HO-3 Homeowners Policy
The most common homeowners insurance form — open-perils coverage on the dwelling and named-perils coverage on personal property.
Quick answer
HO-3 Homeowners Policy: The most common homeowners insurance form — open-perils coverage on the dwelling and named-perils coverage on personal property. Typical cost: $1,400–$3,000 annual premium nationally..
Why it matters
HO-3 is what most homeowners actually carry; understanding what it does (and doesn't) cover saves disputes after a claim.
Typical cost
$1,400–$3,000 annual premium nationally.
Pros
- • Broad dwelling protection
- • Includes liability
- • Required by mortgages
Cons
- • Excludes flood and earthquake
- • Mold, sewer-backup limits
Common uses
- • Most owner-occupied single-family homes
Alternatives
HO-5 (premium open-perils everything)HO-8 (older homes)
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Frequently asked questions
- HO-3 vs HO-5?
- HO-5 extends open-perils to your personal property and pays at replacement cost — worth 10–20% more in premium.
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