HO8 - Home Insurance Policy

The HO8 Home Insurance Policy is one of the most basic insurance policies available to homeowners. Most homeowners that purchase HO8 policy insurance do so because their home is older (over 40 years old) and does not meet all of the update requirements that are commonly found with HO3 policies.

These include updates to the: HVAC – Electrical – Plumbing – Roof

While most companies insuring an older home (40+ Years old) will require proof of full updates with a 4 Point Inspection for the HO3 policy,  our HO8 policy can be issued without full updates or a 4 point inspection

Generally only requiring the electrical being updated (at least 100 amp service, no knob & tube wiring, no aluminum wiring, no fuses,  no portable heat) along with working Air Conditiong. Windows units for the air conditioning is okay, however No Portable heating (space heaters) are allowed.

Some insurance carriers also use credit as a basis for determining not only rate- but also eligibility for coverage at all. So someone who has had a previous DUI or Bankruptcy, Judgement or Lien in the last 60 months may find themselves unable to attain the more desireable HO3 policy altogether.

In instances like these we can utilize the HO8 policy to fill the gap and get coverage on the home.

 
The HO8 Home Insurance Policy is a Named Perils Policy
 
The HO8 insurance policy is a named perils home insurance policy. Named perils policies specifically list the perils that your home and personal property are covered for. If something happens to your home and belongings that is not on the list of covered perils, you do not have coverage under the HO8 home insurance policy.
 
Perils Insured Against with the HO8 Home Insurance Policy
The 10 perils the HO8 Home Insurance Policy will protect your home and belongings from are:
  1. Fire or Lightning
  2. Windstorm or Hail
  3. Explosion
  4. Riot or Civil Commotion
  5. Aircraft
  6. Vehicles(unless caused by the insured)
  7. Smoke
  8. Vandalism or Malicious Mischief
  9. Theft:  our policy comes with $2,000 on premises- can be increased to 40% Cov A
    Off Premises: Limited to $1,000.
  10. Volcanic Eruption
  
Some Important Perils That May Are Not / May Not Be Covered..
 
Although the HO8 home insurance policy will protect you from the most common perils, there are a few common perils that have no place in the HO8 policy. The most common perils not covered are:

Water Damage – This type of claim is one of the most common found with homeowners insurance. Water damage would be associated with leaking or bursting pipes inside or outside the home, overflow from an appliance such as your washing machine or toilet. Also damage from a leaking roof because of a rain storm would probably not be covered under the HO 8 unless you can prove it was caused by a covered peril such as windstorm damaging the roof which ultimately casued the damage.

Falling Objects- No coverage is provided for objects falling on your home or contents, unless you can prove the objects fell on your home as a result of one of the ten covered perils listed above. Most people aren’t too worried about airplanes falling from the sky, however here in Florida falling trees are a common occurence. And if one falls on your home due to disease or old age it’s not covered.

 Mold Coverage – excluded

Power Surges – Accidental damage from artificially genertated electrical current is not covered. Lightning is naturally generated and is a covered peril.