Compare Mortgage Quotes

arya310706 · Joined: 29 Jul 2009 Posts: 48 0.09 Dollars($)

what is Hazard Insurance?

gmakerley · Posted: Wed Jul 29, 2009 11:24 am Post subject:

very simply, it is the insurance that a buyer/borrower will purchase on a home to cover the home against fire, theft, etc. it is a requirement of all lenders that a borrower purchase hazard insurance (it also goes by homeowner's insurance).

litisham · Joined: 23 Jun 2009 Posts: 116 -0.62 Dollars($)

[System detected duplicate content; converted into image. Thanks.]

gmakerley · Posted: Thu Aug 13, 2009 8:23 am Post subject:

lenders require full replacement cost coverage, so covering the cost of the mortgage (the loan amount) is not sufficient.

each lender has its own way of delineating what is needed, and each borrower will be advised of that during the initial phase of applying for a mortgage loan.

kas_mah80 · Joined: 06 Sep 2009 Posts: 31 -0.11 Dollars($)

hi
Hazard insurance, also called homeowner's or property insurence provide u coverage for specific natural hazards, such as fire, wind,,and earthquake,,,any homeowners purchase a 'comprehensive' form of insurance first, which may cover almost all possible damages, but then seek additional hazard insurance for specific dangers. Those who live in flood plains may buy hazard insurance for water damage, for example califonia may add earth quake insurence and hazard insurence.....
it pays to ask insurence administrator about coverage before agreeing to the contract. Some comprehensive policies already provide coverage for certain hazards, so additional hazard insurance may not be strictly necessary. Others may not fully cover hazards specific to the area, such as damage caused by a breeched dam or vandalism during construction. Truly comprehensive home insurance should cover the liability and physical damages. Hazard insurance is usually geared towards physical damaged property rather than than owner liability for accidents on the premises.
During the closing of a property sale, the buyer is almost always required to obtain some form of hazard insurance. The terminology for this coverage may change from 'hazard insurance' to 'property insurance' to 'comprehensive homeowner's insurance', but it all means the same thing to the closing attorney and lenders buyer During the closing of a property sale, the buyer is almost always required to obtain some form of hazard insurance. The terminology for this coverage may change from 'hazard insurance' to 'property insurance' to 'comprehensive homeowner's insurance', but it all means the same thing to the closing attorney cost of the mortgage..........his will provide enough protection to restore the property if it burns to the ground the day after the sale is complete......
thats also provide u.............

lovegreg77 · Joined: 03 Sep 2009 Posts: 34 0.00 Dollars($)

For property, major hajards are fire, wind, storms.

Hazard insurance provides you insurance cover against demage caused due to above mentioned reason

pettybob1 · Joined: 07 Sep 2009 Posts: 37 0.24 Dollars($)

its an 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.

gmakerley · Posted: Mon Sep 14, 2009 6:44 am Post subject:

this has really become tedious.

Company	Loan Type	APR	Est. Pmt.
				Go
				Go
				Go
				Go
				Go
				Go

Property State:
Property Type:
Credit Rating:

All times are GMT - 7 Hours

Page 1 of 1

Compare Mortgage Quotes

what is Hazard Insurance ?