Best renters insurance companies in Maryland

Travelers, Erie Insurance and Chubb Ltd are our best renters insurance companies in Maryland.

Comparing quotes from multiple insurance carriers is one way to ensure you will get your money's worth. There can be big differences in price between different renters insurance providers, so it pays to shop around. Ensure you buy from a company offering affordable renters insurance and consistent customer service.

To simplify your task, we have compared the carriers for Maryland residents based on their average rates and third-party ratings. Among the carriers surveyed, Travelers is the best renters insurance company in Maryland. It earned a score of 5 and has an average renters insurance rate of $160.

In addition to rates, we also got scores and rating from sources like the National Association of Insurance Commissioners (NAIC) and AM Best for major insurers in Maryland. Below is our list of best renters insurance companies in Maryland based on that analysis, with our score out of five.

CompanyAverage annual premiumAM BestNAICInsurance.com rating
Travelers$160A++0.545.00
Erie Insurance$227A+0.384.81
Chubb Ltd$333A++0.184.66
American Family$269A0.374.52
State Farm$140A++0.954.36
Farmers$283A0.544.11
Nationwide$365A+0.873.12
Allstate$385A+0.902.95
Data updated in 2024
Read our full methodology

Cheapest renters insurance in Maryland

State Farm is the cheapest renters insurance company in Maryland based on our rate analysis with an average annual premium of $140.

Renters insurance prices can vary drastically between companies. That's why it is important to compare rates and see which company offers the best deal to get coverage at an affordable price.

Below are the cheapest renters insurance companies in Maryland and their average annual premiums.

Company nameAverage annual premium
State Farm$140
Travelers$160
Erie Insurance$227
American Family$269
Farmers$283
Chubb Ltd$333
Nationwide$365
Allstate$385
USAA$134
Data updated in 2024
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How much is renters insurance in Maryland

The average cost of renters insurance in Maryland is $243 a year, and the average monthly cost is $20. That's for a policy with personal property coverage of $40,000, liability coverage of $100,000, and a deductible of $1,000.

What you pay for renters insurance may differ from your neighbors because it depends on factors specific to each person: the property you want to insure, extra coverage options you add, and the deductible amount you choose.

"The number one thing that's most important is to get good liability. A renter's policy will default to $100,000 liability," Josiah Hatch, an insurance pro with Bender Hatch Insurance in Boston, said. "It costs next to nothing to go from $100,000 to $500,000. I want to say it's probably 10 bucks a year. It's really cheap to get a lot of extra coverage. I always recommend getting the most liability you can because that's, at its core, what insurance is all about: the worst-case scenario."

Average annual premiumAverage monthly premium
$243$20
Data updated in 2024
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Maryland renters insurance: The most expensive ZIP codes

Where you live in Maryland affects how much you pay for renters insurance. The most expensive ZIP code in Maryland for renters insurance is 21862, where the average annual rate is $290 which is $47 more than the state average insurance premium.

The following table lists the most expensive ZIP codes in Maryland for renters insurance.

ZIP codeAverage annual rate
21862$290
21842$286
21864$276
21851$275
21863$275
21829$274
21664$272
21813$270
21656$269
21627$267
Data updated in 2024
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Maryland renters insurance: The least expensive ZIP codes

Based on a rate analysis by Insurance.com, the least expensive ZIP code for renters insurance in Maryland is 20852, and its average annual rate is $220.

Below, you'll find the least expensive ZIP codes for renters insurance, along with their average annual rates.

ZIP codeAverage annual rate
20852$220
20814$221
20812$222
20851$222
21140$224
20878$225
20839$226
21662$249
21865$255
20606$255
Data updated in 2024
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Compare renters insurance rates by city in Maryland

Renters insurance rates vary significantly across cities, influenced by various factors, including weather patterns, crime rates, and property values. You must consider these factors and compare quotes from different insurers to get the best deal on renters insurance for your specific city in Maryland.

CityAnnual insurance premium
Annapolis
$234
Baltimore
$249
Bowie
$242
College Park
$240
Frederick
$226
Gaithersburg
$225
Hagerstown
$230
Laurel
$231
Rockville
$222
Salisbury
$246
Data updated in 2024
Read our full methodology

Insurance.com compared renters insurance rates provided by Quadrant Data Solutions for $40,000 personal property coverage with a $1,000 deductible and $100,000 liability coverage for all available ZIP codes based on a renter with good credit. To rank the best insurance companies, we gathered AM Best financial stability ratings, where an A++ is the best possible score, and National Association of Insurance Commissioners (NAIC) which provides the best practices for the U.S. insurance industry. These factors were used along with rates to find the best companies overall.

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