homeowner's insurance - ho-4, ho-6
HO-4: Renter's Policy
The HO-4 policy is very different from the rest of the policy types because there is NO coverage for the Dwelling, and Other Structures or Loss of Use. This policy was designed for those who are renting and have no interest in the existing structure, but want to make certain their belongings are protected. The HO-4 Policy comes with the amount of Personal Property, Liability, and Medical Payments of Others that you specify.
Renter Policies are named perils policies. Your contents are protected from the same 16 named perils that are covered in the HO-2 policy. They are listed again below for convenience.
HO-6: Condo Policy
The HO-6 policy is very unique. Most condo owners are not responsible for any exterior loss that might occur, but they are responsible for the interior walls, floors, and ceilings of their condo, as well as their personal property. Because the condo owner is responsible to repair the entire interior as result of a loss, HO-6 insurance policies must have Dwelling coverage.
Because condo owners are indeed owners, HO-6 policies also have Loss of Use coverage. The primary difference between a regular home owners policy and the HO-6 policy is that condo policies do not have Other Structures coverage. They also typically have a very low coverage amount for the Dwelling, because they aren't responsible for the entire structure.
Condo policies are named peril policies for the dwelling, Personal Property, and Loss of Use. The perils condo owners are protected from are the same 16 perils that apply with the HO-2 and the HO-4 policies.
The HO-4 policy is very different from the rest of the policy types because there is NO coverage for the Dwelling, and Other Structures or Loss of Use. This policy was designed for those who are renting and have no interest in the existing structure, but want to make certain their belongings are protected. The HO-4 Policy comes with the amount of Personal Property, Liability, and Medical Payments of Others that you specify.
Renter Policies are named perils policies. Your contents are protected from the same 16 named perils that are covered in the HO-2 policy. They are listed again below for convenience.
- Fire or Lightning
- Windstorm or Hail
- Explosion
- Riot or Civil Commotion
- Aircraft
- Vehicles
- Smoke
- Vandalism or Malicious Mischief
- Theft
- Volcanic Eruption
- Falling Objects
- Weight of Ice, Snow, or Sleet
- Accidental Discharge or Overflow of Water or Stream
- Sudden & Accidental Tearing Apart, Cracking, Burning, or Bulging
- Freezing
- Sudden & Accidental Damage from Artificially Generated Electric Current
HO-6: Condo Policy
The HO-6 policy is very unique. Most condo owners are not responsible for any exterior loss that might occur, but they are responsible for the interior walls, floors, and ceilings of their condo, as well as their personal property. Because the condo owner is responsible to repair the entire interior as result of a loss, HO-6 insurance policies must have Dwelling coverage.
Because condo owners are indeed owners, HO-6 policies also have Loss of Use coverage. The primary difference between a regular home owners policy and the HO-6 policy is that condo policies do not have Other Structures coverage. They also typically have a very low coverage amount for the Dwelling, because they aren't responsible for the entire structure.
Condo policies are named peril policies for the dwelling, Personal Property, and Loss of Use. The perils condo owners are protected from are the same 16 perils that apply with the HO-2 and the HO-4 policies.