What is hazard insurance premium for some areas?


Sometimes the hazard insurance premium does not coincide with the comprehensive homeowners insurance policy. Sometimes specific events that are likely to occur within the area - such as natural disasters like earthquakes, storms or flood, are omitted from the insurance.

In that case, the comprehensive insurance coverage will be referred to as homeowners insurance, and the additional hazard coverage for the any of the abovementioned events will have to be included in a separate hazard insurance premium.

There are many insurance agencies that offer separate flood or earthquake policies. The cost of the additional hazard policy will depend on the estimated probability of the specific events and the value of the real estate.

Mortgage rates hit their lowest since 1955. Ask the home loan experts we recommend Quicken Loans how to take advantage of them.
Was this Mortgage QnA helpful?
Not at all
  • Currently 2.9/5 Stars
  • 1
  • 2
  • 3
  • 4
  • 5
Add to this Answer

Mortgage QnA is not a common forum. We have special rules:

  • Post no questions here. To ask a question, click the Ask a Question link
  • We will not publish answers that include any form of advertising
  • Add your answer only if it will contrubute to the quality of this Mortgage QnA and help future readers
If you have trouble reading the code, click on the code itself to generate a new random code. Verification Code Above:
Bookmark and share this QnA: