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What is the difference between coverage provided in Section 1 and Section 2 in the Ho-3 policy?

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What is the difference between coverage provided in Section 1 and Section 2 in the Ho-3 policy?

I want to ask this question from Insurance subject matter

I had been asked this question in an interview for internship.

Other related questions to my question are:

What is the difference between coverage provided in Section 1 and Section 2 in the Ho-3 policy?

What does an HO 2 policy cover?

What is section 1 of a homeowners policy?

What two types of coverages are included in a ho 4?

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Correct answer for this question is: HO-2 policies. An HO-2 policy, also called the broad form, offers homeowners more coverage than an HO-1 but less coverage than an HO-3. Like the HO-1 basic form, an HO-2 is a named perils policy, so your dwelling is only covered for the types of damages specifically named in the policy form.Sep 29, 2021

The title of my answer can be What Is An HO-3 Homeowners Insurance Policy?

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