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1290 Bay Dale Dr., #278
Arnold, MD 21012

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Renters Insurance in Maryland

If you live in an apartment or rent a home, you might think that you don't need insurance on your property. After all, that's the landlord's responsibility. However, that logic is only partially correct. The landlord's insurance covers the building, but not your personal items, such as your clothes, furniture, artwork or kitchen items. For those items to be protected from theft or damage from fire, water or an act of nature like a tree falling on your living space, you need to have renters' insurance.

What is renters' insurance?

Renters' insurance, as the name implies, is designed to protect the personal belongings of those people who rent, rather than own, the places where they live. In most cases, such policies also include liability insurance, which will protect a tenant should someone injure themselves while in the policy holder's apartment or rental unit, as well as provide funds for living expenses should the apartment or rental unit become uninhabitable for a covered reason, such as a fire or fallen tree limb. Renters' insurance is usually much less expensive than homeowner's insurance.

When deciding how much renters' insurance to purchase, it's a good idea to make an inventory of your personal property, accompanied by receipts and photographs, if possible. Keep in mind that most policies have a (relatively low) cap on how much the company will pay out on certain, high-ticket items, such as artwork, jewelry, antiques, and silver. To insure those items at their full value, you may need to purchase a rider (a policy just for those individual items).

To learn more about keeping your property protected in your Maryland apartment or rental home, contact SG Insurance Agency LLC in Arnold, MD. We've been helping area renters like you for more than a decade.