Which type of insurance protects against fire, burglary, and other specified losses?

The correct answer highlights the concept of hazard insurance, which specifically deals with protecting against risks associated with physical damage to a property. This type of insurance covers perils such as fire, burglary, and other losses that can physically impact a dwelling or its contents. The key feature of hazard insurance is that it is often a requirement for obtaining a property mortgage, as lenders want to ensure that their investment is protected from significant losses that could render the property less valuable or even uninhabitable.

While property insurance is a broader term encompassing various types of insurance that cover property loss or damage, it includes hazard insurance as a component. Therefore, hazard insurance is a more precise answer for the context of protecting against specific risks like fire and burglary. In contrast, liability insurance primarily protects against claims of injury or damage to others caused by the policyholder, and mortgage insurance is related to protecting the lender in case the borrower defaults on the loan, rather than focusing on physical property loss. This distinction is important when identifying the insurance type that specifically addresses the risks cited in the question.