What Endorsements and Policy Forms Can Do For You

Home owner’s buy insurance to protect themselves from financial loss if something happens to their homes. For several decades the standard policy for most homes was the HO3. This was very generic but served its purpose quite well. It had limitations, however, especially when it came to water damage and the replacement cost of certain items. For older homes, the HO3 policy is still effective and remains in use.

To keep up with the times, a newer more extensive policy was created. The HO5 was developed to cover newer, more elaborate homes. It eliminates many of the restrictions associated with the HO3 policy including the ones pertaining to extended replacement cost and water damage caused by sewage back up. The HO5 takes into account the fact that newer homes often incorporate more amenities than older homes. Basements are fully functional, unlike older homes where they were mostly used for storage. Newer homes are also built to much stricter standards than in previous decades.

For questions regarding endorsements and policy forms pertaining to sewage and water back up issues, contact the North American Advantage Insurance Services office in Irving, Texas. Our office services both Irving as well as the surrounding area providing the best insurance cover possible at affordable rates.