What Does Homeowners Insurance HO-3 Cover?

What Is the HO-3 Policy and Why Is It the Most Common?

When reading their homeowner’s insurance policy, many homeowners come across the term HO-3 and wonder if this coverage is the best choice to protect their investment.

The answer is yes. The HO-3 policy is the most commonly used in Florida and is designed to cover any risk that could affect your home, except for those specifically excluded in the contract. It’s ideal for single-family homes, townhouses, and multi-family dwellings and generally also protects personal belongings inside the house.

What Does the HO-3 Policy Cover?

This coverage includes:

• Damage to the Dwelling (Coverage A): Protects the main structure of the home.
• Damage to Other Structures (Coverage B): Includes fences, garages, and detached structures.
• Damage or Theft of Personal Belongings (Coverage C): Protects furniture, clothing, appliances, and more.
• Additional Living Expenses (Coverage D): Covers temporary lodging costs if a covered damage makes the home uninhabitable.
• Legal Liability Expenses (Coverage E): Protects if the homeowner or a household member is sued for damages to others.
• Medical Expenses for Visitors (Coverage F): Covers injuries suffered by guests on the property.

Risks Covered by the HO-3 Policy

Common risks protected include:

• Fire and lightning
• Hail or windstorms
• Explosions
• Riots or civil commotion
• Damage by aircraft or vehicles
• Malicious acts or vandalism
• Theft
• Falling objects
• Damage from electrical surges
• Sudden pipe bursts or home system failures

Typical Exclusions of the HO-3 Policy

• Earthquakes, landslides, or mudflows
• Flooding (requires additional insurance)
• Demolition or seizure by authorities
• Pests, including insects and rodents
• Mold, unless caused by a covered peril
• Homeowner negligence
• Intentional damages caused by the owner

In summary, the HO-3 policy is the most common and effective option for protecting your home in Florida. However, it’s crucial to understand its coverages and exclusions to make the most of it.

If you want the homeowner’s insurance best suited to your needs, call Univista Insurance. Our advisors will help you choose the best option. Protect your investment with the right coverage!