Which type of homeowners policy offers the most comprehensive coverage?

The homeowners policy that offers the most comprehensive coverage is the HO-5. This policy type provides open perils coverage for both the dwelling and personal property, meaning it covers all risks of physical loss or damage except for those specifically excluded in the policy. This level of coverage is broader than that found in the HO-3, which offers open perils coverage for the building but typically provides named perils coverage for personal property, meaning only certain risks are covered.

The HO-2 is a named peril policy that covers the structure and personal property against specific risks listed in the policy, which is more limited than the extensive coverage provided by the HO-5. The HO-4, also known as renters insurance, provides coverage for personal property but does not cover the dwelling itself, as it is designed for tenants rather than homeowners.

Therefore, the HO-5 stands out for its comprehensive approach by covering a wider array of risks for both the home and its contents, making it the best option for individuals seeking the most extensive protection under a homeowners policy.