What is the designation for the comprehensive form homeowners policy for owner occupants?

The comprehensive form homeowners policy designed for owner-occupants is known as the HO-3 policy. This specific type of policy offers broad coverage for a homeowner's dwelling and personal property, protecting against a wide range of risks, while also including liability coverage.

The HO-3 policy is highly regarded because it provides coverage on an open-peril basis for the dwelling, which means it covers all perils except those specifically excluded in the policy. It also offers named-peril coverage for personal property, ensuring that any incident causing loss or damage is addressed, as long as it is listed in the policy.

The other designations serve different purposes: the HO-4 version is designed for renters and provides personal property coverage without insuring the building; the HO-5 offers a more extensive level of coverage similar to HO-3 but on a broader, open-peril basis for both the dwelling and personal property; and the HO-6 is tailored for condominium owners, covering personal property and improvements within a condo unit specifically. Therefore, while HO-5 and HO-6 also provide valuable coverage, they do not apply to owner-occupants in the same manner that the HO-3 does.