Aug 8, 2022 · An HO-2 policy, also known as a broad form policy, is homeowners insurance that contains more coverage than the most basic of policy forms but less coverage than a standard HO-3 policy. An HO-2 provides coverage for your home and personal property against 16 named perils listed in the policy form.

Jun 7, 2024 · An HO-2 policy is a type of homeowners insurance that only covers damages caused by perils specifically named in your policy. An HO-2 typically covers 16 named perils, including damage from...

Jun 7, 2022 · The primary difference between HO2 and HO3 home insurance policies is the way your dwelling is covered. With HO2 coverage, your dwelling coverage is written as named perils which means that your home structure is only covered by perils included in your policy.

Feb 5, 2025 · What is an HO-2 policy? An HO-2 policy is a type of home insurance that is written on a named-perils basis. This means it only covers damage to your property that’s caused by one of the perils identified in the policy. Some HO-2 policies also cover your personal property and personal liability.

Jan 16, 2025 · An HO-2 policy is the technical term for one of the eight Homeowners Insurance tiers. It is a named peril policy, meaning that it will only cover damages that occur due to events outlined in the policy.

An HO-2 policy is a property insurance policy that covers your home, other detached structures, and their contents. In addition, the policy typically provides coverage for personal liability and additional living expenses if you are forced to vacate your home due to damage.

Feb 1, 2023 · An HO-2 policy (commonly called a broad form policy) is a type of home insurance that exceeds the basic coverage of an HO-1 policy but offers less protection than the more commonly purchased HO-3 policy. HO-2 policies are named-peril policies, offering dwelling coverage at replacement cost value or actual cash value against all 16 named perils.

Nov 5, 2024 · Form No. 2 (HO-2) refers to a homeowners insurance policy that provides protection for the dwelling and other structures, both attached and detached, as well as personal property in the home, against 16 specified perils.

Aug 7, 2023 · An HO-2 provides coverage for your home and personal property against 16 named perils listed in the policy form. It also covers loss of use, your personal liability, and medical payments if a guest is injured on your property.

Feb 5, 2024 · HO-2 policies offer more coverage for personal property and liability needs than HO-1 policies, and they’re generally more affordable than HO-3 policies. An HO-2 insurance policy covers 16 named perils, including damage caused by fire, theft, and lightning. On average, HO-2 policies cost $1,175 per year. What Is an HO-2 Policy?