Question
Which type of homeowners insurance policy provides the MOST extensive coverage? A) HO-C B) Approved alternative policies sold with the approval of the commissioner of insurance C) HO-B D) HO-A
Ask by Peterson Evans. in the United States
Feb 24,2025
Upstudy AI Solution
Tutor-Verified Answer
Answer
HO-A provides the most extensive coverage.
Solution
The answer is D) HO-A.
Explanation:
• HO-A policies are designed to provide open perils coverage for the dwelling. This means that unless a specific peril is excluded, damage is covered. This “all‐risk” approach (subject to exclusions) typically results in more extensive protection.
• HO-B and HO-C are generally more limited in terms of perils covered (typically “named perils” only) and tend to provide narrower protection.
• Approved alternative policies, while acceptable if approved by the commissioner, generally do not offer coverage as broad as what HO-A provides.
Thus, HO-A delivers the most extensive coverage among the options.
Answered by UpStudy AI and reviewed by a Professional Tutor
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Simplify this solution The Deep Dive
The type of homeowners insurance policy that provides the most extensive coverage is the HO-C, also known as the "Comprehensive Form." This policy typically covers personal property against a wide range of perils, offering a higher level of protection for homeowners compared to standard policies. On the other hand, many people mistakenly think all insurance policies are the same, leading them to skimp on coverage. It's essential to read the fine print and understand what each type of coverage includes and excludes to avoid gaps in protection, especially for high-value items and unique circumstances.
