Is Hazard Insurance The Same Thing As Homeowners Insurance?

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   Tom Sheehan

   Agency Owner, The Thomas G Sheehan Agency, 27 Glen Road Sandy Hook, CT 06482

   For the most part yes, it is.  Many banks and mortgage companies choose to use the term "Hazard Insurance" interchangeably with "Homeowners Insurance".   The prior term is really an older one in that  older policies were issued in such a way that they specifically listed the hazards for which one had coverage.  You would see things like Fire, Lightening, wind and hail, etc.  Today, it is more likely that a Homeowners policy will provide broad coverage and will list policy exclusions, namely things for which you would have no coverage under the policy, earth movement and flood for example.

   Answered on May 23, 2014

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