What HO policy form is known as Special Form?

What HO policy form is known as Special Form?

• A. HO-1 Basic Form
• B. HO-2 Broad Form
• C. HO-3 Special Form
• D. HO-4 Tenant Form

Answer: (C)

Special Form refers to the homeowners policy form where the dwelling and other structures are insured on an open-peril (all-risk) basis, meaning coverage applies to almost any direct loss unless a specific exclusion applies. Personal property is covered on a named-peril basis under the same policy. This combination—open peril for the dwelling and other structures, with named peril for personal property—identifies it as the Special Form, the HO-3 form. In contrast, the Basic Form and Broad Form cover dwelling and contents only for specified named perils, and the Tenant/Renters form covers contents on named perils.

Special Form refers to the homeowners policy form where the dwelling and other structures are insured on an open-peril (all-risk) basis, meaning coverage applies to almost any direct loss unless a specific exclusion applies. Personal property is covered on a named-peril basis under the same policy. This combination—open peril for the dwelling and other structures, with named peril for personal property—identifies it as the Special Form, the HO-3 form. In contrast, the Basic Form and Broad Form cover dwelling and contents only for specified named perils, and the Tenant/Renters form covers contents on named perils.