Form No. 5 Comprehensive Homeowners Insurance

What Does Form No. 5 Comprehensive Homeowners Insurance Mean?

Form No. 5 Comprehensive Homeowner’s Insurance (HO-5) is a homeowner’s insurance policy that covers the property, structures on the property, personal belongings, liability, and medical expenses. As the name suggests, it offers the most extensive coverage among homeowner’s insurance policies.

Because HO-5 sits at the top of the homeowners coverage scale, it usually costs more than an HO-3 form and is worth comparing across the best homeowners insurance companies to see which ones write it in your area.

Insuranceopedia Explains Form No. 5 Comprehensive Homeowners Insurance

HO-5 insurance is considered an all-perils policy for homeowners. If the property is damaged, the policyholder does not need to attribute the damage to one of the specific causes listed in the policy, as is required with named perils insurance.

Insurance companies are generally cautious when issuing HO-5 policies, often offering them to newer homes, well-maintained properties, or homes located near a fire department. If you qualify for one, figuring out how much homeowners insurance you need based on your home’s rebuild cost and the value of your personal property will help you set limits that match the broader protection an HO-5 provides.