Perpetual Insurance and Its Key Benefits
Perpetual insurance is a unique insurance product that not only protects your home but also your bank account
With ordinary homeowners insurance, you pay a yearly premium and you never get any of your money back from the insurance company. The next year you pay another yearly premium –which may have increased (especially if you have had a claim) and still get no money back. Not so with Baltimore Equitable Insurance. With our perpetual insurance policy, there are no yearly premiums. You pay an up- front deposit, and then you are covered perpetually after that. The only time you give us any other money is when the value of your home goes up. When this happens, you only pay for the increase in value, and it’s at your locked-in price when you took out your policy. What makes Baltimore Equitable Insurance unique is that when you no longer need your insurance, you cancel your policy and everything you have paid-every single dollar- will be refunded to you in full. How are we able to do that? Because we make money on the interest from our customers deposits, not the premiums.
Additionally, your locked-in rate remains in effect even if you have had a claim. Don’t worry if you have a claim that does not affect your refundable deposit. Your deposit is always your money.
We also offer disappearing deductible options that reward you for claim-free years. Each year without a claim, your deductible is reduced by either $100 or $200 per year (depending on the deductible chosen). After five consecutive claim-free years, your deductible disappears.