The major difference between the Homeowners 2 policy and the Homeowners 3 policy is the

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The major difference between the two policies is the insured perils for the dwelling. The Homeowners 2 policy covers 16 named perils, while the Homeowners 3 policy is an open perils policy, meaning it covers any direct physical loss unless specifically excluded. The other differences listed (insured perils for personal property, liability coverage, and coverage amount for other structures) may vary between the two policies, but the main distinguishing factor is the coverage for the dwelling.

The Major Difference Between the Homeowners 2 Policy and the Homeowners