What type of policy is an HO-B?

An HO-B policy is classified as an "all risk" policy, which is designed to provide broad coverage for homeowners. This type of policy typically covers damage to the dwelling and personal property caused by a wide range of perils unless specifically excluded. It is important for policyholders to understand that while the policy generally covers many types of risks, there may be certain exclusions that homeowners should review carefully.

This designation distinguishes the HO-B from named perils policies, which only cover the specific risks listed in the policy. The comprehensive nature of an all-risk policy offers greater protection, as it encompasses more potential incidents that could cause loss or damage to property. Understanding these differences is essential when selecting insurance policies to ensure adequate protection tailored to an individual’s needs.