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Instead of annual premiums, you will pay a deposit when your policy begins (the “inception” date). When you no longer need your policy, that deposit is returned to you, along with any additional deposits you make during the life of your policy. Your home, condo, or apartment is still protected from the unexpected, and every dollar you spend on coverage is still yours. 100%.

Although our company was founded more than 230 years ago, it’s still a well-kept secret — often shared among family members and friends. We’re thankful you’ve found us! Now we can share with you everything that makes a homeowners policy from Baltimore Equitable Insurance a savvy alternative to a traditional policy.

The Maryland Insurance Administration and AM Best (a national rating organization) conduct an annual review. They assess our company’s financial stability and ensure we have sufficient funds to cover losses and refund all deposits. We have enough to refund every deposit more than three times over. With the average policy holder maintaining their relationship with us for more than 20 years, our company is as strong today as it has been throughout our history.

Yes. You will need to increase your coverage amount when the cost to rebuild your home increases. You can augment your coverage with an additional deposit, which is 100% refundable when you no longer need your policy.

Currently, this isn’t an option. However, if you’d like to make an ACH payment (an electronic transfer of funds between banks), please use our Customer Portal. Alternatively, you can send your payment by mail. If you have any questions about payment, please call us at 410-727-1794, and our accounting team will be happy to help.

If you own expensive jewelry, fine art, or other costly items, you will want a separate “rider,” which is an addition to your policy’s coverage. Obtain an appraisal for those items, provide it to us, and we will determine an additional deposit amount to ensure you are covered in the event of loss. That additional deposit amount is 100% refundable when you discontinue your policy.

In addition to homeowners policies, we offer condominium unit owners policies, renters policies, and “landlord” policies for personally owned rental properties. We do not offer commercial policies.

No. Your deposit remains yours for the duration of the policy and until you cancel.

There are no cancellation fees or penalties.

Absolutely. If you ever want to cancel your policy, you can do so at any time without penalties, hidden fees, or hassles. Please send us your cancellation form (found with your policy) by email, fax, or mail. You can also contact us to request a cancellation form. We will promptly return your 100% refundable deposit.

The coverage pays the replacement cost minus depreciation. For example, a stolen 10-year-old computer is not as valuable as a new one. This contrasts with Replacement Cost, which pays to replace items at today’s prices.

What your policy protects and how much protection you have. A few examples include the Dwelling (the physical structure of your home), Other Structures (such as detached garages, fences, sheds), Personal Property Coverage (such as furniture, clothing, jewelry, electronics) and other types of coverage.

The amount you pay out of pocket before an insurance company pays the cost of the repair or replacement. For example, if you have a $1,000 deductible and $10,000 in damage, the policyholder pays the first $1,000 and the insurer pays $9,000. Deductible amounts can vary, so speak to your sales representative about the right amount for you.

Covers the physical structure of your home (roof, walls, etc.).

This is also called a “rider.” This add-on to your policy provides extra coverage for specific items (such as jewelry or artwork) or situations not covered by the base policy.

Circumstances that your policy doesn’t cover, which may include flooding, earthquakes, and wear and tear.

This protects you financially if you are legally responsible for someone else’s injury or property damage. For example, if a guest slips on your icy walkway, your policy may cover medical bills or legal fees. If you accidentally damage another person’s property, your policy may cover the cost of repairs or replacement.

If your home becomes unlivable due to a covered loss, coverage may pay for temporary housing, storage fees, meals, and other costs.

This covers structures not directly attached to your home, such as detached garages, fences and sheds.

This includes furniture, clothing, jewelry, electronics, and other personal property. Review with your sales team member for specific information.

With a traditional policy, the homeowner pays a certain amount (the premium) monthly or yearly to continue their homeowners insurance coverage. With Baltimore Equitable Insurance, there are no premiums. Instead, the customer pays a deposit that is 100% refundable when they no longer need their policy.

The coverage pays to replace items at today’s prices. This contrasts with Actual Cash Value, under which coverage pays the replacement cost minus depreciation.

This is also called an “endorsement.” This add-on to your policy provides extra coverage for specific items (such as jewelry or artwork) or situations not covered by the base policy.