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What is HO1 homeowners insurance?

HO1 policy also called the basic form, is a bare-bones type of homeowners insurance. It lists the specific perils, or events, your insurance provider covers. If a peril is not explicitly listed in the policy, it is not covered by HO1. What do homeowners need to know about HO1?

What is the difference between HO-1 and Ho-3 homeowners insurance?

HO-1: The most limited policy type for single-family homes, HO-1s generally aren’t sold by insurance providers anymore. HO-2: A more common policy type for single-family homes and a slight upgrade from the HO-1. HO-3: The most common type of homeowners insurance policy for single-family homes, with broader coverage than the HO-2.

Does HO-1 insurance cover personal belongings?

Unlike most other homeowners insurance policies, HO-1 insurance doesn’t offer liability protection, nor does it cover your personal belongings or offer compensation for additional living expenses. HO-1 policies only offer dwelling coverage and other structures coverage. What does an HO-1 policy cover?

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