Credit $marts –––––

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Credit$marts

––––––

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What we offer

Free Tax Preparation

Financial Education

Workshops/Conferences

Benefits Screenings

Financial Coaching &

Planning Program

Financial Fitness Fairs

Maryland CASH

Academy

Advocacy and Policy Bank On Maryland

©2019CreditBuildersAlliance,Inc.Somerightsreserved.

Why is Credit Important?

Interest Rates Down Payments

Non-credit

Loans

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Cost of Credit Score

$305,000housewith20%down=Mortgageof$244,000

©2019CreditBuildersAlliance,Inc.Somerightsreserved.

Consumer Access to

Credit Reports

Step 2:

Know the Score

Free Credit Monitoring!Free Credit Monitoring!

 www.annualcreditreport.com: One free

report each year from each of the three

major credit bureaus.

MD law also allows free report per year

COVID 19 = Free reports weekly

©2019CreditBuildersAlliance,Inc.Somerightsreserved.

Credit Scores

A number based on the analysis of

an individual’s credit report that

represents their creditworthiness.

• Same info in a report used

• 3-digit number

• Helps lenders efficiently judge

creditworthiness

©2019CreditBuildersAlliance,Inc.Somerightsreserved.

What is a Good Score?

Note: Based on FICO® Score ranges and distributions. As there is no one score and ranges are not

static, what is a “good score” depends on the lender/ business as well as overall consumer

performance at any given time.

Fair credit

(near-prime)

Fair credit

(near-prime)

©2019CreditBuildersAlliance,Inc.Somerightsreserved.

Fair Isaac Corporation

Step 2:

Know the Score

SOURCE: FICO

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How to Access Credit Scores

 Some financial institutions, credit card issuers,

credit sites (Credit Karma), nonprofit credit and

financial counseling programs

 Resource: CFPB list at bit.ly/CFPB_FreeScores

 From annualcreditreport.com, myfico.com,

individual credit bureaus, and lenders, if used for

underwriting

POPQUIZ:Isthescorerequiredtobefreetoconsumers?

Ifapersondoesnot

have credithistory

• Smallloanorcreditcardaccount

withacreditunion:Creditunions

maybemorewillingtotak eariskon

someonewithnocredit.

• SecuredCreditCard: Adeposit

(typicallyaround$200)tobackup

payments.

ThisPhoto byUnknownAuthorislicensedunderCCBY‐NC‐SA

©2019CreditBuildersAlliance,Inc.Somerightsreserved.

Keep it Active! Establish and maintain a mix of at

least three active installment and revolving credit

products – ALWAYS PAY ON TIME!

Keep it Low! Lower debt balances on revolving lines

of credit.

Keep it Up! You want at least six months of credit

history -- and activity! -- on your credit report at any time.

Review! Best Practices for Strong Credit Scores

©2019CreditBuildersAlliance,Inc.Somerightsreserved.

In just 6 – 12 months:

Someone with no score who adds installment loan

of $100 and pays it on time can be in the near-

prime to prime range!

A scored consumer with a low score may see an

increase of 35 points!

©2019CreditBuildersAlliance,Inc.Somerightsreserved.

Thank you!

Questions?

www.mdcashacademy.org

Sue Rogan, AFC®

[email protected]

Understanding Mortgage Loans During

the Homebuying Process –

Lunch & Learn Webinar (Maryland Insurance Administration)

Meredith Merchant,

Assistant Commissioner, Consumer and External Affairs

Maryland Office of Financial Regulation

December 7, 2023

Office of Financial Regulation

The views expressed in this presentation are those of the presenter(s) alone and do

not necessarily reflect the position of the Commissioner of Financial Regulation or the

Secretary of the Maryland Department of Labor.

This presentation contains general information only, and is not legal or financial advice.

About OFR

The Office of Financial Regulation (OFR) makes sure

financial institutions and businesses or individuals that

provide financial services are:

 Treating Maryland consumers fairly.

 Operating in a fiscally sound manner.

 Following state laws and regulations.

The financial institutions and financial service providers regulated by

OFR include, but are not limited to*:

• Lenders that issue or service mortgage loans, personal loans, vehicle

loans, or installment loans.

• Check cashing and money transmission services.

• Collection agencies and credit reporting agencies.

• Debt management and credit repair businesses.

• Sales financing companies and student loan servicing companies.

• Banks, credit unions, and trust companies chartered in Maryland.

*See Regulated Industries and Activities on our website for a more extensive

list of the financial services under OFR’s jurisdiction.

Who We Regulate

Know “who” you’re talking to:

• Mortgage lender – Any business that makes a mortgage loan.

• Mortgage loan officer/originator (MLO) – An individual who, for a fee or

compensation, takes a loan application and/or negotiates the terms of a

mortgage loan.

• Mortgage broker – A business that, for a fee or compensation, assists a

borrower in obtaining a mortgage loan and is not named as a lender in the

agreement.

• Mortgage servicer – A business that collects or otherwise receives

payments on mortgage loans directly from borrowers for distribution to any

other person or company.

See labor.maryland.gov/finance/industry/mortlend.shtml

Mortgage Terminology

Know mortgage loan characteristics:

• Principal – The amount of money borrowed.

• Interest rate – What the lender charges for borrowing money, usually

expressed as a percentage of the principal; interest rate is included in the

monthly payment.

• Annual Percentage Rate (APR) – Total cost of borrowing money; includes

the interest rate, points, and/or fees.

• Fixed vs. Adjustable Rate Mortgage (ARM) – The interest rate remains the

same over time for a fixed-rate mortgage; for ARMs, the interest rate

changes periodically, depending on the loan agreement and index rate.

• Loan Term – How long the borrower has to repay the loan, pursuant to the

provisions in the loan agreement.

NOTE: This is a basic list of potential loan characteristics and not exhaustive.

Mortgage Terminology (cont’d)

An escrow account is used to pay certain property-related expenses,

like property taxes, homeowner’s insurance, and private mortgage

insurance (if applicable).

• Escrow accounts are required for some loan types and are set up by the

mortgage lender. Borrowers can request voluntary escrow accounts.

• Escrow analyses are conducted annually by the mortgage servicer to ensure

adequate funding; the borrower receives a copy of the analysis.

• Private Mortgage Insurance (PMI) – Insurance (paid by borrower) to

protect the lender in the event the borrower defaults on the loan; typically

required by lender for loans with a down payment less than 20% of

purchase price.

What is an Escrow Account?

Understand the Documents

Some of the loan-related documents include:

• Prequalification Letter – Lender estimate of the loan amount a borrower

may be approved for; based on unverified info from borrower.

• Preapproval Letter – Lender estimate of the loan amount a borrower may be

approved for; based on info from borrower and verified through credit check.

 Some lenders use “prequalified” and “preapproved” interchangeably.

• Loan Estimate – Standard document with important details about the loan

and loan costs (terms, interest rate, payment, fees and charges, escrow, etc.);

can be used to compare different loans; required for most mortgages.

• Closing Disclosure – Standard document with final details about the loan

and loan costs; required for most mortgages and must be given to borrower at

least 3 days before closing.

NOTE: This is a simplified list of documentation provided to the borrower during

the mortgage loan origination and closing process; it is not exhaustive.

First, a little preparation:

• Save what you can for down payment, and extra for unplanned expenses.

• Know your budget and credit profile.

• Gather paperwork (proof of income, account statements, tax returns, etc.)

Then, time to shop around:

• Identify potential lenders – ask for recommendations from trusted professionals.

• Contact at least three lenders, which may or may not include your own bank or

credit union.

• Talk with their loan officers, discuss your needs and obtain preapproval letters;

request Loan Estimates if you choose to move forward.

• Compare Loan Estimates and determine which is best for your situation.

Exploring Your Options

• Maryland has many nonprofit agencies that directly assist consumers

who are in need of legal or financial advice related to credit, debt,

loans, or other financial products.

• First-time homebuyers may work with a nonprofit housing counseling

agency that offers pre-purchase homebuyer education classes

and one-on-one financial counseling sessions.

You may even get a discount on your loan costs!

• Use a housing counseling agency approved by the U.S. Department

of Housing & Urban Development. Search for one near you at:

hud4.my.site.com/housingcounseling

Don’t Go it Alone!

• Make sure your mortgage loan officer or broker has a current Maryland

license (visit labor.maryland.gov/finance/industry/licsearch.shtml).

• Be wary of unsolicited calls from unknown persons saying they are with your

lender or settlement company – always confirm before giving out sensitive

information by calling the lender or company directly, using the phone number

on your documents.

• Do not email sensitive financial information without encryption. Lenders

should have secure, encrypted email or password-protected portals.

• Watch out for “phishing” scams, in which fraudsters impersonate your loan

officer, broker, lender or settlement company. Examine unsolicited emails

carefully, and refrain from clicking on unknown links. Be especially wary of

those that ask you to input financial information until you confirm the source.

Avoid Mortgage Scams

Consumer complaints help OFR enforce Maryland's consumer

financial protection laws

 Submit a complaint to OFR if you have a dispute with your mortgage

company that you’ve been unable to resolve (or with any other

company/individual regulated by OFR) or submit a complaint to report

allegations of fraud or other illegal activity. OFR will investigate your

complaint and take additional action if deemed necessary.

 Email the Consumer Services Unit at [email protected] for

assistance or to determine whether the subject of a complaint falls under

OFR’s jurisdiction.

 Visit OFR’s website to submit a complaint electronically or use the PDF

form. See Consumer Complaints and Inquiries.

Consumer Complaints

The Consumer Financial Protection Bureau (CFPB) has easy-to-

understand information on their website about mortgages and buying a

home. See these pages on CFPB’s website to learn more:

• consumerfinance.gov/owning-a-home

• consumerfinance.gov/consumer-tools/mortgages

To learn about Maryland’s first-time homebuyer programs, visit the

Maryland Dept. of Housing and Community Development website at

dhcd.maryland.gov.

To learn more about the Maryland Office of Financial Regulation and

access consumer resources or submit a consumer complaint, visit our

website at labor.maryland.gov/finance.

Resources

OFFICE ADDRESS

1100 North Eutaw Street, Suite 611

Baltimore, Maryland 21201

MAIN PHONE NUMBER

(410) 230-6100

GENERAL E-MAIL

[email protected]

OFR WEBSITE

www.labor.maryland.gov/finance

Office of Financial Regulation

QUESTIONS OR COMPLAINTS

Consumer Services Unit

410-230-6077

[email protected]

HomeownersInsurance:

UnderstandingtheBasics

Thispresentationdoesnotprovidelegaladvice.

Youshoulddiscussspecificquestionswithyour

trustedfinancialadvisororinsuranceproducer.

WhatistheMarylandInsuranceAdministration

TheMarylandInsuranceAdministration(MIA)isthestateagencythat

regulatesinsuranceinMaryland.TheMIA:

• Licensesinsurersandinsuranceproducers(agentsorbrokers).

• Examinesthebusinesspracticesoflicenseestoensurecompliance.

• Monitorssolvencyofinsurers.

• Reviews/approvesinsurancepolicyforms.

• Reviewsinsuranceratestoensureratesarenotinadequate,

excessiveorunfairlydiscriminatory.

• Investigatesconsumerandprovidercomplaintsandallegationsof

fraud.

Video:HowtheMIACanHelp

WhatistheMarylandInsuranceAdministration?

Ifyoufeelthatyourinsurerorinsuranceproduceractedimproperly,youhavetherighttofile a

complaint.Examplesofimproperactionsinclude:

• Improperlydenyingordelayingpaymentofallorportionsofaclaim;

• Improperlyterminatingyourinsurancepolicy;

• Raisingyourinsurancepremiumswithoutpropernotice;

• Makingfalsestatementstoyouinconnectionwiththesaleofinsuranceorprocessingof

insuranceclaims;and,

• Overchargingyouforservices,includingpremiumfinancecharges.

Whatishomeownersinsurance?

Homeownersinsurancecanhelpyoumanagethefinancialrisksof

homeownership.Homeownersinsurancemay:

• Helpyourecoverfinanciallyfollowingacoveredlosstoyour:

a.Dwelling

b.PersonalProperty(contents)

c.OtherStructures

• Mayprotectyoufinanciallyifsomeoneishurtortheirpropertyis

damagedbecauseofsomethingyoudidorsomethingthat

happensonyourproperty byprovidingliabilitycoverageand/or

pa yingformedicalpayments.

Whatarethebasicpartsofahomeownersinsurancepolicy?

Thetermsandamountofcoverageforaparticularlosswilldependuponthetermsofyourpolicy.Generally,homeownerspolicies

includethefollowingparts:

• DwellingCoverage–providesprotectionifacoveredperildamagesordestroysyourhome.

• OtherStructures– providesprotectionifacoveredperildamagesordestroysdetached

outbuildingsandstructures,likefences,

thatarenotpartofyourdwelling.

• PersonalProperty(contents)–providesprotectionifyourpersonalpropertyislost,damagedordestroyedbyacoveredperil.

• AdditionalLivingExpenses(ALE)–maypayforadditionalexpensesyouincurwhenyoucannotliveinyourhomebecauseof

damageorlossthatiscoveredbyyourpolicy.Generally,coveragewillonlypayforlivingexpensesthatarenot“normaland

customary”.

• LiabilityCoverage–mayprovideprotectionifyouoramemberofyourfamilyarelegallyresponsibleforaninjurytoanother

personorcausedamagetoanotherperson’s

property.Liabilitycoveragegenerallypaysforattorney’sfeesandanysettlement

amountuptopolicylimits

• MedicalPayments–providespaymentuptoaspecifiedamountforreasonableandnecessarymedicalexpensesincurredby

peopleinjuredinanaccidentinyourhomeregardlessoffault(doesnotapplytoyouor

memberofyourhousehold).This

provisionwillpaycoveredmedicalexpensesforaminimumofuptothreeyearsfromthedateofinjuryoraccident.

Whenyoupurchaseahomeownersinsurancepolicy,

renewyourpolicy,ormakeanychangestoyourpolicy,

theinsurerwillgiveyouadocumentcalleda

“DeclarationsPage.”

Thedeclarationspageisthepartofyourpolicythatis

specifictoyouandprovidesimportantinformation

aboutyourpolicylimits foreachtypeofcoverage

UnderstandingYourDeclarationsPage

TheDeclarationsPagewillshow:

 Thenameoftheinsurerandthenameofyour

insuranceproducer

(agentorbroker)

 Theinsured’sname(s),andtheaddressofthe

insuredlocation

 Itmayalsolistyourmortgagecompany,ifthereis

one,asan“additionalinsured”.

Itisimportanttobesurethatalloftheinformation

listedonthedeclarationspageiscorrect.

UnderstandingYourDeclarationsPage

CoveragelistedonyourDeclarationPage:

 CoverageA– Dwelling.Thisamountistheestimatedcosttorebuildyourhomeifitisconsideredto

beatotallosscausedbyacoveredperilorcauseofloss.

 CoverageB–OtherStructures,whichgenera llyprovidescoverageforstructuresthatarenotapart

ofthehousesuchasastand‐alonegarage,shed,fence,etc.

 CoverageC–PersonalProperty,whichgenerallyprovidescoverageforlossordamageduetoa

coveredperiltopersonalproperty,suchasclothingandfurniture

UnderstandingYourDeclarationsPage

Theamountsofeachofthesecoverageswill usually

bebaseduponapercentageofthatCoverageA.

Youwillneedtoreadthepolicyformsthoughto

understandwhatisandwhatisnotcoveredunder

eachtypeofcoverageforyourpolicy.

UnderstandingYourDeclarationsPage

Thedeclarationpagewillalsoindicatethepolicy

deductible(s).Therearethreedifferenttypesof

deductibles.

 Thefirsttypeisaflat,allperildeductible.This

willbeasetamountthatyou,thepolicyholder,

willpayoutofpocketbeforethereisany

paymentunderyourpolicy.Thisamountisaset

dollaramount,suchas$1,000,$2,000,etc.

UnderstandingYourDeclarationsPage

 Thesecondtypeisapercentagedeductible.Thisisapercentageoftheamountofyourdwelling

coverage(theCoverageApolicylimitsshownonthedec page),notapercentageoftheclaim.For

example,iftheCoverageApolicylimitsamountis$200,000andthedeductibleis5%,the

deductiblewouldbe$10,000.

 Thethirdtypeofdeductibleisacombination ofthefirsttwo.Somepolicieshaveapercentage

deductibleforaspecificcauseofloss,likedamagecausedbyawindstorm,andaflatdeductible

forallother coveredperilslikeafire.

UnderstandingYourDeclarationsPage

 Thedec pagewilllistanyendorsements,like

water/sewerbackupcoverage,ordinanceandlaw

coverage,moldcoverageandreplacementcost

coveragethatmaybeincludedinthepolicy.The

amountofthecoveragelimitswillbelistedaswell.

Buttounderstandthetermsofcoverageforthese

additionalprotections,andanyotherslistedon

thedec page,youwouldneedtoreadtheforms

andendorsement(s)providedwithyourpolicy.

• DebrisRemoval– Thispartofyourpolicy

generallypaystoremovedebris ofdamaged

propertyfollowingacoveredloss.Yourpolicymay

alsopaytoremovefallentreesthatcausedamage

toyourcoveredproperty.

Itisimportanttorememberthateveniftheloss,

damageorinjuryiscover edbyyourpolicy,

yourpolicy

willonlypayuptothepolicylimitsyoupurchased.

Whatarethebasicpartsofa

homeownersinsurancepolicy?

WhatcoverageoptionsdoIneed?

• Coverageforcertaintypesofpersonalpropertymaybe

cappedatlowerlimits.Ifyoukeepthingsthatare

particularlysusceptibletolosslike cash,securities,jewelry,

furs,manuscripts,andstamporcoincollections,tonamea

few,inyourhome,youmayneedtoincreasetheincluded

limitsatadditionalcost.

• Additionalamountsofinsurancecanbepurchased

separately.Askyourinsurerorinsuranceproducerfor

informationaboutschedulingvaluableitemsseparately

andthecostoftheadditionalcoverage.

WhatcoverageoptionsdoIneed?

KnowthedifferencebetweenACVandRCV

ActualCashValue(ACV)isthecosttoreplacethedamagedpropertywith“likekindor

quality”minusdepreciationforageanduse.

ReplacementCostValue(RCV)isthecosttoreplacethedamagedpropertywith“likekindor

quality,”atfullcostwithoutdepreciation,lesstheamountofyourdeductible.

• It’simportanttorememberyoumaynotreceivethefullreplacementcostuntilyou

actuallyrepairorreplacethedamagedproperty.

WhatcoverageoptionsdoIneed?

AdditionalCoverages– Water/SewerBackupCoverage

• Waterthatbacksupthroughsewersordrainswhenthisbackupisnotdue

tothenegligenceoftheinsuredistypicallynotcoveredunderastandard

homeownerspolicy,butyoucanpurchasewater/sewerbackup

coverage. Thiscoverageprotectsyourhomewhenwateroverflowsa

sumppumporsewageentersyourhomethroughpipesdesignedtocarry

itawa y. Mostinsurersofferseveraldifferentcoveragelimitoptions.

WhatcoverageoptionsdoIneed?

AdditionalCoverages–OrdinanceorLawCoverage

• Befamiliarwithyourlocalbuildingcodes.

• Ifyourhomeisdamagedduringadisaster,youmayberequiredtoperformexpensive

upgradestoyourpropertytocomplywithyourcounty’scurrentbuildingcodes.

• Askyourinsuranceproduceriftheinsureroffersbuildingordinanceorlawcoverage.

Whatfactorsaffectthecostof my

homeownersinsurancepolicy?

PriorClaims– Someinsurersmayreviewnotonly

yourlosshistory,butthelosshistoryoftheproperty

whenmakingadecisiononwhethertoinsureyou.

Somefactorstheymayusetoquotepremiumsusing

priorclaimsare:

• Date(s)ofpriorclaims

• NatureofClaim

• Amountpaidbyinsurerforclaim(s)

Somefactorsthatmayaffectyourpremiuminclude:

• Constructiontypeofhome(frame,brick,modular,etc.)

• Ageofhomeandhome’ssystems(electrical,plumbing,HVAC,roof,etc.)

• Accessto&qualityoflocalfireprotection

• Discounts(ex.,installingdeadboltlocksoralarm,andhavingmultiplepolicies)

Whatfactorsaffectthecostof my

homeownersinsurancepolicy?

Deductibles

• Youmayhavemanyoptionswhenchoosingadeductible.Ifyouchooseapolicywitha $500

deductible–theremustbe$500ofcovereddamagetoyourhomeorpersonalpropertyforeach

claimbeforeyouareentitledtocollectanymoneyfromyourinsurer.Yourinsurerwilldeduct

$500fromthetotalamountofcovereddamage.

• Higherdeductiblesreduceyourpremium.Chooseadeductiblethatyouwillbeabletoaffordto

pa youtofpocketifyouhaveaclaim.

• Youcanaskyourinsurerorinsuranceproducerhowmuchyourpremiumwillbereducedby

increasingthe

amountofyourdeductible.

Whatfactorsaffectthecostof my

homeownersinsurancepolicy?

Deductibles(continued)

• Somehomeownerspoliciescontainspecialpercentagedeductiblesforlossescausedbyspecific

perilssuchaswind,hurricanesor otherstorms.Theinsurer mayautomaticallyincludethese

deductiblesormakethesedeductiblesavailableattheoptionofthepolicyholder.Alwaysask

yourinsurerorinsuranceproducerifyourpolicyhasa flatdeductibleorapercentage

deductible.Percentagedeductiblesarebasedonyourdwellingcoveragelimit,nottheamount

ofyourloss.

Example: Ifyourdwellingisinsuredfor$100,000,andyourpolicyhasa2%deductibleforcertain

perils,yourdeductiblewouldbe$2,000.

Whatfactorsaffectthecostof my

homeownersinsurancepolicy?

PolicyLimits

Doyouhaveenoughinsurancecoverage?

• Mostinsurersrequirethatyourdwellingcoveragelimitisequaltoatleastacertainpercentageofthe

valueofthereplacementcostofyourhome(typically80%,withtheexceptionoftheModified

NamedPerils(HO‐8)form.

• Additionalinformationregardinginsuringyourhometovalue,aswellaslinkstodwelling

replacementcostestimatorscanbefoundontheMIA’swebsiteat:

https://insurance.maryland.gov/Consumer/Pages/HomeownerReconstructionCostEstimators.aspx.

WhattypesoflossesareNOTcovered?

Mosthomeownersinsurancepoliciesexcludethefollowingtypesoflosses:

 Mudslide

 EarthMovement

 Groundwaterorseepage

 Flood

Floodinsurancemaybeavailableasanendorsementtoyourhomeowners,renters,orcondominium

insurancepolicy,orasaseparatepolicy.Whilesomeinsur e rsofferfloodpolicies,floodinsurancecanalsobe

purchasedfromtheNationalFloodInsuranceProgram(NFIP).Formoreinformation,contactyourinsurer,

insuranceproducer,orgoto

theNFIP’swebsite,www.floodsmart.gov.

Summary:Tips

• Makesureyourdwellingpolicylimitsareatleast80%of

thereplacementcostofyourhomeormoreifrequired

byyourinsurancepolicy.

• KnowthedifferencebetweenACVandRCV.

• Askifyoushouldlistandseparatelyinsurevaluableitems

ofpersonalpropertyonapersonalpropertyschedule.

Summary:Tips

• Askaboutadditionalcoverageslikewater/sewerbackupand

ordinanceorlawcoverage.

• Choosethebestdeductibleforyouandunderstandthedifference

betweenflatandpercentagedeductibles.

• Lookforlanguageinyourpolicyaboutvacantorunoccupied

property.Somepoliciesha velanguagethatmaypreventreceiving

paymentforaclaimifthepropertyisleftvacantorunoccupied.

• Readyourpolicyforclausessuchasan“anti‐concurrentcausation”

clause.Damagesincurredbyacombinationofcoveredandnon‐

coveredperilsaretypicallynotcovered.

BePrepared

• Createaninventoryofallyourpossessionsandkeepitupdat ed.TheNAIC’schecklistisavailableat:

https://www.naic.org/documents/index_disaster_section_inventory_checklist.pdf orusethe

HomeInventoryApp:https://content.naic.org/consumer/home‐inventory

• Photographand/orvideoeachroomandtheexteriorofyourhome.

• Safeguardyourrecords– insurancepolicies,inventorylist.

• Keephandyyourinsuranceproducer’sname,telephonenumber,andyourpolicynumber(s).

• Knowhowtoshutoffthegas,electricityandwater.Bepreparedtoboardupvulnerableplacesaround

thehouse.

PublicationsAvailableonMIA’sWebsite

Checkoutthefollowingpublicationsformoreinformation

ConsumerGuidetoHomeownersInsura nce

www.insurance.maryland.gov/Consumer/Documents/publications/homeownersinsguide.pdf

TipsonShoppingforHomeownersInsurance

www.insurance.maryland.gov/Consumer/Documents/publications/homeownersshoppingtips.pdf

ShoppingforHomeownersInsura nceCompany/PolicyComparisonWorksheet

www.insurance.maryland.gov/Consumer/Documents/publications/hoshoppingworksheet.pdf

UnderstandingyourHomeownersDeclarationsPage

www.insurance.maryland.gov/Consumer/Documents/publications/understandinghodeclarationspage.pdf

Homeowners&RentersInsuranceaComparisonGuidetoRates

www.insurance.maryland.gov/Consumer/Documents/publications/HORateGuide2020.pdf

InsurancePreparednessforNaturalDisastersPage

www.insurance.maryland.gov/Consumer/Pages/InsurancePreparednessNaturalDisasters.aspx

ContactInformation

MarylandInsuranceAdministration

1‐800‐492‐6116or410‐468‐2000

www.insurance.mar yland.gov

NationalFloodInsuranceProgram

877‐336‐2627

www.floodsmart.gov

MarylandHomeImprovementCommission

1‐888‐218‐5925or410‐230‐6169

www.dllr.state.md.us/license/mhic/

MarylandInsuranceAdministration

800‐492‐6116|410‐468‐2000|800‐735‐2258(TTY)

insura nce.maryland.gov

ContactInformation

MDInsuranceAdmin

MarylandInsuranceAdministration

marylandinsuranceadmin

MD_InsuranceenEspañol:MDInsuranceAdminES

https://bit.ly/mdmiayoutube

Questions