Maryland Condo Insurance

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From the banks of the Atlantic Ocean in Ocean City to the outskirts of D.C., Maryland offers many options when it comes time for choosing where you’d like to purchase your condo. Whether it’s your primary residence or simply a weekend getaway from the grinding hustle and bustle, Maryland condo insurance offers the added protection that the complex’s HOA master policy just doesn’t.

Condo insurance in Maryland protects your condo’s four walls and most things inside if your unit is hit by a covered peril, such as a home fire or burglary. Plus, it helps to cover many other instances and protects more than you think — like your home’s appliances and even the clothes you keep in the unit.

Partnering with Clovered to get a quote could help you reduce your premium costs and find a policy that’s geared toward protecting your life and financial future — providing all the extras you need with none of the coverage you don’t.

What Does Maryland Condo Insurance Cover?

Personal Property

☘ Since it’s a walls-in policy, meaning only what’s inside the four walls of a condo are typically covered, an HO6 begins with coverage for personal belongings. This helps to protect items you keep inside your home, such as clothing, computers, furniture and TVs. Since condo owners don’t own the property outside their unit, belongings that are permanently kept outdoors may not be covered.

Loss of Use

☘ If a peril occurs that damages or destroys your condo, causing you to temporarily move out, loss of use can help to cover monthly rent at an equivalent home, storage fees, pet boarding and many other expenses you wouldn’t have incurred had you been living in your unit. Since your neighbors may not be as careful as you, loss of use is pivotal in protecting your wellbeing. 

Personal Liability

☘ If an accident occurs to a guest in your condo unit and you’re deemed liable, personal liability coverage can step in and help pay for medical bills and legal expenses for major incidents like dog bites, broken bones or even accidental death. For condo owners, personal liability is typically the highest amount of coverage you’ll maintain.

Medical Payments

☘ MedPay, as it’s often called, is similar to personal liability in that it covers injuries that occur on your property. But with medical payments coverage, only medical bills for minor injuries will be paid — no matter whether you’re at fault or not.

Loss Assessment

☘ If the condo’s master HOA policy maximums don’t pay for significant damages or incidents, each owner will have to pay a special assessment. This add-on protects policyholders from paying significant special assessment fees handed down by the condo complex.

Building Property Protection

☘ Condo insurance is a walls-in policy, so you don’t have to protect the building’s structure. But building property protection protects the walls and interior of your condo unit if they’re damaged or destroyed by a covered peril, which is important since you may have many neighbors.

What Does the Average Condo Insurance Cost in Maryland?

Condo insurance in Maryland is a whole lot cheaper than you may think. It comes in at just under $30 per month (or about $350 per year) for all the coverage you’ll likely need on your unit. This average comes with condo protection for your walls, appliances and personal belongings coverage for your items, plus so much more.

How to Get the Best Condo Insurance in Maryland

To get the best condo insurance in Maryland for the best price, all you need to do is get a quote online from our multi-rater platform. It compiles quotes from many different companies in the state to provide you with the exact policy that fits your needs. We’re talking about all the coverage you need (and don’t know you need) at a price that’s within your budget.

A Simpler Way to Get Condo Insurance

Protect everything your condo association doesn't with a custom condo insurance policy at an affordable price.

The editorial content on Clovered’s website is meant to be informational material and should not be considered legal advice.