Best and cheapest homeowners insurance in Maryland for 2024

How much is home insurance in Maryland?

Home insurance in Maryland costs an average of $1,630 a year, which is about $136 a month, based on the following coverages:

Dwelling coverage of $300,000
Liability coverage of $300,000
$1,000 deductible
2% hurricane deductible

However, the cost of a homeowners insurance policy in Maryland will vary based on many factors. They include where you live in the state, the size and construction type of your home and risk factors like a pool or remote location.

Home insurance rates in Maryland have increased an average of 12.1% since 2022, according to S&P Global, which makes shopping around important.

Key takeaways

The average home insurance cost in Maryland is $1,630 a year, making it one of the least expensive states for home insurance.
Home insurance policies require the addition of a hurricane or windstorm deductible in some areas, which can affect rates.
The insurance companies offering the average cheapest home insurance rates in Maryland include State Farm, Allstate and Farmers Insurance.

Best home insurance companies in Maryland

The cheapest homeowners insurance company isn’t necessarily the best.

We rated Maryland's best homeowners insurance companies based on a few important factors: average rates, AM Best financial stability scores and NAIC complaint ratio. We created a score out of five based on these factors.

USAA is Maryland's best home insurance company based on our ranking; however, it caters only to military families. For the general public, State Farm is the best home insurance company.

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Table

Best home insurance companies in Maryland
Company	AM Best	Average annual rate	NAIC complaint ratio	Insurance.com score
State Farm	A++	$1,185	1.07	4.49
USAA	A++	$1,630	0.41	4.19
Travelers	A++	$1,591	0.6	4.14
Farmers	A	$1,639	0.33	3.92
Erie Insurance	A+	$1,897	0.23	3.74
Allstate	A+	$1,312	2.04	3.61
Chubb Ltd	A++	$2,115	0.16	3.6
Nationwide	A+	$1,981	0.75	3.32
American Family	A	$1,958	0.6	3.29

Data updated in 2024

Read our methodology

Cheapest homeowners insurance companies in Maryland

Each carrier uses its own method to decide what you pay, which is why prices differ. If possible, get at least three price quotes when shopping for coverage.

Below, you’ll find Maryland home insurance rates by company for several dwelling coverage levels, all with $300,000 in liability and a $1,000 deductible.

State Farm is the cheapest home insurance company in Maryland on average at every coverage level.

Cheapest home insurance rates in Maryland by coverage level
Company	$200,000	$300,000	$400,000	$500,000	$600,000
State Farm	$946	$1,185	$1,460	$1,732	$1,971
Farmers	$1,103	$1,639	$2,306	$3,039	$3,828
Allstate	$1,159	$1,312	$1,553	$1,811	$2,063
USAA	$1,267	$1,630	$1,951	$2,262	$2,559
Erie Insurance	$1,359	$1,897	$2,455	$2,991	$3,526
Travelers	$1,378	$1,591	$1,822	$2,163	$2,555
Chubb	$1,381	$2,115	$2,850	$3,584	$4,419
American Family	$1,466	$1,958	$2,393	$2,776	$3,121
Nationwide	$1,566	$1,981	$2,424	$2,838	$3,273

Data updated in 2024

Read our methodology

Homeowners insurance in Maryland by coverage level

Below, you'll find the average cost of Maryland homeowners insurance for 10 different coverage levels based on Insurance.com's 2022 data.

Many factors affect home insurance rates. A few of those factors include:

Your home's square footage
Building costs in your area and your own home's construction, materials and features
Local crime rates
The likelihood of certain types of natural disasters, such as hurricanes

Included are dwelling coverage levels of $200,000, $300,000, $400,000, $500,000 and $600,000, with a $1,000 deductible and liability limits of $100,000 and $300,000. As you can see, the difference in price between low liability limits and the recommended higher amount is negligible.

Note that these rates do not include additional hurricane or windstorm coverage that may be required in some areas.

Homeowners insurance in Maryland by coverage level
Coverage Set	Average Rate
$200,000 with $100,000 Liability	$1,282
$200,000 with $300,000 Liability	$1,289
$300,000 with $100,000 Liability	$1,685
$300,000 with $300,000 Liability	$1,694
$400,000 with $100,000 Liability	$2,108
$400,000 with $300,000 Liability	$2,117
$500,000 with $100,000 Liability	$2,536
$500,000 with $300,000 Liability	$2,546
$600,000 with $100,000 Liability	$2,978
$600,000 with $300,000 Liability	$2,987

Data updated in 2024

Read our methodology

Homeowners insurance in Maryland by ZIP code

Enter your ZIP code in the search box to see that area's average home insurance rate and the highest and lowest premiums fielded from major insurers. Comparing home insurance rates will give you an idea of how much you can save. The difference between the highest and lowest rates is how much you can save by shopping your policy.

Home insurance calculator

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Most & least expensive ZIP codes for homeowners insurance in Texas

Most expensive

ZIP code	City	Highest rate
77550	Galveston	$10,164
77586	El Lago	$9,906
77551	Galveston	$9,536
77554	Galveston	$9,358

Least expensive

ZIP code	City	Lowest rate
78559	Iglesia Antigua	$1,956
78593	Santa Rosa	$1,999
79915	El Paso	$2,008
79905	El Paso	$2,009

Data updated in 2024

Read our methodology

The Maryland Insurance Administration says...

Insurers are not allowed to review an individual's credit history when pricing a homeowners insurance policy or when making a decision as to whether to cancel, nonrenew or refuse to issue a policy.

- The Maryland Insurance Administration

Average cost of Maryland homeowners insurance by city

Though you can see how much coverage costs for your neighborhood by using our rates tool above, you may want to know the average cost of a policy in your city and how it compares to others. Below, we provide average homeowners insurance rates for 10 cities.

Average homeowners insurance rates in Maryland by city
City	Average rate	Difference from state average
Bethesda	$1,358	-$336
Frederick	$1,359	-$335
Rockville	$1,354	-$340
Silver Spring	$1,378	-$316
Gaithersburg	$1,347	-$347
Columbia	$1,415	-$279
Ellicott City	$1,395	-$299
Waldorf	$1,734	$40
Glen Burnie	$1,556	-$138
Baltimore	$1,927	$233

Data updated in 2024

Read our methodology

Maryland home insurance discounts

There are several ways to reduce your Maryland home insurance costs. Many insurers will lower your bill if you purchase more than one insurance policy from them. This process – known as bundling – can cut your costs by up to 18%, on average, according to Insurance.com’s discount data analysis.

You can also cut your costs by making your home more disaster-resistant. Installing hurricane glass or accordion shutters might net you a discount.

Other possible home insurance discounts include:

Installing smoke detectors or a local burglar alarm — 1% to 4%
Installing a sprinkler system — 5%
Loyalty discounts — about 7% on average after three years and 9% for 10 years or more
Automatic payments — 4% on average

Methodology

Insurance.com analyzed 2022 data commissioned from Quadrant Data Services for Maryland homeowners insurance for coverage levels ranging from $200,000 to $600,000, with liability at $100,000 and $300,000, and a $1,000 deductible. Rates were fielded without including a hurricane or windstorm deductible. Content is updated for 2024.

Maryland home insurance: Frequently asked questions

Does Maryland homeowners insurance have a windstorm deductible?

Some homeowners policies in Maryland have a special deductible for losses caused by wind, hurricanes or other major storms. It will be applied instead of the standard "all peril" deductible if the damage is caused by wind, hurricanes or other storms.

You may have the option to add a wind deductible, which will usually result in a lower premium, but if you need to make a claim due to wind damage, your share of the bill will be much higher. You can reduce your rates by adding wind-resistant upgrades to your home.

What if I can't get home insurance in Maryland?

The Maryland Joint Insurance Association (JIA) is Maryland's version of the insurer of last resort. According to the JIA website, its mission is as follows:

"The JIA provides insurance coverage to property owners, individuals or businesses throughout the state of Maryland who have been unable to obtain essential property insurance through the competitive property/casualty insurance marketplace. The JIA offers homeowners, dwelling and commercial property insurance for qualified properties." The JIA encourages homeowners to first seek a standard homeowners policy. If you are unable to secure such a policy, you can inquire about a JIA policy by contacting “a licensed property/casualty insurance producer or applying with the JIA directly."

Coverage from the JIA is limited. But it could be the solution for your homeowners insurance needs.

How do I file a complaint about my Maryland insurance company?

If you are unhappy with your insurer or feel they have acted improperly, you can file a complaint with the Maryland Insurance Administration. The Maryland Insurance Administration (MIA) is an independent state agency that regulates Maryland's insurance marketplace and protects consumers by ensuring that insurers and insurance producers (agents and brokers) act in accordance with insurance laws.

The MIA can be reached at 410-468-2000, 1-800-492-6116 (toll free), 1-800-735-2258 (TTY) or at insurance.maryland.gov. You can also file a complaint with the MIA online.