You insure the home and your possessions (contents), not the land, so the insured value – the cost to replace your home and contents is less than the market value.
Let your agent know if you have made significant improvements in your home, for example over $5,000, so your home’s replacement value will be up-to-date.
Liability coverage in a Maryland Homeowners insurance policy helps protect you financially from theft and damage to your home and possessions, as well as to guests in your home if they get hurt (for example from a pet or a fall)
If you have a child going away to school and living in a dorm or in an off-campus apartment, check your homeowner’s policy to see if their possessions will be covered. If they will not be covered, you may want to purchase coverage for these items (for example: renter’s insurance for an off-campus apartment).
Have Jewelry, Heirlooms, Valuable Collections? Consider purchasing a rider or floater to your homeowners policy to provide coverage for these items. A separate policy may be needed depending upon the item and value.