Homeowners Broad Peril ACV Product

Effective immediately, we are introducing an optional modification to our current HO-8 coverage form. This modification will give the HO-8 form perils and coverages similar to our HO-2 coverage form. The result will be a Homeowners policy that has an ACV loss settlement but has Broad perils and coverages similar to an HO-2.

The modification will be a new optional endorsement form called HO-8 Special Provisions (BFM-400). Click here to see the form.

When quoting in the Standard plan, you will find a Coverage Form option called "HO-8 Broad Perils". This option will attach the BFM-400 endorsement form.

The underwriting guidelines are simple: If a risk would not normally qualify for an HO-2, it would not qualify for the HO-8 Broad Perils option. Note, the Sewer Backup endorsement (BFM-011) can be added to the HO-8 Broad Peril policy.

If you send us a change to convert a current policy to an HO-8 Broad Perils form, we will need to re-underwrite the dwelling and possibly order a new inspection.
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Please contact us if you have any questions.