Which policy form provides the broadest coverage for personal property in homeowners insurance?

The HO-5 Comprehensive Form provides the broadest coverage for personal property in homeowners insurance. This form offers an open-perils policy, which means it covers personal property against all risks except for those specifically excluded in the policy. This is a significant advantage for homeowners because it provides more extensive protection for personal belongings compared to other forms, which may be more limited in their coverage.

For instance, while the HO-2 Broad Form and HO-3 Special Form provide coverage on a named-perils basis for personal property, they only cover specific risks that are listed in the policy. The HO-4 Contents Broad Form is designed for renters and primarily covers personal property without structural coverage for a dwelling. In contrast, the HO-5 Comprehensive Form’s broad nature means that homeowners can have peace of mind knowing that their possessions are protected against a wider array of incidents, giving it the distinction of being the most comprehensive option available in homeowners insurance policies.