This policy provides comprehensive protection for owner-occupied homes valued at $100,000 or more.
This policy covers the policyholder's home and other structures on the property.
The owner must reside in the home for at least nine months out of the year for the house to be considered a primary residence.
The owner must reside in the home for at least three months out of the year for the house to be insured as a secondary or seasonal residence.
HO-3 Covered Perils
Covered perils include but are not limited to:
Fire or Smoke
Windstorm or Hail
HO-3 Coverage Options
The program is intended to offer coverage to homeowners who want extensive coverage on their homes. HO-3 is available only to owner-occupied properties. A home must be occupied 9 months out of the year to be considered primary and greater than 3 months out of the year to be considered secondary/seasonal.
Dwelling Coverage Limits range from $100,000 to $2,400,000. Tri-County limits range from $200,000 to $2,400,000. Dwelling needs to be insured to 100% Replacement cost.
Other Structures options are 2%, 5%, 10%, 15%, and 20% of Coverage A. It may also be excluded.
Contents coverage is included at 25%, available options are 10%, 50%, or 75% of Coverage A. Excluding contents requires the insured to submit a completed PTIC E008 form.
Loss of Use is included at 10% of Coverage A.
Personal Liability coverage options are offered at $10,000, $25,000, $50,000, $100,000, $300,000.
Medical Payments to Others coverage options are offered at $2,000 or $5,000.