Hazard insurance

Definition

Insurance purchased by the borrower, and required by the lender, to protect the property against loss from fire and other hazards.

Also known as "homeowner insurance", it is the second "I" in PITI.

See Questions About Home Owners Insurance.

Related Terms

Other terms related to 'Hazard insurance' starting with the letter 'H'

Housing bubble, Housing expense, Home equity line of credit HELOC, HUD1 form, Homeowners insurance

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