Affordable Low Cost Insurance, Inc.
1905 S. Dairy Ashford St., Houston, Tx 77077
Phone : (713) 695-1133
1905 S. Dairy Ashford St., Houston, Tx 77077
Phone : (713) 695-1133
What are the different types of policies?
All homeowner’s Insurance policies are not the same.
Some of the types of Insurance Policy are listed below:
HO-1. Basic homeowner’s policy. Covers against 10 perils listed below.
HO-2. Broad homeowner’s policy. Covers against 16 perils.
HO-3. Special homeowner’s policy. Covers against all perils unless specifically excluded
from the policy.
HO-4. Renter’s insurance policy. Cover’s 16 named perils and also covers liability but does
not include dwelling itself.
HO-6. Condominium or co-ops policy. Covers liability, improvement to owner’s unit, and
owner’s possessions. Coverage to actual structure and common areas is provided by owner’
s association.
HO-8. For older home whose market value is much lower than the cost to rebuild it. Same
perils are covered as HO-2. Pays for repairs cost only or Actual Cash Value which is the
replacement cost minus depreciation.
Perils covered under HO-1 policy:
1- Fire or lightning
2- Windstorm or hail
3- Explosion
4- Riot or civil commotion
5- Damage caused by aircraft
6- Damage caused by vehicles
7- Glass (limited coverage for HO-1 i.e., $50 per occurrence for breakage.
8- Smoke (but not smoke damage from fire place for HO-1)
9- Vandalism or malicious mischief
10- Theft
Additional perils covered in HO-2, HO-3, HO-4 and HO-6 policies:
1- Volcanic eruption – but not land tremors
2- Falling objects – roof or outside wall must be damaged first to have coverage of
contents
3- Weight of ice, snow, or sleet
4- Overflow of water system – must be internal plumbing
5- Sudden and accidental tearing apart, cracking, burning, or bulging of a steam or
hot water heating system or an appliance for heating water but not steam explosion.
6- Pipes bursting or freezing
7- Power surge – covers wiring only.
8- Collapse – exception is collapse caused by earth movement
All homeowner’s Insurance policies are not the same.
Some of the types of Insurance Policy are listed below:
HO-1. Basic homeowner’s policy. Covers against 10 perils listed below.
HO-2. Broad homeowner’s policy. Covers against 16 perils.
HO-3. Special homeowner’s policy. Covers against all perils unless specifically excluded
from the policy.
HO-4. Renter’s insurance policy. Cover’s 16 named perils and also covers liability but does
not include dwelling itself.
HO-6. Condominium or co-ops policy. Covers liability, improvement to owner’s unit, and
owner’s possessions. Coverage to actual structure and common areas is provided by owner’
s association.
HO-8. For older home whose market value is much lower than the cost to rebuild it. Same
perils are covered as HO-2. Pays for repairs cost only or Actual Cash Value which is the
replacement cost minus depreciation.
Perils covered under HO-1 policy:
1- Fire or lightning
2- Windstorm or hail
3- Explosion
4- Riot or civil commotion
5- Damage caused by aircraft
6- Damage caused by vehicles
7- Glass (limited coverage for HO-1 i.e., $50 per occurrence for breakage.
8- Smoke (but not smoke damage from fire place for HO-1)
9- Vandalism or malicious mischief
10- Theft
Additional perils covered in HO-2, HO-3, HO-4 and HO-6 policies:
1- Volcanic eruption – but not land tremors
2- Falling objects – roof or outside wall must be damaged first to have coverage of
contents
3- Weight of ice, snow, or sleet
4- Overflow of water system – must be internal plumbing
5- Sudden and accidental tearing apart, cracking, burning, or bulging of a steam or
hot water heating system or an appliance for heating water but not steam explosion.
6- Pipes bursting or freezing
7- Power surge – covers wiring only.
8- Collapse – exception is collapse caused by earth movement
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