What it does
The HO 5 extends open-perils (special) coverage to personal property as well as the dwelling and other structures, so contents losses do not have to fit a named peril. Section II is the same as the HO 3. ISO's 2022 homeowners program (03 22 editions) is the multistate standard in roughly 40 jurisdictions; the 2011 program (05 11 editions) remains the ISO edition in AL, CA, CT, FL, GA, HI, LA, NC, TX and VI, and North Carolina moves to a 2022-based program on June 1, 2027.
Who needs it
Owner-occupants with higher-value contents who want the broadest standard ISO homeowners coverage; often the base form for preferred and high-value programs.
Key provisions and limits
- Open perils on Coverage C removes the need to prove a named peril, but special limits (theft of jewelry, money, business property) still apply.
- Business-related limits and exclusions are unchanged from the HO 3.
Quoting and selling notes
- Many carriers build package endorsements on the HO 5. Compare with HO 00 03 plus HO 05 24, which gives HO 5-style contents coverage on an HO 3.
- Schedule valuables with HO 04 61 or a personal articles floater (PM 00 09/PM 00 10).
Editions and availability
Editions in use and where they apply: 03 22 (41 jurisdictions); 05 11 (10 jurisdictions: AL, CA, CT, FL, GA, HI, LA, NC, TX, VI).
Homeowners endorsements are built for a specific program edition. When a carrier moves a state from the 2011 (05 11) program to the 2022 (03 22) program, the endorsement editions move with it, so match the endorsement edition to the policy form edition shown on the declarations.
Related forms
HO 00 03, HO 05 24, HO 04 61, HO 00 25 (transition endorsement).
