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The average homeowners insurance rate in Maryland is $1,694, based on Insurance.com’s 2022 data, making it the ninth least-expensive state for home insurance. But Maryland home insurance rates will vary based on location, age and size of the home, coverage level, and more. So, how much is homeowners insurance in Maryland and which companies have the best rates?

Insurance.com’s team of experts reviewed Maryland home insurance companies and analyzed rates for various coverage levels, ZIP codes and major cities.You’ll have all the information you need to make confident choices when you compare home insurance quotes in Maryland.

KEY TAKEAWAYS
  • The average home insurance cost in Maryland in 2022 is $1,694, making it one of the least expensive states for home insurance.
  • The best home insurance company isn't always the cheapest. Reputation, financial stability, and industry ratings are all important factors.
  • Some of the top insurance companies offering home insurance in Maryland are Allstate, American Family, and Farmers Insurance.
  • The insurance companies offering the average cheapest rates for a policy with $300,000 in dwelling and liability coverage with a $1,000 deductible include State Farm, Allstate, and Farmers Insurance.

Top home insurance companies available in Maryland

The homeowners insurance company with the cheapest rates isn’t necessarily the best. Other factors to consider are customer service and claims processing.

We used Insurance.com’s most recent rankings of the best companies in the nation to identify the five best homeowners insurance companies from that list that sell policies in Maryland. Ratings are based on:

  • A.M. Best financial ratings for an insurer's ability to meet its financial obligations
  • J.D. Powers' annual study for customer satisfaction ratings
  • Discount availability and amount
  • Average cost of a Maryland home insurance policy by company
  • National Association of Insurance Commissioners (NAIC) customer complaints ratio

Here are the top five home insurance companies based on Insurance.com’s national rankings that do business in Maryland.

Top Home Insurance Companies in Maryland
Company NameInsurance.com star rating (out of 5)
State Farm4.64
USAA4.61
Allstate4.25
Travelers4.09
Nationwide3.93
Farmers Insurance3.79
American Family3.76

Home insurance coverage in Maryland

Before we dive into the other research on costs and companies, you need to know what you’re buying and why and how much you need. So, let's look at the basic components of home insurance. Plus, explore how much to get to make sure you’re not underinsured.

What does home insurance cover

How much is homeowners insurance in Maryland by coverage level?

Now you know how different components of a homeowners insurance policy work to protect you. With that in mind, we will explore the average costs of Maryland homeowners insurance for 10 different coverage levels based on the most recent rate analysis by Insurance.com.

We’ve set up the table to include different levels of dwelling coverage at $200,000, $300,000, $400,000, $500,000 or $600,000 based on a $1,000 deductible for each liability limit of $100,000, $300,000. As you can see, the difference in price between low liability limits and the recommended higher amount is negligible, less than $20.

Homeowners Insurance in Maryland by Coverage Level
Coverage SetAverage 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

Homeowners insurance in Maryland by ZIP code

By entering your ZIP code in the search box, you’ll see the average home insurance rate for that area, as well as the highest and lowest premium fielded from major insurers. This will give you an idea of how much you can save by comparing home insurance rates. The difference between the highest rate and the lowest rate is how much you can save by shopping your policy.

HOME INSURANCE CALCULATOR

Average home insurance rates in CALIFORNIA

$200,000
$1,000
$100,000
94404 - Foster City
Dwelling $200,000, Deductible $1,000 and Liability $100,000.

AVERAGE RATE: $669

HIGHEST RATE: $1,029 LOWEST RATE: $443

Most & least expensive zip codes for homeowners insurance in California

Most Expensive

Zip CodeCityHighest Rate
92561Mountain Center$1,031
90210Beverly Hills$1,029
90069Los Angeles$1,020
90046Los Angeles$1,011

Least Expensive

Zip CodeCityLowest Rate
93445Oceano$606
93117Goleta$607
93111Goleta$610
93433Grover Beach$615

Cheap homeowners insurance in Maryland by company

It's crucial to shop around for the best home insurance rate because prices for the same coverage vary by hundreds of dollars. If you don’t compare rates, you may end up overpaying.

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

Each carrier uses its own method for deciding what you pay, which is why prices differ so much. If possible, get at least three price quotes when shopping for coverage. The exercise in comparison shopping could save you big time.

Below are average home insurance rates, ranked by company for a policy with $300,000 in dwelling and liability coverage with a $1,000 deductible.

Cheap Homeowners Insurance Companies in Maryland
Company NameAverage annual premium
State Farm$1,185
Allstate$1,312
Travelers$1,591
USAA$1,630
Farmers Insurance$1,639
Erie Insurance$1,897
American Family$1,958
Nationwide$1,981
Chubb Ltd$2,115

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 10different cities.

Average Homeowners Insurance Rates in Maryland by City
CityAverage 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

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 type of 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

Maryland home insurance FAQ

How does wind damage impact Maryland homeowners insurance?

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.

Should I get earthquake insurance in Maryland?

According to the Maryland Department of Natural Resources, Maryland has been the epicenter of a felt earthquake 66 times since 1758. This equates to about one earthquake every three years.

However, most of these earthquakes are very small, in the 1.5 to 2.5 magnitude range. During this type of earthquake, you will feel a bit of shaking and it may rattle pictures on the walls, but they rarely do much damage.

Standard homeowner policies do not provide any coverage for earthquake-related damage. But if you have concerns about earthquake damage it is possible to buy earthquake coverage.

What if I am unable to 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.

Methodology

Insurance.com analyzed its most recent data for Maryland homeowners insurance using a dwelling coverage of $300,000, liability in the same amount, and a $1,000 deductible. We also leveraged home insurance ratings from our sister site, Insure.com, using the top-rated insurance companies nationwide and narrowing it down to those that operate in Maryland.

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