Homeowners insurance on a $400,000 home in Maryland

How much is homeowners insurance on a $400,000 house in Maryland?

Homeowners insurance with $400,000 in dwelling coverage in Maryland costs an average of $2,131 a year. This rate covers the estimated cost to rebuild the insured home, not its market value. Your premium may differ based on your ZIP code, deductible, insurer, and property characteristics.

Coverage	Average annual premium	Average monthly premium
$400,000 with a $1,000 deductible and $100,000 liability	$2,123	$177
$400,000 with a $1,000 deductible and $300,000 liability	$2,131	$178

Homeowners insurance on a $400,000 house in Maryland by company

State Farm has the lowest average rate at $1,361 per year. Travelers follows at $1,688. Comparing identical policies shows price differences across insurers

Compare home insurance based on a policy with $400,000 in dwelling coverage, $300,000 in liability coverage and a $1,000 deductible.

Company	Average annual premium	Average monthly premium
State Farm	$1,361	$113
Travelers	$1,688	$141
Allstate	$1,978	$165
Erie Insurance	$2,178	$181
Farmers	$2,222	$185
Nationwide	$2,285	$190
American Family	$2,335	$195
Chubb	$3,044	$254
USAA	$2,110	$176

Home insurance calculator

Use our home insurance calculator to get rates more tailored to your home and ZIP code.

Home insurance calculator by ZIP code

Average home insurance rates on 400K house in Texas

Most & least expensive ZIP codes for homeowners insurance in Texas

Most expensive
Least expensive

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

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

Read our methodology

Maryland homeowners insurance rates for a $400,000 home by liability level

Increasing liability coverage from $100,000 to $300,000 changes the premium by $8 in Maryland. Liability coverage helps protect against injury or property damage claims, while dwelling coverage typically has the greatest impact on overall cost.

Company	$400,000 with a $1,000 deductible and $100,000 liability	$400,000 with a $1,000 deductible and $300,000 liability	Hurricane deductible
State Farm	$1,354	$1,361	2%
Travelers	$1,682	$1,688	2%
Allstate	$1,950	$1,978	2%
Erie Insurance	$2,168	$2,178	2%
Farmers	$2,210	$2,222	2%
Nationwide	$2,277	$2,285	2%
American Family	$2,322	$2,335	2%
Chubb	$3,044	$3,044	2%
USAA	$2,110	$2,110	2%

Maryland homeowners insurance on a $400,000 house by deductible

Choosing a higher homeowners insurance deductible can lower your annual premium in Maryland. Increasing the deductible from $1,000 to $2,500 reduces the average cost of a policy with $400,000 in dwelling coverage by $443 a year. However, you will pay more out of pocket when filing a claim.

Take a look at how deductibles affect home insurance rates in Maryland below.

Deductible	Average annual premium	Average monthly premium
$500	$2,074	$173
$1,000	$2,443	$204
$2,000	$2,047	$171
$2,500	$2,000	$167
$3,000	$1,964	$164
$4,000	$1,767	$147
$5,000	$1,767	$147

Maryland home insurance on a $400,000 house by city

The cheapest city in Maryland for $400,000 in dwelling coverage is Rockville at $1,731 a year. Whereas the most expensive city in Maryland to insure a $400,000 house is Baltimore at $2,364 a year.

Where you live in Maryland impacts your home insurance premium due to risk factors like weather, crime and more. Compare average annual home insurance rates in major Maryland cities below.

City	Annual premium	Monthly premium
Rockville	$1,731	$144
Gaithersburg	$1,738	$145
Frederick	$1,789	$149
Hagerstown	$1,795	$150
Laurel	$1,911	$159
Annapolis	$2,027	$169
College Park	$2,101	$175
Bowie	$2,157	$180
Salisbury	$2,349	$196
Baltimore	$2,364	$197

Factors that impact homeowners insurance on a $400,000 house

The cost of homeowners insurance with $400,000 in dwelling coverage depends on the home's location, construction, size, condition and claims risk. Insurers also consider the coverage selected and the expense of rebuilding in the area. Two homes with the same dwelling limit can therefore have significantly different premiums.

A number of factors affect the cost of homeowners insurance in Maryland. They include:

ZIP code
Square footage
Construction type
Risks on the property
Past claims

How to determine how much coverage you need for a $400,000 house

Your coverage should match the estimated cost to rebuild your home, not its market value. Replacement cost estimates consider materials, labor, square footage, and local construction costs. It's important to review this estimate regularly, especially after renovations or changes in building costs.

To ensure you get the right amount of coverage, it's important to do a thorough and accurate replacement cost calculation. You can estimate the amount to get ballpark insurance rates, but when it comes to buying a policy, it needs to be accurate to properly protect your home.

Home insurance FAQs

How do you estimate the cost of homeowners insurance for a $400,000 house?

To estimate homeowners insurance cost, start by determining your home's replacement cost, which reflects how much it would take to rebuild it using current materials and labor. Then factor in your ZIP code, deductible, coverage limits, and risk factors. Using a calculator or comparing quotes from multiple insurers will give you a more accurate estimate.

Is replacement cost coverage necessary for a $400,000 home?

Yes, replacement cost coverage is essential because it ensures your home can be rebuilt at current construction prices after a covered loss. Without it, you may receive less than what is needed to fully restore your property. Most lenders also require sufficient coverage to protect their financial interest in the home.

Does location affect rates?

Yes, location plays a major role in determining homeowners insurance rates. Insurers consider risks such as severe weather, wildfire exposure, crime rates, and proximity to fire stations. Even within the same state, premiums can vary widely between cities or ZIP codes due to these localized risk factors.

Can I lower my premium?

Yes, there are several ways to lower your homeowners insurance premium. You can raise your deductible, bundle your home and auto policies, install safety features like alarms or storm shutters, and maintain a claims-free history. Shopping around and comparing quotes regularly can also help you find better rates.