Definition - What does Hazard Insurance mean?
Hazard insurance is a type of insurance that insures properties such as houses and offices against damages or destruction that are unexpected—these may include hazardous events like floods, earthquakes, storms, fire, etc.
Justipedia explains Hazard Insurance
The damages covered by hazard insurance are of a physical nature. These damages are usually the result of natural disasters that can’t be accounted for in advance. Hazard insurance is also known as "homeowner’s insurance" or simply "home insurance".