Understanding Hazard Insurance

Hazard insurance and homeowners insurance are may seem confusingly similar. Notwithstanding its name, hazard insurance is not an entirely different policy, it is an integral part of the policy of a standard homeowners’. This is the part that will take care to rebuild a home's foundation and contents should there be a natural disaster.

Miami, FL -- (SBWIRE) -- 09/23/2020 -- The rest of the homeowners' insurance will protect you from injury, loss, or thieves. Homeowner insurance also addresses medical bills if a person happens to be injured and/or suffers an accident in your home, along with legal expenses if they want to seek legal action as a result of the accident sustained.

Each insurer has its list of "approved" natural disasters. Those happen to usually be weather events such as tornadoes and floods, for example. If a natural disaster damages the home or personal belongings, a claim is submitted and filed and the homeowner seeks reimbursement for the repairs. These repair costs would likely be up to the homeowner without the hazard coverage of the homeowners' policy if, for example, a freak windstorm or fire has caused catastrophic damage to the home. The homeowners would also need to take care of the repair of the appliances, plumbing, flooring, and roof.

This information is provided for educational or informational purposes only and should not be construed as legal advice. The information is not provided in the course of an attorney-client relationship and is not intended to substitute for legal advice.

About Alonso Perez LLP
Consisting of attorney Rafael Alonso, the law firm dedicates itself to representing businesses and individuals across South Florida in insurance disputes. The firm is passionate about serving its clients as a primary resource and partner in all aspects of their business growth and financial development. For more information call 305.443.6321 to speak with a Miami insurance attorney or to request a free consultation.

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