noun
HO-5
In plain English
An upgraded homeowners policy where personal property is also all-risk, not just the dwelling.
Better than HO-3 for higher-value households. The big practical difference: personal property is open peril, so things like accidental damage to electronics or sudden loss of jewelry have a real shot at coverage.
What it covers
Same coverage structure as HO-3 (A through F) but with open-peril coverage on personal property as well as the dwelling.
What it does not cover
It does NOT come standard at every carrier — many regional carriers only write HO-3 and require an HO-5 endorsement for the upgrade.
Where it trips people up
Often confused with HO-3 because the dec page may not say HO-5 explicitly. Look for 'open peril' or 'special form' on Coverage C — that's the giveaway.
The technical version
An ISO homeowners form (HO 00 05) providing open-peril coverage on both the dwelling and personal property, for owner-occupied dwellings.