Glossary

HO-2 (broad form)

A named-perils homeowners policy covering 16 listed causes of loss for the house and belongings: broader than the basic form, narrower than the special form.

Also called: HO 00 02, HO2, broad form

HO-2 (ISO HO 00 02) insures the dwelling, other structures and personal property against 16 named perils. It includes the basic list of fire, windstorm, theft and the rest, then adds falling objects, the weight of ice, snow or sleet, accidental discharge or overflow of water or steam, freezing of plumbing and heating systems, sudden and accidental tearing apart or bulging of a heating or cooling system, and sudden and accidental damage from artificially generated electrical current. Liability and medical payments to others come with it, as on every HO form.

The catch is the named-perils approach. If the cause of your loss is not on the list, there is no coverage, and the policyholder must show that a listed peril caused the damage. On the standard form, buildings are settled at replacement cost if you insure to at least 80% of the rebuild cost, while belongings are paid at actual cash value unless you add an endorsement.

HO-2 usually costs less than HO-3, which covers the building against everything the policy does not exclude. It is uncommon today and tends to be offered where an insurer will not write an HO-3. For a side-by-side look, read HO-2 broad form vs HO-3: what changes in a claim; for the underlying idea, see named perils.

Last reviewed October 10, 2026

In the index now

Related terms

HO-1 (basic form) The oldest and narrowest ISO homeowners policy, insuring a short list of named perils; it has been largely discontinued. HO-3 (special form) The most common homeowners policy: open-perils coverage for the house and other structures, and named-perils coverage for belongings. Named perils Coverage that applies only to the causes of loss listed in the policy, so a claim is paid only if the damage came from one of them. Open perils Coverage that applies to any direct physical loss unless the policy specifically excludes the cause, so the insurer must point to an exclusion to deny a claim. Dwelling coverage (Coverage A) The part of a homeowners policy that pays to repair or rebuild the house itself, including attached structures such as a garage, porch or deck.

Related guides

HO-2 broad form vs HO-3: what changes in a claim The HO-2 insures the house against 16 named perils; the HO-3 against anything not excluded. Where the gap shows up, who must prove what, and lender limits. Named perils vs open perils coverage Named perils pay only for causes your policy lists; open perils pay for any direct physical loss not excluded. Where each applies on HO-3, HO-5, HO-4 and HO-6.