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

Definition - 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.

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