Definitions

1. Hazard insurance is a term used by most mortgage lenders and is no different than homeowners insurance. (Web site)
2. Hazard insurance is insurance coverage that compensates for physical damage to a property from fire, wind, vandalism, or other hazards.
3. Hazard insurance is designed to protect the homeowner from loss due to specified hazards such as fire or flooding. (Web site)
4. If hazard insurance is unknown, enter the estimated percentage or use the default percentage entered.
5. Now, your hazard insurance is for the value of the property to replace it if it is destroyed by some sort of disaster.

Repair

1. Superior Home Services - US-wide - hazard insurance recovery and repair of damaged properties in the foreclosure and conveyance process. (Web site)

Details

1. The same details that apply to hazard insurance also apply for your flood insurance policy. (Web site)

Percentage

1. If homeowner's insurance is known, divde the yearly hazard insurance by the purchase price and multiply by 100 to get the percentage.

Required

1. Hazard insurance policies with proper endorsements and assignments attached (when existing policies are to be assigned) as required by the lender.

Risks

1. Hazard Insurance (Fire Insurance, Homeowner's insurance) Insurance on a property against fire and other risks. (Web site)

Prepaid Interest

1. Examples of Recurring Closing Cost would include; prepaid interest, property taxes and hazard insurance.

Home

1. After you found the home of your dreams you will now need to get approved for a mortgage and find hazard insurance. (Web site)

Paying

1. The money is used for paying your hazard insurance, mortgage insurance, and property taxes when they come due. (Web site)

Seller

1. Taxes and Hazard Insurance Based on the month you close, property taxes will be prorated between you and the seller. (Web site)

Losses

1. Hazard insurance, or fire insurance as it is frequently called, covers losses caused by acts of nature or accidents.

Floods

1. In addition to requiring hazard insurance to cover events like a fire, they want to know if floods are of concern in your area.

Settlement

1. Your lender will require that you have a homeowner’s insurance policy (sometimes called hazard insurance) in effect at settlement. (Web site)
2. Your lender will require that you have a homeowner�s insurance policy (sometimes called hazard insurance) in effect at settlement. (Web site)

Payments

1. An account usually established by the lender to make payments for hazard insurance and property taxes.

Closing

1. Purchasers are required to bring a policy for fire and hazard insurance to the closing and, if applicable, a flood insurance policy. (Web site)

Items

1. Taxes & Insurance: Monthly payments are normally made into a special escrow account for items like hazard insurance and property taxes. (Web site)

Etc

1. Hazard Insurance - This is insurance protection against loss to real estate caused by fire, some natural causes, vandalism, etc.

Lenders

1. Often used by lenders to save for property taxes, hazard insurance, homeowner's dues, etc.
2. The bad news is that this is because lenders usually requires you to pay your hazard insurance at closing. (Web site)

Protection

1. Hazard Insurance (Fire Insurance, Homeowners insurance) A type of real estate insurance providing protection against loss due to fire and other risks.
2. Homeowners Insurance is Hazard Insurance with the added protection of personal liability insurance.

Payment

1. If the payment includes only principal and interest, property taxes and hazard insurance would make the total payment higher.
2. Money is then disbursed and details are attended to, such as payment of outstanding liens and transfer of hazard insurance policies. (Web site)

Mortgagee

1. Mortgagee Clause A clause within a hazard insurance policy naming the mortgagee as a beneficiary of the policy. (Web site)

Contents

1. The policy typically combines personal liability insurance and property hazard insurance coverage for a dwelling and its contents. (Web site)
2. An insurance policy that combines personal liability insurance and hazard insurance coverage for a dwelling and its contents. (Web site)

Funds

1. A: Escrows are funds collected with the borrower's monthly payment and are used to pay for fees like property taxes and hazard insurance as they come up.
2. A third party account used to retain funds including the property owner’s real estate taxes, buyer’s earnest money or hazard insurance premiums.

Expenses

1. Other expenses (not necessarily on your closing sheet): home and pest inspections, homeowner's and hazard insurance.

Mortgage Payment

1. Housing expense The sum of mortgage payment, hazard insurance, property taxes, and homeowner association fees.
2. An impound account allows your property taxes and hazard insurance to be collected at the same time as your mortgage payment.
3. This expense includes your mortgage payment, your property taxes, your mortgage insurance and your hazard insurance.

Mortgage

1. Look these other carefully, checking the calculations and comparing the figures with the amounts you were quoted for interest, mortgage and hazard insurance. (Web site)
2. These include interest rate, length of the loan, lender fees, annual percentage rate, mortgage and hazard insurance and other special requirements. (Web site)
3. Until you pay off your mortgage in full the lender will require you to carry hazard insurance. (Web site)

Borrower

1. Mortgage lenders often require the borrower to carry an amount of hazard insurance on the property that is at least equal to the amount of the loan amount.
2. A borrower typically provides funds that will pay taxes, mortgage insurance, lease payments, hazard insurance premiums, and other payments when they are due. (Web site)

Private Mortgage Insurance

1. A portion of the monthly mortgage payment that is placed in an account and used to pay for hazard insurance, property taxes and private mortgage insurance. (Web site)
2. These items can include up to two months worth of private mortgage insurance, homeowner's insurance, hazard insurance, property tax payments, etc.

Damage

1. Hazard Insurance: Insurance that pays to repair a property in the case of damage from fire, ice, floods, storms, acts of vandalism, and more. (Web site)
2. Hazard insurance This provision of homeowners insurance covers damage by fire, wind or other disaster. (Web site)

Flood Insurance

1. Mortgagee Clause: This is the clause that is typically used for hazard insurance and flood insurance.
2. Flood Insurance - A form of hazard insurance required by lenders to cover properties in flood zones.

Title Insurance

1. These include title search, title insurance, related legal fees, notary charges, hazard insurance, and fees for conducting the settlement.
2. Note that hazard insurance, title insurance and PMI represent examples of the principle of relying on another person's insurance. (Web site)
3. Other elements of the escrow include hazard insurance, title insurance and the grant deed from the seller to you.

Mortgage Life Insurance

1. Don't confuse hazard insurance with title insurance, personal mortgage insurance (PMI), or mortgage life insurance.

Prepaids

1. Prepaids typically include real estate taxes and hazard insurance. (Web site)

Special Assessments

1. Prepaids can include taxes, hazard insurance, private mortgage insurance, and special assessments.
2. Under government-insured or loan-guarantee provisions, the payments may include escrow amounts covering taxes, hazard insurance and special assessments.

Mortgage Insurance

1. These costs may include hazard insurance, interest, property taxes, mortgage insurance (PMI), and association fees. (Web site)
2. It will show costs associated with the loan settlement, such as origination fees, mortgage insurance, title insurance, escrow reserves and hazard insurance.
3. The portion of a borrower's monthly payments held by the lender to pay taxes, hazard insurance and mortgage insurance.

Escrow Funds

1. When escrow funds are used to pay taxes, hazard insurance, and other fees, it is called an escrow disbursement. (Web site)

Wind Damage

1. Homeowner's or hazard insurance protects against loss from fire, theft or wind damage.

Common Hazards

1. Hazard Insurance - Insurance that protects against common hazards such as fire or winds. (Web site)
2. Hazard Insurance – Protection against damage cause by fire, wind or other common hazards.

Insurance Policy

1. Homeowner's Insurance An insurance policy that combines liability coverage and hazard insurance. (Web site)
2. Homeowner's insurance - An insurance policy that combines personal liability insurance and hazard insurance for a home and its contents.
3. Homeowner’s Insurance An insurance policy that combines personal liability insurance and hazard insurance for a home and its contents. (Web site)

Cover

1. Impound Account: Funds retained by a lender to cover such items as taxes and hazard insurance premiums. (Web site)
2. Flood Insurance - A form of hazard insurance required by the federal government to cover property damage or loss in flood zones.

Perils

1. Fire and hazard insurance provides protection for fire and other perils to your home and its contents. (Web site)
2. Hazard Insurance: Insurance against losses caused by perils which are commonly covered in policies described as a "Homeowner Policy".

Natural Disasters

1. Hazard Insurance: - insurance coverage that compensates for physical damage by fire, wind or other natural disasters to the property.

Insurer

1. Loss Draft – A bank draft from an insurer in settlement of a loss covered by hazard insurance.

Insured

1. Hazard Insurance A form of insurance in which the insurance company protects the insured from specified losses, such as fire windstorm and the like. (Web site)
2. Top H hazard insurance A form of insurance that protects the insured property against physical damage such as fire and tornadoes. (Web site)

Policy

1. Private lenders are named on the hazard insurance policy as the mortgagee which our company pays for.  This further protects you and your investment.
2. Each hazard insurance policy is endorsed to name the lender as a loss payee.
3. The lender will require that a policy of homeowner's or hazard insurance be in place at the time of closing on the property.

Premium

1. Hazard Insurance - A policy that protects the insured against loss due to fire or certain natural disasters in exchange for a premium paid to the insurer.
2. Hazard Insurance Protects the insured against loss due to fire or other natural disaster in exchange for a premium paid to the insurer.
3. Hazard Insurance: A contract whereby an insurer, for a premium, undertakes to compensate the insured for loss on a specific property due to certain hazards. (Web site)

Mortgage Insurance Premium

1. Examples include pre-paid interest on your loan, mortgage insurance premium, or a hazard insurance premium. (Web site)
2. Advance payments or prepaid fees: Interest, mortgage insurance premium, and hazard insurance premium. (Web site)

Categories

1. Insurance Policy
2. Mortgage Insurance
3. Nature > Life > Death > Hazards
4. Insurance Coverage
5. Flood Insurance

Related Keywords

* Escrow Account * Estate Taxes * Fire * Hazards * Insurance * Lender * Taxes * Vandalism

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