Auto & Homeowner's Insurance Glossary

Definitions offered in this section are meant to provide generic insurance information to consumers. They are not complete descriptions of all terms, exclusions and conditions applicable to the products and services offered by Electric Insurance. The terms and conditions of the policies issued are controlling in all cases. Product availability varies by state.

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	HO3 Policy	One of the most common types of homeowner policies, an HO3 is a Special Form policy that covers all perils except those specifically excluded by the policy. Typical coverages in a HO3 might be: Coverage A - $100,00; Coverage B - $10,000; Coverage C - $50,000; Coverage D - $20,000; Coverage E - at least $100,000; and Coverage F - at least $1,000.
	HO4 Policy	Also called a Renters or Tenants Policy, an HO4 provides coverage on your personal property for a range of perils specifically named in the policy. Typical coverages in a HO4 might be: Coverage C - $15,000 and up; Coverage D - $3,000; Coverage E - at least $100,000; and Coverage F - at least $1,000.
	HO6 Policy	Condominium insurance is like HO4 (Renters) except that it takes into account the fact that you own the inner walls of your condo or townhouse. It can also fill in any gaps in your condo association's coverage. Typical coverages in a HO6 might be: Coverage A - starts at $1,000; Coverage C - $15,000 and up; Coverage D - $3,000; Coverage E - at least $100,000; and Coverage F - at least $1,000.
	Homeowner's Policy	Combined property and liability insurance that covers homeowners and renters for damage to or theft of their property and liability, in case they are responsible for injury to another person.