Homeowners policies are standardized into numbered forms. The number on your declarations page — HO-3, HO-5, HO-6 and so on — determines the structure of your coverage before any endorsement modifies it.
Most people have never noticed theirs. It takes ten seconds to find and it explains more about your coverage than almost anything else in the document.
The distinction everything rests on
Before the forms make sense, one concept has to be clear.
Named peril The policy lists what is covered. If a cause is not on the list, it is not covered. The burden is on you to show your loss fits a listed peril.
Open peril Also called "all risk". Everything is covered except what the policy specifically excludes. The burden is on the insurer to show an exclusion applies.
Open peril is broader, and the shift in burden matters in a dispute. A great many homeowners policies apply open peril to the structure and named peril to the contents — which is the single most common surprise in this area.
The forms
| Form | For | Structure | Contents |
|---|---|---|---|
| HO-1 | Basic, largely obsolete | Named peril, short list | Named peril |
| HO-2 | Broad form | Named peril, longer list | Named peril |
| HO-3 | Most common owner-occupied policy | Open peril | Named peril |
| HO-4 | Renters | Not covered (not yours) | Named peril |
| HO-5 | Comprehensive | Open peril | Open peril |
| HO-6 | Condominium owners | Interior only, varies | Named peril typically |
| HO-7 | Mobile and manufactured homes | Open peril typically | Named peril |
| HO-8 | Older homes, modified coverage | Named peril | Named peril |
HO-3, and what it does not do
The standard owner-occupied policy in most of the country. Open peril on the structure, named peril on the contents.
The practical consequence: if your television stops working for a reason not on the list of covered perils, the policy generally does not respond — even though the same policy would cover the house against almost anything not excluded.
HO-5, and the burden of proof
Extends open peril coverage to personal property as well. Beyond the broader coverage itself, it changes who has to prove what: under HO-5, the insurer must identify an exclusion, rather than you having to fit your loss into a listed peril.
It costs more and is not offered to every property. Insurers typically apply eligibility criteria around age, condition, and claim history.
HO-6, and the gap that catches condo owners
Condominium coverage is genuinely different because two policies are involved: the association's master policy and yours.
What the master policy covers depends on the association's governing documents. Some cover the unit to the bare walls, leaving fixtures, flooring, cabinets and finishes to you. Others cover original installed fixtures but not improvements.
If you own a condo, the document that determines your exposure is not your policy — it is the association's master policy declarations and the section of the bylaws describing what the association insures. The gap between the two is what your HO-6 is meant to fill, and you cannot size it without reading both.
HO-8, and why it exists
Written for older homes where the cost to rebuild using original materials and craftsmanship would substantially exceed the market value. Rather than insure a rebuild that would never happen, HO-8 typically settles on a repair-cost or actual cash value basis, and covers a narrower list of perils.
It is a real trade-off, made deliberately for a category of property that would otherwise be difficult to insure at all.
Where to find your form number
Top of the declarations page, usually near the policy number. It may appear as "HO-3", "Form HO 00 03", or as a description such as "Special Form" (HO-3) or "Comprehensive Form" (HO-5).
Some insurers use proprietary product names instead. If yours does, the declarations page or the policy jacket will still identify the underlying form, or your agent can tell you.
What endorsements do to all of this
The form is the starting point, not the final answer. Endorsements listed on your declarations page modify it, in both directions.
- Adding coverage: water backup, service line, equipment breakdown, scheduled valuables, ordinance or law.
- Restricting coverage: roof settlement on an actual cash value basis after a certain age, cosmetic damage exclusions, wind or hail limitations.
An HO-3 with restrictive endorsements can be narrower in practice than an HO-2 without them. Reading the form number alone is not enough.
What we are not saying
We are not telling you which form to buy or that you should upgrade. Availability depends on your property and your insurer, the price difference varies by market, and we do not sell insurance.
What we are saying is that the form number is the fastest way to understand the shape of your coverage, that the split between open peril on the structure and named peril on the contents is the most common source of surprise, and that condominium owners cannot assess their exposure without reading the association's master policy.
Where to verify this yourself
- Your declarations page — the form number and the full endorsement list.
- Your policy — the perils listed for personal property, and the exclusions applying to the structure.
- Your condo association — master policy declarations and the insurance section of the bylaws.
- Your state Department of Insurance — consumer guides on the forms available in your state.
This is general education, not advice. Insurance law and claim rules vary by state and change over time. Nothing here is legal, financial, or insurance advice for your situation, and reading it does not create any professional relationship. For your specific case, consult a licensed professional in your state or contact your state Department of Insurance.