Insuring the Property

Homeowner's Insurance Forms

There are five types of homeowner's policies. Let's take a look at them.

HO-1: Provides only minimal basic protection. Due to its many restrictions on coverage, it is available in only a handful of states.

HO-2: Costs about 10% more than HO-1, but removes many of the restrictions imposed by an HO-1 policy.

HO-3: An all-risk policy. Costs about 25% more than HO-1, but covers everything not specifically excluded in the policy.

HO-6: Used if you are purchasing a condominium.

HO-8: Used for unique or historical structures.

NOTE: Certain states may use different HO designations.

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Investment and insurance products and services are offered through INFINEX INVESTMENTS, INC. Member FINRA/SIPC. Infinex and the bank are not affiliated. Products and services made available through Infinex are not insured by the FDIC or any other agency of the United States and are not deposits or obligations of nor guaranteed or insured by any bank or bank affiliate. These products are subject to investment risk, including the possible loss of value.