In recent years, Maryland has been suffering from both Superstorm Sandy and Hurricane Irene causing significant damages to the state. But despite its occurrence, Maryland’s average annual home insurance premium rate is $982 per year, compared to a nationwide average of $1,173 per year.
Because of the recent incident, Maryland has been taking several steps to protect its homeowners. They require home insurance companies to offer a pretty good deal considering what happened to the state. To start doing your research, you can use the online tool and simply comparing the options in the easiest way to save money.
Maryland’s Best Home Insurance Companies
If you are new to home insurance, Allstate home insurance company is good to start with. They offer budget-friendly options with generous discounts for start-ups. Allstate looks out for your budget by offering a unique feature, the Claim RateGuard. This optional coverage will work like accident forgiveness for your home.
Allstate’s quotes have a quite impressive selection of discounts that could help you save a bit off the price. Furthermore, signing up for the Claim-Free Bonus, the company will give you a cash back for every year you go without a claim.
When it comes to customer service, Erie Insurance is always on the top, not just that but also offers the lowest rates in Maryland. The company sold their policy through a network of independent agents, which comes with certain advantages and disadvantages. Erie Insurance offers comprehensive coverage that offers full cost replacement of any damage or stolen items.
The company’s HomeProtector coverage consists of three tiers: Broadcovers covers damage from fire and theft, Extracover a comprehensive coverage on buildings, and Ultracover which covers both personal and building property. Add-ons to the policy differ in what tier you choose. Moreover, Erie Insurance also offers unique options for service and rental income protection.
If you’re looking for a customized home insurance policy with optional coverage, Liberty Mutual is a great choice. They offer home insurance not just for homeowners but also for renters in Maryland residents. It offers a huge selection of discounts that you can take advantage of to secure a better rate.
If there is something you want to know more about the company, all of its coverage is clearly listed on its website and one of their agents will be happy to assist you. Apart from other home insurance company, only Liberty Mutual allows customers to purchase a home insurance policy online without speaking to an agent.
Farmers Insurance offers standard types of coverage, includes your property, possessions, liability, medical payments, and add-ons for living expenses. In terms of discounts, it only offers the standard options, such as multiple policies bundle, home improvements, and protective device. For claiming, Farmers will give you options in filing your claim online, through their iClaim app or via HelpPoint Claim Services representative.
Home insurance generally covers damages to your property but the payment still depends a lot on your location, home size, and its content. Choosing the best home insurance in Maryland will start in choosing the right company. Though each company has different policy options and discounts, still, you need to be wise enough in selecting the best deal.