Homeowners Policy Forms and Related Coverage Compared
How the common policy forms and add-on policies differ in what they cover and who they fit.
Homeowners coverage comes in several standard forms, and some risks need a separate policy. This table compares types of coverage, not insurers or prices. It follows the widely used ISO policy form numbering that most carriers base their own wording on, though each insurer's actual contract differs.
Read across a row to see how the dwelling is covered, how belongings are covered, and who the form usually suits. The right-hand column highlights the gap most buyers overlook. Use it to decide which form to request in every quote you collect.
Select a column header to sort.
| Coverage type | How it works | Good for | Watch out for |
|---|---|---|---|
| HO-3 (special form) | Dwelling and other structures covered for all risks except those listed as excluded; belongings usually covered for named perils. | Most owner-occupied single-family homes in average condition. | Belongings are typically named-perils only unless upgraded; flood and earthquake excluded. |
| HO-5 (comprehensive form) | Dwelling and belongings both covered on an open-perils basis, often with richer settlement terms. | Newer or higher-value homes and owners with many belongings. | Costs more, and not every carrier offers it in every state. |
| HO-2 (broad form) | Covers a named list of perils for dwelling and belongings. | Older or lower-value homes where an HO-3 is hard to get. | Anything not named is not covered, which can surprise buyers. |
| HO-8 (modified coverage) | Older homes insured for repair or actual cash value instead of full rebuild to modern standards. | Historic or unusual homes whose rebuild cost exceeds market value. | Often will not pay to restore original materials; read the settlement terms. |
| HO-6 (condo unit owner) | Covers interior improvements, belongings and liability; the association's master policy covers the building. | Condo owners. | Check what the master policy covers and the loss assessment limit. |
| HO-4 (renters) | Covers belongings and liability, not the building. | Tenants, not owners. | Included only as a contrast; owners need dwelling coverage. |
| DP-3 (dwelling fire) | Covers the dwelling on an open-perils basis for non-owner-occupied or rental homes. | Landlords and vacant or second homes the carrier will not write as a homeowners policy. | Liability and belongings coverage are limited or optional. |
| Flood insurance (NFIP or private) | Separate policy for rising water; NFIP is administered by FEMA. | Anyone in or near a flood zone, and many others outside one. | Usually a waiting period before it takes effect; not included in homeowners forms. |
| Earthquake coverage | Separate policy or endorsement for earth movement, often with a percentage deductible. | Homes in seismically active regions. | High deductibles and exclusions for items like fences or landscaping may apply. |
Form names and numbers follow ISO conventions, but each insurer files its own policy language, and some carriers use proprietary forms that do not match these categories. Always read the actual policy and endorsements.
To verify coverage rules and carrier licensing, check your state department of insurance through the National Association of Insurance Commissioners. For flood rules and the National Flood Insurance Program, see FloodSmart.gov and FEMA. This table is educational and is not a recommendation of any form or insurer.