Takoma Park Homeowners Insurance

Your Complete Guide to Takoma Park, MD Homeowners Insurance

How to connect with a local expert in minutes

Takoma Park Maryland Homeowners Insurance

Takoma Park, MD, is home to 17,725 residents, making it a small town. If you own a property here, there are specific policies that are necessary to be adequately protected. Homeowners insurance is one of them, and it can be found through a trusted adviser. 

An independent insurance agent will have access to several markets so that you get the best coverage for an affordable price. They will do a full policy review at no cost, so you know exactly what you need. Connect with a local expert to get started on quotes. 

What Does Homeowners Insurance Cover in Takoma Park, MD?

Homeowners insurance in Takoma Park, MD, will insure a variety of things. Some specific items are automatically included in every home policy. The majority of homeowners policies have the following coverages:

  • Dwelling limit: Pays for the replacement or repair of your home itself when a covered claim occurs.
  • Personal property: Pays for the replacement or repair of your personal belongings.
  • Personal liability: Pays for claims of bodily injury, property damage, or slander against a household member.
  • Additional living expenses: Pays for your temporary stay at another property when a claim makes your home uninhabitable. 
  • Medical payments: Pays for the first $1,000 - $10,000 of a medical expense when a third party gets injured on your property.

There are other liabilities faced by homeowners to consider as well. Here are a few examples of common risks in Maryland that your homeowners policy will cover:

  • Fire
  • Wind
  • Hail
  • Lightning
  • Severe storms
  • Theft and vandalism

Catastrophes/Common Disasters in the Area

Every city will have common natural disasters that should be covered under your homeowners policy. In Maryland, 836,597,000 home insurance claims were paid in 2019. Take a peek at the top exposures in Takoma Park, MD:

  • Flooding and water damage
  • Hurricanes and tropical storms
  • Severe storms and lightning
  • Burglary and other property crimes

Homeowners should also be aware of some of the most prominent weather-related risks in Maryland. Here are some statistics for Montgomery County, where Takoma Park is located:

  • The number of natural disasters: 19
  • Major presidentially declared disasters: 14
  • Emergencies declared: 5

Take a look at the top three causes of weather-related risks in Montgomery County:

  • Hurricanes: 5 
  • Winter storms: 5 
  • Snowstorms: 4 

How Flood Insurance Can Help in Takoma Park, MD

Flood insurance is a necessary coverage to obtain for any property owner. Did you know that your primary home policy won't have insurance for a claim that has to do with flooding? 

To be properly insured, you'll need to have a separate flood insurance policy through a FEMA-approved carrier. Your local agent can quote that in addition to your other policies.

How Much Does Homeowners Insurance Cost In Takoma Park, MD?

The carriers will rate your home insurance costs based on numerous factors. They look at everything from personal data to local weather when figuring your prices. Take a look at the items insurance companies use to determine your Takoma Park premiums:

  • Where you live
  • How many claims you've filed
  • How new your house is
  • How close you are to a fire department
  • How close you are to a fire hydrant
  • The materials of your home
  • Your credit score
  • If you have a pool, trampoline, or pet
  • The square footage of your home
  • How much it would cost to replace your home

Here are the average home insurance premiums that homeowners in Takoma Park should be aware of:

  • National average: $1,211
  • Maryland average: $1,037

Although there is a variety of risk factors that all homeowners should be protected against, there are a few simple steps you can make towards improving your rates in Takoma Park.

  • Improving your credit score
  • Filing fewer insurance claims
  • Updating your roof, electrical, plumbing, or heating

Common Liabilities in Takoma Park, Maryland

When you own a home in Takoma Park, MD, there are always liabilities. Fortunately, your personal insurance policies can help shoulder the expense of a lawsuit brought against you or a household member. Take a peek at the most common ways to obtain liability protection:

If you have a substantial loss, your primary home policy's liability limits will apply first. Once that coverage is exhausted, your umbrella policy will kick in. Umbrella insurance is a separate coverage that has a minimal annual cost.

Property Crime Statistics for Homeowners in Takoma Park, Maryland

Property crimes occur everywhere, no matter which city you live in. To have adequate protection, you'll want a policy that covers a loss like this. Your homeowners policy automatically comes with theft and vandalism coverage. Take a look at the burglaries per 100,000 households below:

  • National average: 376.00
  • Maryland average: 312.60
  • Takoma Park average: 279.40

How a Local Agent Can Help Find Insurance in Takoma Park, Maryland

The right personal coverage can mean the difference between a claim being paid by the carrier or by you. When you're shopping for protection, there are various ways you can obtain insurance. A homeowners policy can be quickly and easily purchased through a local adviser.

An independent insurance agent can help with coverage and premium options because they work with multiple markets at once. They do the reviewing and comparing for you so that you can save time and money. Connect with a local expert on TrustedChoice to begin. 

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TrustedChoice.com Article | Reviewed by Jeffrey Green

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