What is one difference between an HO-3 and an HO-5 policy? (1 point) Responses They are the same, but one is newer. They are the same, but one is newer. The HO-3 policy does not include liability. The HO-3 policy does not include liability. The HO-3 uses replacement cost reimbursement for dwelling and actual cash value for personal property while the HO-5 uses replacement cost for dwelling and for personal property. The HO-3 uses replacement cost reimbursement for dwelling and actual cash value for personal property while the HO-5 uses replacement cost for dwelling and for personal property. An HO-5 does not include coverage for the dwelling.
The HO-5 uses replacement cost reimbursement for both dwelling and personal property, while the HO-3 uses replacement cost reimbursement for dwelling and actual cash value for personal property.
