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What are the different types of home insurance?

What are the different types of home insurance?

Posted by Heartland on 16th Jan 2023

When natural disasters or accidents occur, people tend to count themselves as lucky if they walk away unharmed. However, a damaged house can easily cost over $100,000 to fully repair. That doesn't include whatever value your personal belongings had before they suffered damage.

The best way to avoid expensive home repairs is with the use of homeowner's insurance. However, there are many different types of home insurance available for purchase.

Here's some information on the different types and what you should look for.


Home insurance provides financial protection for your property and belongings. In the event of an accident or disaster, you can receive compensation that can help pay for repairs, renovations, and more.

You can purchase homeowner's insurance to help protect anything from mobile homes to single-family dwellings.

However, it's important to keep in mind that home title insurance is somewhat different than homeowner's insurance. This protects a homeowner in the event that some kind of legal problem comes up regarding the home title they've purchased.

Title insurance is only necessary if you purchased a house, but it won't help renters or someone living in a condo.


There are eight main types of homeowner's insurance. Which one you use will depend partly on your home situation as well as your home's estimated value.

HO-1 is the most basic policy for single-family homes, and it's also the rarest to find. It only covers certain causes of damage such as fire, vandalism, vehicles, and windstorm.

HO-2 is the more common upgrade. This type protects your dwelling and personal property at its replacement cost value.

HO-3 is the most common type you'll find on the market with broader coverage than both of the previous options. HO-5 provides the best coverage for single-family homes. These are best used for high-net-worth properties that need extra protection.

If you're a renter, you'll need to find HO-4 insurance. Condo owners will want HO-6 insurance. Even people living in a mobile home can get coverage through an HO-7 policy.

Finally, there's the HO-8 homeowner's insurance meant for unique homes that don't qualify for the other options. The only way you'll qualify is if your home is older and has up to 10 named perils. This is best used if you want to maintain a home without making any drastic renovations.

As for title insurance, there's the standard and the enhanced version. The standard protects you from fraud or forgery. The enhanced version also protects you from things like a mechanic's lien and forced removal.


If you're a homeowner, there's a good chance you'll need some different types of home insurance to protect your property. You never know when someone will come for your title or cause damage to your house. Insurance makes sure you don't go bankrupt in the process.

Heartland Abstract provides title insurance with no hidden fees and two different policy options. Pay for what you need and rest easier at night.

Contact us to learn more and to get a quote.