Which homeowners policy would be most appropriate for a single-family home?

The HO-3 homeowners policy is the most commonly utilized policy for single-family homes due to its comprehensive coverage. This policy offers open-peril coverage for the structure of the home, meaning it covers all causes of loss except for those specifically excluded in the policy. This comprehensive approach offers homeowners peace of mind, protecting against a wide range of potential hazards such as fire, theft, and vandalism.

Additionally, the HO-3 policy provides named-peril coverage for personal belongings, which means that it will cover personal items only for the risks that are explicitly stated in the policy. This combination of open-peril coverage for the dwelling and named-peril coverage for personal property makes it well-suited for homeowners who want robust protection for their primary residence.

While other policies may offer benefits for specific kinds of properties, such as the HO-5 which provides broader coverage for personal property and higher limits, the HO-3 remains the standard choice for most single-family homes due to its balance between coverage and affordability.