I would like a few VERY SPECIFIC examples of personal property losses that would be covered by HO5, but not covered by HO3.
Total Comments: 2
Posted: Thu Sep 04, 2014 03:54 am Post Subject:
It works the other way around. HO-3 is a "named perils" policy and covers the following causes of loss to "contents" (aka personal property):
1. Theft
2. Fire or Lightning
3. Explosion
4. Smoke
5. Freezing
6. Vehicles (but not in the same manner as auto insurance)
7. Falling Objects
8. Volcanic Eruption
9. Windstorm or Hail
10. Riot or Civil Commotion
11. Damage caused by Aircraft
12. Vandalism or Malicious Mischief
13. Damage due to weight of Ice, Snow, or Sleet
14. Sudden & Accidental Tearing Apart, Cracking, Burning, or Bulging
15. Sudden & Accidental Damage from Artificially Generated Electric Current
16. Accidental Discharge or Overflow of Water from Plumbing, Air conditioning etc.
If the loss is due to any cause not listed, then there is no coverage.
On the other hand, an HO-5 policy is called "open perils" and covers all losses except those specifically EXCLUDED. What an insurer chooses to exclude varies from company to company, so it is not possible to give you an exact description. Most HO-5 policies include somewhat higher standard limits of liability for items such as silverware, jewelry, etc., than the basic limits of an HO-3.
When purchasing an HO-5 policy, if available, you need only ask WHAT IS NOT COVERED? And you only go by what is in writing from the insurance company, never what the agent tells you is covered.
Posted: Tue Nov 18, 2014 05:55 pm Post Subject: An Example
Don't worry, OP, I understood the question. I am looking for the same thing. One example I found was this:
You are on vacation and a deer crashes through your sliding glass door. The injured deer then trashes your living room. This would be covered under the HO5 but not covered under an HO3.
Posted: Thu Sep 04, 2014 03:54 am Post Subject:
It works the other way around. HO-3 is a "named perils" policy and covers the following causes of loss to "contents" (aka personal property):
1. Theft
2. Fire or Lightning
3. Explosion
4. Smoke
5. Freezing
6. Vehicles (but not in the same manner as auto insurance)
7. Falling Objects
8. Volcanic Eruption
9. Windstorm or Hail
10. Riot or Civil Commotion
11. Damage caused by Aircraft
12. Vandalism or Malicious Mischief
13. Damage due to weight of Ice, Snow, or Sleet
14. Sudden & Accidental Tearing Apart, Cracking, Burning, or Bulging
15. Sudden & Accidental Damage from Artificially Generated Electric Current
16. Accidental Discharge or Overflow of Water from Plumbing, Air conditioning etc.
If the loss is due to any cause not listed, then there is no coverage.
On the other hand, an HO-5 policy is called "open perils" and covers all losses except those specifically EXCLUDED. What an insurer chooses to exclude varies from company to company, so it is not possible to give you an exact description. Most HO-5 policies include somewhat higher standard limits of liability for items such as silverware, jewelry, etc., than the basic limits of an HO-3.
When purchasing an HO-5 policy, if available, you need only ask WHAT IS NOT COVERED? And you only go by what is in writing from the insurance company, never what the agent tells you is covered.
Posted: Tue Nov 18, 2014 05:55 pm Post Subject: An Example
Don't worry, OP, I understood the question. I am looking for the same thing. One example I found was this:
You are on vacation and a deer crashes through your sliding glass door. The injured deer then trashes your living room. This would be covered under the HO5 but not covered under an HO3.
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