Home Insurance in Laurel, MD
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Welcome Home to Laurel, MD
Laurel, MD, is home to 28,574 residents settled on the scenic banks of the Patuxent River. Located halfway between Baltimore and Washington D.C., locals enjoy the quiet charm of the suburbs within convenient distance of two metropolitan areas.
Laurel has a long, diverse history and continues to feature charming historical landmarks and architecture. Find yourself venturing into Maryland's past with a visit to the Montpelier House Museum and Arts Center. Along with historical artifacts, downtown Laurel features beautiful traditional homes, restaurants and boutiques. As you settle into Laurel, you'll want to protect your assets with reasonably priced home insurance in Laurel, MD.
The Cost of Home Insurance in Laurel, MD
The median property value in Laurel is about $296,300. Without home insurance, inclement weather like heavy snowfall, wind or rain can damage your home and you are responsible for it. On average, Laurel residents can protect their homes for about $1,210 annually. While this price is lower than the national average, your specific policies and circumstances will determine your overall cost.
The Basics of Home Insurance
A standard home insurance policy should cover your home if you need to repair or replace your home or contents because of damage. Home insurance typically covers damage resulting from theft, vandalism, fires or weather events. Coverage includes your home's structure, your belongings like furniture and clothing, outbuildings and heating and cooling systems.
However, insurance may not cover mold, termites, floods or damage from lack of maintenance. When choosing a home insurance policy, you can always add extra coverage based on your needs.
The Factors Behind Home Insurance Prices
Every person's home insurance policy is different. What you need may not be the same as comparable homes in your city. While VIU by HUB can help you compare insurance prices, several factors will influence the cost.
House Quality
Your building materials and your home's age contribute to the price of home insurance in Laurel, MD. Your home must withstand frigid temperatures, high winds, rain and hail. Homes updated to modern standards tend to have lower rates.
Insurance Claim History
Insurers are wary of clients who file multiple claims over a few years. If you have a lengthy claims history, an insurer may see you as a higher risk. Likewise, if the former owner of your home filed many claims, it may determine the risk status of your dwelling.
Crime Rate
Insurance companies research the odds that you or your home may become the victim of a crime. Fortunately, Laurel is a small community with a low crime rate. In fact, Laurel, MD, is considered safer than 9% of other U.S. neighborhoods. The lower the crime rate, the lower your rates may be.
Attractive Nuisances
Do you own a trampoline, hot tub or swimming pool? Home insurance calls these assets attractive nuisances because they may entice children to your property, where they could hurt themselves. Some insurance companies will increase your rates if you have an attractive nuisance because of injury risk.
Pets
If you own pets, particularly dogs, this can impact your rates. Some insurance companies pay attention to dog breeds. If you have certain breeds, you may pay more or may be ineligible for coverage through different companies. Generally, this is due to dog bite risk.
Finding home insurance in Laurel, MD, requires comparing various rates to ensure you remain within budget and find policies that suit your specific circumstances. At VIU by HUB, we can help you compare insurance rates from various providers and find something fitting.
This information is intended for general informational purposes only and is not intended to constitute legal advice.