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2824 Manatee Avenue East

Bradenton, Florida 3420

Office: 941.792.2111

Toll Free: 1.800.522.7869

Fax: 941.747.9632



Hazard Insurance

Hazard insurance, also called homeowner's or property insurance, provides coverage for specific natural hazards, such as fire, wind, and vandalism. Many homeowners purchase a 'comprehensive' form of insurance first, which may cover almost all possible damages, but then seek additional hazard insurance for specific dangers. Those who live in flood plains may buy hazard insurance for water damage.

Since there may be a definable difference between 'homeowner's insurance' and 'hazard insurance', it pays to ask the insurance broker about coverage before agreeing to the contract. Some comprehensive policies already provide coverage for certain hazards, so additional hazard insurance may not be strictly necessary. Others may not fully cover hazards specific to the area, such as damage caused by a breeched dam or vandalism during construction. Truly comprehensive home insurance should cover both liability and physical damages. Hazard insurance is usually geared towards physical property damage, rather than owner liability for accidents on the premises.

During the closing of a property sale, the buyer is almost always required to obtain some form of hazard insurance. The terminology for this coverage may change from 'hazard insurance' to 'property insurance' to 'comprehensive homeowner's insurance', but it all means the same thing to the closing attorneys and lenders. Buyers are strongly encouraged to buy at least enough comprehensive hazard insurance to cover the cost of the mortgage. This will provide enough protection to restore the property if it burns to the ground the day after the sale is complete.

Premiums for hazard insurance are generally calculated on the appraised value of the property, the age of the building, construction methods and known natural hazards in the area. Insurance agencies may offer additional hazard insurance policies such as flood, earthquake and hurricane coverage, but homeowners may have to weigh the benefits against the higher premiums. Some hazard insurance policies may sound frivolous, but the damage caused by a rare earthquake in North Carolina, for example, could be substantial. Hurricane hazard insurance in Florida may sound automatic, but some homeowners may save money on premiums by not adding it to a comprehensive policy, as the damage may be covered without the need for an additional policy.


My wife and I would like to take this opportunity to recognize Linda Johnston who is with the office at CENTURY 21 All Aces Realty. We had been trying to sell our house in Palmetto for approximately 2 years. Prior to being introduced to Linda, we had used two other real estate agents who were quite ineffective in getting people to look at the house. As soon as we spoke to Linda, we were impresses with her enthusiasm and determination. She immediately gave us ideas on how to list the house to attract prospective buyers. When one idea didn't work, she was innovative and determined to come up with new ideas. Her personality was refreshing and she was always professional. We felt as though we were her only client, although we knew she had others. It was a pleasure working with her and we would recommend her to any seller or buyer. Craig & Felicia Himes
My experience with CENTURY 21 All Aces Realty was remarkable, but my experience with my Agent, Matthew Rotondo was even better. Matt’s willingness to work with my wife and I was truly amazing. Matt took a true interest in our needs and wants as a young couple. Knowing we did not have the money to buy a home that needed lots of work, Matt made sure to find us a home that was move in ready. When it came time to close on our dream home, the house needed a new roof. Matt came through again, he was able to get us our dream home at price we could afford with a new roof. Matt is just a genuine good guy, I don’t know many agents that would actually come over and help you move and work in the yard. Thanks again Matt for helping my family get the house of their dreams. Richard and Lisa Glass
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