When you have moved out of the family home and are living independently in Maine, home insurance suddenly becomes a priority to protect your assets. Even if you are only renting, you still need insurance to protect your belongings from theft, fire and other disasters.

Renters’ insurance also provides liability coverage in case someone decides to take out a lawsuit against you because of harm or injury sustained at your home. Taking out renters’ insurance also enables you to establish a good insurance record, which may come in handy if you decide to buy a home later on and you need to purchase homeowners insurance.

Once you do decide to buy a home, the type and cost of your insurance will depend on various factors, including property size, building type and quality. Other factors include your proximity to disaster zones and to the coast, the cost of rebuilding, and the safety and security of your property. Should you buy a condominium the Condo Board will probably be responsible for insuring common areas and in some cases your apartment up to a basic level, while you will need to buy insurance to cover improvements, modifications and your personal possessions.

The important thing is to ensure that you have adequate Maine home insurance to provide financial protection in case of damage or loss. Speak to an insurance agent if you need help finding the best home insurance or renters’ policy for your needs.