What does HO-2 provide?

The HO-2 policy is known as the Broad Form Homeowners Insurance. This type of coverage offers a wider range of protection compared to basic policies. Specifically, it covers more than just the perils typically included in a basic form, such as fire or theft. Instead, it provides coverage for a variety of named perils, which can include risks like vandalism, falling objects, and water damage from specific sources, among others.

The term "broad form" indicates that it includes an extensive list of potential hazards that could lead to a claim. Homeowners choosing the HO-2 policy benefit from this broader coverage, making it particularly suitable for those who want more comprehensive protection without moving up to a more expensive policy like the HO-3, which covers all perils except those specifically excluded.

In this context, other options do not align with the specific features of the HO-2 policy. For example, coverage for renters is irrelevant since HO-2 is not designed for renters. Special coverage for high-value items is typically found in endorsements or more specialized policies rather than under an HO-2 plan. Basic form coverage pertains to a different type of homeowners policy that offers minimal peril protection.