An HO-3 policy is often called a "broad-risk form," because it covers everything except the exclusions outlined in the policy. It's what the majority of homeowners have.
The standard HO-3 policy contains a number of exclusions, including:
- Freezing of pipes in an unoccupied, vacant or under-construction building.
- Freezing, thawing, pressure or weight of water or ice to a fence, pavement, patio, swimming pool or dock.
- Theft from a building that's under construction.
- Vandalism and malicious mischief if the building has been vacant for more than 30 days.
- Wear and tear on the home including deterioration; insect and rodent infestation; settling, cracking, bulging or expansion of pavement, walls or foundations; or damage from domestic animals.
- Structures used for a business.
- Intentional damage.
- Nuclear accident.
- Cars, trucks, vans, motorcycles, aircraft and boats with anything more than a small motor.
- Property belonging to tenants.
- Animals, birds, and fish.
- Losses resulting from the failure to protect property after a loss