Most residents of Rock Hill, SC, won’t purchase an asset that’s more valuable than their home. That’s why protecting your house with the right type of homeowners insurance is especially important. There are a few different types, or “forms,” of home insurance available. Here are some of the most common ones.

HO-2: Broad Form

The HO-2 policy is a "named perils" form, meaning it only provides coverage for damage or perils caused by the specific events explicitly listed in the home insurance policy. Perils like fire, lightning, windstorm, hail and explosions are often included, along with some others. While it is more comprehensive than a basic "bare-bones" policy, it’s still a fairly limited option. If your house is damaged by a peril not named in the policy, your claim would be denied.

HO-3: Special Form

The HO-3 is the most popular type of home insurance. It’s an “open perils” form, which means the policy covers any perils unless they’re explicitly excluded in the home insurance policy. Common exclusions are floods and earthquakes. You can buy separate policies to get coverage for floods and earthquakes. Flood insurance can be especially important in Rock Hill, SC. An HO-3 home insurance policy typically offers more protection than an HO-2 policy, yet remains quite affordable.

HO-5: Comprehensive Form

For the most robust protection, the HO-5 is an open perils policy with fewer exclusions. It covers more perils than the others, and often comes with higher limits. Of course, better coverage comes with higher premiums. At Wil Plyler Insurance Agency, we can help you find a competitively priced HO-5 form policy if that’s what you prefer. We can compare rates from different insurance companies since we’re an independent agency.

Work With a Knowledgeable Agent

The team here at Wil Plyler Insurance Agency can assist you with any of these home insurance options, or others, if you have a particular coverage need. Contact us, and we’ll ensure your house is well protected.