Is hazard the same as home insurance?

No, hazard insurance is not the same thing as homeowners insurance, but it is part of your homeowners insurance policy. To put it simply, hazard insurance is not a separate policy you need to purchase; it is a component of your homeowners insurance policy.

Is hazard insurance required in Colorado?

Unlike car insurance, homeowners insurance isn't required by law in Colorado. However, mortgage lenders will likely require home insurance coverage before you can get a loan. At The Hartford

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, we offer a wide range of insurance coverages so you can find the Colorado homeowners policy that works for you and your home.

Which type of insurance is mandatory in Colorado?

Automobile owners in Colorado are required to carry liability insurance. Liability insurance covers bodily injury to another person or property damage to another's vehicle or property when the insured is at fault for an accident.

Why is hazard insurance required?

Hazard insurance protects your home from natural disasters or hazards. It's usually a requirement when qualifying for a mortgage. Some regions also require the purchase of a Natural Hazard Report, also known as an NHD report, which shows if your property rests in a natural hazard zone or high-risk area.

What is the minimum insurance requirement in Colorado?

The following minimum coverages are required by the state, although higher coverages may be purchased: $25,000 for bodily injury or death to any one person in an accident; $50,000 for bodily injury or death to all persons in any one accident; and. $15,000 for property damage in any one accident.

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