Property Insurance 101: The Policy Forms You Need to Know for the Exam

Property Insurance Policy Forms — Your Quick Study Guide Policy forms are heavily tested on the P&C exam. Here's a clean breakdown. Homeowners Policy Forms: - HO-1 (Basic Form) — Named perils only. Very limited. Rarely used today. - HO-2 (Broad Form) — More named perils than HO-1. - HO-3 (Special Form) — Most common. Open perils on dwelling, named perils on contents. - HO-4 (Renters) — Covers personal property for renters. No dwelling coverage. - HO-5 (Comprehensive) — Open perils on both dwelling AND contents. - HO-6 (Condo) — For condo unit owners. Covers interior and personal property. - HO-8 (Modified Coverage) — For older homes where replacement cost exceeds market value. Dwelling Policy Forms (DP): - DP-1 — Basic/named perils. Fire, lightning, internal explosion. - DP-2 — Broad form. - DP-3 — Special/open perils on dwelling. Named perils on contents. The exam loves to ask which form is "most common" (HO-3) and which provides the broadest coverage (HO-5). Need extra help to PASS your Property and Casualty exam? Get our on-demand program here: https://www.pandcpacademy.com/pass-your-exam-now