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If you rent a home or apartment, then it is important that you have the right renters insurance to protect your personal property and its contents. Renters insurance covers damage caused by smoke or fire, vandalism, theft, a windstorm, and other disasters.

Renters insurance costs an average of $252 a year for Maryland residents. It's $74 less than the national average ($326). However, rates vary based on the zip code, property you want to insure, coverage you choose, among other factors.

If you are in search of the best renters insurance in Maryland, then this guide is for you. We have compared major insurance carriers and their average annual premiums for Maryland residents. Read on to know more about the insurance companies that have the best renters insurance policies, insurers that provide cheap renters insurance costs, and the least and most expensive zip codes for renters insurance in Maryland.

KEY TAKEAWAYS
  • The average annual premium for renters insurance in Maryland is $252 or $21 a month.
  • Standard Fire is the cheapest renters insurance company in Maryland, its average annual premium is $177.

Best renters insurance companies in Maryland

When it comes to choosing the best renters insurance company in Maryland, you want to make sure that you are comparing apples to apples. Our experts at Insurance.com have compared quotes, coverage options and J.D Power score from all the major insurers in Maryland. Below is the list of best renters insurance companies in Maryland:

  • USAA
  • State Farm
  • Nationwide
  • Allstate
  • Farmers

Compare best renters insurance companies in Maryland

USAA is one of the best renters insurance companies in Maryland with the highest J.D. Power score (893), its average insurance rate is $237 a year. However, USAA only offers insurance coverage to military members, veterans, and their families. If you don't qualify for renters insurance coverage from USAA, you can consider buying the policy from State Farm. It has earned 866 scores out of 1000 from J.D Power.

You may want to take a look at what each carrier offers, and which providers offer the best customer service. The most important thing is to compare quotes from all the options available before making the final decision.

Find below the list of best renters insurance providers and their average annual insurance rate.

CompanyJ.D. Power scoreAverage annual rate
USAA893$237
State Farm866$249
Nationwide834$299
Allstate833$412
Farmers831$309
Travelers815$242

How much is renters insurance in Maryland

The average annual premium for renters insurance in Maryland is $252 or $21 a month. However, this amount may vary by location and the amount of coverage you choose.

Based on an analysis by Insurance.com, the recommended coverage level for renters insurance is $40,000 for personal property coverage, with a $1,000 deductible and $100,000 of liability coverage.

Average annual premiumAverage monthly premium
$252$21

10 Most expensive zip codes in Maryland for renters insurance

If you are a renter in Maryland, it's important to know that your renters insurance premium may vary depending on the zip code you live in. The most expensive zip code for renters insurance in Maryland is 21829, its average rate is $325 annually.

Here are the 10 most expensive zip codes in Maryland for renters insurance-

ZIP codeAverage annual rate
21829$325
21822$324
21863$323
21813$322
21841$321
21811$320
21862$319
21208$289
21207$286
21652$284

10 Least expensive zip codes in Maryland for renters insurance

Insurance companies take into account several factors including your zip code when deciding on the premium for your standard renters insurance policy. The least expensive zip code for renters insurance in Maryland is 20841, its average annual rate is $229.

We have gathered price quotes from major insurance companies across all the zip codes and prepared a list of the 10 least expensive zip codes in Maryland for renters insurance.

ZIP codeAverage annual rate
20841$229
20868$230
20812$231
20723$232
20817$233
20874$234
20759$235
21711$236
21750$237
21713$238

Cheap renters insurance in Maryland by carrier

One of the best ways to save money and find the most affordable renters insurance is to get quotes from several different companies to find out which insurance provider offers the cheapest Maryland renters insurance.

Among the carriers surveyed, Standard Fire is the cheapest renters insurance company in Maryland, its average annual premium is $177.

Find below the list of cheap renters insurance companies in Maryland and their average annual premium.

Company nameAverage annual premium
Standard Fire$177
Travelers$177
Nationwide$182
USAA$207
State Farm$241
Homesite Of The Midwest$269
Erie$270
Farmers New Century$283
Allstate$374

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