Your Hazard Insurance, or homeowner’s insurance, is an insurance policy that combines various personal insurance protections which can include losses occurring to one’s home, its contents, loss of other personal possessions of the homeowner, as well as liability insurance for accidents that happen at the home.
The cost of the annual premium for homeowner’s insurance fluctuates based on several factors including appraised value, age of the building, construction methods, square footage and known natural hazards in the area. The premium amount may also depend on any additional endorsements that the homeowner chooses to add onto their insurance policy, such as premium coverages for valuable items.