What kind of property does an HO 3 policy primarily cover?

An HO 3 policy primarily covers real property, including the structure of the home. This type of policy, which is commonly used for homeowners, provides coverage for the dwelling itself against a range of perils, typically on an open perils basis. This means that, unless explicitly excluded, the policy covers damage to the home and attached structures resulting from various risks such as fire, theft, and vandalism.

While personal belongings are also typically covered under an HO 3 policy, this coverage is done on a named perils basis. Therefore, the primary focus of the HO 3 policy is indeed the real property rather than just personal belongings or rental properties. The distinction is important, as the main purpose of the HO 3 is to ensure the home's structural integrity and safety, making it a critical part of home insurance.

The other choices involve either a narrow focus on personal belongings or specific circumstances such as rental properties, which are not the main intentions of the HO 3 policy. Thus, the correct understanding of an HO 3 policy’s coverage underscores its emphasis on protecting the primary structure of the home itself.