Best condo insurance in Maryland

Condo insurance isn’t required by law in Maryland, but your mortgage company likely requires it. Condo insurance is a home insurance policy that covers everything inside your condo, while the homeowners association’s insurance covers the outside of your building and common areas.

Depending on your HOA’s rules, your condo insurance may cover not only personal property, but also provides dwelling coverage known as building property coverage, for the interior of the structure. Make sure you know how much condo insurance you need before you buy condo insurance.

To find the best condo insurance in Maryland, we’ve gathered data on the top companies. Below you’ll find a list of the best condo insurance companies in Maryland with average annual rates.

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, J.D Power score and customer satisfaction ratings of major insurers in Maryland. Below are the best condo insurance companies in Maryland based on Insurance.com’s analysis.

Average cost of condo insurance in Maryland

The average cost of condo insurance in Maryland is $580 a year or $48 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.

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CONDO INSURANCE CALCULATOR

Average condo insurance rates in MARYLAND

Zip

Personal Property Coverage Covers your personal belongings, such as your furniture, electronics, clothing, artwork, etc. Choose the amount you believe would cover all of your belongings.

$40,000$60,000$80,000$100,000 $60,000

Deductible Choose the amount you want to pay out-of-pocket before insurance kicks in. This applies to your dwelling and personal belongings claims.

$1,000 $1,000

Liability Covers the medical expenses of people who are hurt while in your home or on your property, as well as damage you caused to others’ property. Also covers legal fees if you are sued by someone hurt in your home or on your property. Limits of $300,000 or $500,000 are recommended.

$100,000$300,000 $100,000

SEARCH

21216 - Baltimore

Personal Property Coverage $60,000, Deductible $1,000 and Liability $100,000.

AVERAGE RATE: $669

HIGHEST RATE: $998 LOWEST RATE: $337

Most & least expensive zip codes for condo insurance in Maryland

Most Expensive

Zip Code	City	Highest Rate
21862	Showell	$697
21213	Baltimore	$688
20661	Mount Victoria	$680
20682	Rock Point	$679

Least Expensive

Zip Code	City	Lowest Rate
21755	Jefferson	$491
21777	Point of Rocks	$492
21758	Brunswick	$493
21754	Ijamsville	$494

• METHODOLOGY +

  Methodology ×

  Insurance.com commissioned Quadrant Information Systems to provide condo insurance rates for nearly every ZIP code in the country from up to six major insurers. The applicant profile is of a married, 35-year-old who has filed no claims in five years. Coverage includes dwelling coverage of $50,000, medical payments coverage of $5,000, contents replacement at replacement value and loss of use at 10 percent of personal property limit.

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. Allstate, and Farmers, are the second and third cheapest options.

Methodology

Insurance.com compared condo insurance rates provided by Quadrant Data Solutions in 2022 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 2023.