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| POLICY FORM | BASIC | STANDARD | HO8 | HO1 | DP1 | FIRE EC V&MM | STANDARD PLUS | ACV2 | HO3 Market Value |
| Eligibility | If the market value of the property is less than 50% of the replacement cost, the dwelling is usually eligible for coverage with these policy forms only. |
| Building Total Loss | In the event of a total loss, the policy will cover the dwelling to either the market value or the toal coverage limit, whichever is less. |
| Building Partial Loss | Partial losses to the dwelling will be paid to the actual cash value or depreciated value of the materials damaged up to the policy limit. |
| Contents | Personal property/contents will usually be paid at actual cash value. Replacement cost coverage is usually not available with this policy form. |
| Perils | Your property is covered for FIRE, LIGHTNING, WINDSTORM, HAIL, EXPLOSION, RIOT, CIVIL COMMOTION, AIRCRAFT, VEHICLES, SMOKE, VANDALISM AND MALICIOUS MISCHIEF. |
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| POLICY FORM | BROAD | HO2 | DP2 |
| Eligibility | If the market value of the property is between 50% and 70% of the replacement cost, the dwelling is usually eligible for coverage with these policy forms. |
| Building Total Loss | In the event of a total loss, the policy will cover between 80% and 100% of the dwelling replacement cost. Assuming the buiding was properly insured between 80 and 100 percent of the replacement cost. If the building is insured at an amount under 80% of the replacement cost, then any partial loss will only be partially paid. The same percentage that the building is under insured will be deducted from the claim payment. |
| Building Partial Loss | The dwelling amount on the policy must represent at least 80% of the dwelling's rebuilding cost. This will provide full replacement payment of any partial losses to the dwelling. |
| Contents | Personal property/contents will be paid at actual cash value. Some HO2 policies may offer an endorsement for replacement cost coverage. |
| Perils | Your property is covered for FIRE, LIGHTNING, WINDSTORM, HAIL, EXPOLOSION, RIOT, CIVIL COMMOTION, AIRCRAFT, VEHICLES, SMOKE, VANDALISM AND MALICIOUS MISCHIEF, WEIGHT OF ICE AND SNOW, OVERFLOW OF PLUMBING, and FALLING OBJECTS. Your property is not covered by seepage. Includes ACV2. |
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| POLICY FORM | SPECIAL | ALL RISK | HO3 | DP3 | COMPREHENSIVE |
| Eligibility | If the market value of the property is greater than 70% of the replacement cost, the dwelling is usually eligible for coverage with these policy forms. |
| Building Total Loss | In the event of a total loss, the policy will cover between 80% and 100% of the dwelling replacement cost. Assuming the buiding was properly insured between 80 and 100 percent of the replacement cost. If the building is insured at an amount under 80% of the replacement cost, then any partial loss will only be partially paid. The same percentage that the building is under insured will be deducted from the claim payment. |
| Building Partial Loss | The dwelling amount on the policy must represent at least 80% of the dwelling's rebuilding cost. This will provide full replacement payment of any partial losses to the dwelling.The dwelling amount on the policy must represent at least 80% of the dwelling's rebuilding cost. This will provide full replacement payment of any partial losses to the dwelling. |
| Contents | Personal property/contents will be paid at actual cash value. Some HO3 policies may offer an endorsement for replacement cost coverage. |
| Perils | Your property is covered for FIRE, LIGHTNING, WINDSTORM, HAIL, EXPOLOSION, RIOT, CIVIL COMMOTION, AIRCRAFT, VEHICLES, SMOKE, VANDALISM AND MALICIOUS MISCHIEF, WEIGHT OF ICE AND SNOW, OVERFLOW OF PLUMBING, FALLING OBJECTS, SEEPAGE FROM ABOVE GROUND, ACCIDENTAL BREAKAGE, STAINS AND ADDITIONAL RISKS WITH CERTAIN EXCEPTIONS SUCH AS NUCLEAR WAR AND CIVIL WAR. Includes HO3 Market Value. |
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