Eight General Exclusions applicable to ALL Homeowner policies:
- Water damage (can be covered in certain geographical regions)
- Earth movement (can be covered in certain geographical regions)
- Power failure
- Ordinance or law
- Intentional loss
- Nuclear hazard
Understanding the different types of Homeowners Policies
Covered Perils- Basic, Broad, and Open Form
Loss of Use
|HO-8 (older home)||Broad||Broad||Broad||Broad|
|HO-4 (renters)||------||------||Broad||Broad (20%)|
|HO-6 (condo)||------||------||Broad||Broad (40%)|
Perils associated with Basic, Broad, and Open:
Basic Form- remember the acronym--- "RALFH WEST - VVV"
- Riot, Aircraft, Lightening, Fire, Hail, Windstorm, Explosion, Smoke, Theft, Vandalism, Vehicles, Volcanic
- Everything in the Basic Form is included in the Broad Form plus FAR
- Freezing of plumbing, Falling objects, Artificially generated electricity, Rupture of a system
Replacement Values of Lost Property
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