An HO-5 Policy is a type of homeowners insurance that provides comprehensive coverage for both the structure of a home and the personal belongings inside it. This policy protects against a wide range of risks, including damage from fire, theft, and certain natural disasters. It is often considered one of the most extensive homeowners insurance options available. Unlike other policies, the HO-5 Policy typically covers personal property on an "open perils" basis, meaning it protects against all risks unless specifically excluded. This offers homeowners greater peace of mind, knowing that their possessions are well-protected under various circumstances.