Renters Insurance in Frederick Maryland
Maryland Renters Insurance
Balderson Insurance offers renters insurance in Maryland from several of the top insurers in the state. We are an independent insurance agency, meaning we are not “captive” to any one carrier. We are focused solely on the best interests of our clients and finding the right coverage to fit their needs. Call us today at (301) 874-0772 if you have questions and need renters insurance in Frederick Maryland.
Why do I need renters insurance?
In Maryland, there is no requirement for renters to purchase insurance to cover their personal belongings. However, if you have valuable personal property and financial assets at risk, renters insurance is a wise and relatively inexpensive investment.
What is covered in a renters insurance policy?
Renters insurance has many of the same components as a homeowner policy, the main difference being that renters do not need to cover the dwelling in which they live.
A standard renters policy covers:
- Personal Property: Your personal belongings are covered for losses such as fire, theft, vandalism, windstorms, hail, and other similar incidents. Coverage for your contents/personal property usually starts at $10,000 and goes up from there. You may also purchase additional riders for valuable items (such as jewelry or furs) that are worth more than the $1000 to $2,000 maximum most standard policies cover for each individual item.
- Liability: If someone is injured within your dwelling and/or you or a family member personally injures another party, liability coverage will provide protection in case you are sued by that party. Most renters policies provide a minimum of $100,000 in liability coverage.
- Additional Living Expenses: This covers you for temporary living expenses should you be displaced from your rental dwelling due to a covered event. Hotels, meals, and other related expenses are typically covered in this portion of the policy.
Renters of houses and mobile homes will need other special coverages to be fully protected. Contact us to discuss the renters insurance coverage needs for your specific situation.