The primary difference between HO3 (Homeowners 3) and HO5 (Homeowners 5) home insurance policies lies in the level of coverage they offer for personal property and the dwelling. HO3 policies typically provide coverage for personal property on a named peril basis, meaning that belongings are protected only against specific perils listed in the policy. In contrast, HO5 policies offer open peril coverage for personal property, providing broader protection by covering all perils except those explicitly excluded.

This distinction also extends to the dwelling coverage, with HO5 policies typically offering open peril protection for the structure of the home, while HO3 policies provide coverage on a named peril basis. While both policies offer valuable protection for homeowners, the HO5 policy's open peril approach generally results in a higher premium, reflecting the broader scope of coverage. Homeowners often choose between HO3 and HO5 policies based on their specific needs, the age and condition of their home, and their budget considerations. Consulting with an insurance professional can help individuals make informed decisions tailored to their unique circumstances.

The ownership of United Home Insurance Company may have changed or evolved. United Home Insurance Company is a regional insurance provider operating in specific states, primarily in the Midwest, such as Illinois, Indiana, and Missouri. The ownership structure of insurance companies, including United Home Insurance Company, may involve private ownership, shareholders, or parent companies.