Homeowners Insurance -- HO3 vs HO5? (home, cost, shop)

[Rather B Cruisin]

In shopping for homeowners insurance I find some agents quote an HO3 policy, others an HO5. In reading about it I understand the HO3 covers losses caused by "named perils", HO5 basically covers everything except specific perils listed in the policy.

My question is what kind of things would be covered by an HO5 policy that woud not be covered under HO3? The HO3 policy seems to list about every cause I can think of. What would typically be the cost difference on a $250k home?

[Nativechief]

[quote=Rather B Cruisin;16432935]In shopping for homeowners insurance I find some agents quote an HO3 policy, others an HO5. In reading about it I understand the HO3 covers losses caused by "named perils", HO5 basically covers everything except specific perils listed in the policy.

My question is what kind of things would be covered by an HO5 policy that woud not be covered under HO3? The HO3 policy seems to list about every cause I can think of. What would typically be the cost difference on a $250k home?[/quote You need to ask an agent to explain it and put it in writing. What you dont know (and the agents avoid telling you) is what will cost you if you ever try to collect....Big con games is what Ive seen

[ZnGuy]

There must be various type of home policies, I was quoted 2 different policies: HO-3 and HE-7 with HE-21 Endorsement which seems to have more coverage limits.