Wisconsin Office of the Commissioner of Insurance

What this document is

Wisconsin Office of the Commissioner of Insurance - PI-015 (R 07/2026) Consumer's Guide to Homeowners Insurance is a reference published by Wisconsin Office of the Commissioner of Insurance (oci.wi.gov). It is one of the Wisconsin documents that insurance license exam questions are written from, including wisconsin property & casualty, wisconsin 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.

• Wis. OCI, PI-015 Consumer's Guide to Homeowners Insurance (Types of Policies, HO-3)

  “For an additional premium, a special personal property coverage endorsement (HO-15) can be added to extend HO-3 to provide “comprehensive” coverage on unscheduled personal property.”

• Wis. OCI, PI-015 Consumer's Guide to Homeowners Insurance (Types of Policies, HO-5)

  “Comprehensive Form (HO-5) is not often sold today, but you could have one from earlier years. It has an even shorter list of exclusions. Not all insurers offer HO-5, but many offer similar policies.”

• Wis. OCI, PI-015 Consumer's Guide to Homeowners Insurance (Dwelling Policy)

  “To qualify for dwelling insurance, a building does not have to be occupied by the owner, and it may even be under construction.”

• Wis. OCI, PI-015 Consumer's Guide to Homeowners Insurance (Personal Property Floater)

  “A personal property floater itemizes each article, gives a description of the article insured, and lists excluded perils. It often provides broader coverage than the coverage granted in your homeowners insurance policy.”

• Wisconsin OCI, PI-015 Consumer's Guide to Homeowners Insurance, Types of Policies (HO-8)

  “Modified Coverage Form (HO-8) is designed to provide package coverage to the owner-occupants of homes that do not meet all the requirements applicable to other homeowner policies. HO-8 provides building and personal property coverage slightly more restrictive than other homeowner policies for...”

• Wisconsin OCI, PI-015 Consumer's Guide to Homeowners Insurance, Buying Enough Coverage (market value)

  “Do not confuse replacement cost with market value. Market value is a real estate term describing the current value of your home if you were to sell it, including the price of the land.”

• Wisconsin OCI, PI-015 Consumer's Guide to Homeowners Insurance, Buying Enough Coverage (guaranteed replacement cost)

  “Guaranteed replacement cost coverage (also called extended replacement cost). Guaranteed replacement cost coverage is more complete coverage for your home. It will pay the full amount needed to replace your home if it is destroyed by a covered peril, even if the amount is more than the policy’s...”

• Wisconsin OCI, PI-015 Consumers Guide to Homeowners Insurance (R 07/2026), Condominium Insurance

  “Check with your agent to see if loss assessment coverage is included in the policy. Loss assessment coverage may provide additional coverage of $1,000 when the condominium association levies an assessment to cover expenses for direct losses to the common property. Additional coverage may be...”

• Wisconsin OCI, PI-015 Consumers Guide to Homeowners Insurance (R 07/2026), Umbrella Liability Insurance

  “Umbrella policies kick in after the liability insurance limits in your homeowners and auto policy are exhausted. For example, if you are responsible for someone’s injury that requires $150,000 of medical treatment and the liability limit of your homeowners policy is $100,000, your umbrella policy...”

• Wisconsin OCI, PI-015 Consumers Guide to Homeowners Insurance (R 07/2026), Home Business

  “Your homeowners policy usually does not cover business-related liability, for example, if a customer or supplier is injured on your property. A homeowners policy does not insure your inability to collect your accounts receivable if your business records are damaged, and your policy will not replace...”

• Wisconsin OCI, PI-015 Consumers Guide to Homeowners Insurance (R 07/2026), Home Sharing and Short-Term Rental

  “Homeowners policies vary but usually exclude or provide very limited coverage for homeowners who are running a business in their home. Once you begin earning income from renting out your home or a room in your home, you are probably considered a home-based business. If you lease out a room (home...”

• Wisconsin Office of the Commissioner of Insurance, A Consumer's Guide to Homeowners Insurance (PI-015), Trees, Plants, and Shrubs

  “Trees, plants, and shrubs around the house are usually covered for 5% of the insurance on the house, up to $500 per item. A homeowners policy provides coverage against theft, fire, lightning, explosion, vandalism, riot, and even falling aircraft. However, it does not cover windstorm damage. Because...”

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More Wisconsin sources

• Wis. Stat. s. 628.34: Unfair marketing practicesState statute
• Wis. Stat. Chapter 632 - Insurance Contracts in Specific Lines (selected life and disability sections)State statute
• Wis. Stat. ch. 600, Insurance, Scope and Administration (selected sections)State statute
• Wis. Stat. ch. 628, Insurance Marketing (full chapter, 39 sections, 628.01-628.98)State statute
• Wis. Stat. ch. 631, Insurance Contracts Generally (full chapter)State statute
• Wis. Stat. ch. 632, Insurance Contracts in Specific Lines (full chapter)State statute
• Wisconsin Accident and Health or Sickness: General and State Examination Content Outline (Series 22-03)Candidate handbook or exam outline
• Wisconsin Casualty: General and State Examination Content Outline (Series 22-07)Candidate handbook or exam outline