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What is a HO8 policy?



A HO8 insurance is known as a modified form of coverage. It is a named risk policy that covers the building at a fair cash value (compensation cost minus depreciation). The named hazards covered are as follows:

  • Fire or lightning
  • Hail and / or windstorm
  • Explosion
  • Riots and civil strife
  • Damage from aircraft
  • Damage from vehicles
  • Smoke
  • Vandalism and harmful mischief
  • Theft (usually with a sublime)
  • Volcanic eruption

Home insurance - Family home with inviting front walk

MotherImportant to note is wthe hat is not covered by an HO8. The two main losses that are not covered would be water damage from a pipe burst and falling objects (like a tree branch) if you can not prove that it was causedcustom of one of the “Risks” covered above. Of course, like all other homeowners, flood insurance is also exempt.

We prefer not to sell HO8 policies because of their limited coverage oned depreciated payments. But often a home does not qualify for a better form of insurance due to the age of the house, the roof or any other reason. A client can also request to insure his property for liability only. In these cases, we can propose a HO8 policy that can provide the responsibility they need, plus provide some real estate coverage for a similar price.


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