Best condo insurance companies in Maryland

In Maryland, you have a lot of options when it comes to finding the best condo insurance company. To make your task easier, our insurance experts have analyzed premiums, coverage offerings, scores, and ratings from sources like the National Association of Insurance Commissioners (NAIC) and AM Best for major insurance companies in Maryland. Below are the best condo insurance companies in Maryland based on Insurance.com’s analysis.

CompanyAnnual premiumAM Best ratingNAICInsurance.com rating
Farmers$408A0.54
5.0
Travelers$491A++0.54
5.0
Erie Insurance$731A+0.38
4.7
State Farm$304A++0.95
4.4
American Family$892A0.37
4.3
Nationwide$467A+0.87
4.1
Allstate$600A+0.90
3.7
Data updated in 2024
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Average cost of condo insurance in Maryland

The average cost of condo insurance in Maryland is $642 a year or $53 a month with $1,000 as deductible, $60,000 in personal property coverage, and liability coverage of $300,000. Your average annual premium will vary depending on your location, the coverage limits you select, and the deductible amount among other factors.

To find the most affordable policy for your situation, compare quotes from multiple providers based on the coverage you need.

Average annual premiumAverage monthly premium
$642$53
Data updated in 2024
Read our full methodology

Condo insurance calculator

Average condo insurance rates in Maryland
Please enter valid zip code
$40,000
$40,000 $60,000 $80,000 $100,000
$100,000
$100,000 $300,000
$1,000
$1,000

Most & least expensive ZIP codes for condo insurance in Maryland

Most expensive

ZIP codeCityHighest rate
21213Baltimore$773
21216Baltimore$763
21205Baltimore$761
21202Baltimore$756

Least expensive

ZIP codeCityLowest rate
21777Point of Rocks$540
21758Brunswick$541
20812Glen Echo$542
21710Adamstown$542
Data updated in 2024
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Condo insurance rates in Maryland by coverage level

Based on a rate study by Insurance.com, State Farm provides the lowest condo insurance rates in Maryland based on our standard coverage sample of $60,000 for personal property coverage, $300,000 for liability coverage and a $1,000 deductible.

Farmers is the next cheapest option, offering low-cost condo insurance in Maryland at $408 per year. However, rates vary by coverage level.

The table below shows condo insurance rates from several top companies at various coverage levels.

Company$40,000 contents/$100,000 liability$40,000 contents/$300,000 liability$60,000 contents/$100,000 liability$60,000 contents/$300,000 liability$80,000 contents/$100,000 liability$80,000 contents/$300,000 liability$100,000 contents/$100,000 liability$100,000 contents/$300,000 liability
State Farm$272$279$297$304$315$322$331$338
Farmers$313$325$396$408$480$492$572$584
Nationwide$429$432$465$467$494$496$535$537
Travelers$412$420$481$491$541$552$619$633
Allstate$504$526$578$600$639$661$688$710
Erie Insurance$490$557$638$731$751$865$869$999
USAA$714$714$792$792$859$859$912$912
American Family$746$757$881$892$1,016$1,027$1,152$1,163
Data updated in 2024
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Condo insurance rates by companies in Maryland

Rates for condo insurance by company in Maryland vary. It’s important to shop around and compare quotes to find the best price. 

In the table given below, you’ll see condo insurance rates for major companies in Maryland. The cheapest company for condo insurance in Maryland is State Farm. Farmers, and Nationwide, are the second and third cheapest options.

CompanyAverage annual rateAverage monthly rate
State Farm$304$25
Farmers$408$34
Nationwide$467$39
Travelers$491$41
Allstate$600$50
Erie Insurance$731$61
USAA$792$66
American Family$892$74
Data updated in 2024
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Compare condo insurance rates by city in Maryland

Condo insurance rates vary significantly across cities, influenced by various factors, including weather patterns, crime rates, and property values. You must consider these factors and compare quotes from different insurers to get the best deal on condo insurance for your specific city in Maryland.

CityAnnual insurance premium
Annapolis
$578
Baltimore
$635
Bowie
$618
College Park
$599
Frederick
$520
Gaithersburg
$532
Hagerstown
$533
Laurel
$562
Rockville
$519
Salisbury
$622
Data updated in 2024
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Insurance.com compared condo insurance rates provided by Quadrant Data Solutions in 2023 for $60,000 of personal property coverage with a $1,000 deductible and $300,000 of liability coverage for all available ZIP codes and with a good credit score. The content was updated in 2024.

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