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HO-3 vs HO-5 vs renters — the coverages that actually matter, how to set your dwelling limit, and when to add flood, earthquake, or umbrella.
Side-by-side view of the most common coverage choices in this category.
| Feature | Renters (HO-4) Cheapest | Homeowners (HO-3) | Homeowners (HO-5) Best |
|---|---|---|---|
| Personal belongings | |||
| Liability coverage | |||
| Dwelling coverage | |||
| Open-perils on contents | |||
| Replacement cost on contents | Optional | Optional | |
| Typical annual cost | $180 | $1,400 | $1,750 |
Dwelling limits, personal property, loss of use, and liability — how to size each part of a homeowners policy using replacement cost rather than market value.
Renters insurance costs about the price of two coffees a month and covers belongings, liability, and temporary housing. Here is exactly what it pays for and where it stops.