Maryland High Risk Homeowners Insurance

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High Risk Homeowners Insurance In Maryland

Maryland is a state in the Mid-Atlantic region of the United States, not a city. It's bordered by Pennsylvania to the north, Delaware to the east, and Virginia, West Virginia, and the District of Columbia to the south and west. Maryland's varied topography within its borders contributes to its nickname "America in Miniature." This includes areas from sandy dunes dotted with seagrass in the east, to low marshlands teeming with wildlife and large bald cypress near the Chesapeake Bay, to gently rolling hills of oak forests in the Piedmont Region, and mountain pine groves in the western Maryland. The state's largest city is Baltimore, and its capital is Annapolis.

Historically, Maryland was founded as an English colony in 1632 by Cecil Calvert, the second Lord Baltimore. Maryland was the seventh state to ratify the United States Constitution, and played a pivotal role during the War of 1812 against the United Kingdom, particularly during the Battle of Baltimore which inspired the lyrics of the U.S. national anthem, "The Star-Spangled Banner."

With the varied landscapes, the types of risks in Maryland that are likely to cause home insurance losses include:

Natural Disasters: Maryland's geography makes it susceptible to various natural disasters:

Hurricanes and Tropical Storms: Due to its coastal and bay-fronting counties, Maryland can experience significant wind and flood damage from hurricanes and tropical storms. These can lead to widespread property damage, especially in coastal areas.

Flooding: Apart from storms, Maryland is prone to flooding, particularly in low-lying and coastal areas. This can be exacerbated by heavy rains, snowmelts, and storm surges.
Winter Storms and Blizzards: Maryland experiences cold winters, especially in its western parts. Heavy snowfall can cause roof collapses, burst pipes, and other property damage.

Tornadoes: While not as frequent as in other parts of the United States, Maryland does experience tornadoes, which can cause localized but severe damage.

Human-caused Risks: These include fire, theft, vandalism, and other risks associated with urban areas, particularly in cities like Baltimore. These risks can vary significantly depending on the specific location within the state.

Some of the largest events in Maryland in recent years that have led to a large volume of home insurance claims include:

Hurricane Isabel (2003): This hurricane caused significant damage in Maryland, especially in coastal areas, leading to billions of dollars in damage and a large number of insurance claims.

Tropical Storm Lee (2011): This storm brought extensive rainfall, leading to severe flooding throughout the state, particularly along the Susquehanna River.

Blizzards of 2009/2010 (Snowmageddon): These back-to-back blizzards caused extensive property damage across the state, including roof collapses and burst pipes, leading to a high volume of insurance claims.
Ellicott City Floods (2016 and 2018): Historic Ellicott City experienced two devastating flash floods that caused significant property damage and led to numerous insurance claims.

These events highlight the range of risks faced by homeowners in Maryland, influencing the cost and coverage of home insurance policies in the state.
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Unable to Obtain Coverage?

Many consumers opt to allow their mortgage companies to add “force placed” or “lender placed” coverage to their homes. The unfortunate issue is that many times the mortgage companies do not make it clear that typically these policies  do not cover your personal property, loss of use or even your liability. They are typically insurance policies that the consumer pays for, that mostly benefits a bank and not them. It is without a doubt that mortgage forced policies are the lease safe option in the market.

Since FAIR Plans are considered the market of last resort, consumers will be best served when they find an agent with the experience in high risk insurance as well right resources and carriers. Ultimately the end goal is to obtain the right coverage at a competitive price and with the right agent that can be accomplished in almost any situation.
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**The contents of this website are provided for informational purposes only and do not constitute legal or coverage advice or an offer or solicitation for the sale or purchase of insurance. If you submit a request for a quote you will be contacted by a licensed agent who can discuss coverage options with you. Consumers are urged to try to find coverage in the private market and we can help you find an agent that can help you find alternatives to the FAIR Plan and other high risk plans. This website is no way affiliated with or sponsored or endorsed by any federal, state or local governmental agency or state fair plan. Insurance coverage not available in all states. **
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