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Hazard insurance is another word for homeowners insurance. The hazards covered by your insurance policy are also referred to as perils. When you have a mortgage on your home, your lender will require that you carry a homeowners insurance policy that is sufficient to cover the amount of money you still owe on your home.

The AM Best Underwriting Guides are very helpful to new commercial producers or experienced ones who want to learn about a new class of business. Each guide provides the appropriate lines of coverage for the desired class with Best's Hazard Index; SIC codes and Classifications; Related Classifications; Risk Descriptions; Materials & Equipment; a Narrative on the Lines of Liability; and an Underwriter's Checklist.