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HO3 vs HO5 Homeowners Policies
What are the differences between an HO3 and an HO5?
The HO3 has been the standard homeowners policy for decades, and is adequate for most home owners' personal insurance needs. For older homes, it's still a good choice. But today, there's something better, particularly for newer, well maintained homes. It's known generically as the HO5. While the HO5 is offered only on a limited basis - to newer homes, those with higher values, those meticulously maintained - if you're eligible, you should protect yourself with this broader policy form. In some cases, depending on the year of construction, the town you live in, your claims history, and other rating factors, you can buy an HO5 for slightly more than a traditional HO3. The starting point of the HO5 is how it covers your Contents (also known as Personal Property on your policy page). While the HO3 covers your Contents on a "named perils" basis, the HO5 covers contents on an "open perils" basis. In addition, many of the limitations of the HO3 are removed, existing coverages expanded, and new coverages added. Several common provisions that have had to be added to the HO-3 by specific endorsement are included automatically in the HO5. For example, with an HO5, you don't have to check to see if "replacement cost" coverage on your home and on your contents has been added to your policy as it's included automatically. “Perils" is the insurance industry's term for what's insured against in a property policy. There's a fundamental difference between "Open" and "Named" perils coverage: Open Perils provides insurance coverage for any reason not specifically excluded. Named Perils provides coverage only for those perils listed in the policy, such as fire, theft, falling objects and vandalism. Since we don't know what the future brings, if you're eligible for an HO5, get it. An interesting point of interest for us Audiophiles is that any damage our equipment might sustain from a utility surge, or non-direct lightning strike is “Not Covered’ under an EO3 policy. The same however would be Covered under an EO5 policy.
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Ivan FLORIDA MX136, MC1.2KW(10) MC2KW(2), MCD1100, MS750(2) MVP881, C1000C/P/T, MPC1500, HT-2 SUBS(2) HT3F(2) WS350(2) XRT2K, XCS2K, XR27(2) XCS350(2) JL GOTHAM v2 SUBS(2) SILENZIO MUSIC SERVER, LUMAGEN RADIANCE SCALER, SONY VPH-G90U 4K PROJECTOR, STEWART 120" MOTORIZED SCREEN, CINEMA-TECH SEATING, WW PLATINUM CABLES Reference System: ACCUPHASE A300 AMPS, C3900 PRE-AMP, DP1000 CD/SACD TRANSPORT, DC1000 DIGITAL PROCESSOR, DG-68 DIGITAL EQUALIZER, T1200 FM STEREO TUNER, PS1230 POWER SUPPLY, HRS-SXR CUSTOM RACK w/ M3X SHELVES, TAD REFERENCE ONE MK2 LOUDSPEAKERS, WW PLATINUM CABLES CAPE COD MX150, MC501(2) MC1.2KW(10) MC2301(2) MR88, MVP881, MCD1100, MDA1000, C1000C/P/T, MPC1500, ESOTERIC K-01X 30th ANNIVERSARY (BLACK) SACD/CD PLAYER, G02-X CLOCK, HT3F(2) XRT2K, XCS2K, XR27(2) JL GOTHAM v2 SUBS(2) JL FATHOM F113v2 SUBS(4) SOUND ANCHOR STANDS(2) KALEIDESCAPE STRATO & TERRA SERVERS 80-TB, LUMAGEN RADIANCE SCALER, SONY VPH-G90U 4K PROJECTOR, STEWART 120" SCREEN, SONUS FABER STRADIVARI, SILENZIO MUSIC SERVER, FORTRESS SEATING, WW PLATINUM CABLES Analog Rig: CLEARAUDIO INNOVATION WOOD, UNIVERSAL ARM w/ Da VINCI' CART, 2nd UNIVERSAL ARM w/ GOLDFINGER STATEMENT CART, HRS-MXR REFERENCE RACK-GLOSS BLACK w/ M3X SHELVES, AESTHETIX RHEA SIG PHONO-PRE, BRYSTON BHA-1 HEADPHONE AMP, WW PLATINUM CABLES Reference System: BURMESTER 911MK3 AMP(3), 088 PRE-AMP, 089 CD PLAYER, 100 PHONO PRE-AMP, 948 POWER CONDITIONER, ACCUPHASE DG-68 VOICING EQUALIZER, AVID ACUTUS REFERENCE SP TT, GRAHAM PHANTOM II SUPREME ARM, BENZ MICRO LP-S CART, GRANDIOSO P1X/D1X STACK, G1X RUBIDIUM MASTER CLOCK, N05 NETWORK PLAYER, SILENZIO MUSIC SERVER, HRS-SXR CUSTOM RACK w/ M3X SHELVES, SONUS FABER AIDA SPEAKERS, JL FATHOM F113v2 SUBS(2) SOUND ANCHOR STANDS(2) WW PLATINUM CABLES Library System: GRANDIOSO M1 MONOBLOCK AMPS, C1 LINESTAGE PRE-AMP, K1X CD/SACD PLAYER, G1 MASTER RUBIDIUM CLOCK, E02 PHONO-PRE, SILENZIO MUSIC SERVER, AERIAL ACOUSTICS 20T V2, AERIAL SW12 SUBS(2), CANTON REF K1’s, VPI HRX TT w/ SDS POWER SUPPLY, ORTOFON CADENZA BLACK CART, KLAUDIO RCM, SHUNYATA DENALI 6000/S v2, SHUNYATA OMEGA QR’s, WW PLATINUM CABLES Esoteric/Bryston System: ESOTERIC C02-X PRE-AMP, P-02X TRANSPORT, D02-X DAC, G02-X CLOCK, BRYSTON 28B3 CUBED MONOBLOCK AMPS(4), BRYSTON BHA-1 HEADPHONE AMP, SHUNYATA DENALI 6000/S v2(2) EVEREST 8000 POWER CONDITIONER(2) ALTAIRA CG & SG HUBS, AMR-DP777-SE DAC, SILENZIO MUSIC SERVER, TAD REFERENCE ONE MK2 LOUDSPEAKERS, QUADRASPIRE RACK, WW PLATINUM CABLES Accuphase/Canton System: ACCUPHASE E800 INTEGRATED, DP570 CD/SACD PLAYER, T1200 FM STEREO TUNER, DG-68 VOICING EQUALIZER, PS530 POWER SUPPLY, CANTON REF K3’s, CANTON REF K5’s, SILENZIO MUSIC SERVER, HRS MXR REFERENCE MAHOGHANY RACK w/ M3X2 SHELVES, WW GOLD CABLES Last edited by Masterlu; 02-08-2019 at 07:51 PM. |
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Very helpful- thank you!
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#3
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interesting Ivan, thanks for the 'heads up' ......
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#4
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Thanks Ivan. Great information. I will pursue this for our new home.
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[list] Analog: VPI Prime Signature Turntable in Rosewood, Ortofon Cadenza Bronze, Digital: Aurender N10, Holoaudio KTE May, Oppo 203, Preamplifier: Luxman C-10X, Parasound JC3 Jr, Amplifier: Luxman M-10X, Speakers: Bowers & Wilkins 801 D4, Power Management: Audioquest Niagara 5000, Cables: Nordost Tyr 2, Wireworld Eclipse 7 & 8, , Rack: Core Audio Designs plyKraft 3L (x2) |
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Is that an H05 or an E05?
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Two Channel: McIntosh C2300 preamp, MC601 amps x2, MR88 tuner, MEN220; Esoteric K-03X; Aurender N100C 4TB; B&W 802D2 Diamonds, JL Audio F113V2 x 2 on Sound Anchor Sub Stands; VPI Classic Signature Piano Black, Ortofon Cadenza Black, VPI SDS, periphery ring, StillPoints center weight, Gingko Audio ClaraVu Dust Cover CT, KAB SpeedStrobe, Dr. Feickert Analogue Protractor; Sonos with W4S digital modification to W4S Remedy to Esoteric; W4S PS1 Linear Power unit for the 2x Remedy and Recovery w/ W4S PS1 Power Cord; Torus RM20; Wireworld Silver Series 7 Electra/Starlight/Eclipse cables and WW Platinum Power Cord for Amps and Platinum USB for Aurender; KLAUDIO RCM; Steve Blinn Designs extra wide three shelf rack; GIK Acoustics panels and bass traps, StillPoints Ultra Minis under all gear and Stillpoint Ultra SS under amps and speakers. Home Theater 7.2: McIntosh MX150, MC452, MC207; B&W 803D2 Diamonds, HTM2 center, CWM7.3 surrounds; JLAudio F112 x2 subs; Panasonic TC-P65ZT60 65" Studio Master Plasma; Oppo 205; Crown FM Two Tuner; Sonos with W4S Remedy; Apple TV; Furman Elite 20 amp PFi x2; WW and AQ Cables/Cords; Salamander Synergy Four Bay Cabinet Office 2ch with McIntosh vintage refurbished gear: McIntosh MC275V6 x2 tube amps; Klipsch Cornwall I vintage speakers (1982); AQ Dragonfly Red DAC/Jitterbug/cables; PS Audio Dectet Power Center; Mcintosh C28, MC2105, MR78 (with mod), MQ101, each with original walnut cabinet and panloc (1976), MCD7008 (1996), ML1C speakers (1976); Bang & Olufsen Beogram 4002 turntable (1976) with new SoundSmith SMMC20CL cartridge (2015); Salamander double rack |
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Ivan FLORIDA MX136, MC1.2KW(10) MC2KW(2), MCD1100, MS750(2) MVP881, C1000C/P/T, MPC1500, HT-2 SUBS(2) HT3F(2) WS350(2) XRT2K, XCS2K, XR27(2) XCS350(2) JL GOTHAM v2 SUBS(2) SILENZIO MUSIC SERVER, LUMAGEN RADIANCE SCALER, SONY VPH-G90U 4K PROJECTOR, STEWART 120" MOTORIZED SCREEN, CINEMA-TECH SEATING, WW PLATINUM CABLES Reference System: ACCUPHASE A300 AMPS, C3900 PRE-AMP, DP1000 CD/SACD TRANSPORT, DC1000 DIGITAL PROCESSOR, DG-68 DIGITAL EQUALIZER, T1200 FM STEREO TUNER, PS1230 POWER SUPPLY, HRS-SXR CUSTOM RACK w/ M3X SHELVES, TAD REFERENCE ONE MK2 LOUDSPEAKERS, WW PLATINUM CABLES CAPE COD MX150, MC501(2) MC1.2KW(10) MC2301(2) MR88, MVP881, MCD1100, MDA1000, C1000C/P/T, MPC1500, ESOTERIC K-01X 30th ANNIVERSARY (BLACK) SACD/CD PLAYER, G02-X CLOCK, HT3F(2) XRT2K, XCS2K, XR27(2) JL GOTHAM v2 SUBS(2) JL FATHOM F113v2 SUBS(4) SOUND ANCHOR STANDS(2) KALEIDESCAPE STRATO & TERRA SERVERS 80-TB, LUMAGEN RADIANCE SCALER, SONY VPH-G90U 4K PROJECTOR, STEWART 120" SCREEN, SONUS FABER STRADIVARI, SILENZIO MUSIC SERVER, FORTRESS SEATING, WW PLATINUM CABLES Analog Rig: CLEARAUDIO INNOVATION WOOD, UNIVERSAL ARM w/ Da VINCI' CART, 2nd UNIVERSAL ARM w/ GOLDFINGER STATEMENT CART, HRS-MXR REFERENCE RACK-GLOSS BLACK w/ M3X SHELVES, AESTHETIX RHEA SIG PHONO-PRE, BRYSTON BHA-1 HEADPHONE AMP, WW PLATINUM CABLES Reference System: BURMESTER 911MK3 AMP(3), 088 PRE-AMP, 089 CD PLAYER, 100 PHONO PRE-AMP, 948 POWER CONDITIONER, ACCUPHASE DG-68 VOICING EQUALIZER, AVID ACUTUS REFERENCE SP TT, GRAHAM PHANTOM II SUPREME ARM, BENZ MICRO LP-S CART, GRANDIOSO P1X/D1X STACK, G1X RUBIDIUM MASTER CLOCK, N05 NETWORK PLAYER, SILENZIO MUSIC SERVER, HRS-SXR CUSTOM RACK w/ M3X SHELVES, SONUS FABER AIDA SPEAKERS, JL FATHOM F113v2 SUBS(2) SOUND ANCHOR STANDS(2) WW PLATINUM CABLES Library System: GRANDIOSO M1 MONOBLOCK AMPS, C1 LINESTAGE PRE-AMP, K1X CD/SACD PLAYER, G1 MASTER RUBIDIUM CLOCK, E02 PHONO-PRE, SILENZIO MUSIC SERVER, AERIAL ACOUSTICS 20T V2, AERIAL SW12 SUBS(2), CANTON REF K1’s, VPI HRX TT w/ SDS POWER SUPPLY, ORTOFON CADENZA BLACK CART, KLAUDIO RCM, SHUNYATA DENALI 6000/S v2, SHUNYATA OMEGA QR’s, WW PLATINUM CABLES Esoteric/Bryston System: ESOTERIC C02-X PRE-AMP, P-02X TRANSPORT, D02-X DAC, G02-X CLOCK, BRYSTON 28B3 CUBED MONOBLOCK AMPS(4), BRYSTON BHA-1 HEADPHONE AMP, SHUNYATA DENALI 6000/S v2(2) EVEREST 8000 POWER CONDITIONER(2) ALTAIRA CG & SG HUBS, AMR-DP777-SE DAC, SILENZIO MUSIC SERVER, TAD REFERENCE ONE MK2 LOUDSPEAKERS, QUADRASPIRE RACK, WW PLATINUM CABLES Accuphase/Canton System: ACCUPHASE E800 INTEGRATED, DP570 CD/SACD PLAYER, T1200 FM STEREO TUNER, DG-68 VOICING EQUALIZER, PS530 POWER SUPPLY, CANTON REF K3’s, CANTON REF K5’s, SILENZIO MUSIC SERVER, HRS MXR REFERENCE MAHOGHANY RACK w/ M3X2 SHELVES, WW GOLD CABLES |
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For those with higher end homes I would also strongly recommend Chubb. In fact when a surge hit my home many years ago they covered the extensive damage to my various systems in the house without any questions. Great insurance to deal with but probably not the cheapest.
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Quote:
https://m.youtube.com/watch?v=CpiP_jN1Pv4
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Tim Amplifiers: McIntosh 1.2 Kw Preamp: Esoteric C03 Speakers: Salon2 with F113v2 x 2 Analog: VPI Avenger Reference with Ortofon A95 and Esoteric E03 phonostage Digital: Silenzio and Esoteric K03-x and G02 Power Management: PS Audio P10 x 2, P5 Cables: WW PE7 SC & IC, Furutech Flux-50 Filters Rack: HRS SXR Signature |
#9
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They have full and half versions of their policies.
Seriously I have an umbrella policy with them. Top shelf.
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Main System: Amati Futura Mains Amati Homage VOX Center, Proac Response 1sc Rears, Three MC2301's for L,C,R MC 602 for the rears C 1100, MX 151, MCD 1100, MR 80 Nottingham Dais with Wave Mechanic Sumiko Palo Santos Presentation SurfacePro 3, RPi 4, ROON, WW Starlight Platinum USB, Schiit Yggdrasil, Benchmark DAC3 HGC MX 151, OppO BDP-95, JVC RS-500 DILA projector, 106" diagonal Stewart Luxus Screenwall Deluxe with Studiotek 130 G3 material. Lake House: Ohm F, MC 275V, C2300, MR 77, Rega P3 OnDeck: McIntosh MAC 4300v |
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Thanks for posting this info, Ivan. Homeowner's insurance can be one of the most important things we buy, yet many people fail to give it its due attention. Speaking from sad experience, having a good policy with excellent coverage helped saved my sanity once, decades ago after a major loss. The carefully chosen policy and the agent's familiarity with my house and circumstances made all the difference. Your homeowner's insurance terms deserve the same scrutiny as your investments. And for many people, umbrella insurance is something else that is worth considering.
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