Which HO form provides open perils coverage for the dwelling, other structures, and personal property?

The HO-5 Comprehensive Form is known for providing open perils coverage, which means it covers any risk of loss or damage to the dwelling, other structures, and personal property unless specifically excluded in the policy. This type of coverage is more comprehensive compared to other homeowners insurance forms, which might offer named perils coverage, meaning they only cover losses specifically listed in the policy.

The HO-5 form not only protects the structure of the home but also extends this level of coverage to personal property, which is a significant advantage for policyholders seeking extensive protection. The likelihood of broader claims approval due to this inclusive coverage is a benefit that can lead to less out-of-pocket expense for homeowners when an incident occurs.

In contrast, forms such as the HO-3 primarily provide a combination of open perils coverage for the dwelling and named perils coverage for personal property, while the HO-6 is tailored for condominium owners with limited protection suited to shared ownership scenarios. The HO-8, meanwhile, is designed for older homes and offers limited or modified coverage options, which further differentiates it from the more comprehensive protections provided by the HO-5.