Home insurance is also sometimes called as homeowners insurance or hazard insurance. In the real estate industry it is often abbreviated as HOI. In simple terms it is that type of property insurance in which private homes are covered. In such insurance policy various personal insurance protections are covered such as the losses that is occurred to anyone's home, the contents of home, loss of the use of homes or also the loss of other personal possessions of the owner of the home.

The types of home insurance policies are as mentioned below:
HO1 - Basic Form Homeowner Policy

It is usually referred to the basic policy form covering a home against below mentioned eleven listed perils:

• Lightning
• Windstorm or hail
• Vandalism or malicious mischief
• Theft
• Damage from vehicles and aircraft
• Explosion riot or civil commotion
• Glass breakage
• Smoke
• Volcanic eruption
• Personal liability

Floods and earthquakes are an exceptions.

HO2 - Broad Form Homeowner Policy
This is little advanced form of policy and it provides coverage against seventeen listed perils that also include the eleven perils of HO1. Sometimes this coverage is also named as perils policy.

HO3 - Special Form Homeowner Policy
This is a comprehensive form of policy that is usually taken for single-family homes and it provides all the risk coverage. However, it excludes perils such as earthquake and flood.

HO4 - Renter's Insurance
Renters here refers to the tenants and this policy covers the personal property against the perils of HO2 or HO3.

HO5 - Premier Homeowner Policy
This policy covers all the perils of HO3 and also some more to it. If the loss cause is not excluded specifically, this policy covers those causes of loss. HO6 - Condominium Policy
It is for condominium owners.

HO8 - Older Houses
It is the form of Modified Coverage and it is for those owners who occupy older homes the replacement cost of which exceeds the market value of the property.

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