Maryland Renters Insurance

Are you looking for renters insurance in Maryland?

A renters insurance quote from the GEICO Insurance Agency can help protect you and your possessions.

If you're renting an apartment in Rockville, Baltimore, or anywhere else in Maryland, renters insurance can help protect your possessions if they're damaged or stolen. In some cases, your landlord may require you carry renters insurance as a condition of your lease. Renters insurance may also provide protection if a guest is injured in your apartment.

Renters insurance doesn't just apply to apartments. You may need renters insurance in Maryland if you rent a:

• Condo on the water in Annapolis
• House in historic Frederick
• Townhouse on the beach in Ocean City

What is covered by renters insurance in Maryland?

Renters insurance in Maryland can help you if:

• Your apartment building has a fire and your personal items are damaged or damage to your apartment leaves you with no place to live.
• A thief breaks into your apartment and steals your laptop, cell phone, or flat screen TV.
• A visiting guest slips and falls in your apartment and decides to sue you for his injuries.

Without renters insurance coverage, you'd be responsible for replacing your personal items even if their loss isn't your fault. The cost to replace your clothes, laptop, and furniture out of pocket may be substantial.

Additional coverages for renters in Maryland 

A standard renters insurance policy offers essential protection for your personal belongings, but some items and situations may need a bit more coverage. GEICO provides several additional insurance options that can help Maryland renters better protect their valuables and finances, such as:

• Jewelry Insurance: High-value items like engagement rings, watches, and family heirlooms may exceed the coverage limits of a basic renters policy. Jewelry insurance provides added protection against theft, loss, and damage.
• Bicycle Insurance: Whether you ride for fun, fitness, or daily commuting, bicycle insurance can help cover theft, vandalism, or damage to your bike, on the road or while it’s stored.
• Umbrella Insurance: If a liability claim exceeds the limits of your renters policy, umbrella insurance offers an extra layer of protection. It’s a smart option if you want broader coverage for things like major accidents or lawsuits.

How much does renters insurance cost in Maryland?

The premium you will pay for renters insurance coverage in the state of Maryland depends on the types and amounts of coverage you choose to buy and what deductibles you select. Our personal property calculator can help you customize your renters insurance policy with what works for you based on your personal belongings. You can also create a virtual inventory list using our Personal Property Scanner in our app-GEICO Mobile. Then, check out how you could save with renters insurance discounts in Maryland. You may be surprised at how affordable a renters policy can be!

What factors impact renters insurance costs in Maryland?

Renters insurance in Maryland is generally affordable, but your exact rate depends on several key factors:

• Location: Living in a high-crime area or a region prone to natural disasters (like coastal flooding) can increase your premium.
• Coverage Limits: The more coverage you choose for personal property, liability, and additional living expenses, the higher your rate will be.
• Deductible Amount: A higher deductible usually lowers your premium, while a lower deductible increases it.
• Credit-Based Insurance Score: In Maryland, insurers may use your credit-based insurance score to assess risk and help set your rate.
• Claims History: A history of frequent insurance claims can raise your rate, while a clean record can keep your premium lower.
• Safety Features: Living in a rental with smoke detectors, security systems, or sprinkler systems may earn you a discount.

Discounts to save on renters insurance in Maryland

Looking to save on your Maryland renters insurance? You may qualify for discounts on your policy through GEICO Insurance Agency, including: 

• Multi-Policy Discount: Bundle your renters insurance with a GEICO auto policy to save more on your auto insurance.
• Home Security System Discount: Having a monitored security system in your apartment or rental home can help deter theft and may earn you a discount on your premium.
• Smoke Alarms and Sprinklers Discount: Rentals equipped with smoke detectors, fire extinguishers, or sprinkler systems are considered lower risk, which can lead to additional savings.

Other reasons to have renters insurance in MD

While you may not be required by Maryland law to have renters insurance, your landlord may require it and it can be a good way to help protect you and your possessions.

Here are a few more reasons to consider renters insurance:

• Theft: Rental units are prime targets for theft and building security may not protect against unwanted intruders.
• Fire and Smoke Damage: Although your landlord's insurance might replace the carpet, it won't replace your furniture. Renters insurance can cover items damaged by fire, smoke, and other situations.
• Water Damage: Similar to fire and smoke damage, your renters insurance may cover items caused by certain types of water damage.
• Temporary Living Expenses: If your apartment is damaged due to a covered loss, you may need to find a place to stay. Some policies include coverage for hotel expenses if you can't use your apartment.
• Liability Protection: Renters insurance can cover injury to another person on your property. It may also include medical payments coverage that pays for expenses of people who don't live with you, but who are injured in your apartment.
• Inexpensive: Renters insurance can be very affordable, especially for people renting their first apartment. Different deductible levels can raise or lower the cost of your premium—consider what deductible you want to have. Higher deductibles can lower the cost of insurance, but consider how much you're willing to pay as a deductible if you were to have a claim.

Renters insurance is worth looking into to protect you and your possessions and could save you thousands of dollars--all for a lot less than you might think. Get a free Maryland renters insurance quote and get covered today.