Construction Terminology

Construction Terms

Hazard Insurance
A type of insurance designed to cover damage caused by a peril specified in the policy of insurance (i.e. fire, flood,
etc.).

Home Owners Ins.
Liability coverage for property owners covering both loss/damage to property or dwelling and personal liability.

Hazard Insurance
A type of insurance designed to cover damage caused by a peril specified in the policy of insurance (i.e. fire, flood,
etc.).

Home Owners Ins.
Liability coverage for property owners covering both loss/damage to property or dwelling and personal liability.

HOW Program
A type of insurance that covers repairs to specified parts of a house for a specific period of time. It is provided by the
builder or property seller as a condition of the sale.

Hud
Department of Housing and Urban Development; regulates Fannie Mae and Ginny Mae. I
Category Construction Glossary
H