HO-3 Policy Definitions
The purpose of this course is to better equip you in your professional activities as an Insurance Agent.
Welcome to this continuing education course which will discuss the Homeowners insurance policy’s Definition Section in some detail. There are fourteen definitions you will study. We encourage you to read the included ISO Homeowners 3 – Special Form to see how each of these eleven definitions are used throughout the policy.
This course makes a few assumptions about you the student:
- You are a currently licensed Insurance Agent or Adjuster.
- You are interested in additional information, resources, and knowledge regarding insurance and the legal environment of business in general.
This HO-3 course begins with a General Review to include the topics of risk and insurance; insurance contract characteristics; contracts; and legal liability. This sets the stage for our detailed discussion on the Definitions Section of the HO-3; we study all eleven definitions with a review of relevant case law that has helped shaped the construction and interpretation of the HO-3 policy form. You are encouraged to read through the ISO HO-3 Homeowners policy included in this course to review how the defined words appear and reappear throughout the policy.