Even though the state of Maryland does not require homeowners to purchase homeowners insurance, if your home is financed then your mortgage holder will force you to buy homeowners insurance. Just keep in mind that while your mortgage company may have the legal right to require you to buy and maintain homeowners insurance, it does not have the right to tell you which insurance policy you must buy or from which insurance company.
This means you are free to get online and compare different policies and their prices head-to-head until you find the absolutely best deal on homeowners insurance here in Maryland.
Before you jump online and start filling out forms there are a few things you might like to know that can help to keep your rates even lower.
First, your policy needs to be large enough to cover the true replacement cost of your home and its contents in the event that you need to rebuild everything from the foundation up in todays dollars.
The only way you can know for certain what the replacement cost of your home is is to talk with a local contractor or a knowledgeable real estate agent and then take out a policy that covers the full replacement...
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