What does HO-5 homeowners insurance specifically cover?

Homeowners insurance policies are categorized into different forms, each providing a varying scope of coverage. The HO-5 homeowners insurance is specifically referred to as a comprehensive form. It offers broad coverage for the dwelling, personal property, and liability, protecting against all perils that the policy does not specifically exclude.

This comprehensive model means that it insures against risks not commonly listed, unlike other forms that might provide only named peril coverage or more limited protections. The HO-5 policy covers damage to the home and personal possessions from virtually all causes except for those specifically excluded, comprehensively safeguarding the homeowner’s interests.

The context of other options illustrates why they do not fit the HO-5 designation. Basic form policies typically cover limited perils, while named perils only protect against specific risks outlined in the policy. General liability, while an important aspect of coverage, does not imply the same broad protection as the comprehensive form represented by the HO-5.