What perils are covered on a HO3 homeowners policy?

An HO-3 policy is considered an "all risk" policy, meaning a loss is covered unless it is specifically excluded. Review the "exclusions" portion of your policy to see what type of losses are excluded. An HO-3 policy affords an insured more protection than any other policy. I would recommend purchasing the HO-3 policy if you are in the market for insurance.