Hagerstown Homeowners Insurance

Your Complete Guide to Hagerstown, MD Homeowners Insurance

Find the right homeowners insurance policy for you.

The county seat of Maryland’s Washington County, Hagerstown is home to more than 40,000 people. Residents are attracted to this city because of its affordable housing, numerous parks and cultural venues, and excellent public transportation system. If you own a house in Hagerstown, you will want to be sure to safeguard your investment with a reliable home insurance policy. When you are shopping for insurance for your Hagerstown home, an independent insurance agent can help you find the best and most affordable policy. Contact an agent with an office near you to learn more.

How Much Does Homeowners Insurance Cost in Hagerstown?

Maryland is the 32nd most expensive state for home insurance. The average cost of home insurance in this state is lower than the average national rate, and in Hagerstown, costs are even lower. This is good news if you are in the market for an affordable policy.

  • National yearly premium average: $1,173
  • Maryland yearly premium average: $982
  • Hagerstown yearly premium average: $858

Insurance companies calculate rates individually. They are based on several factors such as the age, size, and value of your home, the crime rate and weather risks in your ZIP code, and, sometimes, even your credit score. If you bundle your home insurance with other policies like car insurance or life insurance, you can often get all of your coverage at a reduced rate. An independent agent in Hagerstown can help you find comprehensive home insurance at the most competitive price.

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Burglary Rate in Hagerstown, MD

The burglary rate in Maryland is lower than the national average, but in Hagerstown, the rate is quite high. There are more than 350 burglaries reported in this city in a typical year.

  • Number of burglaries per 1,000 homes in the US: 4.69
  • Number of burglaries per 1,000 homes in MD: 4.10
  • Number of burglaries per 1,000 homes in Hagerstown: 9.00

If your house is broken into, you should first ensure that you and your family are safe, and then call the authorities. You will need a copy of the police report when you file an insurance claim so that you can be reimbursed for your loss. Your independent agent can provide guidance throughout the claims process. Of course, the ideal scenario is to avoid being burglarized in the first place. There are a few preventive measures you can take to lower your risk of a robbery. Home security systems are highly-effective theft deterrents, and insurance companies frequently offer discounts to policyholders who have installed burglar alarms in their houses. Your local agent can help you be sure that your most valuable belongings are properly covered.

Catastrophic Events in Maryland

The property coverage included in your home insurance is divided into two parts: building and contents. The first covers the structure of your house, and the second covers your personal belongings. You will want to be sure you have sufficient coverage in each category so that you can afford to rebuild and replace following a catastrophic event like a hurricane or a fire.

  • 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 homeowners insurance is designed to cover you against many of the hazards you are likely to face as a property owner in Hagerstown. While most policies will cover against hurricane damage, they will not cover floods, even when they are associated with a hurricane. Fortunately, if you are at risk, your independent agent can help you secure a supplementary flood insurance policy through the National Flood Insurance Program (NFIP). Flood insurance policies take 30 days to go into effect, so do not wait until a flood is imminent to purchase coverage.

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Liability Coverage for Hagerstown Homeowners

Homeowners insurance also provides policyholders with personal liability insurance. This absorbs the costs associated with most of the liability lawsuits you are likely to face as a property owner. Examples of times your homeowners liability insurance can protect you include:

  • If a tree in your yard falls onto your neighbor’s property and causes expensive damage.
  • If your dog bites a fellow pedestrian while you are out for a walk.
  • If a guest is severely injured on your property and sues for medical costs.
  • If your child accidentally damages another person’s property while playing ball.
  • If you are accused of libel or slander because of something you posted online.

Because of the increased liability risks they present, if your property includes a swimming pool or if you own a dangerous breed of dog, your home insurance company may charge you higher rates for your coverage. Some homeowners in Hagerstown want to have more liability coverage than their home insurance will provide. If this applies to you, an affordable umbrella insurance policy can significantly boost your liability coverage so that you can further protect your assets. Your independent insurance agent can help you obtain this added coverage.

Second Home and Vacation Home Insurance

Some residents of Hagerstown own more than one house. If you are insuring a property that is not your primary residence, costs may be a bit higher. This is because insurance companies need to take additional risk factors into consideration. Second homes that are occupied by tenants have higher liability risks and need to be covered by landlord insurance. Vacation homes are frequently left unoccupied for long periods and have higher risks of property damage. These homes may need to be covered by vacant home insurance when they are not in use. A local independent agent can identify the various coverage needs associated with all of your properties. They can then help you find the best and most affordable insurance policies to cover all of your homes.

Why Work with an Independent Insurance Agent?

When you are looking for the best home insurance in Hagerstown, local independent agents can make comparison shopping easy. These agents are available to answer your questions, offer advice, and help you with all of your insurance coverage needs. 

Contact an agent in Hagerstown to start comparing quotes for customized, competitively priced homeowners insurance.

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