Which form provides broad coverage for both dwelling and personal property, including extended coverage perils?

Which form provides broad coverage for both dwelling and personal property, including extended coverage perils?

• A. HO-2
• B. HO-3
• C. HO-4
• D. HO-6

Answer: (A)

The correct choice is the form that provides broad coverage for both dwelling and personal property, including extended coverage perils. This form is known as the HO-2, or the Broad Form Homeowners Insurance policy. It is designed to cover a variety of perils as listed in the policy, which includes not only the basic risks but also several specified additional risks, thereby offering broader protection compared to more limited forms. The HO-2 covers the dwelling and personal property against risks such as fire, lightning, windstorm, hail, and vandalism, along with a number of additional risks. This makes it suitable for homeowners who want a good level of protection without opting for the most comprehensive coverage available. Other forms you might consider, such as the HO-3, primarily cover the dwelling on an open perils basis but provide personal property coverage on a named perils basis, which does not include all extended coverage perils that the HO-2 does. The HO-4 provides coverage for renters' personal property and liability but does not cover the dwelling itself, as it is intended for individuals who do not own the structure. Similarly, the HO-6 is designed for condominium owners and provides coverage for personal property and certain upgrades within the condo but does not

The correct choice is the form that provides broad coverage for both dwelling and personal property, including extended coverage perils. This form is known as the HO-2, or the Broad Form Homeowners Insurance policy. It is designed to cover a variety of perils as listed in the policy, which includes not only the basic risks but also several specified additional risks, thereby offering broader protection compared to more limited forms.

The HO-2 covers the dwelling and personal property against risks such as fire, lightning, windstorm, hail, and vandalism, along with a number of additional risks. This makes it suitable for homeowners who want a good level of protection without opting for the most comprehensive coverage available.

Other forms you might consider, such as the HO-3, primarily cover the dwelling on an open perils basis but provide personal property coverage on a named perils basis, which does not include all extended coverage perils that the HO-2 does. The HO-4 provides coverage for renters' personal property and liability but does not cover the dwelling itself, as it is intended for individuals who do not own the structure. Similarly, the HO-6 is designed for condominium owners and provides coverage for personal property and certain upgrades within the condo but does not