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HO-3 vs HE-7/21  Comparison

CoverageHO-3 PolicyHE7/21 Policy
Replacement cost coverage on dwelling (cost to rebuild back to pre-loss condition)Optional for an additional charge, 125%-150% capGuaranteed (full) replacement cost coverage
Replacement cost coverage on contents (no depreciation taken)Optional for an additional chargeIncluded
Contents-covered perilsNamed perilsAll risk
Law & OrdinanceCaps at 10% of coverage on dwellingCaps at amount of coverage on dwelling
Primary mortgage expenseNot AvailablePays the first mortgage payment while the residence premises is not fit to live in due to a covered loss, for up to 12 months/payments; part of Loss of Use coverage.
Money sublimit$200$1000
Securities sublimit$1500$5500
Business personal property, on premises$2500$5000
Business personal property, away from premises$500$1500
Credit card/fund transfer card forgery$500$5000
Jewelry sublimit$1500 (theft only)$5500 (theft, misplacing or losing, $1500 per item limit)
Firearms sublimit$10,000 (theft only)$10,000 (theft, misplacing or losing)
Silverware sublimit$10,000 (theft only)$10,000 (theft, misplacing or losing)
Land coverageNot availablePays up to $10,000 to replace, stabilize, or rebuild the land necessary to support the dwelling or other structure as a result of a covered loss. This is additional insurance and no deductible applies.
Water back-up of sewers or drainsOptional for additional chargeAutomatic coverage for up to $50,000; optional for up to policy limit at $25 charge.
Loss assessment$1000$5000
Personal injuryOptional for an additional chargeIncluded
Lock replacementNot available$500 (if keys are stolen)
Debris (tree) removal$1000 for any one occurrence, regardless of the number of fallen trees$2000 for any one occurrence with a $1000 limit per tree
Reward coverageNot available$2500 leading to the arrest and conviction of the person committing the crime, resulting in a loss and $5000 for the return of stolen covered property. This coverage is additional insurance.
Witness expenseNot available$250/day loss of earnings and $50/day expenses up to a max of $3000 to appear as a witness in court to prosecute person charged with committing a crime against insured’s property resulting in a covered loss. This is additional insurance and no deductible applies.
Directors & officers coverageNot availableAffords liability coverage up to policy limits when an insured acts in the capacity of an unpaid director or officer of a not-for-profit corporation or organization.
Deductible waived on losses exceeding $50,000Not availableIncluded
Property in vault coverageNot availableProvides a single maximum limit of $50,000 for loss to or theft of silverware, jewelry, and/or securities in any one occurrence when such property is in a safe deposit box stored in a bank vault.
Trees, shrubs, other plants coverage$500 per plant limit$1000 per plant limit
Fire department service charge$500$1000
Power interruption coverageNot availableProvides for loss of use for up to 7 days beginning after the first 2 days of loss of use.
Business pursuits of minorsNot availableLimit of liability applies to insured minors involved in occasional or part-time, self-employed business pursuits normally undertaken by minors.