Insurance coverage for rental homes is very important although it is not a requirement. If you own your own home and still have a mortgage, then the bank requires that you have insurance for that home, but if you are in a rental you are not required to insure your personal property. Renters insurance in MD is important for renters because the landlord’s insurance will only cover the structure of the home and will not cover your personal belongings.
You will find that you can save money by bundling your insurance policies. You can check with your insurance agent and have them price out the cost of renters insurance in MD and see if they can give you a discount on that cost due to them also carrying your policy for your automobiles and possibly your life insurance. Rental insurance will often cover vandalism and theft as well as specific natural disasters such as wind or hailstorms and fire or smoke damage.
Before calling your insurance agent you may want to make a list of your big ticket items in your home that would need to be replaced if there were a fire or theft. They should be able to add in a value for all of the other smaller items in your home so that you don’t have to price out every little thing. One way to lower the cost of renters insurance in MD is to make sure that the home is has working fire alarms and fire extinguishers and you may also want to include a burglar alarm if you live in a high crime area. Be sure to discuss all of your options with an insurance agent. Visit our website to know more.