This is a common question we encounter from home owners, and the answer is both simple and not so simple. The fact is that home insurance is not required by Maryland state law. However, if you have a mortgage or are about to take on the responsibility of a mortgage, then your lender may very well insist on a home insurance policy. The mortgage company is lending you money and they want to protect their investment, so they expect the home owner to maintain home insurance. This really protects everyone involved. Serving the Millersville, MD area, our agents at Bay Point Insurance, LLC, can assist you with your home insurance policy.
If your mortgage is paid off, then there is no further requirement for you to maintain home insurance. However, after having fulfilled the terms of your mortgage, built up equity, and experienced years of memories in that house, do you really want to risk losing it all in an accident? For home owners without a mortgage, home insurance becomes a matter of simple common sense. Insurance is designed to aid in recovering and rebuilding after an accident and to protect your financial health following an event like fire or theft. Home insurance is an investment in home and family protection. At Bay Point Insurance, LLC, our agents are ready to help you. Whether you’re ready to choose your first home owner’s insurance policy or need to review the one you already have, we can answer your questions about what home insurance coverage is available in the Millersville, MD area. We can help you maintain reliable coverage that protects your investment as well as your peace of mind. Come in or call us today.