What Is Broad Form Homeowners Insurance Coverage?
If you are shopping for homeowner's insurance, you have likely discovered that there are several different types of coverage. One type of coverage your agent may suggest is broad form insurance.
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Definition
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Broad form homeowner's insurance coverage (Form HO-2) is a homeowner's policy that covers a variety of named perils and offers substantially greater coverage than the basic homeowner's insurance policy (Form HO-1).
Named Peril
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A named peril is an event that causes damage to your home or its contents, which is listed as a covered event on your homeowner's insurance policy.
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Weather-Related Perils
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Weather-related perils covered under broad form homeowner's insurance include lightning, fire, windstorm, and the weight of snow, ice or sleet.
Electrical and Mechanical Perils
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Broad form homeowner's insurance also covers damage caused by the rupture or explosion of water heaters or steam systems, and by water or steam discharge from heating systems, air conditioners and plumbing.
Removal of Property
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Form HO-2 pays for removing property from the home when it is in danger of damage or loss from riots, civil commotion, vandalism, fire or malicious mischief.
Other Coverage
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Glass breakage, building collapse and smoke from vehicles and aircraft are also covered.
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