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🏡 '''HO-1''' is the most basic homeowners insurance form in the [[Definition:Insurance Services Office (ISO) | ISO]] standardized policy series, providing [[Definition:Named perils | named perils]] coverage for both the dwelling and [[Definition:Personal property | personal property]]. Often referred to as a "basic form," the HO-1 covers a limited list of specifically enumerated [[Definition:Peril | perils]] — traditionally including fire, lightning, windstorm, hail, explosion, riot, aircraft and vehicle damage, smoke, vandalism, theft, and volcanic eruption. Because of its narrow scope compared to broader forms like the [[Definition:HO-3 | HO-3]] or [[Definition:HO-5 policy | HO-5]], the HO-1 has become uncommon in the modern U.S. personal lines market, with many [[Definition:Insurance carrier | carriers]] no longer offering it.

🔍 Under the HO-1 form, the policyholder can only recover for a loss if the damage was caused by one of the perils explicitly listed in the policy. If a cause of loss falls outside that enumerated list — such as water damage from a burst pipe in versions of the form that exclude it, or weight of ice and snow — the [[Definition:Claim | claim]] is not covered. This stands in contrast to [[Definition:Open perils | open perils]] forms, where coverage applies to any cause of loss not specifically excluded. The HO-1 still includes the standard [[Definition:HO policy | HO policy]] structure with Coverage A through Coverage F sections, providing [[Definition:Dwelling coverage | dwelling]], other structures, personal property, [[Definition:Loss of use coverage | loss of use]], [[Definition:Personal liability insurance | personal liability]], and medical payments protections. However, the limited perils list on both the dwelling and contents sides means the policyholder bears significantly more [[Definition:Residual risk | residual risk]] than under broader forms.

📉 The HO-1's decline in market relevance reflects a broader industry trend toward offering — and regulators expecting — more comprehensive baseline protection for homeowners. Many [[Definition:State insurance regulator | state regulators]] and consumer advocacy groups view the HO-1 as insufficient for today's risk environment, particularly given evolving exposures such as [[Definition:Water damage | water damage]] and severe convective storms. Most [[Definition:Insurance agent | agents]] and [[Definition:Insurance broker | brokers]] steer clients toward the HO-3 at minimum, and some states have effectively discontinued the HO-1 through regulatory action or market withdrawal. Still, the form retains educational significance: understanding HO-1 helps insurance professionals and [[Definition:Insurtech | insurtech]] product designers appreciate the spectrum of coverage breadth across the HO series and the foundational distinction between named perils and open perils policy construction.

'''Related concepts:'''
{{Div col|colwidth=20em}}
* [[Definition:HO-2]]
* [[Definition:HO-3]]
* [[Definition:Named perils]]
* [[Definition:HO policy]]
* [[Definition:Insurance Services Office (ISO)]]
* [[Definition:Open perils]]
{{Div col end}}

Definition:HO-1 - Revision history

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