Guide to types of homeowners insurance policies to know

by Jonie Civill 05/14/2023

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With all the different types of homeowners insurance, the process of choosing a policy can be confusing. 

To help, here’s a basic guide to some major types of insurance policies. 

What is an HO-1 home insurance policy?

HO-1 insurance is the simplest of policies offered. It only covers your home structure and a few home features.

It also covers attached structures such as garages and patios. This policy offers funding in the case of storms, fire, wind damage, theft and a few other peril categories. 

HO-1 insurance doesn’t cover personal belongings, however. So if your computer or furniture is damaged during a storm, replacement cost would need to be covered by another policy. 

What is an HO-2 home insurance policy?

An HO-2 insurance policy offers a wider range of coverage. It provides financial security to home structure and personal property. 

What are HO-3 home insurance policies?

An HO-3 home insurance policy is the most common homeowners insurance type. In addition to coverages seen with HO-1 and HO-2 policies, it covers additional items. These include liability, payments for medical bills and living expense stipends. 

What is HO-4 Renters Insurance?

HO-4 is a policy offering protection to the personal property of individuals renting a space. It is not technically a homeowners insurance policy, but important for renters to have. 

Consider your home needs when purchasing homeowners insurance. Protect your property and belongings with the right insurance.

About the Author
Author

Jonie Civill

With over 30 years of residential experience in the Capital District, I have an in depth knowledge of houses for sale throughout the region. Working with buyers, I listen to your needs and help you find the right home. Selling a home requires a professional understanding of the process, including pricing, staging and personalized marketing techniques to get your home sold. I will work with you through all the details of buying or selling right through till the closing.

I have been a Multi-Million Dollar Producer throughout my career. I am active in the Greater Capital Association of Realtors serving on the Professional Standards and the Community Outreach Committees.

My business has been based on repeat and referral clients, which is the highest compliment I can receive. I have sold some homes 3 times and have worked with 3 generations of a family.

I believe in paying it forward. For years I have been actively involved with community service organizations.

Real estate has been my job but I really enjoy helping others create a better quality of life for themselves