Most companies sell four basic types of home owner's coverage.
Forms HO1, HO2, HO3 are for home owners and HO4 is for renters. There is also an HO6 for condominium residents. There are some companies that use their own format or use another system of classifying home owner's policies. This protects your home and your personal property, such as furniture, carpeting, personal effects, etc. Form HO1 provides only basic insurance, covering your home against only those hazards that are listed that could cause serious financial hardship.