Hazard Insurance

Filed Under » ,
Dictionary Says

Definition of 'Hazard Insurance'

Insurance that protects a property owner against damage caused by fires, severe storms, earthquakes or other natural events. As long as the specific event is covered within the policy, the property owner will receive compensation to cover the cost of any damage incurred. Typically, the property owner will be required to pay for a year's worth of premiums at the time of closing, but this will depend on the exact details of the policy.
Investopedia Says

Investopedia explains 'Hazard Insurance'

A typical property or homeowners' insurance policy usually won't cover all events that could do damage to your property. Some events will definitely be excluded from homeowners' insurance in high-risk areas. For example, Florida is prone to hurricanes and is, therefore, considered high risk. If the homeowner lives in a high-risk area, he or she may need a separate policy - such as a flood insurance policy.

Articles Of Interest

  1.

    Insurance Tips For Homeowners

    Use these simple ideas to save money and get better coverage for your house.

  2. How An Insurance Company Determines Your Premiums

    Find out how insurers use credit history to build an insurance score and how it could affect your bottom line.

  3. The History Of Insurance In America

    Insurance was a latecomer to the American landscape, largely due to the country's unknown risks.

  4. Understanding Your Insurance Contract

    Learn how to read one of the most important documents you own.

  5. 10 Hurdles To Closing On A New Home

    It's the biggest purchase of your life - find out what can go wrong before you even close the deal.

  6. How does the 80% rule for home insurance work, and how do capital improvements affect it?

    The 80% rule refers to the fact that most insurance companies will not fully cover the cost of damage to a house due to the occurrence of an insured event (e.g. fire or flood), unless the homeowner ...

  7. Natural Disasters: Issues Relating To Leaves Of Absence

    Small businesses are more likely to fail in the aftermath of devastation. How can you as an employee handle issues after a disaster?

  8. Automatic Cancellation Of PMI When You're Underwater On Your Mortgage

    You might be suprised to learn that after reaching certain criteria, your PMI will be automatically cancelled.

  9. New Year Planning For Business Owners

    Make a resolution to start your business off on the right foot in the new year.

  10. Beware These Disaster-Related Scams

    Con artists prey on the weak. Those who just survived a natural disaster can be easy targets.
comments powered by Disqus
Marketplace
Hot Definitions

  1. Yield Elbow

    The point on the yield curve indicating the year in which the economy's highest interest rates occur. The yield elbow is the peak of the yield curve, signifying where the highest interest rates occurred.

  2. Xenocurrency

    A currency that trades in markets outside of its domestic borders.

  3. Wanton Disregard

    A standard of severe negligence. Wanton disregard is a very serious accusation that indicates that a person behaved extremely recklessly.

  4. Ultra ETF

    A class of exchange-traded funds (ETF) that employs leverage in an effort to achieve double the return of a set benchmark.

  5. Toehold Purchase

    A purchase of less than 5% of a target company's outstanding stockmade by an acquiring company. A toehold purchase of just under 5%, while not a significant stake in a firm, allows the shareholders a "toe-holds" grip on the company and its decision making.

  6. Samurai Bond

    A yen-denominated bond issued in Tokyo by a non-Japanese company and subject to Japanese regulations.
Trading Center
http://sp.fastclick.net/ad/tr/10858-64082-15546-0?mpt=4d323788ddb2ac89a14073915b90a193