Definition
Property insurance covering physical damage from perils such as fire, wind, and hail.
Example
The lender required proof of hazard insurance with itself named as mortgagee before funding.
Related terms
Frequently asked questions
What does Hazard Insurance mean in real estate?
Property insurance covering physical damage from perils such as fire, wind, and hail.
How is Hazard Insurance used in practice?
The lender required proof of hazard insurance with itself named as mortgagee before funding.
This definition is provided for educational purposes. Legal and tax terminology can carry jurisdiction-specific meaning — confirm with a licensed professional before relying on it in a transaction.