Principles of Risk Management and Insurance, 13th Edition

Summary

• The homeowners policy can be used to cover the dwelling, other structures, personal property, additional living expenses, personal liability claims, and medical payments to others.

• Section I provides coverage on the dwelling, other structures, personal property, loss-of-use benefits, and additional coverages. Section II provides personal liability insurance to the insured and also covers the medical expenses of others who may be injured while on the insured premises or by some act of the insured or by an animal owned by the insured.

• The HO-2 policy (broad form) covers the dwelling, other structures, and personal property against loss on a named-perils basis.

• The HO-3 policy (special form) covers the dwelling and other structures against ...