Hazard insurance protects homeowners against some disasters.
Hazard insurance is not synonymous with homeowners insurance, because it only covers physical damage. Homeowners insurance typically includes liability protection and hazard insurance. Hazard insurance may protect only against specifically named damages, or it can cover all forms of damage except those specifically excluded.
You may need more coverage than the minimum hazard insurance required by your lender. In areas subject to particular dangers--earthquakes and wildfires in parts of California, for instance--hazard polices may not insure against them unless you pay extra for a "rider" on your coverage. You may also want extra insurance for art, jewelry, collectibles or business equipment that isn't covered by a
regular hazard policy, says the Nolo legal website.
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