What is hazard insurance? Is it just like homeowners insurance? Should I avail both?
Total Comments: 3
Posted: Wed Sep 04, 2013 02:07 pm Post Subject:
There is no such thing as HAZARD INSURANCE. Hazards, by definition, are things that increase the likelihood or severity of a loss due to a COVERED PERIL. Hazards do not cause losses, losses are caused by perils, therefore the hazards are not insurable,
Common perils in homeowners insurance include, fire, windstorm, hail, vandalism & malicious mischief, theft, etc.
Posted: Fri Sep 27, 2013 11:54 am Post Subject:
Yes hazard insurance is synonymous to homeowner insurance. This type of Insurance simply means protection against peril mainly due to fire, windstorm, vandalism & theft . Home is your lifetime asset and being a homeowner its your first and foremost responsibility to protect your home from any kind of unforeseen situation with a perfect homeowner insurance policy and you don't need to opt hazard insurance as these two terms are similar.
Posted: Fri Sep 27, 2013 05:27 pm Post Subject:
Yes hazard insurance is synonymous to homeowner insurance. This type of Insurance simply means protection against peril mainly due to fire, windstorm, vandalism & theft
If there were such a thing as "hazard insurance" it would not cover "perils". If you knew anything about insurance you would know that perils cause losses and hazards increase the likelihood or severity of a loss, but do no cause losses. So far, every one of your posts has been full of misinformation. Again, I ask, where exactly are you a licensed insurance agent?
Posted: Wed Sep 04, 2013 02:07 pm Post Subject:
There is no such thing as HAZARD INSURANCE. Hazards, by definition, are things that increase the likelihood or severity of a loss due to a COVERED PERIL. Hazards do not cause losses, losses are caused by perils, therefore the hazards are not insurable,
Common perils in homeowners insurance include, fire, windstorm, hail, vandalism & malicious mischief, theft, etc.
Posted: Fri Sep 27, 2013 11:54 am Post Subject:
Yes hazard insurance is synonymous to homeowner insurance. This type of Insurance simply means protection against peril mainly due to fire, windstorm, vandalism & theft . Home is your lifetime asset and being a homeowner its your first and foremost responsibility to protect your home from any kind of unforeseen situation with a perfect homeowner insurance policy and you don't need to opt hazard insurance as these two terms are similar.
Posted: Fri Sep 27, 2013 05:27 pm Post Subject:
Yes hazard insurance is synonymous to homeowner insurance. This type of Insurance simply means protection against peril mainly due to fire, windstorm, vandalism & theft
If there were such a thing as "hazard insurance" it would not cover "perils". If you knew anything about insurance you would know that perils cause losses and hazards increase the likelihood or severity of a loss, but do no cause losses. So far, every one of your posts has been full of misinformation. Again, I ask, where exactly are you a licensed insurance agent?Add your comment