Copyright 2008 The Insurance Files
    Sometimes insurance companies are reluctant to provide insurance policies on older homes because the cost of replacing damaged items or repairing external damage can be high. For that reason, HO-8 homeowners insurance was created. HO-8 is a policy designed specificially for old homes. The same perils or adverse events that are covered under the HO-2 policy are covered under the HO-8 policy. However, the manner in which the home is protected is different. If any damage occurs as a result of an accident covered under the policy, only the repair costs will be paid for, or if the home is lost, the cash value will be paid. Replacing the home would make for a costly policy and that is not the intention of the company offering it. HO-8 policies are most fitting for homes that are worth less than what the cost would be to rebuild it. To

get an HO-8 homeowners insurance policy, the best route to take would be to speak to your local agent, but if you would like another home insurance policy, get a free homeowners insurance quote and protect your home before an unexpected accident happens.