What Does Form No. 4 Contents Broad Form Homeowners Insurance (HO-4) Mean?
Form No. 4 (HO-4) is a type of home insurance policy that provides coverage for only the contents of the home against 16 named perils as well as liability coverage for property damage or injury to those in the residence. It is basically a modified HO-2 to cater to tenants of a room, apartment, or home.
HO-4 is also known as renter’s insurance.
Insuranceopedia Explains Form No. 4 Contents Broad Form Homeowners Insurance (HO-4)
It is important to note HO-4 does not provide coverage to the dwelling or home. However, it may cover alterations the renter makes to the building for up to 10 percent of the coverage for personal property. Moreover, it may provide for additional living expenses in case the renter is displaced. The 16 perils HO-4 protects personal property against are as follows:
- Fire and lightning
- Windstorms and hail
- Damage from accidental discharge or overflow of water or stream
- Ice, snow, or sleet
- Volcanic eruptions
- Riots and civil commotion
- Vandalism and malicious mischief
- Theft, usually limited to only $1,000
- Falling objects
- Sudden and accidental damage from artificially generated electrical current
- Sudden & accidental tearing apart, burning, bulging, cracking