Homeowners  

You've worked hard for what you have. Your house is more than a place for your stuff. It’s your home. Be safe. Protect the people you love and the things you value .

Homeowner insurance: Protect your home and property

Storms, theft, accidents – you can’t predict what will happen, but you can prepare for what may come with Abstract  Insurance Agency.

This could protect you from:

• Fire and lightning
• Windstorm and hail
• Weight of ice or snow
• Smoke damage
• Falling objects
• Damage by freezing
• Explosion
• Theft on or off premises
• Vandalism and mischief
• Accidental overflow from plumbing
• Accidental electrical damage to appliances
• Damage by vehicles and aircraft
• Riots

Protect yourself and others

When accidents happen on your property, they can cause injury to your family and others, or damage to other people’s property.

Abstract Insurance Agency can help protect you with coverage* including:

• Personal liability for you, your spouse, relatives living with you and persons under 21 in your care
• Protection against claims you're legally obligated to pay -- injury, sickness, disease and death of others
• Payment of the cost of defending claims against you
• Medical expenses of others
• Accidental death benefits

Home Improvement -- are you covered?

Type of Policies

Types of policies

Currently, the ISO has seven standardized homeowners insurance forms in general use:

HO1 – Basic Form Homeowner Policy

A basic policy form that provides coverage on a home against 11 listed perils; contents are generally included in this type of coverage, but must be explicitly enumerated. The perils include fire or lightning, windstorm or hail, vandalism or malicious mischief, theft, damage from vehicles and aircraft, explosion riot or civil commotion, glass breakage, smoke, volcanic eruption, and personal liability. Exceptions include floods, earthquakes.

HO2 – Broad Form Homeowner Policy

A more advanced form that provides coverage on a home against 17 listed perils (including all 11 on the HO1). The coverage is usually a "named perils" policy, which lists the events that would be covered.

HO3 – Special Form Homeowner Policy

The typical, most comprehensive form used for single-family homes. The policy provides "all risk" coverage on the home with some perils excluded, such as earthquake and flood. Contents are covered on a named peril basis. (Note: "All Risk" is poorly termed as it is essentially named exclusions (ie, if it is not specifically excluded, it is covered))

HO4 – Renter's Insurance

The "Tenants" form is for renters. It covers personal property against the same perils as the contents portion of the HO2 or HO3.^[6]

HO5 - Premier Homeowner Policy

Covers the same as HO3 plus more. On this policy the contents are covered on an open peril basis, therefore as long as the cause of loss is not specifically excluded in the policy it will be covered for that cause of loss. (can also be achieved by endorsing an HO15 to the HO3)

HO6 – Condominium Policy

The form for condominium owners.

HO8 – Older Houses

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