Florida Insurance Claims Adjuster License Practice Exam

An HO-4 Policy is designed for what type of occupant?

1. Condo owner

2. Home owner

3. All of the above

4. Renter

The correct answer is: Renter

An HO-4 Policy is designed for renters, as it specifically covers a renter's personal property and liability within a rented dwelling. Option A is incorrect because HO-4 policies do not typically cover the physical structure of a condo, which is usually covered by the condo association's insurance. Option B is incorrect because HO-4 policies do not cover homeowners, who should instead have an HO-3 or HO-5 policy that provides coverage for both the structure and personal property. Option C is incorrect because while both condo owners and renters can benefit from an HO-4 policy, it is specifically designed for renters and may not provide adequate coverage for condo owners. Thus, the best option to protect a renter's personal property and liability would be an HO-4 policy.