What type of insurance is not regulated for coverage amount according to Utah law?

Hazard insurance, often associated with homeowners and property coverage, is not strictly regulated by the state for the amount of coverage that can be provided. This means that policyholders have more flexibility in choosing their coverage limits, allowing them to tailor their policies according to their specific needs and the value of their property rather than adhering to mandated minimum or maximum levels set by law.

In contrast, other types of insurance, such as auto, life, and health insurance, typically have regulations that dictate certain coverage limits to ensure minimum consumer protection. These regulations can include mandated coverage levels to provide adequate protection to policyholders and ensure that they do not under-insure, thereby protecting the overall stability of the insurance market. This regulatory framework is beneficial for consumers in these categories, but the absence of such strict regulation on hazard insurance allows for greater customization based on individual circumstances.