Form No. 2 Broad Homeowners Insurance

What Does Form No. 2 Broad Homeowners Insurance Mean?

Form No. 2 (HO-2) refers to a homeowners insurance policy that provides protection for the dwelling and other structures, both attached and detached, as well as personal property in the home, against 16 specified perils. HO-2 is also known as a broad-form policy because it offers more extensive coverage compared to HO-1.

Insuranceopedia Explains Form No. 2 Broad Homeowners Insurance

HO-2 provides coverage against the following 16 perils:

1. Fire and lightning
2. Explosion
3. Smoke
4. Windstorms and hail
5. Damage from the accidental discharge or overflow of water or steam
6. Ice, snow, or sleet
7. Freezing
8. Volcanic eruptions
9. Riots and civil commotion
10. Vandalism and malicious mischief
11. Vehicles (only if third parties are at fault)
12. Aircraft
13. Theft (typically limited to $1,000)
14. Falling objects
15. Sudden and accidental damage from artificially generated electrical current

In some states, such as Virginia, HO-2 also offers coverage for personal liability, medical payments, and additional living expenses.