HO-3
Business & Finance abbreviation · Insurance
| Stands for | Homeowners 3 special form |
|---|---|
| Categories | Business & Finance |
HO-3 stands for Homeowners 3 special form, an insurance abbreviation.
Most common US homeowners policy form, covering the house on an open-perils basis, meaning all causes of loss except those excluded, and personal belongings on a named-perils basis.
Example: Our HO-3 covered the burst pipe but not the flood from the river.
Usage notes
Standard exclusions include flood, earthquake, wear and tear, and mold except where resulting from covered water damage. The HO-3 also includes personal liability, medical payments and loss-of-use coverage. Forms are based on ISO standards, though insurers often use their own versions.
Related abbreviations
More insurance abbreviations
- FPI – Force-placed insurance
- FR-44 – FR-44 certificate of financial responsibility
- GAP – Guaranteed asset protection
- GL – General liability insurance
- GUL – Guaranteed universal life
- GWP – Gross written premium
- HO-4 – Homeowners 4 contents broad form
- HO-5 – Homeowners 5 comprehensive form
- HO-6 – Homeowners 6 unit-owners form
- IBNR – Incurred but not reported
- IDV – Insured declared value
- ILIT – Irrevocable life insurance trust