Types of Homeowner Insurance: All Risk Homeowner Policy

The All-Risk home insurance policy, or HO-3, is the most comprehensive policy for single-family homes. It gives coverage for all risks, excluding some perils.

Specifically, this policy insures the owner-occupied dwelling, private structures associated with the dwelling such as garages and sheds, unscheduled personal property on and away from the premises, and loss of use. This includes sudden and accidental discharge of water, such as damage from a broken pipe. This policy also includes the personal liability and medical payments coverages provided by earlier policies.

The all risk basis of home insurance cover extends to the dwelling and associated structures, and scheduled personal property; coverage of unscheduled personal property occurs on a wide named-perils basis.

The 16 perils named in HO-3 policies are:
• Fire
• Lightening
• Windstorm
• Hail
• Explosion
• Riot or civil commotion
• Aircraft
• Vehicles
• Smoke
• Vandalism or malicious mischief
• Theft
• Damage by glass or safety glazing material that is part of the building
• Volcanic eruption
• Falling objects
• Weight of ice, snow, or sleet
• Electrical surge damage

HO-3 All-Risk policies do not cover:

• Earthquakes
• Water damage
• Power failure
• Ordinance or law
• Any action undertaken by the government
• War
• Act of negligence
• Intentional loss
• Wear and tear
• Fungus, vermin, rodents, insects, birds
• Deterioration

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