Coldwell Banker Realty Center Harbor NH
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:
An HO-2 policy is also sometimes referred to as "peril policy," since it only offers coverage for a specific list of events.
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.
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.
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.
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.
My husband and I have been residents of NH since 1994, owning property in the Lakes Region since 2002 and having the privilege of living full time in our beautiful Lakes Region since 2014. Previous to moving to NH, we lived in the Indianapolis, IN area for 10 years. You deserve a realtor committed to showing respect for and understanding of your needs, regularly communicating with you, and successfully moving you through the selling and/or buying process. I look forward to meeting with you to discuss your real estate needs.
