Which HO Form is classified as a Comprehensive Homeowners policy?

The HO-5 form is classified as a Comprehensive Homeowners policy because it offers a broad range of coverage that includes protection for both the dwelling and personal property. This form provides coverage on an open perils basis for personal property, meaning that unless specifically excluded, all risks of loss or damage are covered. This contrasts with other homeowners policies, such as the HO-1 and HO-2, which provide named perils coverage that only protects against specific risks listed in the policy. The HO-4 form, also known as renters insurance, covers personal property but does not include dwelling coverage, as it is designed for tenants rather than homeowners. Thus, the HO-5 stands out for its comprehensive nature, making it the most inclusive option among homeowners insurance forms available.