Columbia Homeowners Insurance

Your Complete Guide to Columbia, MD Homeowners Insurance

Find the right homeowners insurance policy for you.

Columbia, Maryland is home to more than 103,000 residents. It is a planned community that consists of 10 self-contained villages. Each village is made up of several neighborhoods containing single-family homes, townhomes, condominiums, and apartments. Every village has at least one shopping center, recreational facilities, a community center, and a system of bike and walking paths. 

While Columbia is unique in its master plan and focuses on offering premier living conditions, it doesn’t mean that residents don’t face risks to their homes and properties. No matter where you live, fires, severe weather, thieves, and other unforeseen events can damage or destroy all or part of your home. If you live in Columbia, you must protect your investment with a home insurance policy that will respond when you need it most. An independent insurance agent in Columbia can help you find the best home insurance policy for your needs. Independent agents can help you get quotes from multiple insurance companies, so you can make the best choice for your needs and budget. 

Cost of Homeowners Insurance in Columbia, MD

Maryland is the 33rd most expensive state for home insurance in the US. While the cost of home insurance is lower than the national average in Maryland, Columbia residents pay a little more than residents of other cities. 

  • National average yearly premium: $1,173
  • Maryland average yearly premium: $982
  • Columbia average yearly premium: $1,134

Actual home insurance rates provided by your independent agent will be more or less than average, especially in a city like Columbia, where you can find a wide range of home styles and values. Home insurance rates are calculated on a case-by-case basis and are based on factors such as: 

  • The size of your house, the year it was built, and the age of your roof
  • The estimated cost to rebuild your home (replacement cost)
  • Your history of filing claims and your credit score
  • Your coverage limits and deductible amount
  • Whether you are purchasing other policies, such as car insurance, from the same insurance company

What’s more, every insurance company uses a different formula to calculate its rates, so premiums vary from carrier to carrier. It’s important to shop around to find the policy and insurance company that best fits your needs and budget. Independent agents in Columbia are there to help. Contact an agent today to get competitive quotes. 

Burglary Rate in Columbia, MD

The burglary rate in Maryland is similar to the national rate. The burglary rate in Columbia is also close to the national average. 

  • 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 Columbia: 4.08

Even though Columbia is a fairly safe city, most homeowners will want to take precautions to prevent thefts and break-ins. Be sure to lock your doors, keep your home well-lit, and make your house look occupied even when you aren’t at home. Home security systems serve as excellent theft deterrents. What’s more, many insurance companies offer discounts to policyholders who have installed burglar alarms in their homes.

If you are the victim of a burglary, your homeowners insurance company can reimburse you for lost and damaged possessions, as well as broken windows, doors, or locks. Be sure to call the police and your insurance company immediately if you discover a break-in. Keep a copy of the police report, too, because you’ll need it to file an insurance claim. And don’t forget, your independent insurance agent is there to help and advise you through the claims process. 

Catastrophic Events in Maryland

  • 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 Maryland: $836,597,000
  • 1 in 15 insured homes has a claim each year

The purpose of homeowners insurance is to cover your financial losses when something damages or destroys your home or personal property. As a homeowner in Columbia, you face hazards like fires and property crimes, and severe weather events like floods and hurricanes. And while covering the structure of your home appropriately is essential, be sure to get the coverage you need for your possessions, too. Sometimes certain art, valuables, or collections need additional riders or endorsements to ensure you are reimbursed for their full value if you have a loss. 

Hurricanes and floods are a real threat to Maryland. It’s important to keep in mind that while damage caused by hurricane wind and rain is covered by a home insurance policy, any damage caused by flooding is not. You should consider purchasing separate flood insurance from the National Flood Insurance Program (NFIP). Your independent insurance agent can answer your questions and help you determine what coverage is right for you. 

Liability Insurance for Columbia Homeowners

Homeowners insurance protects your assets from certain types of lawsuits you could face as a homeowner. While the likelihood of being sued is pretty low, the liability insurance portion of your homeowners policy becomes your financial lifeline if someone accuses you of negligence. Liability insurance is the portion of your home insurance policy that covers expenses related to a lawsuit. If you are sued, your expenses will include attorney fees, court costs, and any damages you are required to pay if you are determined to be at fault. 

Your homeowners insurance policy responds to lawsuits related to third-party injuries that occur on your property, damage caused by your pets or children, accusations of libel or slander, and other acts of negligence by you or a family member. Many Columbia homeowners choose to supplement their homeowners liability coverage with a personal umbrella policy. It enables you to protect all of your assets if you were forced to pay out a sum in excess of the liability limits of your home or auto insurance policy. An independent agent can help you assess your needs and explain more about your liability insurance options.

Second Home and Vacation Home Insurance

Any type of second home needs insurance coverage, and homes that do not serve as a primary residence actually involve some additional risks. You may even find that your second home insurance is more costly than the coverage for your primary residence. Vacation homes are often left unoccupied and unattended for several months of the year. These homes are more susceptible to thefts, vandalism, break-ins and property damage than homes that are occupied all year. Vacant home insurance can help give you peace of mind in these situations. 

If you have a rental property, your risk for liability claims and lawsuits is higher. Landlord insurance is typically necessary if you own a second home that is occupied by tenants. An independent insurance agent in or near Columbia can help you find the best policies to cover all of your properties. 

Why Work with an Independent Insurance Agent?

Independent insurance agents make it fast and easy to find the best policy to cover your home. Because they aren’t tied to a single insurance company, they can help you comparison shop for the best coverage and most affordable rates for your needs. 

Find an agent in or near Columbia to start comparing customized home insurance quotes from an assortment of highly-rated insurers.

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