BALTIMORE RENTERS INSURANCE
Baltimore renters insurance is not something you expect to use, but it is also not something you want to be without. Why? Because, in the case of any natural disaster, theft, fire or any other unexpected incident in your rental home, Baltimore renters insurance will cover you for lost property, loss of use and liability. And, for only cents a day, renters insurance will not set you back. In a thriving city like Baltimore, it is best to be prepared for anything and everything. Luckily, preparing is quick, easy and free. You can get free renters insurance quotes through this website to find cheap renters insurance.
Baltimore Renters Insurance and Baltimore Cost of Living Prices
Many people will wonder how much renters insurance costs when shopping for renters insurance quotes. With a population of nearly 700,000, Maryland's capital is certainly putting this sleepy state on the map. Baltimore is home to several different Universities, tourist and local attractions, outdoor recreation and sports teams. It has over 200 different neighborhoods to explore and rent in which means there is an abundance of great places to settle down in. Furthermore, there are a number of apartment complexes going up in Baltimore which means even more options for renters. The Inner Harbor, Federal Hill and Bolton Hill are great places to start your search for your next rental home.
You can expect to pay an average rent of $650 per month for an apartment in Baltimore but there are plenty of neighborhoods where you can find a lovely apartment for $500 to $600 per month . Furthermore, some of the luxury townhouses and condominiums in the swanky districts can start at $2000 per month. It all depends on what you are looking for. The cost of living in Baltimore is 3% above the national average and almost 43% of the Baltimore population are currently renting .
Maryland has one of the nation's lowest renters insurance rates with only $160 per year . Baltimore renters insurance is usually around this rate as well and most renters will only pay about $14.00 per month to protect their belongings from any disasters they may encounter while renting.
Why Baltimore Renters Insurance
The main reason to get Baltimore renters insurance is because it is extremely affordable. For less than 40 cents a day, you are protecting your belongings and your family. Another excellent reason to opt for Baltimore renters insurance is because of the protection it offers. Many renters looking for renters insurance in Maryland are surprised to learn that, in the case of an incident, their belongings are not protected under the landlord's policy. Although the damage to the apartment, townhouse, condo, loft or other rental unit will be paid for, your personal property and belongings will not. This includes your stereo system, your furniture, your television and computer, your children's toys, your clothing and your jewelry.
Another reason to get Baltimore renters insurance is because you never know what could happen. With the rapid change in seasons in Baltimore, more and more people are succumbing to electrical fires during those hot summer months, plumbing problems during those cold winters and unexpected damages throughout the year. Baltimore renters insurance will cover you in these instances.
Furthermore, you cannot control what your neighbors are doing. If they happen to leave a burner on or accidently let the bath tub overflow and the damage comes into your apartment, you will still be covered and compensated for your losses through Baltimore renters insurance.
Keep in mind that, when it comes to selecting Baltimore renters insurance, there are several different options. Most quotes will be based on your property protection which means that if your belongings are damaged due to a natural disaster, theft, riot, accidental fire or any other incident, that you will be compensated for your losses. There is also loss of use tenants insurance which may be a little bit extra but will compensate you for living expenses if you cannot continue to live in your home. Loss of use coverage is critical for anyone as it ensures you will not be left out in the rain without a place to stay or the funds needed to continue on. There is also liability coverage which will protect you in any legal situation if someone gets hurt on your property. For those with young families or dogs, liability insurance is a very good option.
Top Tips to Save on Baltimore Renters Insurance
• Make sure you insure for your lifestyle. Many senior citizens will take out a higher policy limit in order to ensure their valuables that they have collected over the years while a college student might have a lower policy limit as he may only be insuring his computer and a few personal belongings. On average, a family should look into $30,000 worth of personal property insurance. Always check to see if there are limits for certain categories. You may need to pay for additional coverage if you are an avid collector of a certain item.
• Understand and consider ‘cash value' versus ‘replacement value'. Many people are unaware that there is actually a difference between them, or that they have this option when purchasing renters insurance. So what is the difference? Cash value is the most common type and means that the coverage company will subtract an amount for depreciation and wear and tear from the value of your possessions before paying for the claim. Here is an example - let's say your five year old couch is damaged in a plumbing accident. The company will compensate you for a five year old couch which will be less than what you paid for it and often not enough to purchase a new couch like it. Replacement value, on the other hand, pays the full cost of replacing your possession, minus your deductible and up to your policy's dollar limit. To get replacement value coverage, you may have to pay a higher premium but, in most instances, it will save you the headache when filing a claim.
• To make the process a lot easier, grab a camera and a paper and pen and do a quick check over of all your possessions in the house. Take a photo of each room and store your checklist and photography in a safe area outside of the room. This will make it a lot easier to replace and claim renters insurance if you ever need to.
• Always do a simple comparison of Baltimore renters insurance. You know the average of what renters are paying for their insurance premium - now it is up to you to find that perfect carrier for you. This is a lot easier than most people think. Simply put in your Baltimore zip code and a comparison wizard will do the work for you. You will be offered several policies and quotes on your computer screen in a matter of seconds. There is no need to meet with sales agents or sift through dozens of coverage brochures. You can compare prices and policies in the comfort of your own home.
Although no one purchases Baltimore renters insurance expecting to use it, it is an important thing to have, just in case. The last thing you want to do is worry about replacing your contents after a freak storm or theft. With Baltimore renters insurance and for less than $5 per week, you can focus on continuing your life without worrying about compensation.
Request a comparison from leading Maryland insurance companiees today. Our service provides free renters insurance quotes throughout the Baltimore, Maryland areas of: Aberdeen, Adelphi, Arbutus, Arnold, Aspen Hill, Ballenger Creek, Bel Air, Bel Air North, Bel Air South, Beltsville, Bethesda, Bowie, Brooklyn Park, Calverton, Camp Springs and more...
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