The types of homeowners insurance are the policy forms carriers write, numbered HO-1 to HO-8 in most states, and the number on your declarations page decides what perils are covered and how the house and its contents are paid for. Most houses carry an HO-3, condos an HO-6, renters an HO-4, mobile homes an HO-7 and older or unusual houses an HO-8; the differences are worth ten minutes before you compare quotes. The Insurance Information Institute's NAIC-based figure puts the average US homeowners premium at $1,411 for 2021, and the average renters premium at $170; both are national averages that no single household pays, and the rate pages on this site show what carriers actually file where you live.
The house forms: HO-1, HO-2, HO-3, HO-5, HO-8
HO-1 is a basic named-peril form few carriers still write; HO-2 a broader named-peril form; HO-3 the standard, open perils on the dwelling and named perils on contents; HO-5 open perils on both, the broadest common form; HO-8 a modified form for older houses whose rebuild cost exceeds market value, often paying repair cost rather than replacement.
The others: HO-4, HO-6, HO-7
HO-4 is renters insurance, contents and liability with no dwelling coverage; HO-6 is condo insurance, covering the interior the master policy does not, contents, liability and loss assessment; HO-7 is the manufactured and mobile home form, written on the home's own construction and perils.
Named peril versus open peril
Named-peril coverage pays only for the causes the policy lists; open-peril coverage pays for anything not excluded, which shifts the argument in the owner's favour. The form number tells you which applies to the dwelling and which to the contents, and the filed rates on this site are shown by form where carriers file them. The III reports that 5.5 percent of insured homes had a claim in 2022, so most policy years end with nothing paid out and the price is paid for the year something is.
Questions people ask about types of homeowners insurance
What are the main types of homeowners insurance?
HO-3 for most houses, HO-5 for broader cover, HO-6 for condos, HO-4 for renters, HO-7 for mobile homes and HO-8 for older houses.
What is the difference between HO-3 and HO-5?
HO-3 covers the dwelling on open perils and contents on named perils; HO-5 covers both on open perils.
Which form do I have?
The declarations page names it.