What is broad form comprehensive home insurance?

Answer 1

The Broad form is the "HO3" also known as the "HOC" and sometimes referred to as "All Risk Coverage.

It's the priciest Homeowners policy available but also offers the broadest coverage, hence the name "Broad Form".

The major difference in the Broad form (HO3) from the Basic Form (HO1) and the Extended Coverage policy (Form HO2) is the peril language appoach. The HO3 is considered to use an "Exclusive" approach where forms 1 and 2 use the "Inclusive" language approach to covered and non-covered perils.