Gaithersburg Homeowners Insurance

Your Complete Guide to Gaithersburg, MD Homeowners Insurance

Find the right homeowners insurance policy for you.

The city of Gaithersburg is home to more than 68,000 people. Residents are attracted to this city because of its low crime rate, wide variety of public and recreational facilities, and economic diversity. Whether you own an older house in Gaithersburg’s east side or a newly-built property on the west side, you will want to be sure to protect your investment with a suitable home insurance policy. When you are shopping for the right insurance coverage for your home, a local independent insurance agent can help. Contact an agent near you to start your search for the best homeowners insurance policy in Gaithersburg.

Cost of Homeowners Insurance in Gaithersburg, Maryland

Maryland is the 32nd most expensive state for home insurance. Homeowners insurance rates are comparatively low in this state. In Gaithersburg, the average rate is a bit higher than the state average.

  • National average yearly premium: $1,173
  • Maryland average yearly premium: $982
  • Gaithersburg average yearly premium: $1,022

You can expect your actual home insurance quotes to vary from the average rates above, especially in a city like Gaithersburg, where you can find a wide range of home values. Home insurance costs 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 number of stories your house has, and the materials used in its construction
  • Your claims history and credit score
  • The size of your deductible
  • Whether you are bundling your homeowners coverage with other policies like car insurance or life insurance

Each insurance company has its own distinct formula for calculating rates, so each is likely to quote you a different amount. Comparing rates lets you choose the homeowners insurance policy that offers the best value. Independent agents in Gaithersburg make comparison shopping easy.

Burglary Rate in Maryland

The burglary rate in Gaithersburg is significantly lower than the national rate. This does not mean the risk does not exist, however. There are nearly 200 burglaries reported in this city each year. 

  • 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 Gaithersburg: 2.40

There are precautions you can take to safeguard your home against burglaries. Home security systems make excellent theft deterrents. In fact, many insurance companies offer discounts to policyholders who have installed burglar alarms in their homes. If you are the victim of a burglary, you may take some comfort in knowing that your home insurance company can reimburse you for the loss and damage. Be sure to get a copy of the police report because you will need it when you file a claim. If you need assistance, your independent insurance agent can advise you throughout the claims process.

Insurance in Minutes.

Request a Quote

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

Your home insurance policy is designed to provide coverage against many of the risks you are likely to face as a homeowner in Gaithersburg. This includes accidental fires, property crimes, and severe weather events. If you’d like, your independent agent can help you review your contents coverage limits so you can be sure that you are fully covered. 

Gaithersburg residents are frequently affected by hurricanes that make landfall along the eastern seaboard. Often, these storms cause excessive rainfall that can lead to flooding. Unfortunately, although hurricane damage is typically covered by home insurance, the associated flood damage is not. Your independent agent can help you get a supplementary flood insurance policy so that you are protected against this expensive hazard.

Liability Insurance for Gaithersburg Homeowners

Your home insurance can also cover you against a number of potential liability lawsuits you may face as a homeowner. Most people never need to use the personal liability coverage provided by their home policies, but when they do, they are glad they have it. This added protection can shield you from the possibility of losing your home in the aftermath of an expensive lawsuit.

Homeowners liability insurance is designed to cover court costs, legal defense fees, damages, and other associated expenses if you are sued for a covered event. This insurance can cover lawsuits related to third-party injuries that occur on your property, damage caused by your pets or children, and accusations of libel or slander. Many residents of Gaithersburg have a lot to lose. Supplementing your homeowners liability insurance with an umbrella policy can give you far more liability coverage than your home insurance can provide. This enables you to fully protect your savings and other assets. An independent agent can explain more about your liability insurance options.

Insurance in Minutes.

Request a Quote

Second Home and Vacation Home Insurance

If you are among the Gaithersburg residents who own more than one house, you will need to appropriately insure all of your properties. A house that does not serve as your primary residence has additional risk factors that insurance companies will take into consideration. These homes may, therefore, cost a bit more to insure.

Vacation houses are often left unoccupied and unattended for several months of the year. This increases their property damage risks. In this case, the property may need to be covered by vacant home insurance during the times that it is uninhabited. Second homes that are used as investment vehicles by renting them out to tenants have higher liability risks. In this case, the house would need to be covered by a landlord insurance policy. Your local independent agent can help you find the best and most affordable policies to cover all of your houses.

Why Work with an Independent Insurance Agent?

Independent insurance agents make it fast and easy to find the best policy to cover your Gaithersburg home. These agents can work with several different insurance providers to make sure you are getting your coverage at the best rate. 

Find an agent in or near Gaithersburg to learn more, and you can soon be comparing customized home insurance quotes from an assortment of highly-rated insurers.

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