. These policies exclude the structure of the condo and anything else that would fall under the overarching policy for the condo facilities insurance policy. Instead, the HO-6 covers your belongings, some appliances and devices within the condo, personal liability and additional living expenses. The structure and features are generally covered under a master insurance policy written for the entire collection of condos and the surrounding property of common areas, such as pools, laundry rooms or social rooms. HOA fees are commonly charged to condo owners to help cover these collective, overarching insurance policies.\nIt is important to have enough coverage in your condo policy to not only pay off your mortgage, but to purchase a similar unit if your building is damaged or destroyed and you need to move elsewhere. For flood and earthquake coverage, separate coverage would need to be purchased.\nHO-6 policies are named perils policies that generally cover:\nDamage from aircrafts or vehicles\nDamage from the weight of snow or ice\nDamages caused by an electrical current\nExplosions\nFalling objects\nFire and lightning\nHail and windstorms\nPipes freezing\nRiots\nSmoke\nTheft\nVandalism\nVolcanic eruptions\nWater damage from plumbing or HVAC overflow\nWater heater damage\nLearn more:\nHO-6 insurance\nHO–7 insurance\nAn HO-7 insurance policy covers mobile or manufactured homes, including trailers, sectional homes, RVs and modular homes. This type of policy provides coverage for your home’s structure, your personal belongings, liability, additional living expenses and medical payments. Flood and earthquake coverage would need to be purchased separately.\nThe exterior of your home is covered under an open perils policy, which covers any situation that is not explicitly stated in your insurance policy.\nHowever, HO-7 policies cover your personal belongings under a named perils policy. That means your personal items are only covered under a specific list of circumstances, including:\nDamage from aircrafts or vehicles\nExplosions\nFire and lightning\nHail and windstorms\nRiots\nSmoke\nTheft\nVandalism\nHO–8 insurance\nHO-8 insurance rounds out the eight types of home insurance policies. This type of home insurance is generally considered best for old or\nhistoric homes\nthat may have a relatively high rebuild cost because of their age, design or materials. Homes that have been designated as historic landmarks may do well with such a policy, as would older homes that use less common design features and materials. If it would cost more to repair your damaged home than its current value, an HO-8 policy may be a suitable option.\nHO-8 policies include the standard coverage for dwelling, personal property, liability, additional living expenses and medical payments. Both your home’s structure and your personal property are covered under a named perils policy. This includes events such as:\nDamage from aircraft or vehicles\nExplosions\nFire and lightning\nHail and windstorms\nRiots\nSmoke\nTheft\nVandalism\nVolcanic eruption\nLike a standard home policy, flood and earthquake coverage would need to be purchased separately.\nHow do I choose the right home insurance policy?\nDepending on your living situation, some types of homeowners insurance may be better choices than others. For instance, some policies are geared toward renters, condo owners, mobile homes,\nlandlords\nor homeowners living in their homes. The first step is going to be identifying which category fits you best.\nIf you live in a relatively modern home\nthat you own on a mortgage or otherwise, you may be best with an HO-3, the most common home insurance policy.\nIf you live in a rental property\n, you might consider an HO-4.\nIf you live in a mobile home\n, you may do best with an HO-7.\nIf you live in a condo that you own\n, then you should consider an HO-6.\nIf you live in a historic home that you own\n, you might consider an HO-8.\nIf you have a lot of high-value personal items\nand want the maximum amount of protection possible, an insurer may offer you an HO-5 policy.\nIf you’re looking for a standard home insurance policy\nwith slightly less protection and reduced cost, you may want an HO-2.\nIf you’re looking for a minimalist policy\nthat only covers the structure of your home, attached building and certain appliances, you may want an HO-1.\nUltimately, the type of policy you choose should meet your needs, provide adequate financial protection, and not\ncost\nmore than your budget allows.\nFrequently asked questions\nDid you find this page helpful?\nInfo Icon\nHelp us improve our content","attrs_markdown":"[Skip to Main Content](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/types-of-homeowners-insurance\/#main-content)\n\n- [Banking](https:\/\/www.bankrate.com\/banking\/)\n  All\n  \n  Banking\n  \n  Checking & savings\n  \n  CDs\n  \n  Money market\n  \n  Banks\n  \n  [Explore all banking resources](https:\/\/www.bankrate.com\/banking\/)\n  \n  Banking\n  \n  Compare accounts\n  \n  - 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[Retirement resources](https:\/\/www.bankrate.com\/retirement\/)\n  \n  - [![](https:\/\/www.bankrate.com\/f\/102997\/1440x1440\/59a3f533a8\/best-worst-states-for-retirement-nav-imagery.png\/m\/50x50\/filters:quality\\(90\\):format\\(webp\\)) Best & worst states for retirement 6 min read](https:\/\/www.bankrate.com\/retirement\/best-and-worst-states-for-retirement\/)\n  - [![](https:\/\/www.bankrate.com\/f\/102997\/1440x1440\/a6b1dc15ca\/how-to-save-for-retirement-nav-imagery.png\/m\/50x50\/filters:quality\\(90\\):format\\(webp\\)) How to save for retirement 15 min read](https:\/\/www.bankrate.com\/retirement\/how-to-save-for-retirement\/)\n  \n  Finding an advisor\n  \n  - [Find a financial advisor](https:\/\/www.bankrate.com\/investing\/financial-advisors\/financial-advisor-matching\/)\n  - [Best financial advisors](https:\/\/www.bankrate.com\/investing\/financial-advisors\/best-financial-advisors\/)\n  - [How to choose a financial advisor](https:\/\/www.bankrate.com\/investing\/financial-advisors\/how-to-choose-a-financial-advisor\/)\n  - [Financial planner vs advisor](https:\/\/www.bankrate.com\/investing\/financial-advisors\/financial-advisor-vs-financial-planner\/)\n  \n  Get guidance\n  \n  - [What is financial planning?](https:\/\/www.bankrate.com\/investing\/financial-advisors\/what-is-financial-planning\/)\n  - [What is a fiduciary?](https:\/\/www.bankrate.com\/investing\/financial-advisors\/what-is-a-fiduciary\/)\n  - [What is a CFP?](https:\/\/www.bankrate.com\/investing\/financial-advisors\/what-is-a-certified-financial-planner\/)\n  - [What is wealth management?](https:\/\/www.bankrate.com\/investing\/financial-advisors\/what-is-wealth-management\/)\n  - [Financial advisor resources](https:\/\/www.bankrate.com\/investing\/financial-advisors\/)\n  \n  - [![](https:\/\/www.bankrate.com\/f\/102997\/1440x1440\/1cdbf65950\/what-is-wealth-management-s.png\/m\/50x50\/filters:quality\\(90\\):format\\(webp\\)) When to get an advisor 4 min read](https:\/\/www.bankrate.com\/investing\/financial-advisors\/when-to-get-a-financial-advisor\/)\n  - [![](https:\/\/www.bankrate.com\/f\/102997\/1440x1440\/38750a2d5a\/what-is-a-certified-financial-planner-s.png\/m\/50x50\/filters:quality\\(90\\):format\\(webp\\)) Pros & cons of financial advising 7 min read](https:\/\/www.bankrate.com\/investing\/financial-advisors\/pros-cons-financial-advisor\/)\n  \n  [Explore all investing resources](https:\/\/www.bankrate.com\/investing\/)\n- [Credit cards](https:\/\/www.bankrate.com\/credit-cards\/)\n  All\n  \n  Credit cards\n  \n  Cards by category\n  \n  Cards by credit\n  \n  Tools & reviews\n  \n  Guides & resources\n  \n  [Explore all credit cards resources](https:\/\/www.bankrate.com\/credit-cards\/)\n  \n  Credit cards\n  \n  Compare cards\n  \n  - [Best cards of 2026](https:\/\/www.bankrate.com\/credit-cards\/best-credit-cards\/)\n  - [Best cash back cards](https:\/\/www.bankrate.com\/credit-cards\/cash-back\/best-cash-back-cards\/)\n  - [Best balance transfer cards](https:\/\/www.bankrate.com\/credit-cards\/balance-transfer\/best-balance-transfer-cards\/)\n  - 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[Credit card payoff calculator](https:\/\/www.bankrate.com\/credit-cards\/tools\/credit-card-payoff-calculator\/)\n  - [Balance transfer calculator](https:\/\/www.bankrate.com\/credit-cards\/tools\/credit-card-balance-transfer-calculator\/)\n  - [Credit utilization calculator](https:\/\/www.bankrate.com\/credit-cards\/tools\/credit-utilization-calculator\/)\n  - [Points and miles calculator](https:\/\/www.bankrate.com\/credit-cards\/tools\/points-and-miles-calculator\/)\n  - [All credit card calculators](https:\/\/www.bankrate.com\/credit-cards\/tools\/)\n  \n  - [![](https:\/\/www.bankrate.com\/f\/102997\/1440x1440\/43548bf9cd\/spender-type-tool-nav-imagery.png\/m\/50x50\/filters:quality\\(90\\):format\\(webp\\)) Spender type tool Find cards that fit your needs](https:\/\/www.bankrate.com\/credit-cards\/tools\/spender-type-tool\/)\n  \n  Get advice\n  \n  - [Credit cards 101](https:\/\/www.bankrate.com\/credit-cards\/advice\/)\n  - [Balance transfer advice](https:\/\/www.bankrate.com\/credit-cards\/balance-transfer\/)\n  - [Zero interest credit cards](https:\/\/www.bankrate.com\/credit-cards\/zero-interest\/)\n  - [Rewards credit card advice](https:\/\/www.bankrate.com\/credit-cards\/rewards\/)\n  - [Cash back credit card advice](https:\/\/www.bankrate.com\/credit-cards\/cash-back\/)\n  - [Travel credit card advice](https:\/\/www.bankrate.com\/credit-cards\/travel\/)\n  - [Business credit card advice](https:\/\/www.bankrate.com\/credit-cards\/business\/)\n  \n  Build credit\n  \n  - [Advice for bad credit](https:\/\/www.bankrate.com\/credit-cards\/bad-credit\/)\n  - [Rebuilding credit score](https:\/\/www.bankrate.com\/credit-cards\/building-credit\/)\n  \n  [Explore all credit cards resources](https:\/\/www.bankrate.com\/credit-cards\/)\n- [Loans](https:\/\/www.bankrate.com\/loans\/)\n  All\n  \n  Loans\n  \n  Personal loans\n  \n  Auto loans\n  \n  Student loans\n  \n  Small business loans\n  \n  [Explore all loans resources](https:\/\/www.bankrate.com\/loans\/)\n  \n  Loans\n  \n  Compare lenders\n  \n  - [Best personal loans](https:\/\/www.bankrate.com\/loans\/personal-loans\/rates\/)\n  - [Best personal loans for bad credit](https:\/\/www.bankrate.com\/loans\/personal-loans\/bad-credit-loans\/)\n  - [Best debt consolidation loans](https:\/\/www.bankrate.com\/loans\/personal-loans\/debt-consolidation-loans\/)\n  - [Best home improvement loans](https:\/\/www.bankrate.com\/loans\/home-improvement\/rates\/)\n  \n  Get guidance\n  \n  - [Personal loan resources](https:\/\/www.bankrate.com\/loans\/personal-loans\/)\n  - [Personal loan lender reviews](https:\/\/www.bankrate.com\/loans\/personal-loans\/reviews\/)\n  - [Personal loans calculator](https:\/\/www.bankrate.com\/loans\/personal-loans\/personal-loan-calculator\/)\n  - [Average personal loan interest rates](https:\/\/www.bankrate.com\/loans\/personal-loans\/average-personal-loan-rates\/)\n  \n  - [![](https:\/\/www.bankrate.com\/f\/102997\/1440x1440\/38750a2d5a\/what-is-a-certified-financial-planner-s.png\/m\/50x50\/filters:quality\\(90\\):format\\(webp\\)) Personal loan basics 9 min read](https:\/\/www.bankrate.com\/loans\/personal-loans\/what-is-a-personal-loan\/)\n  - [![](https:\/\/www.bankrate.com\/f\/102997\/1440x1440\/4c26764452\/how-to-start-saving.png\/m\/50x50\/filters:quality\\(90\\):format\\(webp\\)) How to get a personal loan 11 min read](https:\/\/www.bankrate.com\/loans\/personal-loans\/how-to-get-personal-loan\/)\n  \n  Compare lenders\n  \n  - [Best auto loans](https:\/\/www.bankrate.com\/loans\/auto-loans\/rates\/)\n  - [Best auto loan refinance rates](https:\/\/www.bankrate.com\/loans\/auto-loans\/refinance-rates\/)\n  - [Best car loans for bad credit](https:\/\/www.bankrate.com\/loans\/auto-loans\/bad-credit-loans\/)\n  \n  Get guidance\n  \n  - [Auto loan resources](https:\/\/www.bankrate.com\/loans\/auto-loans\/)\n  - [Auto loan lender reviews](https:\/\/www.bankrate.com\/loans\/auto-loans\/reviews\/)\n  - [Auto loan calculator](https:\/\/www.bankrate.com\/loans\/auto-loans\/auto-loan-calculator\/)\n  - [Auto loan refinancing guide](https:\/\/www.bankrate.com\/loans\/auto-loans\/how-to-refinance-car-loan\/)\n  \n  - [![](https:\/\/www.bankrate.com\/f\/102997\/1440x1440\/d1a328a134\/auto-loan-refinancing-guide-nav.png\/m\/50x50\/filters:quality\\(90\\):format\\(webp\\)) How to get the best auto loan rate 10 min read](https:\/\/www.bankrate.com\/loans\/auto-loans\/how-to-get-the-best-auto-loan-rate\/)\n  - [![](https:\/\/www.bankrate.com\/f\/102997\/720x720\/c481afa0d2\/auto-loan-refinancing-guide-s.jpg\/m\/50x50\/filters:quality\\(90\\):format\\(webp\\)) Auto loan basics 5 min read](https:\/\/www.bankrate.com\/loans\/auto-loans\/what-is-an-auto-loan\/)\n  \n  Compare lenders\n  \n  - [Student loan rates](https:\/\/www.bankrate.com\/loans\/student-loans\/rates\/)\n  - [Student loan refinancing rates](https:\/\/www.bankrate.com\/loans\/student-loans\/refinance-rates\/)\n  - [Best bad credit student loans](https:\/\/www.bankrate.com\/loans\/student-loans\/bad-credit-loans\/)\n  \n  Get guidance\n  \n  - [Student loan resources](https:\/\/www.bankrate.com\/loans\/student-loans\/)\n  - [Student loan lender reviews](https:\/\/www.bankrate.com\/loans\/student-loans\/reviews\/)\n  - [Student loan calculator](https:\/\/www.bankrate.com\/loans\/student-loans\/student-loan-calculator\/)\n  - [Student loan refinance calculator](https:\/\/www.bankrate.com\/loans\/student-loans\/student-loan-refinance-calculator\/)\n  \n  - [![](https:\/\/www.bankrate.com\/f\/102997\/1440x1440\/3d6f458d84\/how-to-start-investing-nav-imagery.png\/m\/50x50\/filters:quality\\(90\\):format\\(webp\\)) Private student loan basics 10 min read](https:\/\/www.bankrate.com\/loans\/student-loans\/private-student-loans-guide\/)\n  - [![](https:\/\/www.bankrate.com\/f\/102997\/1440x1440\/4c26764452\/how-to-start-saving.png\/m\/50x50\/filters:quality\\(90\\):format\\(webp\\)) How to get a student loan 11 min read](https:\/\/www.bankrate.com\/loans\/student-loans\/how-to-get-student-loan\/)\n  \n  Compare lenders\n  \n  - [Best small business loans](https:\/\/www.bankrate.com\/loans\/small-business\/best-small-business-loans\/)\n  - [Bad credit small business loans](https:\/\/www.bankrate.com\/loans\/small-business\/bad-credit-business-loans\/)\n  - [Business lines of credit](https:\/\/www.bankrate.com\/loans\/small-business\/business-line-of-credit\/)\n  - [Small business loan banks](https:\/\/www.bankrate.com\/loans\/small-business\/best-banks-for-small-business-loans\/)\n  \n  Get guidance\n  \n  - [Small business loans resources](https:\/\/www.bankrate.com\/loans\/small-business\/)\n  - [Small business loan reviews](https:\/\/www.bankrate.com\/loans\/small-business\/reviews\/)\n  - [Small business loan calculator](https:\/\/www.bankrate.com\/loans\/small-business\/business-loan-calculator\/)\n  \n  - [![](https:\/\/www.bankrate.com\/f\/102997\/1440x1440\/4c26764452\/how-to-start-saving.png\/m\/50x50\/filters:quality\\(90\\):format\\(webp\\)) How small business loans work 9 min read](https:\/\/www.bankrate.com\/loans\/small-business\/how-do-small-business-loans-work\/)\n  - [![](https:\/\/www.bankrate.com\/f\/102997\/1440x1440\/38750a2d5a\/what-is-a-certified-financial-planner-s.png\/m\/50x50\/filters:quality\\(90\\):format\\(webp\\)) How to get a business loan 9 min read](https:\/\/www.bankrate.com\/loans\/small-business\/how-to-get-a-business-loan\/)\n  \n  [Explore all loans resources](https:\/\/www.bankrate.com\/loans\/)\n- [Home equity](https:\/\/www.bankrate.com\/home-equity\/)\n  All\n  \n  Home equity\n  \n  HELOC\n  \n  Home equity loans\n  \n  [Explore all home equity resources](https:\/\/www.bankrate.com\/home-equity\/)\n  \n  Home equity\n  \n  HELOC\n  \n  A HELOC is a variable-rate line of credit that lets you borrow funds for a set period and repay them later.\n  \n  [HELOC Rates](https:\/\/www.bankrate.com\/home-equity\/heloc-rates\/)\n  \n  Home equity basics\n  \n  - [Best HELOC lenders](https:\/\/www.bankrate.com\/home-equity\/heloc-lenders\/)\n  - [HELOC calculator](https:\/\/www.bankrate.com\/home-equity\/heloc-calculator\/)\n  - [What is a HELOC?](https:\/\/www.bankrate.com\/home-equity\/what-is-heloc\/)\n  - [Pros and cons of HELOCs](https:\/\/www.bankrate.com\/home-equity\/pros-cons-of-home-equity-lines\/)\n  - [Home equity lender reviews](https:\/\/www.bankrate.com\/home-equity\/reviews\/)\n  \n  - [![](https:\/\/www.bankrate.com\/f\/102997\/1440x1440\/e9e92b7729\/home-equity-heloc-guide-nav-imagery.png\/m\/50x50\/filters:quality\\(90\\):format\\(webp\\)) What is home equity? 8 min read](https:\/\/www.bankrate.com\/home-equity\/what-is-home-equity\/)\n  - [![Home purchase](https:\/\/www.bankrate.com\/f\/102997\/1280x720\/98576f9f53\/home-purchase.jpeg\/m\/50x50\/filters:quality\\(90\\):format\\(webp\\)) How to calculate home equity 6 min read](https:\/\/www.bankrate.com\/home-equity\/how-to-calculate-equity-in-your-home\/)\n  \n  Home equity loans\n  \n  Home equity loans let you borrow a lump sum at a fixed rate, based on how much of the home you own outright.\n  \n  [Home equity loan rates](https:\/\/www.bankrate.com\/home-equity\/home-equity-loan-rates\/)\n  \n  Get guidance\n  \n  - 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Types of homeowners insurance\n\nAdvertiser Disclosure\n\n# Types of homeowners insurance\n![Joshua Cox-Steib](https:\/\/www.bankrate.com\/2021\/03\/31180836\/Joshua-Cox-Steib-Headshot.jpg?auto=webp&quality=85&width=24&height=24&fit=cover&enable=upscale&crop=1:1,smart) ![Maggie Kempken](https:\/\/www.bankrate.com\/2021\/06\/08090323\/magkemp.jpg?auto=webp&quality=85&width=24&height=24&fit=cover&enable=upscale&crop=1:1,smart) ![Mark Friedlander](https:\/\/www.bankrate.com\/2021\/06\/21095241\/Friedlander.jpg?auto=webp&quality=85&width=24&height=24&fit=cover&enable=upscale&crop=1:1,smart)\n\nWritten by\n\nJoshua Cox-Steib\n\n,\n\n![](https:\/\/www.bankrate.com\/2021\/03\/31180836\/Joshua-Cox-Steib-Headshot.jpg?auto=webp&quality=85&width=64&height=64&fit=cover&enable=upscale&crop=1:1,smart)\n\n[Joshua Cox-Steib](https:\/\/www.bankrate.com\/authors\/joshua-cox-steib\/)\n\nContributor, Personal Finance\n\nExpertise\n\n- •  Life insurance\n- •  Auto insurance\n\nJoshua Cox-Steib has two years of experience in writing for insurance domains such as Bankrate, Coverage.com, The Simple Dollar, Reviews.com, and more. His work has also been featured on such sites as MSN and BBB (Better Business Bureau). His insurance writing career has spanned across multiple product lines, with a primary focus on auto insurance, life insurance, and home insurance.\n\n[Read more](https:\/\/www.bankrate.com\/authors\/joshua-cox-steib\/)\n\n- [Get in contact with Joshua Cox-Steib via Email](mailto:info@bankrate.com)\n\nClose\n\n[Joshua Cox-Steib](https:\/\/www.bankrate.com\/authors\/joshua-cox-steib\/),\n\nEdited by\n\nMaggie Kempken\n\n,\n\n![](https:\/\/www.bankrate.com\/2021\/06\/08090323\/magkemp.jpg?auto=webp&quality=85&width=64&height=64&fit=cover&enable=upscale&crop=1:1,smart)\n\n[Maggie Kempken](https:\/\/www.bankrate.com\/authors\/maggie-kempken\/)\n\nManaging Editor, Mortgages & Home Equity\n\nExpertise\n\n- •  Mortgages\n- •  Home equity loans\n\nMaggie is the managing editor for Bankrate mortgages, home equity and personal finance. She oversees the day-to-day operations of the home lending editorial team and leads a team of personal finance experts who help make home loans and other personal finance topics accessible and easy to understand.\n\n[Read more](https:\/\/www.bankrate.com\/authors\/maggie-kempken\/)\n\nClose\n\n[Maggie Kempken](https:\/\/www.bankrate.com\/authors\/maggie-kempken\/),\n\nReviewed by\n\nMark Friedlander\n\n,\n\n![](https:\/\/www.bankrate.com\/2021\/06\/21095241\/Friedlander.jpg?auto=webp&quality=85&width=64&height=64&fit=cover&enable=upscale&crop=1:1,smart)\n\n[Mark Friedlander](https:\/\/www.bankrate.com\/authors\/mark-friedlander\/)\n\nDirector of corporate communications, Insurance Information Institute\n\nExpertise\n\n- •  Insurance\n\nMark Friedlander is director of corporate communications at III, a nonprofit organization focused on providing consumers with a better understanding of insurance.\n\n[Read more](https:\/\/www.bankrate.com\/authors\/mark-friedlander\/)\n\n- [Connect with Mark Friedlander on Twitter](https:\/\/twitter.com\/markfri09)\n- [Connect with Mark Friedlander on LinkedIn](https:\/\/www.linkedin.com\/in\/mark-friedlander-53a07a13\/)\n\n[About our review board](https:\/\/www.bankrate.com\/financial-review-board\/)\n\nClose\n\n[Mark Friedlander](https:\/\/www.bankrate.com\/authors\/mark-friedlander\/),\n\nExpert verified\n\nHow is this page expert verified?\n\nAt Bankrate, we take the accuracy of our content seriously.\n\n“Expert verified” means that our Financial Review Board thoroughly evaluated the article for accuracy and clarity. The Review Board comprises a panel of financial experts whose objective is to ensure that our content is always objective and balanced.\n\nTheir reviews hold us accountable for publishing high-quality and trustworthy content.\n\n[About our Review Board](https:\/\/www.bankrate.com\/financial-review-board\/)\n\nClose\n\n[Expert verified](https:\/\/www.bankrate.com\/financial-review-board\/)\n\nPublished on August 07, 2025 \\| 8 min read\n\nBankrate is always editorially independent. To help readers understand how insurance affects their finances, we have licensed insurance professionals on staff who have spent a combined 47 years in the auto, home and life insurance industries. While we adhere to strict editorial integrity , this post may contain references to products from our partners. Here's an explanation of how we make money . Our content is backed by [Coverage.com,](https:\/\/www.coverage.com\/ \"Coverage.com\") LLC, a licensed entity (NPN: 19966249). For more information, please see our Insurance Disclosure . Our Bankrate promise is to ensure everything we publish is objective, accurate and trustworthy.\n\n![Row of houses on a clear sunny day](https:\/\/www.bankrate.com\/2020\/03\/25124058\/Types-of-House-Insurance.png?auto=webp&optimize=high&crop=16:9)\n\nGaryAlvis\/Getty Images\n\nTable of contents\n\n- [HO-1 policies](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/types-of-homeowners-insurance\/#ho1)\n- [HO-2 policies](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/types-of-homeowners-insurance\/#ho2)\n- [HO-3 policies](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/types-of-homeowners-insurance\/#ho3)\n- [HO-4 policies](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/types-of-homeowners-insurance\/#ho4)\n- [HO-5 policies](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/types-of-homeowners-insurance\/#ho5)\n- [HO-6 policies](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/types-of-homeowners-insurance\/#ho6)\n- [HO-7 policies](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/types-of-homeowners-insurance\/#ho7)\n- [HO-8 policies](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/types-of-homeowners-insurance\/#ho8)\n- [How do I choose the right home insurance policy?](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/types-of-homeowners-insurance\/#how-do-i-choose-the-right-home-insurance-policy)\n- [Frequently asked questions](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/types-of-homeowners-insurance\/#frequently-asked-questions)\n\nTable of contents\n\nBack to top\n\nThere are eight home insurance policy types to choose from. The type that’s best for you depends on whether you rent or own and the type of home you have.\n\n- **HO-1:** The most basic and limited form of homeowners insurance for single-family homes, this type does not include coverage for belongings and is rarely offered by insurers today.\n- **HO-2:** A step up from an HO-1 policy, this policy type does include coverage for belongings, but in general offers fewer financial protections than an HO-3 policy.\n- **HO-3:** The most common homeowners insurance policy for single-family homes, this type offers broader financial protection for your structures and belongings against a wider range of risks.\n- **HO-4:** Known as renters insurance, this policy type covers personal property, liability, and tenant’s loss of use.\n- **HO-5:** A highly comprehensive (and expensive) policy for single-family homes, this policy type provides the most extensive coverage available.\n- **HO-6:** Designed specifically for condo owners, this policy covers the interior structure from the studs in and personal belongings.\n- **HO-7:** Tailored for manufactured and mobile home owners, this policy type offers coverage similar to an HO-3 policy but for non-permanent structures.\n- **HO-8:** A specialized policy for older or historic homes, this coverage types can step in where the cost to rebuild exceeds the home’s market value.\n### **HO–1 insurance**\nAn HO-1 is the most basic homeowners insurance policy. It only provides coverage for the structure of your home, attached structures like garages and appliances and home features like carpeting. It does not include coverage for personal property, liability or additional living expenses. Because of those limitations, it is not as popular as more robust policy options.\n\nHO-1 insurance is a named perils policy, meaning it only covers your home in specific loss events, which typically include:\n\n- Damage from aircrafts or vehicles\n- Explosions\n- Fire and lightning\n- Hail and windstorms\n- Riots\n- Smoke\n- Theft\n- Vandalism\n- Volcanic eruption\n\nWith an HO-1 policy, your home, attached structures, appliances and home features will only be protected if they are damaged by one of the perils that is specifically listed in your policy. If they incur damage from anything else, you will need to pay for the repairs out of pocket, as any [claim filed](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/filing-a-claim\/) for uncovered losses would be denied by your home insurer. It is worth noting that an HO-1 policy does not include liability, loss of use coverage or medical payments coverage, which are part of standard home policies. Because coverage is so limited, many insurers do not write this type of policy.\n\n**Learn more:** [HO-1 insurance](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/types-of-homeowners-insurance\/)\n\n### **HO–2 insurance**\nAn HO-2 insurance policy is known as a broad form and covers your home and your personal belongings. Most [home insurance companies](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/best-home-insurance-companies\/) will cover your personal belongings up to a specified level if they are at home, in your car or somewhere else, such as an offsite storage facility. HO-2 policies may include [liability coverage](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/personal-liability-insurance\/) in some circumstances. To determine if your HO-2 policy includes liability coverage, contact your insurance carrier directly.\n\nLike an HO-1 policy, HO-2 insurance is a named perils policy that covers your home and your personal items from the losses that are listed in your policy. Typically, the losses found in an HO-2 policy are similar to the ones in an HO-1, but may include a few additional ones:\n\n- Accidental discharge or overflow of water or steam within the home\n- A falling object\n- Freezing of pipes and heating and air conditioning systems\n- Sudden and accidental damage from certain electrical currents\n- Tearing apart, burning, cracking from some household systems\n- Weight from ice, snow or sleet\n\n**Learn more:** [HO-2 insurance](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/types-of-homeowners-insurance\/)\n\n### **HO-3 insurance**\nThe most common type of homeowners insurance is the HO-3 policy — accounting for more than 90 percent of all home policies written in the U.S. — which covers your home, your personal property, liability, additional living expenses and medical payments. Unlike an HO-1 and HO-2 policy, your home and attached structures are protected on an open-peril basis; they are protected from all kinds of losses except the ones that are specifically [excluded from your policy](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/homeowners-insurance-exclusions\/).\n\nPersonal finance and insurance expert [Laura Adams](https:\/\/www.bankrate.com\/authors\/laura-adams\/) says, “An HO-3 is considered the standard coverage. It gives you ‘open perils’ coverage for your home structure, which protects you from all disasters unless the policy lists exceptions. However, you receive ‘named perils’ coverage for personal possessions, which applies to disasters named in the policy.”\n\nYour home and other structures typically have the following perils excluded:\n\n- Any animals owned by the insured\n- Birds, rodents, varmint\n- Defective construction or maintenance\n- Earth movement\n- Flood\n- Foundation issues\n- Government actions\n- Intentional loss\n- Mechanical breakdown\n- Mold, fungus, wet rot\n- Neglect\n- Nuclear hazard\n- Ordinance or law\n- Pet or animal damage\n- Pollution and corrosion\n- Power failure\n- Smog, rust, or corrosion\n- Theft, vandalism and frozen pipes in vacant houses\n- Wear and tear\n- War and insurrection\n\nAlthough floods and earthquakes are not covered by a standard HO-3 policy, you may be able to get an endorsement or separate [flood insurance](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/flood-insurance\/) or [earthquake policy](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/what-disasters-does-homeowners-insurance-cover\/) to meet these coverage needs.\n\n- Damage from aircrafts or vehicles\n- Damage from the weight of snow or ice\n- Damages caused by an electrical current\n- Explosions\n- Falling objects\n- Fire and lightning\n- Hail and windstorms\n- Pipes freezing\n- Riots\n- Smoke\n- Theft\n- Vandalism\n- Volcanic eruptions\n- Water damage from plumbing or HVAC overflow\n- Water heater damage\n\n**Learn more:** [HO-3 insurance](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/ho3\/)\n\n### **HO–4 insurance**\nAn HO-4 policy, also known as [renters insurance](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/best-renters-insurance-companies\/), is intended for renters who want to insure their personal belongings and get additional coverage, like liability and additional living expenses. An HO-4 is not technically a “homeowners” policy, as renters don’t own the property where they are living, which is why this policy type excludes coverage for the building’s structure, whether it is a single-family home or multi-family structure like an apartment building. Renters would need to purchase separate coverage for flood and earthquake damage.\n\nRenters insurance policies are usually named perils policies that cover the following events:\n\n- Damage from aircrafts or vehicles\n- Damage from the weight of snow or ice\n- Damages caused by an electrical current\n- Explosions\n- Falling objects\n- Fire and lightning\n- Hail and windstorms\n- Pipes freezing\n- Riots\n- Smoke\n- Theft\n- Vandalism\n- Volcanic eruptions\n- Water damage from plumbing or HVAC overflow\n- Water heater damage\n\n**Learn more:** [HO-4 insurance](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/types-of-homeowners-insurance\/)\n\n### **HO–5 insurance**\nAn HO-5 policy is the most robust option available, covering your home, your personal belongings, liability, additional living expenses and medical payments for others. It typically covers personal possessions at replacement cost value versus actual cash value. These policies may also have higher coverage limits for personal possessions like jewelry compared to the more common [HO-3 policy](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/types-of-homeowners-insurance\/). However, not all home insurers offer HO-5 policies and not all homeowners will be able to purchase an HO-5 policy due to the strict qualification guidelines.\n\nTo get an HO-5 policy, your home typically needs to be newer construction, have higher than average replacement cost value, and\/or located in a low-risk area for natural disasters.\n\nAdams discusses how an HO-5 policy could be beneficial for individuals with high-value items. She says, “It typically costs more and may not be offered by every insurer, but could be worth it if you have many valuable possessions.”\n\nWith an HO-5 policy, your home and your personal items are both covered on an open perils basis. Some common exclusions include:\n\n- Earth movement\n- Government actions or laws\n- Infestation of birds, rodents or insects\n- Intentional loss\n- Mechanical breakdown\n- Mold\n- Nuclear hazard\n- Pets\n- Vandalism if the property is vacant more than two months\n- War and insurrection\n- Water damages from floods or sewer backup\n\nBecause an HO-5 policy is written on an open perils basis rather than on a named perils basis, it covers more circumstances and can make it easier to get coverage when you file a claim. Because of its higher coverage limits for personal property, an HO-5 policy is usually more expensive than a standard HO-3.\n\n**Learn more:** [HO-5 insurance](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/types-of-homeowners-insurance\/)\n\n### **HO–6 insurance**\nHO-6 insurance is specifically for condo owners. These policies exclude the structure of the condo and anything else that would fall under the overarching policy for the condo facilities insurance policy. Instead, the HO-6 covers your belongings, some appliances and devices within the condo, personal liability and additional living expenses. The structure and features are generally covered under a master insurance policy written for the entire collection of condos and the surrounding property of common areas, such as pools, laundry rooms or social rooms. HOA fees are commonly charged to condo owners to help cover these collective, overarching insurance policies.\n\nIt is important to have enough coverage in your condo policy to not only pay off your mortgage, but to purchase a similar unit if your building is damaged or destroyed and you need to move elsewhere. For flood and earthquake coverage, separate coverage would need to be purchased.\n\nHO-6 policies are named perils policies that generally cover:\n\n- Damage from aircrafts or vehicles\n- Damage from the weight of snow or ice\n- Damages caused by an electrical current\n- Explosions\n- Falling objects\n- Fire and lightning\n- Hail and windstorms\n- Pipes freezing\n- Riots\n- Smoke\n- Theft\n- Vandalism\n- Volcanic eruptions\n- Water damage from plumbing or HVAC overflow\n- Water heater damage\n\n**Learn more:** HO-6 insurance\n\n### **HO–7 insurance**\nAn HO-7 insurance policy covers mobile or manufactured homes, including trailers, sectional homes, RVs and modular homes. This type of policy provides coverage for your home’s structure, your personal belongings, liability, additional living expenses and medical payments. Flood and earthquake coverage would need to be purchased separately.\n\nThe exterior of your home is covered under an open perils policy, which covers any situation that is not explicitly stated in your insurance policy.\n\nHowever, HO-7 policies cover your personal belongings under a named perils policy. That means your personal items are only covered under a specific list of circumstances, including:\n\n- Damage from aircrafts or vehicles\n- Explosions\n- Fire and lightning\n- Hail and windstorms\n- Riots\n- Smoke\n- Theft\n- Vandalism\n### **HO–8 insurance**\nHO-8 insurance rounds out the eight types of home insurance policies. This type of home insurance is generally considered best for old or [historic homes](https:\/\/www.bankrate.com\/mortgages\/how-to-buy-a-house\/) that may have a relatively high rebuild cost because of their age, design or materials. Homes that have been designated as historic landmarks may do well with such a policy, as would older homes that use less common design features and materials. If it would cost more to repair your damaged home than its current value, an HO-8 policy may be a suitable option.\n\nHO-8 policies include the standard coverage for dwelling, personal property, liability, additional living expenses and medical payments. Both your home’s structure and your personal property are covered under a named perils policy. This includes events such as:\n\n- Damage from aircraft or vehicles\n- Explosions\n- Fire and lightning\n- Hail and windstorms\n- Riots\n- Smoke\n- Theft\n- Vandalism\n- Volcanic eruption\n\nLike a standard home policy, flood and earthquake coverage would need to be purchased separately.\n\n## **How do I choose the right home insurance policy?**\nDepending on your living situation, some types of homeowners insurance may be better choices than others. For instance, some policies are geared toward renters, condo owners, mobile homes, [landlords](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/best-landlord-insurance\/) or homeowners living in their homes. The first step is going to be identifying which category fits you best.\n\n- **If you live in a relatively modern home** that you own on a mortgage or otherwise, you may be best with an HO-3, the most common home insurance policy.\n- **If you live in a rental property**, you might consider an HO-4.\n- **If you live in a mobile home**, you may do best with an HO-7.\n- **If you live in a condo that you own**, then you should consider an HO-6.\n- **If you live in a historic home that you own**, you might consider an HO-8.\n- **If you have a lot of high-value personal items** and want the maximum amount of protection possible, an insurer may offer you an HO-5 policy.\n- **If you’re looking for a standard home insurance policy** with slightly less protection and reduced cost, you may want an HO-2.\n- **If you’re looking for a minimalist policy** that only covers the structure of your home, attached building and certain appliances, you may want an HO-1.\n\nUltimately, the type of policy you choose should meet your needs, provide adequate financial protection, and not [cost](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/homeowners-insurance-cost\/) more than your budget allows.\n\n![Bankrate and Coverage Logo](https:\/\/www.bankrate.com\/v7.114.0\/next\/img\/insurance\/bankrate-and-coverage-logo.png?auto=webp&optimize=high)\n\nPowered by Coverage.com (NPN: 19966249)\n\n[Advertising disclosure]()\n\nThis advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.\n\n[Insurance disclosure](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/types-of-homeowners-insurance\/)\n\nCoverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in [states where it is licensed](https:\/\/www.coverage.com\/insurance-licenses\/). Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.\n### Compare home insurance rates\nAnswer a few questions to see personalized rates from top carriers.\n\nDo you own or rent this home?\n\nOwn\n\nRent\n\nZIP Code\n\nYour information is kept secure Please enter a valid 5-digit ZIP Code\n\nContinue\n\nPowered by Coverage.com (NPN: 19966249)\n\n[Advertising disclosure]()\n\nThis advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.\n\n[Insurance disclosure](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/types-of-homeowners-insurance\/)\n\nCoverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in [states where it is licensed](https:\/\/www.coverage.com\/insurance-licenses\/). Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.\n\n![Bankrate and Coverage Logo](https:\/\/www.bankrate.com\/v7.114.0\/next\/img\/insurance\/bankrate-and-coverage-logo.png?auto=webp&optimize=high)\n\nPowered by Coverage.com (NPN: 19966249)\n\n[Advertising disclosure]()\n\nThis advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.\n\n[Insurance disclosure](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/types-of-homeowners-insurance\/)\n\nCoverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in [states where it is licensed](https:\/\/www.coverage.com\/insurance-licenses\/). Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.\n### Compare home insurance rates\nAnswer a few questions to see personalized rates from top carriers.\n\nDo you own or rent this home?\n\nOwn\n\nRent\n\nZIP Code\n\nYour information is kept secure Please enter a valid 5-digit ZIP Code\n\nContinue\n\nPowered by Coverage.com (NPN: 19966249)\n\n[Advertising disclosure]()\n\nThis advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.\n\n[Insurance disclosure](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/types-of-homeowners-insurance\/)\n\nCoverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in [states where it is licensed](https:\/\/www.coverage.com\/insurance-licenses\/). Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.\n## **Frequently asked questions**\n- ### What is the cheapest home insurance?\n  Home insurance rates can vary significantly between people, properties, policies and carriers. The [cheapest home insurance](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/cheap-homeowners-insurance\/) for you may not be the cheapest for a friend. Where your home is located, when it was built, what types of materials it has, what types and levels of coverage you have and much more go into [calculating your premium](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/factors-that-impact-home-insurance-rates\/). In general, there are a few things you can do when looking for the cheapest policy. You can prioritize carriers with low average rates, focus on companies that offer several discounts and consider taking on increased risk by raising your deductible or lowering your coverage, to name a few approaches. If you choose to take on more risk, it’s wise to speak with an insurance expert before reducing your coverage or raising your deductibles, as both moves can result in you paying more out-of-pocket if a peril occurs.\n- ### Can I decide to make my homeowners insurance named peril or open peril?\n  Customers may select carriers that offer options between named and open peril policies, but these decisions are ultimately up to the insurance carrier. The most common form of home insurance, the HO-3, uses a combination of open and named peril. The structures are covered under open peril, with a list of exceptions, and personal belongings are covered under named peril.\n  \n  Open peril policies cover any damaging event that isn’t excluded, as opposed to named peril policies, which only cover damaging events that are specifically named within the policy. It is also possible to round out your named peril policy by adding further [insurance endorsements](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/policy-endorsements\/).\n- ### Is homeowners insurance required?\n  Traditionally, home insurance is not legally required by the state or federal government. Mortgage lenders often require home insurance as a stipulation of the mortgage loan. In general, however, homeowners insurance is the homeowner’s choice and is an optional form of financial protection rather than a mandate. Even if you aren’t required to have home insurance, it can still be a wise choice. Without a policy, homeowners can get stuck paying out-of-pocket for any damages, repairs or replacements.\n  \n  When determining what policy type is right for you, you should know that the eight policy types described on this page follow standard national industry forms created by the Insurance Services Office (ISO, so there is consistency in the policy contract regardless of who your insurer is or where you reside.\n- ### How much dwelling coverage do I need to replace my home in the event of a catastrophic loss?\n  In general, you’ll want [enough dwelling coverage](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/how-much-homeowners-insurance\/) to replace your home in case of a total loss. How much that takes can vary over time as the cost of materials and rebuilding fluctuates. Material and construction prices, both with and independent of inflation, have fluctuated significantly in the last five or six years. According to the Insurance Information Institute, cumulative replacement costs increased 55 percent between 2019 and 2022 due to supply chain disruption, escalating costs of construction materials and labor shortages. Replacement costs continued to climb by 2.5 percent in 2023.\n  \n  As a result, it is likely wise to speak with your insurance agent and have them do a full assessment of the replacement cost of your home. If your dwelling coverage limit is lower than that, you may want to increase that coverage limit.\n\nDid you find this page helpful?\n\n**Why we ask for feedback** Your feedback helps us improve our content and services. It takes less than a minute to complete.\n\nYour responses are anonymous and will only be used for improving our website.\n\nHelp us improve our content\n\nYes\n\nNo\n\nThank you for your feedback\\!\n\nYour input helps us improve our content and services.\n\nCite us\n\nShare this article\n\nShare this article\n\nClose\n\n![](https:\/\/www.bankrate.com\/2021\/03\/31180836\/Joshua-Cox-Steib-Headshot.jpg?auto=webp&quality=85&width=96&height=96&fit=cover&enable=upscale&crop=1:1,smart)\n\nWritten by\n\n[Joshua Cox-Steib](https:\/\/www.bankrate.com\/authors\/joshua-cox-steib\/)\n\nContributor, Personal Finance\n\n- [Get in contact with Joshua Cox-Steib via Email](mailto:info@bankrate.com)\n\n[Read more from Joshua](https:\/\/www.bankrate.com\/authors\/joshua-cox-steib\/)\n\nJoshua Cox-Steib has two years of experience in writing for insurance domains such as Bankrate, Coverage.com, The Simple Dollar, Reviews.com, and more. His work has also been featured on such sites as MSN and BBB (Better Business Bureau). His insurance writing career has spanned across multiple product lines, with a primary focus on auto insurance, life insurance, and home insurance.\n\n![Row of houses on a clear sunny day](https:\/\/www.bankrate.com\/2020\/03\/25124058\/Types-of-House-Insurance.png?auto=webp&optimize=high&crop=16:9)\n\nGaryAlvis\/Getty Images\n\nBankrate is always editorially independent. To help readers understand how insurance affects their finances, we have licensed insurance professionals on staff who have spent a combined 47 years in the auto, home and life insurance industries. While we adhere to strict editorial integrity , this post may contain references to products from our partners. Here's an explanation of how we make money . Our content is backed by [Coverage.com,](https:\/\/www.coverage.com\/ \"Coverage.com\") LLC, a licensed entity (NPN: 19966249). For more information, please see our Insurance Disclosure . Our Bankrate promise is to ensure everything we publish is objective, accurate and trustworthy.\n\nTable of contents\n\n- [HO-1 policies](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/types-of-homeowners-insurance\/#ho1)\n- [HO-2 policies](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/types-of-homeowners-insurance\/#ho2)\n- [HO-3 policies](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/types-of-homeowners-insurance\/#ho3)\n- [HO-4 policies](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/types-of-homeowners-insurance\/#ho4)\n- [HO-5 policies](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/types-of-homeowners-insurance\/#ho5)\n- [HO-6 policies](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/types-of-homeowners-insurance\/#ho6)\n- [HO-7 policies](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/types-of-homeowners-insurance\/#ho7)\n- [HO-8 policies](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/types-of-homeowners-insurance\/#ho8)\n- [How do I choose the right home insurance policy?](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/types-of-homeowners-insurance\/#how-do-i-choose-the-right-home-insurance-policy)\n- [Frequently asked questions](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/types-of-homeowners-insurance\/#frequently-asked-questions)\n\nBack to top\n\n## You may also like\n![](https:\/\/www.bankrate.com\/brp\/2025\/04\/16161836\/GettyImages-536120850-300x200.jpg)\n\n[Excess and surplus lines insurance: What you need to know](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/surplus-lines-home-coverage\/)\n\nHomeowners Insurance\n\nBy [Shannon Martin](https:\/\/www.bankrate.com\/authors\/shannon-martin\/)\n\n5 min read\n\n![](https:\/\/www.bankrate.com\/brp\/2025\/05\/02125203\/Insurance-How-to-prep-your-home-for-summer-300x169.jpg)\n\n[Summer home prep: How to avoid costly damage and insurance claims](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/how-to-prep-home-for-summer\/)\n\nHomeowners Insurance\n\nBy [Natalie Todoroff](https:\/\/www.bankrate.com\/authors\/natalie-todoroff\/)\n\n5 min read\n\n![Photo of a house with old roofing tiles that need to be replaced.](https:\/\/www.bankrate.com\/2023\/04\/17095252\/Insurance_What-does-homeowners-insurance-cover_.jpg)\n\n[What does homeowners insurance cover?](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/what-does-homeowners-insurance-cover\/)\n\nHomeowners Insurance\n\nBy [Natalie Todoroff](https:\/\/www.bankrate.com\/authors\/natalie-todoroff\/)\n\n8 min read\n\n![A parent sits on the stoop in front of their home with one baby child in their arms and another, toddler, drawing with chalk on the walkway.](https:\/\/www.bankrate.com\/2021\/08\/26104511\/How-much-homeowners-insurance-do-I-need.jpg)\n\n[How much homeowners insurance do I need?](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/how-much-homeowners-insurance\/)\n\nHomeowners Insurance\n\nBy [Natalie Todoroff](https:\/\/www.bankrate.com\/authors\/natalie-todoroff\/)\n\n10 min read\n\n## [Bankrate logo](https:\/\/www.bankrate.com\/)\n### About\n- [About us](https:\/\/www.bankrate.com\/about\/)\n- [Leadership](https:\/\/www.bankrate.com\/leadership\/)\n- [Press room](https:\/\/www.bankrate.com\/press-releases\/)\n- [Bankrate Data Center](https:\/\/www.bankrate.com\/data-center\/)\n- [Careers](https:\/\/www.bankrate.com\/careers\/)\n- [Site map](https:\/\/www.bankrate.com\/corporate\/site-map\/)\n\n### Help\n- [Compare rates](https:\/\/www.bankrate.com\/compare-rates\/)\n- [Latest news](https:\/\/www.bankrate.com\/news\/)\n- [Popular topics](https:\/\/www.bankrate.com\/popular-finance-topics\/)\n- [Advertise with us](https:\/\/www.bankrate.com\/media-kit\/)\n\n### Legal\n- [Privacy policy](https:\/\/www.bankrate.com\/privacy\/)\n- Cookie settings\n- [Do Not Sell or Share My Personal Information](https:\/\/www.bankrate.com\/do-not-sell-or-share-my-personal-information\/)\n- [Consumer Health Information Privacy Policy](https:\/\/www.bankrate.com\/consumer-health-information-privacy-policy\/)\n- [Understanding Bankrate’s averages](https:\/\/www.bankrate.com\/understanding-bankrates-rate-averages\/)\n- [Terms of use](https:\/\/www.bankrate.com\/terms\/)\n- [GLBA annual notice](https:\/\/www.bankrate.com\/glba-notice\/)\n- [California Consumer Financial Privacy Notice](https:\/\/www.bankrate.com\/2022\/02\/15094901\/california-notice.pdf)\n- [Licenses](https:\/\/www.bankrate.com\/licenses\/)\n\n### How we make money\nBankrate.com is an independent, advertising-supported publisher and comparison service. 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We are compensated in exchange for placement of sponsored products and services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range, can also impact how and where products appear on this site. While we strive to provide a wide range of offers, Bankrate does not include information about every financial or credit product or service.\n\n## Insurance Disclosure\nCoverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in [states where it is licensed](https:\/\/www.coverage.com\/insurance-licenses\/). Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.\n\nTable of contents\n\n- [HO-1 policies](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/types-of-homeowners-insurance\/#ho1)\n- [HO-2 policies](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/types-of-homeowners-insurance\/#ho2)\n- [HO-3 policies](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/types-of-homeowners-insurance\/#ho3)\n- [HO-4 policies](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/types-of-homeowners-insurance\/#ho4)\n- [HO-5 policies](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/types-of-homeowners-insurance\/#ho5)\n- [HO-6 policies](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/types-of-homeowners-insurance\/#ho6)\n- [HO-7 policies](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/types-of-homeowners-insurance\/#ho7)\n- [HO-8 policies](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/types-of-homeowners-insurance\/#ho8)\n- [How do I choose the right home insurance policy?](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/types-of-homeowners-insurance\/#how-do-i-choose-the-right-home-insurance-policy)\n- [Frequently asked questions](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/types-of-homeowners-insurance\/#frequently-asked-questions)\n\n**Quick citation guide**   Select a citation to automatically copy to clipboard.\n\n**APA:**  Cox-Steib, J. (2025, August 07). *Types of homeowners insurance.* Bankrate. Retrieved April 16, 2026, from https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/types-of-homeowners-insurance\/\n\nCopied to clipboard\\!\n\n**MLA:**  Cox-Steib, Joshua. \"Types of homeowners insurance.\" *Bankrate*. 07 August 2025, https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/types-of-homeowners-insurance\/.\n\nCopied to clipboard\\!\n\n**Chicago:**  Cox-Steib, Joshua. \"Types of homeowners insurance.\" Bankrate. August 07, 2025. https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/types-of-homeowners-insurance\/.\n\nCopied to clipboard\\!\n\n![](https:\/\/www.facebook.com\/tr?id=1805085980359671&ev=PageView&noscript=1)\n\n![](https:\/\/www.facebook.com\/tr?id=1564326531369118&ev=PageView&noscript=1)","attrs_readable_markdown":"There are eight home insurance policy types to choose from. The type that’s best for you depends on whether you rent or own and the type of home you have.\n\n- **HO-1:** The most basic and limited form of homeowners insurance for single-family homes, this type does not include coverage for belongings and is rarely offered by insurers today.\n- **HO-2:** A step up from an HO-1 policy, this policy type does include coverage for belongings, but in general offers fewer financial protections than an HO-3 policy.\n- **HO-3:** The most common homeowners insurance policy for single-family homes, this type offers broader financial protection for your structures and belongings against a wider range of risks.\n- **HO-4:** Known as renters insurance, this policy type covers personal property, liability, and tenant’s loss of use.\n- **HO-5:** A highly comprehensive (and expensive) policy for single-family homes, this policy type provides the most extensive coverage available.\n- **HO-6:** Designed specifically for condo owners, this policy covers the interior structure from the studs in and personal belongings.\n- **HO-7:** Tailored for manufactured and mobile home owners, this policy type offers coverage similar to an HO-3 policy but for non-permanent structures.\n- **HO-8:** A specialized policy for older or historic homes, this coverage types can step in where the cost to rebuild exceeds the home’s market value.\n### **HO–1 insurance**\nAn HO-1 is the most basic homeowners insurance policy. It only provides coverage for the structure of your home, attached structures like garages and appliances and home features like carpeting. It does not include coverage for personal property, liability or additional living expenses. Because of those limitations, it is not as popular as more robust policy options.\n\nHO-1 insurance is a named perils policy, meaning it only covers your home in specific loss events, which typically include:\n\n- Damage from aircrafts or vehicles\n- Explosions\n- Fire and lightning\n- Hail and windstorms\n- Riots\n- Smoke\n- Theft\n- Vandalism\n- Volcanic eruption\n\nWith an HO-1 policy, your home, attached structures, appliances and home features will only be protected if they are damaged by one of the perils that is specifically listed in your policy. If they incur damage from anything else, you will need to pay for the repairs out of pocket, as any [claim filed](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/filing-a-claim\/) for uncovered losses would be denied by your home insurer. It is worth noting that an HO-1 policy does not include liability, loss of use coverage or medical payments coverage, which are part of standard home policies. Because coverage is so limited, many insurers do not write this type of policy.\n\n**Learn more:** [HO-1 insurance](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/types-of-homeowners-insurance\/)\n\n### **HO–2 insurance**\nAn HO-2 insurance policy is known as a broad form and covers your home and your personal belongings. Most [home insurance companies](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/best-home-insurance-companies\/) will cover your personal belongings up to a specified level if they are at home, in your car or somewhere else, such as an offsite storage facility. HO-2 policies may include [liability coverage](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/personal-liability-insurance\/) in some circumstances. To determine if your HO-2 policy includes liability coverage, contact your insurance carrier directly.\n\nLike an HO-1 policy, HO-2 insurance is a named perils policy that covers your home and your personal items from the losses that are listed in your policy. Typically, the losses found in an HO-2 policy are similar to the ones in an HO-1, but may include a few additional ones:\n\n- Accidental discharge or overflow of water or steam within the home\n- A falling object\n- Freezing of pipes and heating and air conditioning systems\n- Sudden and accidental damage from certain electrical currents\n- Tearing apart, burning, cracking from some household systems\n- Weight from ice, snow or sleet\n\n**Learn more:** [HO-2 insurance](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/types-of-homeowners-insurance\/)\n\n### **HO-3 insurance**\nThe most common type of homeowners insurance is the HO-3 policy — accounting for more than 90 percent of all home policies written in the U.S. — which covers your home, your personal property, liability, additional living expenses and medical payments. Unlike an HO-1 and HO-2 policy, your home and attached structures are protected on an open-peril basis; they are protected from all kinds of losses except the ones that are specifically [excluded from your policy](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/homeowners-insurance-exclusions\/).\n\nPersonal finance and insurance expert [Laura Adams](https:\/\/www.bankrate.com\/authors\/laura-adams\/) says, “An HO-3 is considered the standard coverage. It gives you ‘open perils’ coverage for your home structure, which protects you from all disasters unless the policy lists exceptions. However, you receive ‘named perils’ coverage for personal possessions, which applies to disasters named in the policy.”\n\nYour home and other structures typically have the following perils excluded:\n\n- Any animals owned by the insured\n- Birds, rodents, varmint\n- Defective construction or maintenance\n- Earth movement\n- Flood\n- Foundation issues\n- Government actions\n- Intentional loss\n- Mechanical breakdown\n- Mold, fungus, wet rot\n- Neglect\n- Nuclear hazard\n- Ordinance or law\n- Pet or animal damage\n- Pollution and corrosion\n- Power failure\n- Smog, rust, or corrosion\n- Theft, vandalism and frozen pipes in vacant houses\n- Wear and tear\n- War and insurrection\n\nAlthough floods and earthquakes are not covered by a standard HO-3 policy, you may be able to get an endorsement or separate [flood insurance](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/flood-insurance\/) or [earthquake policy](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/what-disasters-does-homeowners-insurance-cover\/) to meet these coverage needs.\n\n- Damage from aircrafts or vehicles\n- Damage from the weight of snow or ice\n- Damages caused by an electrical current\n- Explosions\n- Falling objects\n- Fire and lightning\n- Hail and windstorms\n- Pipes freezing\n- Riots\n- Smoke\n- Theft\n- Vandalism\n- Volcanic eruptions\n- Water damage from plumbing or HVAC overflow\n- Water heater damage\n\n**Learn more:** [HO-3 insurance](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/ho3\/)\n\n### **HO–4 insurance**\nAn HO-4 policy, also known as [renters insurance](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/best-renters-insurance-companies\/), is intended for renters who want to insure their personal belongings and get additional coverage, like liability and additional living expenses. An HO-4 is not technically a “homeowners” policy, as renters don’t own the property where they are living, which is why this policy type excludes coverage for the building’s structure, whether it is a single-family home or multi-family structure like an apartment building. Renters would need to purchase separate coverage for flood and earthquake damage.\n\nRenters insurance policies are usually named perils policies that cover the following events:\n\n- Damage from aircrafts or vehicles\n- Damage from the weight of snow or ice\n- Damages caused by an electrical current\n- Explosions\n- Falling objects\n- Fire and lightning\n- Hail and windstorms\n- Pipes freezing\n- Riots\n- Smoke\n- Theft\n- Vandalism\n- Volcanic eruptions\n- Water damage from plumbing or HVAC overflow\n- Water heater damage\n\n**Learn more:** [HO-4 insurance](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/types-of-homeowners-insurance\/)\n\n### **HO–5 insurance**\nAn HO-5 policy is the most robust option available, covering your home, your personal belongings, liability, additional living expenses and medical payments for others. It typically covers personal possessions at replacement cost value versus actual cash value. These policies may also have higher coverage limits for personal possessions like jewelry compared to the more common [HO-3 policy](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/types-of-homeowners-insurance\/). However, not all home insurers offer HO-5 policies and not all homeowners will be able to purchase an HO-5 policy due to the strict qualification guidelines.\n\nTo get an HO-5 policy, your home typically needs to be newer construction, have higher than average replacement cost value, and\/or located in a low-risk area for natural disasters.\n\nAdams discusses how an HO-5 policy could be beneficial for individuals with high-value items. She says, “It typically costs more and may not be offered by every insurer, but could be worth it if you have many valuable possessions.”\n\nWith an HO-5 policy, your home and your personal items are both covered on an open perils basis. Some common exclusions include:\n\n- Earth movement\n- Government actions or laws\n- Infestation of birds, rodents or insects\n- Intentional loss\n- Mechanical breakdown\n- Mold\n- Nuclear hazard\n- Pets\n- Vandalism if the property is vacant more than two months\n- War and insurrection\n- Water damages from floods or sewer backup\n\nBecause an HO-5 policy is written on an open perils basis rather than on a named perils basis, it covers more circumstances and can make it easier to get coverage when you file a claim. Because of its higher coverage limits for personal property, an HO-5 policy is usually more expensive than a standard HO-3.\n\n**Learn more:** [HO-5 insurance](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/types-of-homeowners-insurance\/)\n\n### **HO–6 insurance**\nHO-6 insurance is specifically for condo owners. These policies exclude the structure of the condo and anything else that would fall under the overarching policy for the condo facilities insurance policy. Instead, the HO-6 covers your belongings, some appliances and devices within the condo, personal liability and additional living expenses. The structure and features are generally covered under a master insurance policy written for the entire collection of condos and the surrounding property of common areas, such as pools, laundry rooms or social rooms. HOA fees are commonly charged to condo owners to help cover these collective, overarching insurance policies.\n\nIt is important to have enough coverage in your condo policy to not only pay off your mortgage, but to purchase a similar unit if your building is damaged or destroyed and you need to move elsewhere. For flood and earthquake coverage, separate coverage would need to be purchased.\n\nHO-6 policies are named perils policies that generally cover:\n\n- Damage from aircrafts or vehicles\n- Damage from the weight of snow or ice\n- Damages caused by an electrical current\n- Explosions\n- Falling objects\n- Fire and lightning\n- Hail and windstorms\n- Pipes freezing\n- Riots\n- Smoke\n- Theft\n- Vandalism\n- Volcanic eruptions\n- Water damage from plumbing or HVAC overflow\n- Water heater damage\n\n**Learn more:** HO-6 insurance\n\n### **HO–7 insurance**\nAn HO-7 insurance policy covers mobile or manufactured homes, including trailers, sectional homes, RVs and modular homes. This type of policy provides coverage for your home’s structure, your personal belongings, liability, additional living expenses and medical payments. Flood and earthquake coverage would need to be purchased separately.\n\nThe exterior of your home is covered under an open perils policy, which covers any situation that is not explicitly stated in your insurance policy.\n\nHowever, HO-7 policies cover your personal belongings under a named perils policy. That means your personal items are only covered under a specific list of circumstances, including:\n\n- Damage from aircrafts or vehicles\n- Explosions\n- Fire and lightning\n- Hail and windstorms\n- Riots\n- Smoke\n- Theft\n- Vandalism\n### **HO–8 insurance**\nHO-8 insurance rounds out the eight types of home insurance policies. This type of home insurance is generally considered best for old or [historic homes](https:\/\/www.bankrate.com\/mortgages\/how-to-buy-a-house\/) that may have a relatively high rebuild cost because of their age, design or materials. Homes that have been designated as historic landmarks may do well with such a policy, as would older homes that use less common design features and materials. If it would cost more to repair your damaged home than its current value, an HO-8 policy may be a suitable option.\n\nHO-8 policies include the standard coverage for dwelling, personal property, liability, additional living expenses and medical payments. Both your home’s structure and your personal property are covered under a named perils policy. This includes events such as:\n\n- Damage from aircraft or vehicles\n- Explosions\n- Fire and lightning\n- Hail and windstorms\n- Riots\n- Smoke\n- Theft\n- Vandalism\n- Volcanic eruption\n\nLike a standard home policy, flood and earthquake coverage would need to be purchased separately.\n\n## **How do I choose the right home insurance policy?**\nDepending on your living situation, some types of homeowners insurance may be better choices than others. For instance, some policies are geared toward renters, condo owners, mobile homes, [landlords](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/best-landlord-insurance\/) or homeowners living in their homes. The first step is going to be identifying which category fits you best.\n\n- **If you live in a relatively modern home** that you own on a mortgage or otherwise, you may be best with an HO-3, the most common home insurance policy.\n- **If you live in a rental property**, you might consider an HO-4.\n- **If you live in a mobile home**, you may do best with an HO-7.\n- **If you live in a condo that you own**, then you should consider an HO-6.\n- **If you live in a historic home that you own**, you might consider an HO-8.\n- **If you have a lot of high-value personal items** and want the maximum amount of protection possible, an insurer may offer you an HO-5 policy.\n- **If you’re looking for a standard home insurance policy** with slightly less protection and reduced cost, you may want an HO-2.\n- **If you’re looking for a minimalist policy** that only covers the structure of your home, attached building and certain appliances, you may want an HO-1.\n\nUltimately, the type of policy you choose should meet your needs, provide adequate financial protection, and not [cost](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/homeowners-insurance-cost\/) more than your budget allows.\n\n## **Frequently asked questions**\nDid you find this page helpful?\n\nHelp us improve our content","meta_canonical":null}

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Boilerpipe Text	There are eight home insurance policy types to choose from. The type that’s best for you depends on whether you rent or own and the type of home you have. HO-1: The most basic and limited form of homeowners insurance for single-family homes, this type does not include coverage for belongings and is rarely offered by insurers today. HO-2: A step up from an HO-1 policy, this policy type does include coverage for belongings, but in general offers fewer financial protections than an HO-3 policy. HO-3: The most common homeowners insurance policy for single-family homes, this type offers broader financial protection for your structures and belongings against a wider range of risks. HO-4: Known as renters insurance, this policy type covers personal property, liability, and tenant’s loss of use. HO-5: A highly comprehensive (and expensive) policy for single-family homes, this policy type provides the most extensive coverage available. HO-6: Designed specifically for condo owners, this policy covers the interior structure from the studs in and personal belongings. HO-7: Tailored for manufactured and mobile home owners, this policy type offers coverage similar to an HO-3 policy but for non-permanent structures. HO-8: A specialized policy for older or historic homes, this coverage types can step in where the cost to rebuild exceeds the home’s market value. HO–1 insurance An HO-1 is the most basic homeowners insurance policy. It only provides coverage for the structure of your home, attached structures like garages and appliances and home features like carpeting. It does not include coverage for personal property, liability or additional living expenses. Because of those limitations, it is not as popular as more robust policy options. HO-1 insurance is a named perils policy, meaning it only covers your home in specific loss events, which typically include: Damage from aircrafts or vehicles Explosions Fire and lightning Hail and windstorms Riots Smoke Theft Vandalism Volcanic eruption With an HO-1 policy, your home, attached structures, appliances and home features will only be protected if they are damaged by one of the perils that is specifically listed in your policy. If they incur damage from anything else, you will need to pay for the repairs out of pocket, as any claim filed for uncovered losses would be denied by your home insurer. It is worth noting that an HO-1 policy does not include liability, loss of use coverage or medical payments coverage, which are part of standard home policies. Because coverage is so limited, many insurers do not write this type of policy. Learn more: HO-1 insurance HO–2 insurance An HO-2 insurance policy is known as a broad form and covers your home and your personal belongings. Most home insurance companies will cover your personal belongings up to a specified level if they are at home, in your car or somewhere else, such as an offsite storage facility. HO-2 policies may include liability coverage in some circumstances. To determine if your HO-2 policy includes liability coverage, contact your insurance carrier directly. Like an HO-1 policy, HO-2 insurance is a named perils policy that covers your home and your personal items from the losses that are listed in your policy. Typically, the losses found in an HO-2 policy are similar to the ones in an HO-1, but may include a few additional ones: Accidental discharge or overflow of water or steam within the home A falling object Freezing of pipes and heating and air conditioning systems Sudden and accidental damage from certain electrical currents Tearing apart, burning, cracking from some household systems Weight from ice, snow or sleet Learn more: HO-2 insurance HO-3 insurance The most common type of homeowners insurance is the HO-3 policy — accounting for more than 90 percent of all home policies written in the U.S. — which covers your home, your personal property, liability, additional living expenses and medical payments. Unlike an HO-1 and HO-2 policy, your home and attached structures are protected on an open-peril basis; they are protected from all kinds of losses except the ones that are specifically excluded from your policy . Personal finance and insurance expert Laura Adams says, “An HO-3 is considered the standard coverage. It gives you ‘open perils’ coverage for your home structure, which protects you from all disasters unless the policy lists exceptions. However, you receive ‘named perils’ coverage for personal possessions, which applies to disasters named in the policy.” Your home and other structures typically have the following perils excluded: Any animals owned by the insured Birds, rodents, varmint Defective construction or maintenance Earth movement Flood Foundation issues Government actions Intentional loss Mechanical breakdown Mold, fungus, wet rot Neglect Nuclear hazard Ordinance or law Pet or animal damage Pollution and corrosion Power failure Smog, rust, or corrosion Theft, vandalism and frozen pipes in vacant houses Wear and tear War and insurrection Although floods and earthquakes are not covered by a standard HO-3 policy, you may be able to get an endorsement or separate flood insurance or earthquake policy to meet these coverage needs. Damage from aircrafts or vehicles Damage from the weight of snow or ice Damages caused by an electrical current Explosions Falling objects Fire and lightning Hail and windstorms Pipes freezing Riots Smoke Theft Vandalism Volcanic eruptions Water damage from plumbing or HVAC overflow Water heater damage Learn more: HO-3 insurance HO–4 insurance An HO-4 policy, also known as renters insurance , is intended for renters who want to insure their personal belongings and get additional coverage, like liability and additional living expenses. An HO-4 is not technically a “homeowners” policy, as renters don’t own the property where they are living, which is why this policy type excludes coverage for the building’s structure, whether it is a single-family home or multi-family structure like an apartment building. Renters would need to purchase separate coverage for flood and earthquake damage. Renters insurance policies are usually named perils policies that cover the following events: Damage from aircrafts or vehicles Damage from the weight of snow or ice Damages caused by an electrical current Explosions Falling objects Fire and lightning Hail and windstorms Pipes freezing Riots Smoke Theft Vandalism Volcanic eruptions Water damage from plumbing or HVAC overflow Water heater damage Learn more: HO-4 insurance HO–5 insurance An HO-5 policy is the most robust option available, covering your home, your personal belongings, liability, additional living expenses and medical payments for others. It typically covers personal possessions at replacement cost value versus actual cash value. These policies may also have higher coverage limits for personal possessions like jewelry compared to the more common HO-3 policy . However, not all home insurers offer HO-5 policies and not all homeowners will be able to purchase an HO-5 policy due to the strict qualification guidelines. To get an HO-5 policy, your home typically needs to be newer construction, have higher than average replacement cost value, and/or located in a low-risk area for natural disasters. Adams discusses how an HO-5 policy could be beneficial for individuals with high-value items. She says, “It typically costs more and may not be offered by every insurer, but could be worth it if you have many valuable possessions.” With an HO-5 policy, your home and your personal items are both covered on an open perils basis. Some common exclusions include: Earth movement Government actions or laws Infestation of birds, rodents or insects Intentional loss Mechanical breakdown Mold Nuclear hazard Pets Vandalism if the property is vacant more than two months War and insurrection Water damages from floods or sewer backup Because an HO-5 policy is written on an open perils basis rather than on a named perils basis, it covers more circumstances and can make it easier to get coverage when you file a claim. Because of its higher coverage limits for personal property, an HO-5 policy is usually more expensive than a standard HO-3. Learn more: HO-5 insurance HO–6 insurance HO-6 insurance is specifically for condo owners. These policies exclude the structure of the condo and anything else that would fall under the overarching policy for the condo facilities insurance policy. Instead, the HO-6 covers your belongings, some appliances and devices within the condo, personal liability and additional living expenses. The structure and features are generally covered under a master insurance policy written for the entire collection of condos and the surrounding property of common areas, such as pools, laundry rooms or social rooms. HOA fees are commonly charged to condo owners to help cover these collective, overarching insurance policies. It is important to have enough coverage in your condo policy to not only pay off your mortgage, but to purchase a similar unit if your building is damaged or destroyed and you need to move elsewhere. For flood and earthquake coverage, separate coverage would need to be purchased. HO-6 policies are named perils policies that generally cover: Damage from aircrafts or vehicles Damage from the weight of snow or ice Damages caused by an electrical current Explosions Falling objects Fire and lightning Hail and windstorms Pipes freezing Riots Smoke Theft Vandalism Volcanic eruptions Water damage from plumbing or HVAC overflow Water heater damage Learn more: HO-6 insurance HO–7 insurance An HO-7 insurance policy covers mobile or manufactured homes, including trailers, sectional homes, RVs and modular homes. This type of policy provides coverage for your home’s structure, your personal belongings, liability, additional living expenses and medical payments. Flood and earthquake coverage would need to be purchased separately. The exterior of your home is covered under an open perils policy, which covers any situation that is not explicitly stated in your insurance policy. However, HO-7 policies cover your personal belongings under a named perils policy. That means your personal items are only covered under a specific list of circumstances, including: Damage from aircrafts or vehicles Explosions Fire and lightning Hail and windstorms Riots Smoke Theft Vandalism HO–8 insurance HO-8 insurance rounds out the eight types of home insurance policies. This type of home insurance is generally considered best for old or historic homes that may have a relatively high rebuild cost because of their age, design or materials. Homes that have been designated as historic landmarks may do well with such a policy, as would older homes that use less common design features and materials. If it would cost more to repair your damaged home than its current value, an HO-8 policy may be a suitable option. HO-8 policies include the standard coverage for dwelling, personal property, liability, additional living expenses and medical payments. Both your home’s structure and your personal property are covered under a named perils policy. This includes events such as: Damage from aircraft or vehicles Explosions Fire and lightning Hail and windstorms Riots Smoke Theft Vandalism Volcanic eruption Like a standard home policy, flood and earthquake coverage would need to be purchased separately. How do I choose the right home insurance policy? Depending on your living situation, some types of homeowners insurance may be better choices than others. For instance, some policies are geared toward renters, condo owners, mobile homes, landlords or homeowners living in their homes. The first step is going to be identifying which category fits you best. If you live in a relatively modern home that you own on a mortgage or otherwise, you may be best with an HO-3, the most common home insurance policy. If you live in a rental property , you might consider an HO-4. If you live in a mobile home , you may do best with an HO-7. If you live in a condo that you own , then you should consider an HO-6. If you live in a historic home that you own , you might consider an HO-8. If you have a lot of high-value personal items and want the maximum amount of protection possible, an insurer may offer you an HO-5 policy. If you’re looking for a standard home insurance policy with slightly less protection and reduced cost, you may want an HO-2. If you’re looking for a minimalist policy that only covers the structure of your home, attached building and certain appliances, you may want an HO-1. Ultimately, the type of policy you choose should meet your needs, provide adequate financial protection, and not cost more than your budget allows. 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Types of homeowners insurance Advertiser Disclosure # Types of homeowners insurance ![Joshua Cox-Steib](https://www.bankrate.com/2021/03/31180836/Joshua-Cox-Steib-Headshot.jpg?auto=webp&quality=85&width=24&height=24&fit=cover&enable=upscale&crop=1:1,smart) ![Maggie Kempken](https://www.bankrate.com/2021/06/08090323/magkemp.jpg?auto=webp&quality=85&width=24&height=24&fit=cover&enable=upscale&crop=1:1,smart) ![Mark Friedlander](https://www.bankrate.com/2021/06/21095241/Friedlander.jpg?auto=webp&quality=85&width=24&height=24&fit=cover&enable=upscale&crop=1:1,smart) Written by Joshua Cox-Steib , ![](https://www.bankrate.com/2021/03/31180836/Joshua-Cox-Steib-Headshot.jpg?auto=webp&quality=85&width=64&height=64&fit=cover&enable=upscale&crop=1:1,smart) [Joshua Cox-Steib](https://www.bankrate.com/authors/joshua-cox-steib/) Contributor, Personal Finance Expertise - • Life insurance - • Auto insurance Joshua Cox-Steib has two years of experience in writing for insurance domains such as Bankrate, Coverage.com, The Simple Dollar, Reviews.com, and more. His work has also been featured on such sites as MSN and BBB (Better Business Bureau). His insurance writing career has spanned across multiple product lines, with a primary focus on auto insurance, life insurance, and home insurance. [Read more](https://www.bankrate.com/authors/joshua-cox-steib/) - [Get in contact with Joshua Cox-Steib via Email](mailto:info@bankrate.com) Close [Joshua Cox-Steib](https://www.bankrate.com/authors/joshua-cox-steib/), Edited by Maggie Kempken , ![](https://www.bankrate.com/2021/06/08090323/magkemp.jpg?auto=webp&quality=85&width=64&height=64&fit=cover&enable=upscale&crop=1:1,smart) [Maggie Kempken](https://www.bankrate.com/authors/maggie-kempken/) Managing Editor, Mortgages & Home Equity Expertise - • Mortgages - • Home equity loans Maggie is the managing editor for Bankrate mortgages, home equity and personal finance. She oversees the day-to-day operations of the home lending editorial team and leads a team of personal finance experts who help make home loans and other personal finance topics accessible and easy to understand. [Read more](https://www.bankrate.com/authors/maggie-kempken/) Close [Maggie Kempken](https://www.bankrate.com/authors/maggie-kempken/), Reviewed by Mark Friedlander , ![](https://www.bankrate.com/2021/06/21095241/Friedlander.jpg?auto=webp&quality=85&width=64&height=64&fit=cover&enable=upscale&crop=1:1,smart) [Mark Friedlander](https://www.bankrate.com/authors/mark-friedlander/) Director of corporate communications, Insurance Information Institute Expertise - • Insurance Mark Friedlander is director of corporate communications at III, a nonprofit organization focused on providing consumers with a better understanding of insurance. 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[About our Review Board](https://www.bankrate.com/financial-review-board/) Close [Expert verified](https://www.bankrate.com/financial-review-board/) Published on August 07, 2025 \\| 8 min read Bankrate is always editorially independent. To help readers understand how insurance affects their finances, we have licensed insurance professionals on staff who have spent a combined 47 years in the auto, home and life insurance industries. While we adhere to strict editorial integrity , this post may contain references to products from our partners. Here's an explanation of how we make money . Our content is backed by [Coverage.com,](https://www.coverage.com/ "Coverage.com") LLC, a licensed entity (NPN: 19966249). For more information, please see our Insurance Disclosure . Our Bankrate promise is to ensure everything we publish is objective, accurate and trustworthy. ![Row of houses on a clear sunny day](https://www.bankrate.com/2020/03/25124058/Types-of-House-Insurance.png?auto=webp&optimize=high&crop=16:9) GaryAlvis/Getty Images Table of contents - [HO-1 policies](https://www.bankrate.com/insurance/homeowners-insurance/types-of-homeowners-insurance/#ho1) - [HO-2 policies](https://www.bankrate.com/insurance/homeowners-insurance/types-of-homeowners-insurance/#ho2) - [HO-3 policies](https://www.bankrate.com/insurance/homeowners-insurance/types-of-homeowners-insurance/#ho3) - [HO-4 policies](https://www.bankrate.com/insurance/homeowners-insurance/types-of-homeowners-insurance/#ho4) - [HO-5 policies](https://www.bankrate.com/insurance/homeowners-insurance/types-of-homeowners-insurance/#ho5) - [HO-6 policies](https://www.bankrate.com/insurance/homeowners-insurance/types-of-homeowners-insurance/#ho6) - [HO-7 policies](https://www.bankrate.com/insurance/homeowners-insurance/types-of-homeowners-insurance/#ho7) - [HO-8 policies](https://www.bankrate.com/insurance/homeowners-insurance/types-of-homeowners-insurance/#ho8) - [How do I choose the right home insurance policy?](https://www.bankrate.com/insurance/homeowners-insurance/types-of-homeowners-insurance/#how-do-i-choose-the-right-home-insurance-policy) - [Frequently asked questions](https://www.bankrate.com/insurance/homeowners-insurance/types-of-homeowners-insurance/#frequently-asked-questions) Table of contents Back to top There are eight home insurance policy types to choose from. The type that’s best for you depends on whether you rent or own and the type of home you have. - HO-1: The most basic and limited form of homeowners insurance for single-family homes, this type does not include coverage for belongings and is rarely offered by insurers today. - HO-2: A step up from an HO-1 policy, this policy type does include coverage for belongings, but in general offers fewer financial protections than an HO-3 policy. - HO-3: The most common homeowners insurance policy for single-family homes, this type offers broader financial protection for your structures and belongings against a wider range of risks. - HO-4: Known as renters insurance, this policy type covers personal property, liability, and tenant’s loss of use. - HO-5: A highly comprehensive (and expensive) policy for single-family homes, this policy type provides the most extensive coverage available. - HO-6: Designed specifically for condo owners, this policy covers the interior structure from the studs in and personal belongings. - HO-7: Tailored for manufactured and mobile home owners, this policy type offers coverage similar to an HO-3 policy but for non-permanent structures. - HO-8: A specialized policy for older or historic homes, this coverage types can step in where the cost to rebuild exceeds the home’s market value. ### HO–1 insurance An HO-1 is the most basic homeowners insurance policy. It only provides coverage for the structure of your home, attached structures like garages and appliances and home features like carpeting. It does not include coverage for personal property, liability or additional living expenses. Because of those limitations, it is not as popular as more robust policy options. HO-1 insurance is a named perils policy, meaning it only covers your home in specific loss events, which typically include: - Damage from aircrafts or vehicles - Explosions - Fire and lightning - Hail and windstorms - Riots - Smoke - Theft - Vandalism - Volcanic eruption With an HO-1 policy, your home, attached structures, appliances and home features will only be protected if they are damaged by one of the perils that is specifically listed in your policy. If they incur damage from anything else, you will need to pay for the repairs out of pocket, as any [claim filed](https://www.bankrate.com/insurance/homeowners-insurance/filing-a-claim/) for uncovered losses would be denied by your home insurer. It is worth noting that an HO-1 policy does not include liability, loss of use coverage or medical payments coverage, which are part of standard home policies. Because coverage is so limited, many insurers do not write this type of policy. Learn more: [HO-1 insurance](https://www.bankrate.com/insurance/homeowners-insurance/types-of-homeowners-insurance/) ### HO–2 insurance An HO-2 insurance policy is known as a broad form and covers your home and your personal belongings. Most [home insurance companies](https://www.bankrate.com/insurance/homeowners-insurance/best-home-insurance-companies/) will cover your personal belongings up to a specified level if they are at home, in your car or somewhere else, such as an offsite storage facility. HO-2 policies may include [liability coverage](https://www.bankrate.com/insurance/homeowners-insurance/personal-liability-insurance/) in some circumstances. To determine if your HO-2 policy includes liability coverage, contact your insurance carrier directly. Like an HO-1 policy, HO-2 insurance is a named perils policy that covers your home and your personal items from the losses that are listed in your policy. Typically, the losses found in an HO-2 policy are similar to the ones in an HO-1, but may include a few additional ones: - Accidental discharge or overflow of water or steam within the home - A falling object - Freezing of pipes and heating and air conditioning systems - Sudden and accidental damage from certain electrical currents - Tearing apart, burning, cracking from some household systems - Weight from ice, snow or sleet Learn more: [HO-2 insurance](https://www.bankrate.com/insurance/homeowners-insurance/types-of-homeowners-insurance/) ### HO-3 insurance The most common type of homeowners insurance is the HO-3 policy — accounting for more than 90 percent of all home policies written in the U.S. — which covers your home, your personal property, liability, additional living expenses and medical payments. Unlike an HO-1 and HO-2 policy, your home and attached structures are protected on an open-peril basis; they are protected from all kinds of losses except the ones that are specifically [excluded from your policy](https://www.bankrate.com/insurance/homeowners-insurance/homeowners-insurance-exclusions/). Personal finance and insurance expert [Laura Adams](https://www.bankrate.com/authors/laura-adams/) says, “An HO-3 is considered the standard coverage. It gives you ‘open perils’ coverage for your home structure, which protects you from all disasters unless the policy lists exceptions. However, you receive ‘named perils’ coverage for personal possessions, which applies to disasters named in the policy.” Your home and other structures typically have the following perils excluded: - Any animals owned by the insured - Birds, rodents, varmint - Defective construction or maintenance - Earth movement - Flood - Foundation issues - Government actions - Intentional loss - Mechanical breakdown - Mold, fungus, wet rot - Neglect - Nuclear hazard - Ordinance or law - Pet or animal damage - Pollution and corrosion - Power failure - Smog, rust, or corrosion - Theft, vandalism and frozen pipes in vacant houses - Wear and tear - War and insurrection Although floods and earthquakes are not covered by a standard HO-3 policy, you may be able to get an endorsement or separate [flood insurance](https://www.bankrate.com/insurance/homeowners-insurance/flood-insurance/) or [earthquake policy](https://www.bankrate.com/insurance/homeowners-insurance/what-disasters-does-homeowners-insurance-cover/) to meet these coverage needs. - Damage from aircrafts or vehicles - Damage from the weight of snow or ice - Damages caused by an electrical current - Explosions - Falling objects - Fire and lightning - Hail and windstorms - Pipes freezing - Riots - Smoke - Theft - Vandalism - Volcanic eruptions - Water damage from plumbing or HVAC overflow - Water heater damage Learn more: [HO-3 insurance](https://www.bankrate.com/insurance/homeowners-insurance/ho3/) ### HO–4 insurance An HO-4 policy, also known as [renters insurance](https://www.bankrate.com/insurance/homeowners-insurance/best-renters-insurance-companies/), is intended for renters who want to insure their personal belongings and get additional coverage, like liability and additional living expenses. An HO-4 is not technically a “homeowners” policy, as renters don’t own the property where they are living, which is why this policy type excludes coverage for the building’s structure, whether it is a single-family home or multi-family structure like an apartment building. Renters would need to purchase separate coverage for flood and earthquake damage. Renters insurance policies are usually named perils policies that cover the following events: - Damage from aircrafts or vehicles - Damage from the weight of snow or ice - Damages caused by an electrical current - Explosions - Falling objects - Fire and lightning - Hail and windstorms - Pipes freezing - Riots - Smoke - Theft - Vandalism - Volcanic eruptions - Water damage from plumbing or HVAC overflow - Water heater damage Learn more: [HO-4 insurance](https://www.bankrate.com/insurance/homeowners-insurance/types-of-homeowners-insurance/) ### HO–5 insurance An HO-5 policy is the most robust option available, covering your home, your personal belongings, liability, additional living expenses and medical payments for others. It typically covers personal possessions at replacement cost value versus actual cash value. These policies may also have higher coverage limits for personal possessions like jewelry compared to the more common [HO-3 policy](https://www.bankrate.com/insurance/homeowners-insurance/types-of-homeowners-insurance/). However, not all home insurers offer HO-5 policies and not all homeowners will be able to purchase an HO-5 policy due to the strict qualification guidelines. To get an HO-5 policy, your home typically needs to be newer construction, have higher than average replacement cost value, and/or located in a low-risk area for natural disasters. Adams discusses how an HO-5 policy could be beneficial for individuals with high-value items. She says, “It typically costs more and may not be offered by every insurer, but could be worth it if you have many valuable possessions.” With an HO-5 policy, your home and your personal items are both covered on an open perils basis. Some common exclusions include: - Earth movement - Government actions or laws - Infestation of birds, rodents or insects - Intentional loss - Mechanical breakdown - Mold - Nuclear hazard - Pets - Vandalism if the property is vacant more than two months - War and insurrection - Water damages from floods or sewer backup Because an HO-5 policy is written on an open perils basis rather than on a named perils basis, it covers more circumstances and can make it easier to get coverage when you file a claim. Because of its higher coverage limits for personal property, an HO-5 policy is usually more expensive than a standard HO-3. Learn more: [HO-5 insurance](https://www.bankrate.com/insurance/homeowners-insurance/types-of-homeowners-insurance/) ### HO–6 insurance HO-6 insurance is specifically for condo owners. These policies exclude the structure of the condo and anything else that would fall under the overarching policy for the condo facilities insurance policy. Instead, the HO-6 covers your belongings, some appliances and devices within the condo, personal liability and additional living expenses. The structure and features are generally covered under a master insurance policy written for the entire collection of condos and the surrounding property of common areas, such as pools, laundry rooms or social rooms. HOA fees are commonly charged to condo owners to help cover these collective, overarching insurance policies. It is important to have enough coverage in your condo policy to not only pay off your mortgage, but to purchase a similar unit if your building is damaged or destroyed and you need to move elsewhere. For flood and earthquake coverage, separate coverage would need to be purchased. HO-6 policies are named perils policies that generally cover: - Damage from aircrafts or vehicles - Damage from the weight of snow or ice - Damages caused by an electrical current - Explosions - Falling objects - Fire and lightning - Hail and windstorms - Pipes freezing - Riots - Smoke - Theft - Vandalism - Volcanic eruptions - Water damage from plumbing or HVAC overflow - Water heater damage Learn more: HO-6 insurance ### HO–7 insurance An HO-7 insurance policy covers mobile or manufactured homes, including trailers, sectional homes, RVs and modular homes. This type of policy provides coverage for your home’s structure, your personal belongings, liability, additional living expenses and medical payments. Flood and earthquake coverage would need to be purchased separately. The exterior of your home is covered under an open perils policy, which covers any situation that is not explicitly stated in your insurance policy. However, HO-7 policies cover your personal belongings under a named perils policy. That means your personal items are only covered under a specific list of circumstances, including: - Damage from aircrafts or vehicles - Explosions - Fire and lightning - Hail and windstorms - Riots - Smoke - Theft - Vandalism ### HO–8 insurance HO-8 insurance rounds out the eight types of home insurance policies. This type of home insurance is generally considered best for old or [historic homes](https://www.bankrate.com/mortgages/how-to-buy-a-house/) that may have a relatively high rebuild cost because of their age, design or materials. Homes that have been designated as historic landmarks may do well with such a policy, as would older homes that use less common design features and materials. If it would cost more to repair your damaged home than its current value, an HO-8 policy may be a suitable option. HO-8 policies include the standard coverage for dwelling, personal property, liability, additional living expenses and medical payments. Both your home’s structure and your personal property are covered under a named perils policy. This includes events such as: - Damage from aircraft or vehicles - Explosions - Fire and lightning - Hail and windstorms - Riots - Smoke - Theft - Vandalism - Volcanic eruption Like a standard home policy, flood and earthquake coverage would need to be purchased separately. ## How do I choose the right home insurance policy? Depending on your living situation, some types of homeowners insurance may be better choices than others. For instance, some policies are geared toward renters, condo owners, mobile homes, [landlords](https://www.bankrate.com/insurance/homeowners-insurance/best-landlord-insurance/) or homeowners living in their homes. The first step is going to be identifying which category fits you best. - If you live in a relatively modern home that you own on a mortgage or otherwise, you may be best with an HO-3, the most common home insurance policy. - If you live in a rental property, you might consider an HO-4. - If you live in a mobile home, you may do best with an HO-7. - If you live in a condo that you own, then you should consider an HO-6. - If you live in a historic home that you own, you might consider an HO-8. - If you have a lot of high-value personal items and want the maximum amount of protection possible, an insurer may offer you an HO-5 policy. - If you’re looking for a standard home insurance policy with slightly less protection and reduced cost, you may want an HO-2. - If you’re looking for a minimalist policy that only covers the structure of your home, attached building and certain appliances, you may want an HO-1. Ultimately, the type of policy you choose should meet your needs, provide adequate financial protection, and not [cost](https://www.bankrate.com/insurance/homeowners-insurance/homeowners-insurance-cost/) more than your budget allows. ![Bankrate and Coverage Logo](https://www.bankrate.com/v7.114.0/next/img/insurance/bankrate-and-coverage-logo.png?auto=webp&optimize=high) Powered by Coverage.com (NPN: 19966249) [Advertising disclosure]() This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. 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The information on this site does not modify any insurance policy terms in any way. ![Bankrate and Coverage Logo](https://www.bankrate.com/v7.114.0/next/img/insurance/bankrate-and-coverage-logo.png?auto=webp&optimize=high) Powered by Coverage.com (NPN: 19966249) [Advertising disclosure]() This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions. [Insurance disclosure](https://www.bankrate.com/insurance/homeowners-insurance/types-of-homeowners-insurance/) Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in [states where it is licensed](https://www.coverage.com/insurance-licenses/). Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way. ### Compare home insurance rates Answer a few questions to see personalized rates from top carriers. Do you own or rent this home? Own Rent ZIP Code Your information is kept secure Please enter a valid 5-digit ZIP Code Continue Powered by Coverage.com (NPN: 19966249) [Advertising disclosure]() This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions. [Insurance disclosure](https://www.bankrate.com/insurance/homeowners-insurance/types-of-homeowners-insurance/) Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in [states where it is licensed](https://www.coverage.com/insurance-licenses/). Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way. ## Frequently asked questions - ### What is the cheapest home insurance? Home insurance rates can vary significantly between people, properties, policies and carriers. The [cheapest home insurance](https://www.bankrate.com/insurance/homeowners-insurance/cheap-homeowners-insurance/) for you may not be the cheapest for a friend. Where your home is located, when it was built, what types of materials it has, what types and levels of coverage you have and much more go into [calculating your premium](https://www.bankrate.com/insurance/homeowners-insurance/factors-that-impact-home-insurance-rates/). In general, there are a few things you can do when looking for the cheapest policy. You can prioritize carriers with low average rates, focus on companies that offer several discounts and consider taking on increased risk by raising your deductible or lowering your coverage, to name a few approaches. If you choose to take on more risk, it’s wise to speak with an insurance expert before reducing your coverage or raising your deductibles, as both moves can result in you paying more out-of-pocket if a peril occurs. - ### Can I decide to make my homeowners insurance named peril or open peril? Customers may select carriers that offer options between named and open peril policies, but these decisions are ultimately up to the insurance carrier. The most common form of home insurance, the HO-3, uses a combination of open and named peril. The structures are covered under open peril, with a list of exceptions, and personal belongings are covered under named peril. Open peril policies cover any damaging event that isn’t excluded, as opposed to named peril policies, which only cover damaging events that are specifically named within the policy. It is also possible to round out your named peril policy by adding further [insurance endorsements](https://www.bankrate.com/insurance/homeowners-insurance/policy-endorsements/). - ### Is homeowners insurance required? Traditionally, home insurance is not legally required by the state or federal government. Mortgage lenders often require home insurance as a stipulation of the mortgage loan. In general, however, homeowners insurance is the homeowner’s choice and is an optional form of financial protection rather than a mandate. Even if you aren’t required to have home insurance, it can still be a wise choice. Without a policy, homeowners can get stuck paying out-of-pocket for any damages, repairs or replacements. When determining what policy type is right for you, you should know that the eight policy types described on this page follow standard national industry forms created by the Insurance Services Office (ISO, so there is consistency in the policy contract regardless of who your insurer is or where you reside. - ### How much dwelling coverage do I need to replace my home in the event of a catastrophic loss? In general, you’ll want [enough dwelling coverage](https://www.bankrate.com/insurance/homeowners-insurance/how-much-homeowners-insurance/) to replace your home in case of a total loss. How much that takes can vary over time as the cost of materials and rebuilding fluctuates. Material and construction prices, both with and independent of inflation, have fluctuated significantly in the last five or six years. According to the Insurance Information Institute, cumulative replacement costs increased 55 percent between 2019 and 2022 due to supply chain disruption, escalating costs of construction materials and labor shortages. Replacement costs continued to climb by 2.5 percent in 2023. As a result, it is likely wise to speak with your insurance agent and have them do a full assessment of the replacement cost of your home. If your dwelling coverage limit is lower than that, you may want to increase that coverage limit. Did you find this page helpful? Why we ask for feedback Your feedback helps us improve our content and services. It takes less than a minute to complete. Your responses are anonymous and will only be used for improving our website. Help us improve our content Yes No Thank you for your feedback\! Your input helps us improve our content and services. Cite us Share this article Share this article Close ![](https://www.bankrate.com/2021/03/31180836/Joshua-Cox-Steib-Headshot.jpg?auto=webp&quality=85&width=96&height=96&fit=cover&enable=upscale&crop=1:1,smart) Written by [Joshua Cox-Steib](https://www.bankrate.com/authors/joshua-cox-steib/) Contributor, Personal Finance - [Get in contact with Joshua Cox-Steib via Email](mailto:info@bankrate.com) [Read more from Joshua](https://www.bankrate.com/authors/joshua-cox-steib/) Joshua Cox-Steib has two years of experience in writing for insurance domains such as Bankrate, Coverage.com, The Simple Dollar, Reviews.com, and more. His work has also been featured on such sites as MSN and BBB (Better Business Bureau). His insurance writing career has spanned across multiple product lines, with a primary focus on auto insurance, life insurance, and home insurance. ![Row of houses on a clear sunny day](https://www.bankrate.com/2020/03/25124058/Types-of-House-Insurance.png?auto=webp&optimize=high&crop=16:9) GaryAlvis/Getty Images Bankrate is always editorially independent. To help readers understand how insurance affects their finances, we have licensed insurance professionals on staff who have spent a combined 47 years in the auto, home and life insurance industries. While we adhere to strict editorial integrity , this post may contain references to products from our partners. Here's an explanation of how we make money . Our content is backed by [Coverage.com,](https://www.coverage.com/ "Coverage.com") LLC, a licensed entity (NPN: 19966249). For more information, please see our Insurance Disclosure . Our Bankrate promise is to ensure everything we publish is objective, accurate and trustworthy. Table of contents - [HO-1 policies](https://www.bankrate.com/insurance/homeowners-insurance/types-of-homeowners-insurance/#ho1) - [HO-2 policies](https://www.bankrate.com/insurance/homeowners-insurance/types-of-homeowners-insurance/#ho2) - [HO-3 policies](https://www.bankrate.com/insurance/homeowners-insurance/types-of-homeowners-insurance/#ho3) - [HO-4 policies](https://www.bankrate.com/insurance/homeowners-insurance/types-of-homeowners-insurance/#ho4) - [HO-5 policies](https://www.bankrate.com/insurance/homeowners-insurance/types-of-homeowners-insurance/#ho5) - [HO-6 policies](https://www.bankrate.com/insurance/homeowners-insurance/types-of-homeowners-insurance/#ho6) - [HO-7 policies](https://www.bankrate.com/insurance/homeowners-insurance/types-of-homeowners-insurance/#ho7) - [HO-8 policies](https://www.bankrate.com/insurance/homeowners-insurance/types-of-homeowners-insurance/#ho8) - [How do I choose the right home insurance policy?](https://www.bankrate.com/insurance/homeowners-insurance/types-of-homeowners-insurance/#how-do-i-choose-the-right-home-insurance-policy) - [Frequently asked questions](https://www.bankrate.com/insurance/homeowners-insurance/types-of-homeowners-insurance/#frequently-asked-questions) Back to top ## You may also like ![](https://www.bankrate.com/brp/2025/04/16161836/GettyImages-536120850-300x200.jpg) [Excess and surplus lines insurance: What you need to know](https://www.bankrate.com/insurance/homeowners-insurance/surplus-lines-home-coverage/) Homeowners Insurance By [Shannon Martin](https://www.bankrate.com/authors/shannon-martin/) 5 min read ![](https://www.bankrate.com/brp/2025/05/02125203/Insurance-How-to-prep-your-home-for-summer-300x169.jpg) [Summer home prep: How to avoid costly damage and insurance claims](https://www.bankrate.com/insurance/homeowners-insurance/how-to-prep-home-for-summer/) Homeowners Insurance By [Natalie Todoroff](https://www.bankrate.com/authors/natalie-todoroff/) 5 min read ![Photo of a house with old roofing tiles that need to be replaced.](https://www.bankrate.com/2023/04/17095252/Insurance_What-does-homeowners-insurance-cover_.jpg) [What does homeowners insurance cover?](https://www.bankrate.com/insurance/homeowners-insurance/what-does-homeowners-insurance-cover/) Homeowners Insurance By [Natalie Todoroff](https://www.bankrate.com/authors/natalie-todoroff/) 8 min read ![A parent sits on the stoop in front of their home with one baby child in their arms and another, toddler, drawing with chalk on the walkway.](https://www.bankrate.com/2021/08/26104511/How-much-homeowners-insurance-do-I-need.jpg) [How much homeowners insurance do I need?](https://www.bankrate.com/insurance/homeowners-insurance/how-much-homeowners-insurance/) Homeowners Insurance By [Natalie Todoroff](https://www.bankrate.com/authors/natalie-todoroff/) 10 min read ## [Bankrate logo](https://www.bankrate.com/) ### About - [About us](https://www.bankrate.com/about/) - [Leadership](https://www.bankrate.com/leadership/) - [Press room](https://www.bankrate.com/press-releases/) - [Bankrate Data Center](https://www.bankrate.com/data-center/) - [Careers](https://www.bankrate.com/careers/) - [Site map](https://www.bankrate.com/corporate/site-map/) ### Help - [Compare rates](https://www.bankrate.com/compare-rates/) - [Latest news](https://www.bankrate.com/news/) - [Popular topics](https://www.bankrate.com/popular-finance-topics/) - [Advertise with us](https://www.bankrate.com/media-kit/) ### Legal - [Privacy policy](https://www.bankrate.com/privacy/) - Cookie settings - [Do Not Sell or Share My Personal Information](https://www.bankrate.com/do-not-sell-or-share-my-personal-information/) - [Consumer Health Information Privacy Policy](https://www.bankrate.com/consumer-health-information-privacy-policy/) - [Understanding Bankrate’s averages](https://www.bankrate.com/understanding-bankrates-rate-averages/) - [Terms of use](https://www.bankrate.com/terms/) - [GLBA annual notice](https://www.bankrate.com/glba-notice/) - [California Consumer Financial Privacy Notice](https://www.bankrate.com/2022/02/15094901/california-notice.pdf) - [Licenses](https://www.bankrate.com/licenses/) ### How we make money Bankrate.com is an independent, advertising-supported publisher and comparison service. 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Table of contents - [HO-1 policies](https://www.bankrate.com/insurance/homeowners-insurance/types-of-homeowners-insurance/#ho1) - [HO-2 policies](https://www.bankrate.com/insurance/homeowners-insurance/types-of-homeowners-insurance/#ho2) - [HO-3 policies](https://www.bankrate.com/insurance/homeowners-insurance/types-of-homeowners-insurance/#ho3) - [HO-4 policies](https://www.bankrate.com/insurance/homeowners-insurance/types-of-homeowners-insurance/#ho4) - [HO-5 policies](https://www.bankrate.com/insurance/homeowners-insurance/types-of-homeowners-insurance/#ho5) - [HO-6 policies](https://www.bankrate.com/insurance/homeowners-insurance/types-of-homeowners-insurance/#ho6) - [HO-7 policies](https://www.bankrate.com/insurance/homeowners-insurance/types-of-homeowners-insurance/#ho7) - [HO-8 policies](https://www.bankrate.com/insurance/homeowners-insurance/types-of-homeowners-insurance/#ho8) - [How do I choose the right home insurance policy?](https://www.bankrate.com/insurance/homeowners-insurance/types-of-homeowners-insurance/#how-do-i-choose-the-right-home-insurance-policy) - [Frequently asked questions](https://www.bankrate.com/insurance/homeowners-insurance/types-of-homeowners-insurance/#frequently-asked-questions) Quick citation guide Select a citation to automatically copy to clipboard. 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Readable Markdown	There are eight home insurance policy types to choose from. The type that’s best for you depends on whether you rent or own and the type of home you have. - HO-1: The most basic and limited form of homeowners insurance for single-family homes, this type does not include coverage for belongings and is rarely offered by insurers today. - HO-2: A step up from an HO-1 policy, this policy type does include coverage for belongings, but in general offers fewer financial protections than an HO-3 policy. - HO-3: The most common homeowners insurance policy for single-family homes, this type offers broader financial protection for your structures and belongings against a wider range of risks. - HO-4: Known as renters insurance, this policy type covers personal property, liability, and tenant’s loss of use. - HO-5: A highly comprehensive (and expensive) policy for single-family homes, this policy type provides the most extensive coverage available. - HO-6: Designed specifically for condo owners, this policy covers the interior structure from the studs in and personal belongings. - HO-7: Tailored for manufactured and mobile home owners, this policy type offers coverage similar to an HO-3 policy but for non-permanent structures. - HO-8: A specialized policy for older or historic homes, this coverage types can step in where the cost to rebuild exceeds the home’s market value. ### HO–1 insurance An HO-1 is the most basic homeowners insurance policy. It only provides coverage for the structure of your home, attached structures like garages and appliances and home features like carpeting. It does not include coverage for personal property, liability or additional living expenses. Because of those limitations, it is not as popular as more robust policy options. HO-1 insurance is a named perils policy, meaning it only covers your home in specific loss events, which typically include: - Damage from aircrafts or vehicles - Explosions - Fire and lightning - Hail and windstorms - Riots - Smoke - Theft - Vandalism - Volcanic eruption With an HO-1 policy, your home, attached structures, appliances and home features will only be protected if they are damaged by one of the perils that is specifically listed in your policy. If they incur damage from anything else, you will need to pay for the repairs out of pocket, as any [claim filed](https://www.bankrate.com/insurance/homeowners-insurance/filing-a-claim/) for uncovered losses would be denied by your home insurer. It is worth noting that an HO-1 policy does not include liability, loss of use coverage or medical payments coverage, which are part of standard home policies. Because coverage is so limited, many insurers do not write this type of policy. Learn more: [HO-1 insurance](https://www.bankrate.com/insurance/homeowners-insurance/types-of-homeowners-insurance/) ### HO–2 insurance An HO-2 insurance policy is known as a broad form and covers your home and your personal belongings. Most [home insurance companies](https://www.bankrate.com/insurance/homeowners-insurance/best-home-insurance-companies/) will cover your personal belongings up to a specified level if they are at home, in your car or somewhere else, such as an offsite storage facility. HO-2 policies may include [liability coverage](https://www.bankrate.com/insurance/homeowners-insurance/personal-liability-insurance/) in some circumstances. To determine if your HO-2 policy includes liability coverage, contact your insurance carrier directly. Like an HO-1 policy, HO-2 insurance is a named perils policy that covers your home and your personal items from the losses that are listed in your policy. Typically, the losses found in an HO-2 policy are similar to the ones in an HO-1, but may include a few additional ones: - Accidental discharge or overflow of water or steam within the home - A falling object - Freezing of pipes and heating and air conditioning systems - Sudden and accidental damage from certain electrical currents - Tearing apart, burning, cracking from some household systems - Weight from ice, snow or sleet Learn more: [HO-2 insurance](https://www.bankrate.com/insurance/homeowners-insurance/types-of-homeowners-insurance/) ### HO-3 insurance The most common type of homeowners insurance is the HO-3 policy — accounting for more than 90 percent of all home policies written in the U.S. — which covers your home, your personal property, liability, additional living expenses and medical payments. Unlike an HO-1 and HO-2 policy, your home and attached structures are protected on an open-peril basis; they are protected from all kinds of losses except the ones that are specifically [excluded from your policy](https://www.bankrate.com/insurance/homeowners-insurance/homeowners-insurance-exclusions/). Personal finance and insurance expert [Laura Adams](https://www.bankrate.com/authors/laura-adams/) says, “An HO-3 is considered the standard coverage. It gives you ‘open perils’ coverage for your home structure, which protects you from all disasters unless the policy lists exceptions. However, you receive ‘named perils’ coverage for personal possessions, which applies to disasters named in the policy.” Your home and other structures typically have the following perils excluded: - Any animals owned by the insured - Birds, rodents, varmint - Defective construction or maintenance - Earth movement - Flood - Foundation issues - Government actions - Intentional loss - Mechanical breakdown - Mold, fungus, wet rot - Neglect - Nuclear hazard - Ordinance or law - Pet or animal damage - Pollution and corrosion - Power failure - Smog, rust, or corrosion - Theft, vandalism and frozen pipes in vacant houses - Wear and tear - War and insurrection Although floods and earthquakes are not covered by a standard HO-3 policy, you may be able to get an endorsement or separate [flood insurance](https://www.bankrate.com/insurance/homeowners-insurance/flood-insurance/) or [earthquake policy](https://www.bankrate.com/insurance/homeowners-insurance/what-disasters-does-homeowners-insurance-cover/) to meet these coverage needs. - Damage from aircrafts or vehicles - Damage from the weight of snow or ice - Damages caused by an electrical current - Explosions - Falling objects - Fire and lightning - Hail and windstorms - Pipes freezing - Riots - Smoke - Theft - Vandalism - Volcanic eruptions - Water damage from plumbing or HVAC overflow - Water heater damage Learn more: [HO-3 insurance](https://www.bankrate.com/insurance/homeowners-insurance/ho3/) ### HO–4 insurance An HO-4 policy, also known as [renters insurance](https://www.bankrate.com/insurance/homeowners-insurance/best-renters-insurance-companies/), is intended for renters who want to insure their personal belongings and get additional coverage, like liability and additional living expenses. An HO-4 is not technically a “homeowners” policy, as renters don’t own the property where they are living, which is why this policy type excludes coverage for the building’s structure, whether it is a single-family home or multi-family structure like an apartment building. Renters would need to purchase separate coverage for flood and earthquake damage. Renters insurance policies are usually named perils policies that cover the following events: - Damage from aircrafts or vehicles - Damage from the weight of snow or ice - Damages caused by an electrical current - Explosions - Falling objects - Fire and lightning - Hail and windstorms - Pipes freezing - Riots - Smoke - Theft - Vandalism - Volcanic eruptions - Water damage from plumbing or HVAC overflow - Water heater damage Learn more: [HO-4 insurance](https://www.bankrate.com/insurance/homeowners-insurance/types-of-homeowners-insurance/) ### HO–5 insurance An HO-5 policy is the most robust option available, covering your home, your personal belongings, liability, additional living expenses and medical payments for others. It typically covers personal possessions at replacement cost value versus actual cash value. These policies may also have higher coverage limits for personal possessions like jewelry compared to the more common [HO-3 policy](https://www.bankrate.com/insurance/homeowners-insurance/types-of-homeowners-insurance/). However, not all home insurers offer HO-5 policies and not all homeowners will be able to purchase an HO-5 policy due to the strict qualification guidelines. To get an HO-5 policy, your home typically needs to be newer construction, have higher than average replacement cost value, and/or located in a low-risk area for natural disasters. Adams discusses how an HO-5 policy could be beneficial for individuals with high-value items. She says, “It typically costs more and may not be offered by every insurer, but could be worth it if you have many valuable possessions.” With an HO-5 policy, your home and your personal items are both covered on an open perils basis. Some common exclusions include: - Earth movement - Government actions or laws - Infestation of birds, rodents or insects - Intentional loss - Mechanical breakdown - Mold - Nuclear hazard - Pets - Vandalism if the property is vacant more than two months - War and insurrection - Water damages from floods or sewer backup Because an HO-5 policy is written on an open perils basis rather than on a named perils basis, it covers more circumstances and can make it easier to get coverage when you file a claim. Because of its higher coverage limits for personal property, an HO-5 policy is usually more expensive than a standard HO-3. Learn more: [HO-5 insurance](https://www.bankrate.com/insurance/homeowners-insurance/types-of-homeowners-insurance/) ### HO–6 insurance HO-6 insurance is specifically for condo owners. These policies exclude the structure of the condo and anything else that would fall under the overarching policy for the condo facilities insurance policy. Instead, the HO-6 covers your belongings, some appliances and devices within the condo, personal liability and additional living expenses. The structure and features are generally covered under a master insurance policy written for the entire collection of condos and the surrounding property of common areas, such as pools, laundry rooms or social rooms. HOA fees are commonly charged to condo owners to help cover these collective, overarching insurance policies. It is important to have enough coverage in your condo policy to not only pay off your mortgage, but to purchase a similar unit if your building is damaged or destroyed and you need to move elsewhere. For flood and earthquake coverage, separate coverage would need to be purchased. HO-6 policies are named perils policies that generally cover: - Damage from aircrafts or vehicles - Damage from the weight of snow or ice - Damages caused by an electrical current - Explosions - Falling objects - Fire and lightning - Hail and windstorms - Pipes freezing - Riots - Smoke - Theft - Vandalism - Volcanic eruptions - Water damage from plumbing or HVAC overflow - Water heater damage Learn more: HO-6 insurance ### HO–7 insurance An HO-7 insurance policy covers mobile or manufactured homes, including trailers, sectional homes, RVs and modular homes. This type of policy provides coverage for your home’s structure, your personal belongings, liability, additional living expenses and medical payments. Flood and earthquake coverage would need to be purchased separately. The exterior of your home is covered under an open perils policy, which covers any situation that is not explicitly stated in your insurance policy. However, HO-7 policies cover your personal belongings under a named perils policy. That means your personal items are only covered under a specific list of circumstances, including: - Damage from aircrafts or vehicles - Explosions - Fire and lightning - Hail and windstorms - Riots - Smoke - Theft - Vandalism ### HO–8 insurance HO-8 insurance rounds out the eight types of home insurance policies. This type of home insurance is generally considered best for old or [historic homes](https://www.bankrate.com/mortgages/how-to-buy-a-house/) that may have a relatively high rebuild cost because of their age, design or materials. Homes that have been designated as historic landmarks may do well with such a policy, as would older homes that use less common design features and materials. If it would cost more to repair your damaged home than its current value, an HO-8 policy may be a suitable option. HO-8 policies include the standard coverage for dwelling, personal property, liability, additional living expenses and medical payments. Both your home’s structure and your personal property are covered under a named perils policy. This includes events such as: - Damage from aircraft or vehicles - Explosions - Fire and lightning - Hail and windstorms - Riots - Smoke - Theft - Vandalism - Volcanic eruption Like a standard home policy, flood and earthquake coverage would need to be purchased separately. ## How do I choose the right home insurance policy? Depending on your living situation, some types of homeowners insurance may be better choices than others. For instance, some policies are geared toward renters, condo owners, mobile homes, [landlords](https://www.bankrate.com/insurance/homeowners-insurance/best-landlord-insurance/) or homeowners living in their homes. The first step is going to be identifying which category fits you best. - If you live in a relatively modern home that you own on a mortgage or otherwise, you may be best with an HO-3, the most common home insurance policy. - If you live in a rental property, you might consider an HO-4. - If you live in a mobile home, you may do best with an HO-7. - If you live in a condo that you own, then you should consider an HO-6. - If you live in a historic home that you own, you might consider an HO-8. - If you have a lot of high-value personal items and want the maximum amount of protection possible, an insurer may offer you an HO-5 policy. - If you’re looking for a standard home insurance policy with slightly less protection and reduced cost, you may want an HO-2. - If you’re looking for a minimalist policy that only covers the structure of your home, attached building and certain appliances, you may want an HO-1. Ultimately, the type of policy you choose should meet your needs, provide adequate financial protection, and not [cost](https://www.bankrate.com/insurance/homeowners-insurance/homeowners-insurance-cost/) more than your budget allows. ## Frequently asked questions Did you find this page helpful? Help us improve our content
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