If you own a home, you may already know that home insurance is essential for protecting your investment. However, with so many different home insurance policies, it can take time to understand which one is right for you. In this blog, we’ll break down the different types of home insurance policies, so you can make an informed decision when selecting a policy.

HO-1: Basic Homeowners Insurance

HO-1 is the most basic type of home insurance policy and provides coverage for a limited number of perils, such as fire, theft, and certain types of natural disasters. It’s important to note that HO-1 policies are not widely available, and most insurance companies offer more comprehensive coverage options.

HO-2: Broad Form Homeowners Insurance

HO-2 policies provide coverage for a broader range of perils than HO-1 policies. In addition to coverage for fire, theft, and certain types of natural disasters, HO-2 policies also cover damage caused by falling objects, freezing, and more. However, HO-2 policies do not cover all possible perils.

HO-3: Special Form Homeowners Insurance

HO-3 policies are the most common home insurance policy and provide coverage for a wide range of perils, with some exceptions listed in the policy. These policies generally provide coverage for damage caused by fire, theft, certain types of natural disasters, and more. Reviewing the policy details to understand what is and isn’t covered is important.

HO-4: Renters Insurance

HO-4 policies are designed for renters and provide coverage for their personal property, liability protection, and additional living expenses. This type of policy does not cover the rental property’s physical structure.

HO-5: Comprehensive Homeowners Insurance

HO-5 policies are the most comprehensive type of home insurance policy and provide coverage for all perils except those specifically excluded in the policy. These policies generally provide the highest level of protection for homeowners and their property.

HO-6: Condo Insurance

HO-6 policies are designed for condo owners and provide coverage for the interior of their units, personal property, and liability protection. This type of policy does not provide coverage for the exterior of the building.

HO-7: Mobile Home Insurance

HO-7 policies are designed for owners of mobile or manufactured homes and provide coverage for the physical structure, personal property, and liability protection.

In conclusion, understanding the different types of home insurance policies is essential when selecting a policy to protect your investment. It’s important to review policy details and consider your needs and budget to find the best coverage option. Work with a licensed insurance agent to help you select the right home insurance policy for your needs.

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Thomas A Nolfi, Inc.'s Erie insurance agents help you make important decisions about your auto, home, life, and business insurance policies in the Moon Township, Pennsylvania, area. Get in touch with our independent insurance agency to learn more.

Auto Policies

You are sure to drive safely with the right auto insurance from Thomas A Nolfi Agency. When you consult with one of our experienced team members, we take the time to design a policy and coverage especially for you. Are you paying too much for your Auto Insurance? Call today for a free review!

Homeowners/ Renters Insurance

No matter where you call 'home,' a Homeowners policy from Erie Insurance offers you many different ways to ensure that you'll be covered when you need it. We proudly offer Insurance Policies for Homes, Apartments, Condos, Manufactured Homes Insurance Policies for Homes, Apartments, Condos, & Manufactured Homes

Personal Property & Liability Insurance

You work hard for your money and your belongings. Protect your valuable assets with sound coverage provided by Erie Insurance. Additional policies available from Erie include:

  • Inland Marine
  • Identity Recovery Coverage
  • Boat Protector
  • Umbrella—Personal Catastrophe & Liability (Mastercover™)

Life Insurance & Retirement

We know you love your children, your home, and all the things that make your life worthwhile. That's why we want to encourage you, without pushing you, to consider life insurance from Erie. Since your Erie Insurance agent is going to take as much time as you want to help you with your options, we know you're going to feel good about the process.

Business Insurance

You've worked hard to build and grow your business: countless hours and immeasurable effort. That's why you need superior coverage to help keep it safe. With all of Erie's business insurance policies, you get:

  • Multiple Payment Plan Options & More
  • Professional Claims Adjusters Who Promptly Respond to Your Loss
  • A Risk Control Specialist to Help You to Make Your Workplace Safe for Employees & Customers Alike
  • A Local Insurance Agent to Help You Figure out Your Needs, Understand Your Policies, & Answer Your Questions

Contact us for a quote on auto, life, and business insurance policies.