Cambridge Homeowners Insurance

Your Complete Guide to Cambridge, MD, Homeowners Insurance

How to find a local adviser in minutes

Cambridge Maryland Homeowners Insurance

Cambridge, MD, has approximately 12,260 residents. When you own a home here, you'll want the right coverage for all the what-ifs. Homeowners insurance is essential in protecting your investment.

Fortunately, an independent insurance agent can help find a policy that fits your needs and your budget. Since they work with multiple carriers, you'll have some of the best options around. Connect with a local adviser to start saving today.

What Does Homeowners Insurance Cover In Cambridge, MD?

Your Cambridge, MD, homeowners insurance is crucial if you want to avoid financial ruin. Every policy will have automatic limits of protection that are standard. The majority of homeowners policies have the following coverages.

  • Dwelling limit: Pays for the replacement or repair of your home itself when a covered claim occurs.
  • Personal property: Pays for the replacement or repair of your personal belongings.
  • Personal liability: Pays for bodily injury, property damage, and libel or slander claims against a household member.
  • Additional living expenses: Pays for your temporary stay at another property when a claim renders your home unlivable. 
  • Medical payments: Pays for the first $1,000 - $10,000 of a medical expense when a third party gets injured on your property.

Perils your homeowners policy will cover

  • Fire
  • Wind
  • Hail
  • Lightning
  • Severe storms
  • Theft and vandalism

Catastrophe/Common Disasters in the Area

In order to avoid a large loss, you'll need to have the right coverage in place beforehand. In 2020, Maryland had approximately 836,597,000 home insurance claims. Take a peek at the top exposures in Cambridge, MD. 

  1. Flooding and water damage
  2. Hurricanes and tropical storms
  3. Severe storms and lightning
  4. Burglary and other property crimes

Cambridge's weather-related statistics

The number of natural disasters in Cambridge: 1

Major presidentially declared disasters in Cambridge: 11

Emergencies declared in Cambridge: 5

Let's look at the top three causes in Cambridge

Hurricanes: 6 declared as a disaster

Winter storms: 4 declared as a disaster

Snowstorms: 2 declared as a disaster

How flood insurance can help in Cambridge, MD

Your primary homeowners insurance won't have coverage for flooding. In fact, it excludes water damage caused by a flood altogether from the policy. The only way to be fully protected from a loss is by obtaining separate flood insurance.

How Much Does Homeowners Insurance Cost In Cambridge, MD?

In Cambridge, MD, insurance costs vary from person to person. Each homeowners policy is unique and specific to the named insured and their property information. Take a look at the items insurance companies use to determine your premiums.

  • Where you live
  • How many claims you've filed
  • How new your house is
  • How close you are to a fire department
  • How close you are to a fire hydrant
  • The materials of your home
  • Your credit score
  • If you have a pool, trampoline, or pet
  • The square footage of your home
  • How much it costs to replace your home

The average home insurance premium

  • National average: $1,211
  • Maryland average: $1,037

Risk factors you can improve

  • Improving your credit score
  • Filing fewer insurance claims
  • Updating your roof, electrical, plumbing, or heating

Liabilities

In order to have the right protection for your Cambridge, MD, home, there are two necessary policies. Both will have limits of liability that can help in different scenarios. Take a peek at the most common ways to obtain liability protection.

Umbrella insurance will apply when your underlying homeowners liability limits have been exhausted. It is used for your more substantial claims and can help you avoid garnishment of wages or worse. Umbrella coverage starts at $1,000,000 and goes up from there.

Property Crimes

Theft and vandalism are common coverage under your homeowners policy. It will protect you and your belongings in the event of a burglary. Every city is at risk for local crime, and protection should be considered seriously. Take a look at the burglaries per 100,000 households below.

  • National average: 376.00
  • Maryland average: 312.60
  • Cambridge average: 1,125.00

How a Local Agent Can Help Find Insurance

If you're looking for the perfect policy to insure your property and liability, consider using a trained professional. There are several coverage options when it comes to your personal assets, and each one should be reviewed. Homeowners insurance can help protect your largest investment.

An independent insurance agent has access to multiple markets, giving you the best coverage and premiums in town. They do the shopping for free so that you can save big time. Connect with a local expert on TrustedChoice.com in minutes. 

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TrustedChoice.com Article | Reviewed by Jeffrey Green

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