Hazard Insurance

Hazard insurance is a type of insurance that protects homeowners against risks like fire, storms, or vandalism that can damage their property. It typically covers physical damage to the home and, in some cases, personal belongings. While it doesn’t cover flooding or earthquakes unless specifically included, hazard insurance is often required by mortgage lenders to safeguard their investment. Essentially, it provides financial security, helping homeowners recover repair costs resulting from unforeseen hazards, ensuring peace of mind and stability for property owners.