Form No. 4 Contents Broad Form Homeowners Insurance

What Does Form No. 4 Contents Broad Form Homeowners Insurance Mean?

Form No. 4 (HO-4) is a type of home insurance policy that provides coverage solely for the contents of the home against 16 specified perils, as well as liability coverage for property damage or injury to individuals within the residence. Essentially, it is a modified version of HO-2 designed for tenants of a room, apartment, or home.

HO-4 is commonly referred to as renter’s insurance. Although landlords usually insure the building itself, that policy does not extend to a tenant’s belongings, which is why most renters need their own policy.

Insuranceopedia Explains Form No. 4 Contents Broad Form Homeowners Insurance

It is important to note that HO-4 does not provide coverage for the dwelling or home itself. However, it may cover alterations made by the renter to the building for up to 10 percent of the coverage amount for personal property. Additionally, it may provide for additional living expenses in the event that the renter is displaced.

Premiums for this kind of policy are usually modest, and the cost of renters insurance often runs under $30 per month for basic coverage. If you are shopping around, the best renters insurance companies tend to differ in how they handle theft sublimits and replacement cost versus actual cash value, both of which matter under HO-4.

The 16 perils against which HO-4 protects personal property are as follows:

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
12. Aircraft
13. Theft (typically limited to $1,000)
14. Falling objects
15. Sudden and accidental damage from artificially generated electrical current
16. Sudden and accidental tearing apart, burning, bulging, and cracking