Rockville Homeowners Insurance

Your Complete Guide to Rockville, MD Homeowners Insurance

Find the right homeowners insurance policy for you.

The county seat of Maryland’s Montgomery County, Rockville is home to more than 68,000 people. Residents are attracted to this city because of its reputation as one of America’s leading places for work, play, and life. If you own a house in this community-centric 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 Rockville 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 Rockville?

  • National yearly premium average: $1,173
  • Maryland yearly premium average: $982
  • Rockville yearly premium average: $1,228

Maryland is the 32nd most expensive state for home insurance. In Rockville, where property values are high, home insurance rates are higher than the state average. Of course, your quoted costs may vary from the figures shown above because rates are calculated individually according to several factors such as:

  • The age, size, value, and other details about your house
  • The crime rate and weather hazards common in your ZIP code 
  • Your claims history and credit score
  • The amount of your deductible

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

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Burglary Rate in Rockville, MD

The burglary rate in Maryland is lower than the national average, and in Rockville, the rate is even lower. This is good news because it can help keep insurance rates affordable. 

  • 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 Rockville: 1.23

Although the risk of burglary is relatively low, it is not nonexistent. You may want to consider installing a home security system. Of the many precautions you can take to lower your risk of a burglary, these alarm systems are the most effective. That is why many insurance companies offer discounts to homeowners who have burglar alarms. In the event that 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 help you review your contents coverage to ensure that your most valuable belongings are properly covered. 

Catastrophic Events in Maryland

Homeowners insurance is designed to cover loss or damage to the structure of your house as well as the contents, or personal property, inside it. You will want to be sure that your coverage limits are high enough to enable you to rebuild, repair, or replace if your house is badly damaged by a catastrophic event like a structure fire or hurricane.

  • 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.

Homeowners insurance is designed to cover you against many of the hazards you are likely to face as a property owner in Rockville. However, although it will cover against hurricane damage, it will not cover the flood damage that tends to accompany these storms. Fortunately, your independent agent can also help you secure a supplementary flood insurance policy through the NFIP.

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Liability Coverage for Rockville Homeowners

In addition to property insurance, your homeowners policy provides you with liability coverage. This personal liability insurance is designed to pay for the associated expenses—such as court costs, legal fees, and damages—if you are sued for a covered event. Some examples of times your homeowners liability insurance can protect you include:

  • If a visitor to your home is seriously injured due to an accident caused by negligence of upkeep.
  • If your dog gets loose and bites someone.
  • If your child causes damage to another person’s home.
  • If you are sued for libel or slander due to something you posted online.

Some home insurance companies will charge more for coverage if there is an increased liability risk due to having a swimming pool on your property or owning a dangerous breed of dog. If you wish to have even more liability coverage than your home insurance can provide, your independent agent can help you secure an umbrella insurance policy. Umbrella insurance is an affordable way to significantly boost your liability coverage so you can better protect your assets.

Second Home and Vacation Home Insurance

If you are among the Rockville residents who own additional properties, you will need to properly insure them with the right home policies. Houses that are not your primary residence 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 uninhabited 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 not being used. 

A second home that is occupied by tenants, such as students at Montgomery College, 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 are available to assist you with all of your insurance coverage needs. These local agents can answer your insurance-related questions, offer trustworthy advice, and help you shop for the best and most affordable policies.

Find an agent with an office in or near Rockville to learn more. You will soon discover how easy it can be to compare 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
https://www.rockvillemd.gov/271/Weekly-Crime-Reports