Renters insurance is often overlooked by tenants when considering financial security. After all, the roof over your head seems like enough security, right? The truth is, Maryland's rental landscape has its own quirks and nuances that make having a solid renters insurance policy extra prudent. Let's explore why renters insurance in Maryland is not just a luxury but a necessity for renters in the Old Line State.
Renters
insurance is a policy that protects tenants and their personal belongings in
the event of a covered loss. It typically includes coverage for personal
property, liability, and additional living expenses (ALE) if you're temporarily
displaced from your home due to a covered peril.
In Maryland,
as in most states, renters insurance is not legally mandated. However, many
landlords require tenants to have a policy as a condition of their lease. Don't
be caught unprepared — familiarize yourself with the basics before you start your
apartment hunt.
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