Form No. 2 Broad Homeowners Insurance (HO-2)

What Does Form No. 2 Broad Homeowners Insurance (HO-2) Mean?

Form No. 2 (HO-2) refers to homeowners insurance that provides protection over the dwelling and other structures, whether attached or detached, and personal property in the home against 16 named perils. HO-2 is also referred to as a broad form because it offers more coverage than HO-1.

Insuranceopedia Explains Form No. 2 Broad Homeowners Insurance (HO-2)

HO-2 provides coverage against the following 16 perils:

• Fire and lightning
• Explosion
• Smoke
• Windstorms and hail
• Damage from accidental discharge or overflow of water or stream
• Ice, snow, or sleet
• Freezing
• Volcanic eruptions
• Riots and civil commotion
• Vandalism and malicious mischief
• Vehicles, only if third parties are at fault
• Aircraft
• Theft, usually limited to only $1,000
• Falling objects
• Sudden and accidental damage from artificially generated electrical current

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