An HO-2 insurance policy is a type of homeowners insurance policy offering coverage for named perils. Many homeowners opt for this type of coverage when choosing how to insure their home and personal belongings.
Here is some more key information about HO-2 policies:
An HO-2 policy is also sometimes referred to as "peril policy," since it only offers coverage for a specific list of events.
While the list of perils might seem comprehensive, there are some perils - like sinkholes - are excluded.
You'll also need earthquake insurance or flood insurance to protect you in an area prone to these events.
An HO-2 includes dwelling coverage, other structures coverage, personal property coverage and liability coverage.
While not "open peril" policies, the perils included will cover most claims.
An HO-3 policy provides much broader coverage than a HO-2. However, while a HO-3 covers dwelling and other structures with open peril coverage, your personal property may still be subject to a list of named perils.
A HO-2 policy can be much more affordable compared to other policies, but it does have more risk. If you're uncertain about how much homeowners insurance you need to protect your home and belongings, it's best to discuss the details with your insurance company.
Licensed since 1983 Donna is a well known and well respected veteran of the local real estate market. Donna has made her mark as both a manager of a brokerage firm and as an agent. Ms. Coakley McGowan has participated in extensive training in residential real estate and specializes in both Buyer and Seller Agency.
"I am extremely pleased to welcome an Associate of Donna’s caliber and expertise” said Judy Leonelli, Owner. "I have known Donna for many years and have admired her professionalism and talent for the pragmatic resolution to the difficulties that can arise during a transaction. When Donna is involved you know there will be a successful outcome.”
Ms. Coakley McGowan has lived in Upton since 1995 and knows the area and all of its attributes. She currently serves the Town of Upton and the Regional School District as Chairperson of the School Committee. She and her husband Mark and their two children reside in Upton.
