Hazard Insurance

Insurance that covers property damage caused by fire, wind, storms, earthquakes, and other natural hazards. Types of natural hazards that are covered on a standard plan usually depend on geographic location. For example, people who live in flood plains are more likely to be covered for water damage, and people who live on the west coast who are more likely to be covered for earthquake damage. A borrower is required to purchase Hazard Insurance (also known as "homeowner insurance") by the lender. < Prev   Next >