: Most mortgage lenders require homeowners to carry at least an HO-3 level of insurance to protect their investment in the property.
: Protects the physical structure of your home (walls, roof, etc.).
: The HO-3 form is a standardised document used across the industry, making it easier to compare quotes between different insurance companies.
: Unlike basic policies that only cover specifically listed risks, an HO-3 policy covers all types of damage to your home’s structure unless the cause is explicitly excluded in the policy documents.
: It typically bundles three essential types of protection into one policy: