* WARNING: THIS IS AN UNOFFICIAL, INTRODUCTORY COPY OF THE BILL.
THE OFFICIAL COPY CONSIDERED BY THE CITY COUNCIL IS THE FIRST READER COPY.
INTRODUCTORY*
CITY OF BALTIMORE
COUNCIL BILL R
(Resolution)
Introduced by: Councilmember Henry
A RESOLUTION ENTITLED
A COUNCIL RESOLUTION concerning
title
Request for State Action - State Run Home Insurer of Last Resort
FOR the purpose of calling on the State to establish a home insurer of last resort modeled on the State run auto insurer of last resort, MAIF, that could provide needed home insurance to homeowners denied coverage by the private insurance market due to factors beyond their control, such as nearby vacant properties.
body
Recitals
Homeowners’ insurance is a necessity for most property owning Baltimoreans, either as a requirement of their mortgages or due to simple prudence in protecting their single largest investment. However, the number of homeowners who are unable to obtain insurance, not because of their own actions but because of the negligence of their neighbors, has begun growing to troubling proportions.
Although Baltimore is hardly unique in experiencing this problem, the nature of our housing stock makes it especially acute here. Baltimore’s signature rowhouses are particularly vulnerable to damage from poorly maintained neighboring buildings with whom they share a wall. If the building on the other side of your wall happens to be vacant, the risk you face of problems spilling over onto your property due to poor maintenance of your vacant neighbor goes up dramatically.
The unfortunate reality that Baltimore has far t...
Click here for full text