Laurel Homeowners Insurance

Your Complete Guide to Laurel, MD Homeowners Insurance

Find the right homeowners insurance policy for you.

Laurel, MD is a largely residential city. Many of the 26,000 residents who live here work in the nearby cities of Baltimore and Washington, D.C. With its many parks, facilities, sports leagues, and city events, Laurel has a lot to offer. If you are among the proud homeowners in this historic Maryland city, you will want to be sure to protect your investment with a solid home insurance policy. Independent insurance agents can help you find the best and most affordable insurance coverage for your home. Find an agent in or near Laurel to learn more, and you can soon start comparing homeowners insurance quotes.

Cost of Homeowners Insurance in Laurel, Maryland

Maryland is the 32nd most expensive state for home insurance in the US. The average home insurance rate in this city is lower than the national rate, and in Laurel, it is even lower. That doesn’t mean you don’t have room for big savings when you are shopping for coverage.

  • National average yearly premium: $1,173
  • Maryland average yearly premium: $982
  • Laurel average yearly premium: $936

Your actual home insurance quotes are likely to be different from the rates above because costs are calculated individually based on a number of considerations. Your rates can be influenced by factors such as: 

  • The size, age, and value of your house 
  • The number of stories your house has and the age of your roof
  • The crime rate and weather risks in your ZIP code
  • Your claims history and credit score
  • The amount of your deductible
  • Whether you are bundling your coverage with other policies like car insurance, business insurance, or life insurance

Each insurance company has its own way of calculating rates. Comparing quotes lets you choose the homeowners policy that offers the best value for coverage. Independent agents in Laurel make comparison shopping easy.

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Burglary Rate in Laurel, MD

The burglary rate in Maryland is a bit lower than the national average, and in Laurel, the rate is right between the two. Residents of this city report approximately 120 burglaries a 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 Laurel: 4.43

There are things you can do to lower your chances of a burglary, such as keeping entryways locked, well-lit, and unobstructed. The most effective precaution is installing a burglar alarm. That is why most insurance companies offer discounts to policyholders who have home security systems. In the unfortunate event that you are the victim of a burglary, it can be quite stressful. However, you may gain some comfort in knowing that your home insurance can reimburse you for your losses. If needed, your local independent agent can assist you throughout 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 MD: $836,597,000
  • 1 in 15 insured homes has a claim each year.

Your homeowners insurance policy is designed to cover you against many of the hazards you are likely to face as a property owner in Laurel. This includes everything from uncontrolled kitchen fires to damaging weather events. An independent agent can help you review your structure and contents coverage limits so you can be sure that they are high enough to enable you to rebuild, repair, or replace as necessary.

One of the biggest weather risks faced by residents of Laurel is that of hurricane damage. Make sure that you have prepared an evacuation plan and have plenty of supplies on hand before disaster strikes. You can reduce potential damage to your home by boarding up doors and windows, and securing loose outdoor property. Keep in mind that although hurricane damage is covered by most home insurance policies, the flood damage that typically accompanies these storms is not. If your property is at risk for flooding, your local independent agent can help you supplement your home coverage with a flood insurance policy.

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Liability Insurance for Laurel Homeowners

Your home insurance policy also includes liability coverage. This personal liability insurance is designed to cover the various expenses (such as court costs, legal defense fees, and damages) you may accrue if you are sued for a covered event. Some examples of times your homeowners liability coverage can protect you include:

  • If a visitor in your home trips on loose carpeting and is severely injured.
  • If your child hits a baseball through a neighbor’s window and it damages an antique.
  • If your dog bites a passerby and he requires stitches.
  • If a dead tree you’d been meaning to have cut down falls onto your neighbor’s car.
  • If you are accused of libel or slander because of something you posted on social media.

Many residents of Laurel have a lot to lose. Supplementing your coverage with an umbrella insurance policy provides you with additional liability coverage so you can further protect your assets. An independent agent can explain your liability insurance options in greater detail and can help you get the coverage you want at a competitive rate.

Second Home and Vacation Home Insurance

If you are among the residents of Laurel who own more than one home, you will need to make sure that all of your houses are insured with appropriate policies. A house that is not your primary residence will often have additional risk factors, which insurance companies will take into consideration when calculating rates. If you own a vacation home the property may be left unoccupied for several months out of the year. In this case, the house would have an increased risk of property damage, and you would need to look into vacant home insurance

If you rent out a second home to tenants, you will have higher liability risks, and you would need to cover the property with a landlord insurance policy. Your local independent agent can help you review the coverage needs of your second home or vacation home and can assist you with finding the best and most reasonably priced policies for all of your properties.

Why Work with an Independent Insurance Agent?

The easiest way to find reliable homeowners insurance at a great price is by working with an independent agent. These agents work for you, not for an insurance company, so you can be sure that you are getting the coverage you need at a price you can afford. Independent agents in Laurel are ready to help. 

Contact an agent near you to start comparing customized home insurance quotes.

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