An HO-2 insurance policy is a type of homeowners insurance policy offering coverage for named perils. Many homeowners opt for this type of coverage when choosing how to insure their home and personal belongings.
Here is some more key information about HO-2 policies:
HO-2 insurance: policy definitions & details
An HO-2 policy is also sometimes referred to as "peril policy," since it only offers coverage for a specific list of events.
What is not covered by HO-2 policies?
While the list of perils might seem comprehensive, there are some perils - like sinkholes - are excluded.
You'll also need earthquake insurance or flood insurance to protect you in an area prone to these events.
Who needs an HO-2 insurance policy?
An HO-2 includes dwelling coverage, other structures coverage, personal property coverage and liability coverage.
While not "open peril" policies, the perils included will cover most claims.
HO-2 vs. HO-3
An HO-3 policy provides much broader coverage than a HO-2. However, while a HO-3 covers dwelling and other structures with open peril coverage, your personal property may still be subject to a list of named perils.
Is an HO-2 policy enough for my home?
A HO-2 policy can be much more affordable compared to other policies, but it does have more risk. If you're uncertain about how much homeowners insurance you need to protect your home and belongings, it's best to discuss the details with your insurance company.
About the Author
Rudden|Bobruska Team
Gary Rudden, Lisa Rudden, and Nick Bobruska
RUDDEN BOBRUSKA TEAM
What sets your team apart from other real estate teams?
There is no team out in the market that offers what we do. All of us are Realtors, but
we each have specialized roles, which make our team so unique!
After decades of living and selling real estate in the DMV, we have established
ourselves as one of the top real estate teams with our market expertise and
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Our most distinct feature is our in-house construction and renovation team. We
are literally a full-service, one-stop shop when selling or buying a home!
How does the in-house construction and renovation team work?
All work is managed and completed through our licensed and bonded construction
crew. No need to call outside contractors. We are like “HGTV,” but we just don’t
have a show! Whether it’s a small makeover or a major renovation, we do it all. Our
sellers love this aspect of our team because we make preparing your home for the
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Having a licensed Maryland Home Improvement contractor as part of our team
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