Maryland Homeowners Insurance – How to Get the Best Rate
Maryland Homeowners Insurance – How to Get the Best Rate
Buying homeowners insurance in Maryland can be expensive … unless you know what to do and where to go to get discount rates. Here are four tips that will help you save big bucks on your homeowners insurance.
Maryland Homeowners Insurance
Homeowners insurance is a necessity if you want to insure that your house and your belongings are safe from fire, theft, vandalism, and weather damage. Homeowners insurance not only protects your home and your personal property, it also protects you from lawsuits when people hurt themselves in your home.
Money-Saving Tips
1. Insure your home, not your land. When you buy a home your mortgage company probably based your homeowners insurance on the appraised value of your home. Appraisals include the value of your land, which you don’t need to insure.
To get the amount of homeowners insurance you need, ask a local builder how much it would cost to rebuild it and use that figure.
2. Get the highest deductible you can afford. For instance, raising your deductible from $250 to $1,000 will save you up to 25% on your annual premium. Raising your deductible also prevents you from filing excessive claims which can cause your insurance company to cancel your policy.
3. Combine you home and auto insurance. Purchasing your home and your auto insurance with the same company can save you as much as 15% on your yearly premium.
4. Install Safety and Security Features. Installing fire alarms, burglar alarms, sprinkler systems, dead bolts, window locks, and fire extinguishers not only gives you a big discount on your insurance, it also gives you peace of mind.
The Biggest Money Saver
Homeowners insurance can vary by $1,000 or more from one insurance company to the next, so the best way to save the most amount of money on your insurance is to compare rates from different companies.
The simplest way to do that is to go to an insurance comparison website where you can get rate quotes from a number of insurance companies. A few of these sites even offer an online chat feature and a toll-free telephone service where you can get advice from an insurance expert. (See links below.)
Visit http://www.LowerRateQuotes.com/homeowners-insurance.html or click on the following link to get Maryland homeowners insurance quotes from top insurance companies and see how much you can save. You can get more insurance tips in their Articles section.
Watch the video related to Homeowners insurance
Insurance may be necessary, but it doesn’t have to be expensive. Our money reporter Stacy Johnson has been giving us ways to save on insurance all month. Today he explores homeowners insurance.
Help answer the question about Homeowners insurance
About Author
The author, Brian Stevens, is a former insurance agent and financial consultant who has written a number of articles on Maryland homeowners insurance.
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Posted by American Car Insurance on August 21st, 2009 filed in homeowners insurance | 18 Comments »
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18 Responses to “Maryland Homeowners Insurance – How to Get the Best Rate”
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Link Partner
August 21st, 2009 at 9:15 pm
We have no leadership, plain and simple.
August 21st, 2009 at 9:23 pm
Nice Nice Video. I really loved your video. Youtube can be a great asset for you. If you need any help getting your video exposed, check out this site called tubeviews [dot net] It has really done wonders for me, I have built 3 Channels up with videos at top in position and this is my forth channel i’m going to working on.
Thomas, Monroe, AL
August 21st, 2009 at 8:35 pm
They don't ask, but there is a good chance they will find out anyway. My aunt has a trampoline in her back yard, which is prohibited, but she figured no one would ever know. It went unnoticed until some teenager tried to dial a number on his cell and hit the front of her house. Her insurance company (along with his) came out to inspect the damage and saw the trampoline.
They also find out when the dog attacks someone in the neighborhood or gets loose and chases the mailman and a complaint is filed.
There are plenty of incidents that could take place that would cause the insurance company to come out.
August 21st, 2009 at 8:58 pm
It really depends on how it breaks, what type of policy you have and the insurance company?
Some company's can even add riders to your policy to cover it.
Call you insurance company or ask your agent!
August 21st, 2009 at 9:25 pm
You need to call an insurance company for quotes, start with your auto insurance company & go from there. There are many questions, what does the master policy cover? You would need to read the condo bylaws to find out. Does that policy cover everything attached to the unit or only to the studs? Does it cover anything that you add to or alter in the unit? So, you would purchase a condo policy (HO6 form), you would need to find out from the condo association what you actually need to cover. That would be the dwelling limit you need. Then you need to tell the insurance company how much contents coverage you want (if you had to replace everything you own), then get at least $500,000 liability, $5,000 medical payments & get $50,000 (or the company maximum) loss assessment (this covers if you are assessed for damages to common property – simplified definition – you would need to speak to an agent to explain it to you). You would also need to tell the agent the deductible you want (property coverage).
Good luck in your purchase but no one here can give you a quote.
Homeowners insurance is always an annual policy.
August 22nd, 2009 at 4:23 am
its a sign of patriotism not a sign of whos American Citzens!! And what if i did work at McDonalds? That would make me less of a person huh?? It wouldnt but i see by your comments you would think so but you wanna comment on what a true American is when its americans like you who pollute America with your prejudice!! And i dnt “get it” you dont “get it” haters like u are only going off of things that the government allows you to know..Barack knows much more..He got this!! So stop riding his d***!
August 22nd, 2009 at 5:53 am
Look dumbass, you’re not running for pres, neither is yer buddy chill, IT IS A SIGN OF PATRIOTISM! One that every presidential candidate should display at all times and has. I’m sure you wear a uniform at McDonald’s, right? Same thing, bigger scale.
It’s people like you that truly don’t “get it” and that is the underlying problem here. Until you do, there’s no point of talking any more. It’s useless drones and sheep like yourself that elected this liberal wackjob, not me! Good luck with that!
August 22nd, 2009 at 1:16 am
Thank you for running into each other instead of an innocent person who is following the rules.
You stand as much chance as your homeowner paying the bills for your accident as there is that your auto insurance would cover your house burning down.
If that's not plain enough, NO.
Which ever of you was at fault in the accident owes the other for all damages.
August 22nd, 2009 at 3:54 pm
Go the the taxing authorities homepage for your county (Google it). You can look up the average taxes on the homes for the neighborhoods you are considering.
August 23rd, 2009 at 5:01 am
The more available you are to potential customers, the more likely you will get to quote them. I know that when I am attempting to buy something, I partly base my decision on how easy it is to get ahold of someone.
August 23rd, 2009 at 2:24 pm
I dont work at Mcdonalds and I am a month away from a bachelor ’s degree in Mass Communications/Media and History. What are your degrees in if you dont mind me asking?
August 24th, 2009 at 3:38 am
Mid 40’s and have 3 degrees, but not from any liberal schools, actually argued with a few of my professor’s on a lot of issues and wasn’t well liked after proving a couple of them wrong on some things. People with an agenda shouldn’t be allowed to teach or report the news, amongst others, it’s just irresponsible for professionals to do so. What kind of world would we live in if we had one way thinkers? Where would we be? It’s certainly wouldn’t be the United States of America as I know it!!!!
August 24th, 2009 at 6:14 am
Hence the McDonald’s comment. You won’t get it, and the MickeyD’s comment was that of intelligence, not a personal attack. People who work in non-skilled labor positions, typically don’t have the education others have, that’s my point, and you drove that home beautifully.
It’s not about hating Obama, it’s about hating his policies, and knowing they won’t work.
I suggest you get a dose of some bipartisan media and listen to the experts on this, not just the experts with an agenda, that’s absurd
August 24th, 2009 at 6:39 am
Yes very much so. Certain breed's of dogs will void a home owners insurance policy. This is based usually on vicious breeds who tend to generage alot of liability claims. It states this clearly in your policy. If your friends looks at her HO3 policy she will see which specific breeds will cancel her policy. Also many HO3 policies place exclusions against trampolines & swimming pools.
If she chooses to keep the dog – she will have to go through an excess/surplus company to get her homeowners insurance. She will pay about 3x the amount she was paying prior. Its up to her if the dog is worth keeping.
August 24th, 2009 at 12:57 pm
Part of the problem we face with BHO is simple, he doesn’t have the experience to lead this country in any facet, it’s just hard and clear fact, there’s no way he could. He’s a Jr Senator with 3-5 yrs experience, so he has to depend on people like Pelosi, Reid, Frank and other extremely liberal talking heads to tell him what to do. He has the most radical, liberal agenda this country’s ever faced, arguably Carter, but look how that worked. Do you want the same thing? If so, you got it.
August 24th, 2009 at 1:35 pm
If I were you, I'd look into two things in particular:
First is a mortgage disability policy. You would probably want to take out this policy on both you and your husband. This will help to cover mortgage payments if you or your husband are injured and unable to bring in income.
I'd also look into life insurance policies on each of you. If your husband were to pass away, would you be able to continue making mortgage payments on your own? Would you choose to move? If not, life insurance is a must.
August 24th, 2009 at 8:08 pm
Oh and congratulations! I have masters in IT and music and a BA in engineering. Doesn’t matter though, you need to be able to see through the smoke and stop taking things in a literal sense without looking at the flipside. If someone says they’re going to give you $500, there’s a reason for that and another unbeknown to the person that assumes it is what it is. Most people aren’t smart enough to understand this. There’s always a re-action for every action.
August 24th, 2009 at 4:54 pm
I have to say, I support the insurance company on this one. They have to manage risk, and part of that risk the dogs people own. Unfortunately, there are quite a few really bad pit owners out there. Don't blame the insurance company, blame the irresponsible owners.
Besides, to make a comparison- a regular doc's malpractice insurance is about a fraction of what it is for a ob- have you ever wondered why there seem to be a larger number of docs getting OUT of the baby business? Used to, all gyns did OB, now, that number keeps dropping. Mostly because they can't afford to pay the insurance AND deliver babies. Are the insurance companies discrminiating against OB's?