Georgia Property & Casualty Practice Exam

Which standard homeowners policy includes malicious mischief as a named peril?

1. only HO 3

2. all forms except HO 5 and HO 8

3. all forms except HO 5

4. all forms

The correct answer is: all forms except HO 5

In a standard homeowners policy, the inclusion of specific perils is crucial for understanding what is covered under the policy. Malicious mischief refers to intentional damage done to property, and its inclusion as a named peril varies based on the type of homeowners policy. The correct response indicates that all homeowners policy forms include malicious mischief as a named peril, except for HO 5. The HO 5 form, which is a broader coverage special form that provides coverage on a replacement cost basis for personal property, typically incorporates a more limited scope of named perils, thereby omitting certain coverages such as malicious mischief. This distinctive coverage is a defining feature of many other forms, including HO 3, which provides a comprehensive set of named perils. Understanding these distinctions is essential for maintaining an adequate level of coverage and knowing what types of losses would be compensated in the event of an incident involving malicious mischief. Being aware of the different forms allows property owners to select the policy that best fits their need for protection against potential risks.