Maryland Home Insurance
Maryland homeowners know that being located near the Atlantic Coast, their state and homes are at risk for some serious flooding. In fact, the Maryland Insurance Commissioner recently advised all Marylanders to consider purchasing flood insurance and to remember standard homeowners insurance policies do not cover damage from rising water. According to the insurance commission, only 3% of Maryland's households have flood insurance, even though 119 communities in the state participate in (and are qualified for) the National Flood Insurance Program. As a homeowner in Maryland, you may want to seriously consider purchasing additional flood insurance, especially since the Director of the National Hurricane Center is calling for a "very active season" in 2006.
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One thing to remember when purchasing your flood insurance is that is takes 30 days from the day you purchse your policy to get into effect. The sooner you request a rate quote for more comprehensive coverage, the better! One of the first steps you may want to take when shopping for additional coverage is to review your current homeowners insurance policy so you know exactly what is and what is not covered. For example, the most common policy – called the HO-3 or Standard Policy – will have you covered in the event of theft, vandalism, or fire, but not for major storm damage like flood or high wind damage.
You can never underestimate the importance of being well-informed when purchasing your homeowners insurance – the more you know, the safer you can feel knowing one of the biggest investments you'll make is protected from life's unexpected emergencies.
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Home Insurance Basics is not an insurer and cannot issue home insurance policies. This site provides free information about home insurance policies and companies. The companies detailed have not endorsed or sponsored these pages. Products and services may not be available in all states.
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