Hazard insurance is a type of insurance that will cover the insured personâ€(tm)s property against different types of natural disaster such as fire or storms.
Protection against damage caused by fire, windstorms, or other common hazards; required by many lenders in an amount at least equal to the mortgage
Required on all mortgage loans. This insurance covers loss due to fire, wind, vandalism, and other hazards. Flood, earthquake and riot insurance are typically separate policies unless specifically stated on the hazard policy.
Designed to cover the insured against loss due to fire, flood, wind or other disaster.
Insurance that protects the homeowner and lender against damage to home or property due to fire, wind, vandalism or other hazards.
An insurance policy which covers property and contents.
Casualty (fire and other damage) insurance placed on improvements (structures) on a parcel of real property. Also referred to as "homeowners' insurance".
Homeowners insurance which covers the dwelling/property.
this is insurance for at least the full replacement value of the home. The insurance covers losses caused by physical risks such as fire, wind and water. Most lenders require hazard insurance.
Insurance protecting against loss to real estate from physical damage, from fire, wind, vandalism, or other hazards.
An insurance policy that covers any physical damage to your property, such as fire, wind, hail, and other natural disasters.
Insurance to protect the homeowner and the lender against certain losses such as fire, vandalism, storms and certain other natural disasters.
A type of insurance bought to insure property against any losses due to fire, theft, vandalism, etc. Most Deeds of Trust require the Buyer to carry hazard insurance at all times in order to protect the Seller from insurable losses.
Lender required insurance that protects the property against loss due to fire or other natural disaster and usually covers the insured for liability. Also known as homeowner's insurance.
This policy protects against threats from fire or natural disaster.
Protection for the homeowner against loss of property due to hazards such as fire, hail damage, etc. Lenders require this insurance when making a loan.
Insurance against damage caused by fire, certain natural causes, vandalism, and other additional causes (based on the insurance policy).
Protects against damages caused by fire, floods, and other common hazards. HUD U.S. Department of Housing and Urban Development. Interest A charge paid for borrowing money Lien A claim by one person on the property of another as security for money owed. Lock The lender's guarantee that the mortgage rate quoted will be good for a specific number of days
Protects the property of a mortgaged premise.
Insurance which protects the insured against losses caused by fire, wind, vandalism and natural disasters. Hazard Insurance does not protect against floods or earthquakes.
Often confused with "Home Owner's" insurance, it's designed to compensate for specific hazards including fire and wind. An "all-risk home owner's policy" provides more complete coverage.
Property insurance that protects homeowners against theft, personal liability, and fire.
This is a type of insurance that gives you protection on the property in case of wind, fire, or other common hazards.
A casualty policy covering real estate property against “multiple perils
Policy on a property against fire and other risks. A homeowner’s policy may have additional coverage for theft, liability, etc. not covered by a fire insurance policy.
Insurance protecting against loss to real estate caused by fire, some natural causes, etc. Also known as Homeowners Insurance.
Insurance coverage that compensates the property owner for physical damage to the dwelling caused by wind, fire or other natural disasters. It generally does not over damage caused by flood, earthquake and/or other types of hazards that typically require special coverage or separate endorsements.
an insurance policy that combines protection against damage to a dwelling and its contents with protection against claims of negligence or inappropriate action that result in someone's injury or property damage
An insurance policy which insures the property and its contents in case of a fire, theft, natural disaster, or various acts which can have a detrimental effect on property and occupants. Policy coverage does vary but generally is required to cover the value of property.
coverage that included hazard insurance, as well as personal liability and theft.
Insurance that protects property against damage caused by fire, windstorm, vandalism or other common hazards.
This insurance protects you and your lender against damage from hazards such as fire and wind storm.
A policy that protects against damage to a property caused by fire, wind or other hazards.
A contract whereby, for an agreed premium, one party undertakes to compensate the other for loss on a specific subject by specified hazards, such as acts of God or war.
Insurance against damage to your home from vandalism, fire and other hazards. You are required to carry insurance equal to the value of your home.
Covers dwelling and contents for fire, wind, and water damage, theft, and other specified losses.
A homeowner's insurance policy through which an insurance company protects the insured from specified losses, such as fire, windstorm and the like.
An insurance policy that covers physical damage to a property from fire, wind, or other hazards.
An insurance contract where the insurer contract pays for loss on a home from certain hazards, such as fire, in exchange for the purchaser's regular payment of premiums (or the cost of insurance).
Also referred to as homeowners or fire insurance; coverage for physical damage to a property from fire, wind, vandalism or other hazards.
An insurance policy where by, for a premium, an insurer agrees to insure property against loss.
Lenders usually require that you buy hazard insurance in case your home is damaged by fire, storms, vandalism, and so on. The cost can vary according to the county where the home is located. The actual amount will be calculated when you choose your insurance carrier and policy.
Insurance which protects borrower and lender against natural hazards. Typically, the lender is named the "loss payee" in loan documents. Thus, and in the case of a loss to the home, the insurance company pays the lender that sum remaining upon the loan. The home owner receives the difference between the loan payoff and the policy amount.
insurance on real property to cover loss due to certain hazards, such as fire, wind, or flood.
A contract between purchaser and an insurer that covers the insured for loss of property due to hazards that are spelled out in the agreement.
Insurance coverage that provides an insured owner compensation for losses resulting from fire, wind, vandalism, or other hazards.
Insurance to provide compensation if the improvements are damaged or destroyed. It is almost always a requirement of loans.
Policy insures property against fire and other casualties. Click here for more information.
Casualty insurance that protects property damage caused by fire and some natural causes. (Example: Vandalism)
Insurance that protects against damage caused by fire, windstorm and other common hazards. Many lenders require homeowners to carry it in an amount at least equal to the mortgage.
A contract whereby an insurer, for a premium, will cover a home for loss by fire or windstorm.
Insurance that protects against common hazards such as fire or winds. It is generally required by all lenders before a mortgage is approved.
Insurance protection against damage to a property from fire, windstorms, and other common hazards.
compensates for property damage from specified hazards such as fire and wind.
Insurance coverage that compensates for physical damage by fire, wind, or other natural disasters to the property.
Insurance on a property against damages caused by fire, wind storms, and similar risks.
Insurance against damage to property from physical hazard, such as fire and windstorm.
A contract whereby an insurer, for a premium, undertakes to compensate the insured for loss on a specific property due to certain hazards (i.e. fire).
Insurance which protects the borrower and home from specified losses, such as fire, windstorm, etc.
Insurance that covers for fire and certain physical damage to real estate.
An insurance policy that protects the property against damage caused by fire, wind or some other hazards. In the case of an attached condominium, the Homeowners Association will include hazard insurance on the structure and the homeowner should obtain separate insurance coverage for the contents of their home. In the case of a detached (i.e. single family) home, the buyer will be required to show proof of hazard insurance prior to the close of escrow.
() Insurance protecting against loss to real estate caused by fire, some natural causes, vandalism, etc., depending upon the terms of the policy.
policy insuring individuals against any, some, or all of the risks of loss to personal dwellings or the contents thereof of the personal liability pertaining thereto.
Insurance that protects a homeowner and lender against losses due to damage from such disasters as fire, wind, or other common hazards.
Pays for damages from fire, storms, etc. Also known as "Homeowner's Insurance."
Real estate insurance protecting against loss caused by fire, etc., depending on the terms of the policy.
Protection against damage cause by fire, wind or other common hazards. Most lenders require borrowers to carry it in an amount at least equal to the mortgage.
Insurance that compensates for fire, wind, vandalism or hazardous physical damage to a property. Buyer may add liability insurance and extended coverage for personal property.
A contract between purchaser and an insurer, to compensate the insured for loss of property due to hazards (fire, hail damage, etc.), for a premium. This is an insurance policy many lenders require a homebuyer to have to cover damages due to occurrences like fires or storms.
A form of insurance in which the insurance company protects the insured from specified losses, such as fire, windstorm and the like.
A form of insurance that protects the insured property against physical damage such as fire and tornadoes. Mortgage lenders often require a borrower to maintain an amount of hazard insurance on the property that is equal at least to the amount of the mortgage loan.
Insurance that covers events such as earthquakes, floods, tornadoes, and other acts of god.
Insurance coverage that in the event of physical damage to a property from fire, wind, vandalism, or other hazards.
Insurance to protect a property from loss due to fire and other types of damage. This is required in order to get a mortgage.
Covers property from natural disasters, including fire, wind, vandalism, and other hazards.
Hazard insurance is also known as casualty insurance or homeowner's insurance. This is the insurance you buy to cover fire or other damage to your home. All lenders require their borrowers to obtain hazard insurance. See Closing Tips for Buyers for more information.
Also referred to as homeowner’s insurance. Hazard Insurance covers losses due to fire, vandalism and theft among other items noted in the agreement specific to the home, insurer and insured in question.
An insurance policy for the Homeowner to protect against fire, windstorm and other specified hazards or perils.
In addition to basic homeowner's insurance (see below), this insurance covers you in the event of physical damage to a property from fire, wind, vandalism, or other hazards. The U.S. will likely see more hazard insurance claims in 2005 than any prior year in its history.
A type of insurance designed to cover damage caused by a peril specified in the policy of insurance (i.e. fire, flood, etc.).
A contract between purchaser and an insurer, to compensate the insured for loss of property due to hazards (fire, hail damage, etc.), for a premium. Required on all first mortgage liens by the lender.
Insurance policy placed on property improvements that covers damage by fire or other natural disasters.
Insurance coverage that compensates for physical damage to the property caused by fire, wind, or other natural disasters.
A binding contract purchaser enters into with an insurer, to compensate the insured for loss of property, due to hazards, (fire, hail damage, windstorms), for a premium.
Insurance against losses caused by perils which are commonly covered in policies described as a "Homeowner Policy".
Protects against damages caused to property by fire, windstorms, and other common hazards.
A form of property insurance that protects the insured from specified losses, such as fire, windstorm, theft, and the like. The first year annual premium must be paid in full at closing to put the hazard (homeowners) insurance coverage in force when a property is purchased with a mortgage. If escrows are "waived" the customer must still provide evidence of insurance. The same applies to flood insurance if the property is in a flood zone.
A contract that pays for loss on a home from certain hazards, such as fire.
Insurance coverage that compensates for physical damage to a property from fire, wind, vandalism, or other hazards.
Insurance purchased by the borrower, and required by the lender, to protect the property against loss from fire and other hazards. It is the second I in PITI.
The homeowner's insurance policy.
Insurance which protect against damage caused to the property by fire, windstorm or other common hazard. Required by many lenders to be carried in an amount at least equal to the mortgage.
Insurance coverage that compensates the insured for physical damage to the mortgaged property.
Insurance coverage that provides compensation to the insured in case of property loss or damage.
A broad form of casualty insurance coverage for real estate that includes protection against loss from fire, certain natural causes, vandalism and malicious mischief.
Insurance covering physical damage to property.
Otherwise known as homeowners' insurance. This is a usual requirement of a mortgage lender and an advisable safeguard for any homeowner to protect against loss.
Insurance for a specific property that protects the insured for loss caused by natural causes (i.e., fire, disasters and vandalism, depending on the terms of the policy also known as Homeowner's Insurance).
Insurance protection for the borrower and the lender against the property loss due to fire, wind, or natural hazards. Many lenders require payment of the first year's premium as part of the closing costs.
An insurance policy that provides coverage against physical damage to a property from natural disasters such as fire or other hazards. Depending on the location of a property, lenders may also require flood insurance or policies that cover windstorms (hurricanes) or earthquakes.
A policy with coverage that compensates for physical damage to a property from wind, fire, vandalism, or other perils. Coverage should be equal to at least the replacement cost of the property to ensure that the home will be fully rebuilt in case of a total loss. Also referred to as Homeowner's Insurance.
A form of insurance that protects the insured from specified losses due to hazards such as fire, flood, wind damage, etc.
An insurance policy that covers losses due to fires, windstorms, etc. This type of policy is commonly referred to as a homeowner’s policy.
Policies that compensate owners for damage to property from fire, wind and other hazards.
Protection against damage caused by fire, windstorm, or other common hazards. Many lenders require borrowers to carry it in an amount at least equal to the mortgage.
Insurance that covers a mortgaged property against fire, wind or other disasters. Required by lenders prior to closing of the loan.
Insurance required showing lender as loss payee covering certain risks on real and personal property used for securing loans.
Real estate insurance protecting against fire, some natural causes, vandalism, etc., depending upon the policy. Buyer often adds liability insurance and extended coverage for personal property.
Insurance that protects the owner and lender against physical hazards to property such as fire and windstorm damage. Back to the Top
A policy insuring individuals against loss to personal dwellings or the contents. Commonly referred to as Homeowners Insurance.
protects lender and buyer against loss of fire, wind storm, other natural hazards.
Insurance for loss or damage to property caused by fire, tornado, flood or other disaster.
Insurance on a property against fire and similar risk.
It insures against loss from catastrophic events. As each policy is different, it is important to review which events are involved.
Insurance to protect the homeowner and the lender against physical damage to a property from fire, wind, vandalism, or other hazards.
Covered in homeowner's insurance, this insurance coverage compensates for physical damage to a property from fire, wind, vandalism, and other hazards. Most mortgages require proof of hazard insurance.
This provision of homeowners insurance covers damage by fire, wind or other disaster. It is required by all lenders before a loan is approved.
is an insurance policy intended to cover an owner occupied private dwelling and its contents against common disasters such as fire, wind damage and theft. In most cases it also protects the owner against legal claims of anyone who becomes injured on the property. This is also known as a package policy.
A form of insurance in which the insurance company protects the insured from certain losses, such as fire, vandalism, storms and certain other natural causes.
insurance on a property against fire and other natural disasters. Areas prone to flood, hurricanes, or earthquakes may require special policies.
Real estate insurance protecting against loss caused by fire, some natural causes, vandalism, etc.
Insurance that protects homeowners against loss to real estate caused by fire, specified natural causes and other causes of property loss or damage.
Insurance coverage that compensates for physical damage to a property from natural disasters such as fire or other hazards. Depending where a piece of property is located, lenders may also require flood insurance or policies covering windstorms (hurricanes) or earthquakes. Back
Protects owner and lender against damage from fire, wind, vandalism, etc.
A form of insurance that protects the insured from specified losses such as fire, wind and storm. Also known as homeowner's insurance.
Covers losses from events such as fire or wind.
Insures damage to property caused by natural hazards (i.e. fire, wind, earthquake, etc)
Insurance on a property against fire and other risks. A homeowners policy may have additional coverage for theft, liability, etc that a fire insurance policy may not cover.
Protects the insured against loss due to fire or other natural disaster in exchange for a premium paid to the insurer.
Hazard insurance provides coverage for damage from items as fire and wind. Mortgage lenders require coverage for at least the replacement value of the home. (Also known as homeowner's insurance or fire insurance)
A form of insurance in which the insurance company protect the insured form specified losses, for example fire, flood, or windstorm damage.
This is required by the lender to protect a property against fire and other common hazards. A certificate of such insurance is required at closing.
The contract between purchaser and an insurer, to compensate the insured for the loss of property due to hazards (fire, hail damage, etc.), for a premium (fee).
Form of insurance that compensates for physical damage to a property from fires, storms or other hazards.
Also known as Homeowner's Insurance. Protects homeowner against all unexpected perils such as fire, theft, personal liability, and wind.
insurance in which an insurance company insures and financially protects the insured from specified losses, such as fire, storm, hail, etc.; see also hazard insurance premium.
An insurance policy to protect home owners against property damage. Lenders require that you get hazard insurance policy before you buy or refinance a home. Hazard insurance shields you against property damages caused by a fire or a severe storm. If you live in an area that's prone to natural disasters, like earthquakes and floods, you might need a separate policy. If a catastrophe does happen, hazard insurance should cover the costs to rebuild your home. You have to pay for first year of hazard insurance on the closing date. The lender may also require that you deposit up to 2 months of premiums into an escrow account.
Contract between the purchaser (the insured) and an insurer for a premium to compensate the insured for loss of property due to hazard (such as fire or hail damage).
A contract between purchaser and insurer, for which a premium is paid to compensate the insured for loss of property due to hazards (fire, hail damage, etc.).
An insurance policy to reimburse the owner/lender damages to a property by fire, flood, etc.
Insurance that protects against damage caused to property by fire, windstorm or other common hazards.
This is insurance protection against loss to real estate caused by fire, some natural causes, vandalism, etc. This depends on the terms of the policy.
Insurance for a building while it is under construction.
Insurance protecting a property against risks such as fire and natural disasters. This may include additional coverage for theft, liability and other risks.
A contract between purchaser and an insurer, to compensate the insured for loss of property due to hazards (fire, hail damage, etc.), for a premium. CAUTION: Does not cover damage caused by rising water (flood), earthquake, or hurricane. Insurance for these risks must be purchased seperately.
Also known as homeowner's insurance or fire insurance, hazard insurance covers physical risks such as fire and wind damage. Lenders usually require coverage for at least the replacement value of the home.
A form of insurance that covers physical damage to a property from fire, wind, vandalism, or other hazards.
Homeowner's insurance protecting against fire, vandalism, etc.
Insurance to compensate the borrower for specific losses to the insured property, from damage due to windstorm, hail or fire.
Insurance protection for specified losses due to natural causes, such as fire, floods, earthquake, tornadoes, and other "acts of God"
Insurance in which the insurer protects the insured from such specific losses as fire or flood.
A type of insurance that protects the policyholder against property damages caused by fire or a severe storm.
Also called Homeowners Insurance, it is designed to cover damage due to fire, wind, vandalism, theft, etc. back
type of homeowner’s insurance that protects against damages caused to property by fire, wind, or other common hazards.
Fire Insurance-Insurance on the home against fire and other risks. Homeowner's Insurance-additional coverage against theft and liability.
Insurance protecting a property owner against damages caused by fires or severe storms. If the owner lives in an area that is prone to natural disasters, like earthquakes and floods, he or she may need a separate policy.
Homeowner's insurance or fire insurance, hazard insurance covers physical risks such as those from fire or wind. Usually required by lenders for the full replacement value.
A contract between purchaser and an insurer, to compensate the insured for loss of property due to hazards (fire, hail damage, etc.), for a premium. Most common, lender required feature of homeowners insurance
Insurance protection for the buyer and lender against the loss of the property due to fire, wind, vandalism and other hazards.
Insurance on a home that covers damage to a property from hazards like wind, fire, vandals, etc.