As a homeowner in Maryland, you have a lot to worry about, including your yard, property and structural upkeep, taxes, ensuring that your family is safe and improving your neighborhood. Homeowners insurance can go a long way toward preserving all of those things that make your life here in Maryland special.
Or course, home insurance can't prevent negative events like fires or theft from occurring, but it will help you get back on your feet more quickly afterwards.
There are many different types of homeowners insurance in Maryland, and just as many reasons to acquire home insurance. Whether you live in an apartment, a condominium, a home or a mansion, your dwelling is probably the single largest investment or asset that you have in your portfolio. Finding the right protection for your home is vital to protecting your way of life.
Maryland Home Insurance Packages
There are generally four distinct areas of coverage that you need to consider when looking for homeowners insurance: Liability Coverage, Property Damage Coverage, Medical Payments Coverage and Additional Living Expenses coverage.
- Liability Coverage for homeowners includes coverage for if you or a member of your family is found legally responsible for injury of another person or property damage. In some policies, this coverage even extends beyond the borders of your property. Your insurance company will cover the damages up to the policy limit and support you in the event of a lawsuit. Certain limitations may apply depending on what type of dwelling you reside in, and whether or not you hold any other insurance plans, including auto or personal liability.
- Property Damage coverage is fairly self-explanatory, but there are a surprising number of plans for such a straightforward area of coverage. That's because there is a big, scary list full of things that can happen to your home, ranging from fire and flooding to hail damage or vandalism. There are two different options for property damage coverage: Named Peril Policies and Open Peril Policies.
- Named Peril Policies only protect homeowners against specific risks. If a flood occurs, but your policy has no specific language covering flood damage, you won’t be covered.
- Open Peril Policies, also known as all-risk policies, provide coverage for every type of risk, except ones that are specifically rejected by the policy. Open Peril Policies are the safer pick, but they often come with a higher price tag.
- Medical Payments Policies do not protect you or your family members. They cover visitors who happen to sustain injuries on your property. This helps protect you from becoming personally liable for the medical expenses of your visitors. Regardless of fault, your insurance company will assist in paying medical bills up to the limit of the policy.
- Additional Living Expenses Insurance covers a portion of your family's living expenses if you are forced to relocate to a temporary dwelling after damage to your home. Any expenses above and beyond your normal expenses will be covered under this portion of your plan.
These four areas of coverage are typical in most homeowners insurance policies in Maryland. They work well together to create a protective insurance shield around you and your family.
Call or text us from your mobile phone now and let us help you find the right homeowners insurance for you.
Protect Your Assets!
Special Situations Need Different Types of Insurance
- Maryland Condo Insurance
- Safeguard against loss or damage to your personal possessions and protect your personal liability as well as liability for damage to another condo that originated on your property
- Maryland Landlord Insurance
- Coverage your property and guard against liability from accidents, injuries and natural disasters.
- Maryland Home-Based Business insurance
- Get the right liability, legal and property protection to pick up where your homeowners policy leaves off
- Maryland Vacant Home Insurance
- Protect your vacant property and your liability against the increased risks that weather, vandals or trespassers bring to an unoccupied home
Call Campion Insurance today and find out how we can help you get the best coverage at a price you can afford.