Home insurance

[Sam Dal]

guys

i'm sorry for posting here but this forum is all I have access to. I am a 1st time homeowner and am looking to understand the diff between HO2 and HO3. I'm in NYC and not in a flood zone at all. The difference between these quotes is quite large (1200 vs 3000). Are there any 2-3 important items including in HO3 that aren't in HO2? From what I hear, many homeowners simply avoid putting in claims as it results in a big increase in their premium and unless there is a loss of a sizable nature, they just eat the costs

Thanks