Home & Property

HO-5 Policy

A premium homeowners form that extends open-perils coverage to both the dwelling and personal property.

Last reviewed: May 2026 · Editorial methodology

Definition

The HO-5 (Comprehensive Form) is the broadest standard homeowners policy available, providing open-perils protection on both the structure and the contents — meaning losses are covered unless a specific exclusion applies. This contrasts with the HO-3, where personal property falls back to named perils. HO-5 policies typically pay personal-property claims on a replacement-cost basis without a separate endorsement, which is valuable for electronics, clothing, and appliances. Underwriters generally require newer homes (often built within the last 25–30 years), good condition, and claims-free histories before offering HO-5 forms. Premiums run roughly 5–15% higher than comparable HO-3 policies. High-value home programs from carriers like Chubb and AIG are often structured as HO-5 equivalents.

Where this term matters

Home Insurance →/states →

Tip

Glossary definitions are educational. Always check your own policy language — insurers can define common terms differently from one another. When in doubt, request a written explanation from your agent.

Related terms

HO-3 PolicyThe most common homeowners insurance form, providing open-perils coverage on the dwelling and named-perils coverage on personal property.Open Perils (All Risk)A coverage approach where all causes of loss are covered unless explicitly excluded in the policy.Replacement Cost Value (RCV)The cost to replace lost property with new items of similar kind and quality — no depreciation.Coverage C (Personal Property)The homeowners policy section that reimburses the policyholder for damaged or stolen personal belongings, such as furniture, electronics, and clothing.Scheduled Personal PropertyA policy endorsement that individually lists and insures high-value items — jewelry, art, collectibles — at their appraised value.

Related guides

Source: Cover Forge USA editorial team|Last verified: May 2026|Methodology
Definitions are educational and may be simplified. Always refer to your policy contract and consult a licensed agent for terms that affect coverage decisions.
CF

Cover Forge USA Editorial Team

Editorial Lead

This article was researched and written by the Cover Forge USA editorial team against federal sources (NAIC, CMS, FEMA, DOL, SSA, state DOIs) and standard policy forms. Bylines organize content by topic — they do not assert individual licensure. See our editorial-policy for details.

Reviewed June 2026

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