Florida Office of Insurance Regulation

What this document is

Florida Office of Insurance Regulation - Homeowners Insurance (policy types HO-1, HO-2, HO-3, HO-5, HO-8, HO-4, HO-6, HO-7) is a reference published by Florida Office of Insurance Regulation (floir.gov). It is one of the Florida documents that insurance license exam questions are written from, including florida property & casualty, florida personal lines practice questions. This page summarizes it and points to the official version, which is the text to rely on.

Sections cited in practice questions

Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.

• Fla. OIR, Homeowners Insurance Policies (HO-5 Comprehensive Form)

  “While HO-3 only offers open-peril coverage on the home’s structure, HO-5 features open-peril coverage for personal belongings, as well as the structure of the home.”

• Florida OIR, Homeowners Insurance Policies (HO-2 Broad Form)

  “HO-2 policies are a broad type of home insurance. Similar to HO-1 policies, this type of home insurance only covers perils named in the policy. Aside from covering the home’s structure, HO-2 usually covers personal belongings, and some policies provide coverage for personal liability. The broad...”

• Florida OIR, Homeowners Insurance Policies (HO-5 Comprehensive Form)

  “An HO-5 policy also has higher limits of coverage for valuables like jewelry. Other differences between the two policies can differ by insurance company. While policies can differ by insurance company, HO-5 policies are usually more expensive than HO-3, and fewer homes are eligible for an HO-5 policy.”

• Florida OIR, Homeowners Insurance Policies (HO-8 Older Home Form)

  “Like HO-1 and HO-2, older home insurance uses named-peril policies. HO-8 policies usually cover dwelling, personal property, liability, and loss of use from named perils. The named perils included in a HO-8 policy are the same perils named in an HO-1 policy.”

• Florida Office of Insurance Regulation, Homeowners Insurance, Renters (HO-4), HO-4 Tenant

  “HO-4 policies are commonly known as renters insurance and provide coverage for tenants who want insurance for their rented dwelling. The purpose of this kind of policy is to protect items within the dwelling, as well as any permanent fixtures like cabinets that were installed by the renter. Most...”

• Florida Office of Insurance Regulation, Homeowners Insurance, Condominium (HO-6), HO-6 Condo Form

  “HO-6 policies offer coverage for condominiums. The condo type of home insurance is often referred to as “walls-in” coverage, because it covers the interior of a structure, while the condo association’s master policy will cover the exterior structure and common areas. Condo insurance usually uses a...”

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Questions about this source

More Florida sources

• Florida Administrative Code, Division 69O: chs. 69O-123 (Civil Remedy), 69O-124 (Anti-Coercion), 69O-125 (Unfair Discrimination), 69O-142 (Insurer Conduct), 69O-153 (Deceptive Insurance Practices), 69O-189 (Workers' Compensation), 69O-196 (Premium Finance Companies), 69O-215 (Agents), 69O-220 (Adjusters), 69O-228 (Continuing Education), 69O-230 (General Ethics and Disclosure Requirements) and 69O-231 (Penalty Guidelines for Insurance Representatives) (98 rules, 69O-123.001-69O-231.160)Regulation
• Florida Administrative Code, Division 69O (Office of Insurance Regulation): chs. 69O-166 (Property and Casualty Insurer Practices), 69O-167 (Property and Casualty Insurance Contracts), 69O-170 (Property and Casualty Insurance Rating), 69O-175 (Motor Vehicle Insurance) and 69O-176 (Motor Vehicle Insurance Requirements), 87 of the 89 rules the publisher lists (the two omitted are 69O-170.021 and 69O-170.022, transferred stubs whose .doc file holds a title and nothing else) (87 rules, 69O-166.021-69O-176.022)Regulation
• Florida Statutes s. 626.112 - License and appointment requiredState statute
• Florida Statutes s. 626.2815 - Continuing education requirementsState statute
• Florida Statutes s. 626.611 - Grounds for compulsory refusal, suspension, or revocation of licenseState statute
• Florida Statutes s. 626.621 - Grounds for discretionary refusal, suspension, or revocation of licenseState statute
• Florida Statutes s. 626.641 - Duration of suspension or revocation of licenseState statute
• Florida Statutes s. 626.7451 - Managing general agents; required contract provisionsState statute