Typically designed for older single family homes, the HO8 insurance policy will cover the actual cash value of the home should the home be damaged or destroyed. A lot of homeowners may have trouble getting regular homeowners insurance to cover replacement cost because of the age of the home. Talk to a professional insurance agent for more information.
What is the difference between HO3 and HO8?
HO3 is a policy that covers the most perils while HO8 is designed for older homes that lets you receive the actual cash value for your damages after deducting the depreciation cost.
What States Offer HO8 Insurance?