HO-5
Business & Finance abbreviation · Insurance
| Stands for | Homeowners 5 comprehensive form |
|---|---|
| Categories | Business & Finance |
HO-5 stands for Homeowners 5 comprehensive form, an insurance abbreviation.
Homeowners policy covering both the dwelling and personal property on an open-perils basis, broader than the HO-3, usually offered for newer or higher-value homes.
Example: The HO-5 covers accidental damage to belongings, like a spilled drink on the laptop.
Usage notes
Because property claims under open-perils coverage need not match a named peril, the HO-5 shifts the burden to the insurer to prove an exclusion applies.
Related abbreviations
More insurance abbreviations
- GAP – Guaranteed asset protection
- GL – General liability insurance
- GUL – Guaranteed universal life
- GWP – Gross written premium
- HO-3 – Homeowners 3 special form
- HO-4 – Homeowners 4 contents broad form
- HO-6 – Homeowners 6 unit-owners form
- IBNR – Incurred but not reported
- IDV – Insured declared value
- ILIT – Irrevocable life insurance trust
- ILS – Insurance-linked securities
- ISO – Insurance Services Office