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The Best Homeowners Insurance in Maryland [2023]

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Find a top-ranked Homeowners Insurance Agency in your area

Did you know Maryland was one of the original 13 colonies? The state, rife with a colorful history, is also the birthplace of our national anthem as well as prominent historical figures like Benjamin Banneker, Frederick Douglass, Thurgood Marshall, and Upton Sinclair. 

But history isn’t the state’s only claim to fame. It’s one of the most desirable states to live in due to its diverse living conditions — from bustling cities like Baltimore and Annapolis to quaint beach towns to sprawling farmlands. And lets not forget that its home to over 4,000 miles of shoreline which produces a plethora of seafood including the famous blue crab.

Not convinced yet? It also has relatively cheap home insurance, well below the national average. If you own a home or are thinking of buying in Maryland, it’s important to compare homeowners insurance rates and find the coverage that works best for you. 

We at Expertise.com have analyzed a handful of home insurance companies. We’ll uncover everything to know about homeowners insurance in Maryland, and help you find the most comprehensive, cheapest coverage to suit your needs.

Average Cost of Homeowners Insurance in Maryland

The average cost of homeowners insurance in Maryland is $1,694 per year according to Insurance.com. This is for $300,000 dwelling coverage and $300,000 in liability with a $1,000 deductible.

The cost of homeowners insurance in Maryland can differ vastly based on a few key factors:

  • The age of your home: Is your Maryland home an older home that is at risk of more structural wear and tear?

  • The square footage of your home: How big is your home? In general, larger homes will cost more to insure.

  • The materials used to build your home: Was your Maryland home built using materials prone to things like rotting or structural damage?

  • Building costs in your area: Because insurance deals with repairs and replacement, coverage increases with increased building costs.

  • The location in which you live: What are crime rates like? How close are you to a fire department? How close are you to water or coastline?

  • Any additional features: Does your house have a swimming pool or hot tub that could pose a potential risk to guests? Do you have pets, and if so, what are their breeds? Surprisingly, insurers will look at these things when assessing prices.

  • Your deductible: A higher deductible will decrease your premium, but could cost you more if you file a claim. Talk to your insurance provider about diminishing deductibles to get the best plan that suits your payment needs.

Maryland Homeowners Insurance Rates by City

It’s no surprise that homeowners insurance rates and policies can vary greatly depending on where you live in the state. Coastal homeowners will pay more due to added hurricane or windstorm coverage.

Below is a breakdown of the average annual rate by some of the more popular Maryland cities:

City

Average Annual Rate

Bethesda

Frederick

Rockville

Silver Spring

Gaithersburg

Columbia

Ellicott City

Waldorf

Glen Burnie

Baltimore

The Best Homeowners Insurance in Maryland

After extensive research, we at Expertise.com found the following insurance agencies to provide the best, comprehensive home insurance coverage in Maryland:

USAA logo

USAA


Average Annual Rate: ~ $800

Notes: Affordable option but only for military-based families

Travelers logo

Travelers


Average Annual Rate: ~ $900

Notes: Another affordable option but poor customer satisfaction

State Farm logo

State Farm


Average Annual Rate: ~ $1,025

Notes: Local, in-person agencies; no high deductibles and adjusts coverage to inflation

Chubb logo

Chubb


Average Annual Rate: ~ $1,350

Notes: Good option for high-value homes; includes extended coverage options

Allstate logo

Allstate


Average Annual Rate: ~ $1,400

Notes: Personalized and extensive coverage options

Nationwide logo

Nationwide


Average Annual Rate: ~ $1,400

Notes: Great bundling options

American Family Insurance

American Family


Average Annual Rate: ~ $1,900

Notes: Extensive coverage options tailored to Maryland needs

*Premiums are for $250K in dwelling coverage

Cheapest Homeowners Insurance in Maryland

The cheapest homeowners insurance coverage in Maryland is Travelers (or USAA for military personnel).

It’s important to remember that prices vary depending on each person’s unique scenario, but if cost is the most important variable for you, check Travelers’ coverage options and exclusions first.

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Find Cheap Homeowners Insurance in Your Area

FAQs

Below, we tackle some common questions to help you make a more informed decision about which homeowners insurance to choose in Maryland specifically.

How to Reduce Homeowners Insurance Costs in Maryland

As we’ve pointed out, the price you pay for homeowners insurance can vary substantially across insurers. 

Here are a few ways to reduce costs:

  • Increase your deductible. This will help reduce monthly costs to your insurer, but it may mean paying more out of pocket should you need to make a claim. Similarly, paying your 6-month or 1-year premium in full will drive down monthly costs.

  • Bundle policies. Bundling your home and auto insurance can help you save 5–15% on your premiums. Talk to your insurance provider about home and car insurance bundling options and how that helps you save.

  • Take the necessary steps to make your home disaster-resistant. Some examples include:

    • Install a smoke detector and/or fire alarm.

    • Get a burglar alarm and/or dead-bolt locks.

    • Install a sprinkler system.

  • Nix the high-risk accessories. Similar to the above point, rid your home of things that are considered “high risk.” For example, did the kids go off to college? Time to throw out that trampoline that’s sitting in the backyard.

  • Seek out other discounts. Some things to look into:

    • Do you work from home? Insurance providers may feel you’re less prone to theft or may spot a fire or flood sooner.

    • Are you retired? You may qualify for a discount. 

    • Does your employer offer a group deal?

    • Even something as simple as choosing paperless billing can help you save!

  • Keep good credit. Some agencies will look at your credit history and charge less for those with good financial strength and standings.

As always, consult your insurance agent to see which of the above discounts you qualify for.

Maryland Insurance Options in Your City

At Expertise.com, our goal is to connect Maryland residents with the best local experts and agencies, so you can find the home insurance policy that safely insures your home and most prized possessions. 

View our list of the 14 best homeowners insurance agencies here

Learn more about the best homeowners insurance options in your respective Maryland cities below:

Our methodology evaluates each provider based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.