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Homeowners Coverage

Homeowners Coverage forms available through OFP are HO 00 08, HO 00 02 and HO 00 03. Coverage under the HO 00 02 and the HO 00 03 forms may be written with the HO 04 56 (Special Loss Settlement) endorsement to provide compliance with coinsurance/insurance to value limitations of the coverage forms.

HO 00 08 Modified Coverage Form

Coverage Provided

  • Covered property losses on covered buildings are settled at actual cash value. However, if repair or replacement of the loss or damage for same occupancy at same site is accomplished within 180 days of the date of loss, the amount paid for repairs (using common construction materials and methods where functionally equivalent to and less costly than obsolete, antique or custom construction materials and methods) will be paid, up to the coverage amount.
  • Coverage, unless the loss is excluded, is for direct physical loss to the property covered caused by Fire or Lightning, Windstorm or Hail, Explosion, Riot or Civil Commotion, Aircraft, Vehicles, Smoke, Vandalism or Malicious Mischief, Theft ($1000 maximum per occurrence), Volcanic Eruption, Personal Liability, and Medical Payments to Others. Definitions of and exclusions relating to these perils are within the contract.

Underwriting Criteria

  • Property must be free from any loss-producing hazards and/or deficiencies.
  • Property must be a one or two family dwelling structure (not mobile, manufactured, or trailer home).
  • Property must be an owner-occupied dwelling (not seasonal, farm, commercial, or under construction).
  • Property may not be in foreclosure, litigation, or receivership.
  • Property may not have unrepaired damage or unsettled losses from any perils which would be insurable under the HO 00 08 coverage form.
  • Dwelling structure must have coverage equal to or greater than Insurance Services Office’s rating minimum of $15,000.
  • Property must be free of specific characteristics of ownership, condition, occupancy and maintenance that violate law or public policy and/or may result in increased exposure to loss.
  • Property may not be owned by any individual(s) who has been convicted of arson or who has misrepresented the property by false information on the application(s).
  • Property may not have sustained loss which was caused by the gross negligence or carelessness of the insured/applicant.
  • Property must have been denied the coverage sought by at least two insurance companies.
  • Property may not have delinquent taxes, assessments, penalties or other such charges due.
  • Property may not be in violation of any building, housing, air pollution, sanitation, health, fire or safety code, ordinance or rule.
  • Applications submitted for coverage must be fully and correctly completed.
  • Property must be free from the presence of any aggressive or vicious animal(s) including but not limited to pit bulls and pit bull mixes.
  • Property must have handrails installed on all stairs (greater than 3 steps) and porches.
  • If the property has a swimming pool, it must be completely fenced.
  • If the property has a hot tub and/or trampoline, then a fence/protective barrier is required.
  • Property must be the owner's primary residence.

HO 00 02 Broad Form

Coverage Provided

  • Covered property losses on covered buildings are settled at replacement cost without deduction for depreciation if the amount of insurance on the policy is 80% or more of the full replacement cost of the building immediately before the loss. We will pay the least of the following: the cost to repair or replace, minus the deductible amount, up to the coverage carried on the building; or the replacement cost of the damaged part of the insured building; or the amount actually spent to repair or replace the damaged building.
  • Coverage, unless the loss is excluded, is for direct physical loss to the property covered caused by Fire or Lightning, Windstorm or Hail, Explosion, Riot or Civil Commotion, Aircraft, Vehicles, Smoke, Vandalism or Malicious Mischief, Theft, Falling Objects, Weight of ice, snow, or sleet, Accidental discharge or overflow of water or steam, Sudden and Accidental tearing apart, cracking, burning or bulging of a steam or hot water heating system, etc., Freezing, Sudden and Accidental damage for artificially generated electrical current, Volcanic eruption, Personal Liability, and Medical Payments to Others. Definitions of and exclusions relating to these perils are within the contract.

Underwriting Criteria

  • Property must be free from any loss-producing hazards and/or deficiencies.
  • Property must be a one or two family dwelling structure (not mobile, manufactured, or trailer home).
  • Property must be an owner-occupied dwelling (not seasonal, farm, commercial, or under construction).
  • Property may not be in foreclosure, litigation, or receivership.
  • Property may not have unrepaired damage or unsettled losses from any perils which would be insurable under the HO 00 02 coverage form.
  • Dwelling structure must have coverage equal to or greater than Insurance Services Office’s rating minimum of $25,000.
  • Dwelling structure coverage carried must be at least 50% of the replacement cost.
  • Property must be free of specific characteristics of ownership, condition, occupancy and maintenance that violate law or public policy and/or may result in increased exposure to loss.
  • Property may not be owned by any individual(s) who has been convicted of arson or who has misrepresented the property by false information on the application(s).
  • Property may not have sustained loss which was caused by the gross negligence or carelessness of the insured/applicant.
  • Property must have been denied the coverage sought by at least two insurance companies.
  • Property may not have delinquent taxes, assessments, penalties or other such charges due.
  • Property may not be in violation of any building, housing, air pollution, sanitation, health, fire or safety code, ordinance or rule.
  • Applications submitted for coverage must be fully and correctly completed.
  • Property must be free from the presence of any aggressive or vicious animal(s) including but not limited to pit bulls and pit bull mixes.
  • Property must have handrails installed on all stairs (greater than 3 steps) and porches.
  • If the property has a swimming pool, it must be completely fenced.
  • If the property has a hot tub and/or trampoline, then a fence/protective barrier is required.
  • Property must be the owner's primary residence.

HO 00 03 Special Form

Coverage Provided

  • Covered property losses on covered buildings are settled at replacement cost without deduction for depreciation if the amount of insurance on the policy is 80% or more of the full replacement cost of the building immediately before the loss. We will pay the least of the following: the cost to repair or replace, minus the deductible amount, up to the coverage carried on the building; or the replacement cost of the damaged part of the insured building; or the amount actually spent to repair or replace the damaged building.
  • Coverage for personal property (contents), unless the loss is excluded, is for direct physical loss to the property covered caused by Fire or Lightning, Windstorm or Hail, Explosion, Riot or Civil Commotion, Aircraft, Vehicles, Smoke, Vandalism or Malicious Mischief, Theft, Falling Objects, Weight of ice, snow or sleet, Accidental discharge or overflow of water or steam, Sudden and Accidental tearing apart, cracking, burning or bulging of a steam or hot water heating system, etc., Freezing, Sudden and Accidental damage for artificially generated electrical current, and Volcanic Eruption.
  • Coverage for the insured building structures, unless the loss is excluded, is for direct physical loss to the property covered caused by all perils, unless excluded.

Underwriting Criteria

  • Dwelling structure must have coverage equal to or greater than Insurance Services Office’s rating minimum of $25,000.
  • Dwelling structure coverage carried must be at least 50% of the replacement cost.
  • Property must be free from any loss-producing hazards and/or deficiencies.
  • Property must be a one or two family dwelling structure (not mobile, manufactured, or trailer home).
  • Property must be an owner-occupied dwelling (not seasonal, farm, commercial, or under construction).
  • Property may not be in foreclosure, litigation, or receivership.
  • Property may not have unrepaired damage or unsettled losses from any perils which would be insurable under the HO 00 03 coverage form.
  • Property must be free of specific characteristics of ownership, condition, occupancy and maintenance that violate law or public policy and/or may result in increased exposure to loss.
  • Property may not be owned by any individual(s) who has been convicted of arson or who has misrepresented the property by false information on the application(s).
  • Property may not have sustained loss which was caused by the gross negligence or carelessness of the insured/applicant.
  • Property must have been denied the coverage sought by at least two insurance companies.
  • Property may not have delinquent taxes, assessments, penalties or other such charges due.
  • Property may not be in violation of any building, housing, air pollution, sanitation, health, fire or safety code, ordinance or rule.
  • Applications submitted for coverage must be fully and correctly completed.
  • Property must be free from the presence of any aggressive or vicious animal(s) including pit bulls and pit bull mixes.
  • Property must have handrails installed on all stairs (greater than 3 steps) and porches.
  • If the property has a swimming pool, it must be completely fenced.
  • If the property has a hot tub and/or trampoline, then a fence/protective barrier is required.
  • Property must be the owner's primary residence.
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