Is Hazard Insurance The Same Thing As Homeowners Insurance? 
For the most part yes , it is . Many banks and mortgage companies choose to use the term `` Hazard Insurance '' interchangeably with `` Homeowners Insurance '' . The prior term is really an older one in that older policies were issued in such a way that they specifically listed the hazards for which one had coverage . You would see things like Fire , Lightening , wind and hail , etc. . Today , it is more likely that a Homeowners policy will provide broad coverage and will list policy exclusions , namely things for which you would have no coverage under the policy , earth movement and flood for example . 