Mar 07 , 2016

Tampa School of Real Estate

Insurance Clause

Definition:   A stipulation in a mortgage that requires the mortgagor to obtain and keep current a hazard insurance policy.

Pronunciation:   \in-ˈshu̇r-ən(t)s\ \ˈklȯz\

Used in a Sentence:    Our mortgage contract has an insurance clause requiring us to have hazard insurance on our house.