The short answer
HO-8 (modified) is designed for older homes where rebuild cost far exceeds market value (Victorians, brownstones, log homes). Coverage is named perils and settlement is functional replacement or ACV. Premium is 20–40% below HO-3. The trade-off is a large gap between insured value and true rebuild cost on total loss. Consider a specialty carrier or excess and surplus (E&S) instead.
Frequently asked
- Are historical materials covered?
- Functional equivalent, not original — HO-8 pays for modern comparable materials, not custom period restoration.
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