College Park Homeowners Insurance

Your Complete Guide to College Park, MD Homeowners Insurance

Find the right homeowners insurance policy for you.

College Park is home to more than 32,000 people. Residents are attracted to this city because of its many cultural attractions, diverse neighborhoods, and affordable housing. If you own a house in this vibrant Maryland city, you will want to be sure to protect your investment with a solid homeowners insurance policy. When you are shopping for insurance for your College Park home, an independent insurance agent can help you find a reliable, competitively priced policy. Find an agent near you to learn more.

How Much Does Homeowners Insurance Cost in College Park?

  • National yearly premium average: $1,173
  • Maryland yearly premium average: $982
  • College Park yearly premium average: $989

Maryland is the 32nd most expensive state for home insurance. In College Park, home insurance rates are consistent with the state average. Of course, your quoted costs may vary from the figures above because rates are calculated individually according to several factors such as:

  • The age, size, and value of your house
  • The materials used in your home construction and the age of your roof
  • The number of occupants in your home
  • The crime rate and weather hazards common in your ZIP code 
  • Your claims history and credit score

If you bundle your home insurance with another policy like car insurance or life insurance, you can frequently get all of your policies at discounted rates. An independent agent in College Park can help you find the best policy to meet your coverage and budgetary needs.

Insurance in Minutes.

Request a Quote

Burglary Rate in College Park, MD

The burglary rate in Maryland is lower than the national average. In College Park, the rate is higher than the state average but still lower than that national rate. 

  • Number of burglaries per 1,000 homes in the US: 4.69
  • Number of burglaries per 1,000 homes in Maryland: 4.10
  • Number of burglaries per 1,000 homes in College Park: 4.27

You may want to consider installing a home security system. Of the various precautions you can take to lower your risk of a burglary, alarms are the most effective. That is why many insurance companies offer discounts to homeowners who have burglar alarms. Of course, nothing is foolproof, so if your home is broken into, you may take some comfort in knowing that your homeowners insurance policy can compensate you for your losses. Your independent agent can alleviate some of the stress this crime can cause by providing you with guidance throughout the claims process. 

Catastrophic Events in Maryland

The property coverage portion of your home insurance is divided into two parts: building, which covers the structure of your home; and contents, which covers your personal property. 

  • Number of declared disasters in Maryland: 32
  • Most common reasons for disasters in the state: Floods and Hurricanes
  • Average number of tornadoes per year in Maryland: 9.9
  • Average amount of property damage per year in MD: $836,597,000
  • 1 in 15 insured homes has a claim each year.

You will want to be sure that your coverage limits in each category are high enough to enable you to rebuild and replace if your house is badly damaged by a catastrophic event like a structure fire or hurricane. Particularly valuable property, such as original artwork or collections, may require you to purchase special endorsements to be fully covered. Homeowners insurance is designed to cover you against many of the hazards you are likely to face as a property owner in College Park. However, it will not cover you against flood damage. Fortunately, if you are at risk, your independent agent can help you secure a flood insurance policy through the NFIP.

Insurance in Minutes.

Request a Quote

Liability Coverage for College Park Homeowners

In addition to property coverage, all homeowners insurance policies provide you with liability coverage. This personal liability insurance is designed to pay for the associated court costs, legal fees, and damages if you are sued for a covered event. The following are some examples of times your homeowners liability insurance can protect you:

  • If a guest in your home is seriously injured due to an accident caused by negligence of upkeep
  • If your dog bites a pedestrian who is walking past your house
  • If your child kicks a soccer ball through your neighbor's window
  • If a tree on your property falls onto your neighbor’s house

Because of increased liability risks, some home insurance companies will charge more for coverage if there is a swimming pool on your property or if you own a dangerous breed of dog. If you feel you need more liability coverage than your home insurance can provide, your independent agent can also help you find an affordable umbrella insurance policy. Umbrella insurance can boost your liability coverage to much higher levels so you can further protect your assets.

Second Home and Vacation Home Insurance

Perhaps you own a vacation home along the coast. Or maybe you own a second home locally and you rent it out to students attending the University of Maryland. If you own additional properties, you will need to properly insure them with the right home policies. Houses that are not used as primary residences have additional risk factors that insurance companies will take into consideration. Often, this results in increased rates for coverage. A vacation home that is left unoccupied and unattended for several months out of the year has a higher risk of property damage. 

In that case, you may need to purchase vacant home insurance for the times it is uninhabited. A second home that is occupied by tenants has higher liability risks. You would, therefore, need to cover it with a landlord insurance policy. Your local independent agent can help you identify the various coverage needs associated with all of your properties, and will help you find the best insurance policies to cover each of them.

Why Work with an Independent Insurance Agent?

Independent agents can assist you with all of your insurance coverage needs. These agents are available to answer your insurance-related questions and help you shop for the best and most affordable policies.

Find an agent with an office in or near College Park to learn more. You will soon discover how easy it can be to compare quotes for customized, competitively priced homeowners insurance.

Share this page on Twitter Share this page on Facebook Share this page on LinkedIn

©2020, Consumer Agent Portal, LLC. All rights reserved.

http://www.naic.org/prod_serv/AUT-PB-14.pdf
https://www.census.gov
http://www.city-data.com
http://www.neighborhoodscout.com