So What is an HO-3 Property Policy and Why Should I Have One?

Homeowners 3 Forms in Property Insurance are for the owner-occupant of a dwelling.  The dwelling is used primarily for the owner as well as incidental occupancies including an office or professional occupancies.  Under the HO3, the dwelling and other structures are insured for risk of direct physical loss with losses paid on a replacement cost basis.

Under the HO3, the contents and personal property are insured for broad perils with losses paid on an actual cash value basis.  Coverage does not include losses to fences, driveways or walks caused by a vehicle owned or operated by the insured.

Protect yourself, your property and your personal property.  Make sure you have the right policy for your needs.  Never try to second guess, always be protected with the right insurance.

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About Karen W. Schneider
I am a Licensed Property and Casualty Insurance Agent in Colorado, license #376411. I am the Customer Service Rep and Office Manager for Denvers Insurance Agency.

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