Homeowners Policy (HO)Question 296 of 474
Which Homeowners form covers both the dwelling and the personal property on an open-perils basis?
a.HO-8
b.HO-5
c.HO-3
d.HO-2
Explanation
The comprehensive form applies open perils to the dwelling and to contents, so the insurer must name an exclusion in order to deny either kind of loss. The HO-3 answer is the common trap: it writes the dwelling open perils but leaves contents on the broad list of named perils, and the HO-8 is the modified form for an older home.
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Related questions on this topic
- An investor buys a house solely to rent out and does not live there. A Homeowners policy cannot be written because:
- A tenants form (HO-4) differs from the owner-occupied forms mainly because it:
- A unit-owner buys a standard HO-6. Before any endorsement, the built-in Coverage A limit for building property is:
- On the HO-2 broad form, the dwelling and the personal property are insured:
- A covered dwelling loss under the HO-8 modified form is settled on the basis of:
- Under an open-perils dwelling form, the burden of proof at claim time works this way:
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