Homeowner hazard insurance (or Hazard Insurance) is a term commonly used by mortgage professionals and attorneys during a real estate transaction in reference to homeowner insurance. Hazard insurance is antiquated terminology and not commonly used within the insurance industry.
Hazard insurance is NOT a separate insurance policy that home buyers are required to purchase in addition to a homeowner insurance. So don’t fret first time home buyers, hazard insurance is not as scary as it sounds.
Watch this video “What is homeowner hazard insurance?” for more details:
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This is video #1 of a one hundred video series that The Murray Group is producing to provide insurance consumers with quick, valuable answers to their everyday insurance questions.
If you have additional questions regarding hazard insurance or if you would like a quote on your homeowners insurance use the link below:
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Disclaimer: This article is for informational purposely only. There is no legal advice being suggested or proffered and the author assumes no responsibility or liability for the actions taken or not taken by the readers based upon such information.
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