Homeowners 2 – Broad Form

Homeowners 2 or HO-2 broad form insurance insures the dwelling, other structures, and personal property from loss. The distinguishing feature of the HO-2 form is that it only insures the perils listed in the form. These perils include lightning, windstorms, hail, fires, explosions, and others. It also provides for the costs of additional living expenses and fair rental value for uninhabitable dwellings.

The HO-2 form is often compared to the HO-3 form. The HO-3 form takes the opposite approach to providing coverage. With the HO-3 form, all perils are covered except those that are specifically excluded in the form.