Hazard Insurance definition

Hazard Insurance. A fire and casualty extended coverage insurance policy insuring against loss or damage from fire and other perils covered within the scope of standard extended hazard coverage naming the Servicer, its successors and assigns, as a mortgagee under a standard mortgagee clause, together with all riders and endorsements thereto.

Hazard Insurance is defined in Section 19.

Hazard Insurance is defined in Section 6.10(a).

Examples of Hazard Insurance in a sentence

• CURRENT_FICO The current FICO score HAZARD_CLAIM_FILED_DATE The date the Hazard Claim was filed with the Hazard Insurance Company.

• Each Hazard Insurance Policy caused to be maintained by the Servicer shall contain a standard loss payee clause in favor of the Servicer and its successors and assigns.

• If any Mortgaged Property is exposed to hazards not fully covered by Hazard Insurance or Flood Insurance, the Servicer must notify the Master Servicer immediately with a recommendation for additional coverage.

• Unless alternative coverage is provided pursuant to Section 16.3 hereunder, the Servicer must ensure that each Mortgaged Property is covered at all times by Hazard Insurance.

• Except as a greater amount may be required by an applicable law, each Hazard Insurance deductible for a blanket policy covering a Condominium Project or PUD may not exceed the lesser of (a) $10,000 or (b) one percent of the applicable amount of coverage.

More Definitions of Hazard Insurance

Hazard Insurance means insurance on the property securing a mortgage loan that protects the property against loss caused by fire, wind, flood, earthquake, theft, falling objects, freezing, and other similar hazards for which the owner or assignee of such loan requires insurance.

Hazard Insurance means all policies of property insurance insuring against loss or damage to any Mortgaged Premises by fire and other perils, including without limitation all endorsements and riders thereto, and including so-called fire and extended coverage insurance policies, homeowner’s insurance policies and flood insurance policies.

Hazard Insurance means casualty, fire, hazard, flood, wind, liability or similar insurance policies relating to a Property.

Hazard Insurance means insurance against the risks of any type of hazard (e.g., fire, windstorm, etc.) except for floods.

Hazard Insurance means a contract, usually termed a “policy”, between an insurance company and one or more persons or “policy holders”, whereby the insurance company, for a monetary consideration customarily called a “premium”, agrees to indemnify a policy holder or policy holders, or others designated in said policy, for loss or damage to property by fife, storm, and other specified hazards;

Hazard Insurance means casualty, fire, hazard, flood, wind, liability or similar insurance policies relating to a Mortgaged Property.

Hazard Insurance means insurance coverage against loss for the real and personal property used as collateral for the Loan. The policy(s) must name Watertown Savings Bank, its successors or assigns as mortgagee and loss payee.