There are several standard forms of property insurance, depending on your living situation:
HO-3 (Homeowners): Standard policy for single-family houses. Covers the structure, belongings, personal liability, and loss of use.
HO-4 (Renters): Covers your personal belongings and liability while renting.
HO-6 (Condo): Covers everything “walls in” – your unit’s interior, flooring, fixtures, and personal property. The condo association insures the exterior.
DP-3 (Landlord): For rental properties. Covers the building, any landlord-owned contents, and liability.
HO-8 (Older Homes): Designed for historic or outdated homes, often limited to actual cash value instead of full replacement. HO-8 policies may exclude theft and water damage and are rarely accepted by mortgage lenders.
Flood Insurance: Separate policy for rising water from outside (storm surge, heavy rain, flash floods).
E&S (Excess & Surplus) Policies: Used when standard carriers won’t insure a property. They aren’t backed by the state guaranty fund but provide coverage for higher-risk homes.