Maryland Homeowners Insurance (August 23)
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Are you looking to get the best homeowners insurance in Maryland? We have analyzed all the major insurers to help you find the best Maryland home insurance
Key Takeaways
- Maryland homeowners insurance costs $1,389 annually.
- Insurers offer home insurance policies in the state starting at around $706 annually.
- Residents must consider buying a home insurance policy to protect themselves from hurricanes and other types of water damage.
Maryland homeowners insurance: What you need to know
On average, Maryland home insurance will cost you around $1,389 annually, which is lower than the national average rate. Maryland experiences four-season weather, and its closeness to the coast make it prone to coastal weather events, causing significant damage to homes. So, it is vital to know about home insurance quotes in Maryland if you’re a homeowner.
What does a homeowners insurance policy cover?
These are the typical coverages that a home insurance policy offer – Dwelling, Liability, Medical Payments to Others, Personal Property, Other Structures, and Additional Living Expenses. Also, you can buy these coverages in Maryland.
- Flood insurance: Many counties in the state face severe flooding risk. Ideally, homeowners insurance does not cover flood damage. To get protection, you must buy extra coverage through FEMA’s National Flood Insurance Program (NFIP) or from private insurers.
- Water backup coverage: It pays for the water damage caused by a sewer or a drain line backup to your home’s structure, personal property, or both. It most commonly occurs in basements when sump pumps can’t keep up with heavy rain, but it can occur from any sewer or drain line.
- Identity theft coverage: This coverage is available from many home insurance companies and helps pay for restoring your identity if it gets stolen.
What isn’t covered by a typical homeowners insurance policy?
Home insurance in Maryland doesn’t cover nuclear threats, flooding, earthquakes, power outages, war, wear and tear, insect and vermin infestations, sinkholes, or intentional loss. So before buying a policy, make sure about the coverage you receive.
The cheapest home insurance companies in Maryland
With an average annual rate of $706, Brethren Mutual offers Maryland’s most affordable homeowners insurance. Travelers offer the second-best Maryland home insurance rates, with a yearly average rate of $838. Comparing the quotes from multiple insurers and buying is the way to buy the best homeowners insurance in Maryland.
| Insurer | Average annual rate |
|---|---|
| Brethren Mutual | $706 |
| Travelers | $838 |
| State Farm | $908 |
| Erie | $1,031 |
| USAA | $1,209 |
The best homeowners insurance in Maryland for pool owners
Some insurers charge higher rates for insurance if you own a swimming pool as they are considered a liability risk. State Farm has the most reasonable home insurance rates for Maryland homes with swimming pools, with an average rate of $1,343 per year. In contrast, Travelers has the most expensive rates, with an average rate of $7,047 per year.
| Insurer | Average annual rate |
|---|---|
| State Farm | $1,343 |
| USAA | $1,396 |
| Erie | $1,611 |
| Allstate | $1,619 |
| Travelers | $7.047 |
The best homeowners insurance in Maryland for dog owners
Expect to pay more for your Maryland home insurance policy if you own a dog that your insurer considers ‘dangerous.’ Some insurers may even refuse coverage if you own one. State Farm has the cheapest home insurance quotes in the state for a home with a dangerous dog breed, with an average yearly rate of $1,323 per year. At the same time, Travelers has the highest average yearly rate of $6,224 per year.
| Insurer | Average annual rate |
|---|---|
| State Farm | $1,323 |
| USAA | $1,396 |
| Erie | $1,435 |
| Allstate | $1,619 |
| Travelers | $6,224 |
Homeowners insurance deductibles in Maryland
How low or high you set the deductible also impacts the cost of Maryland home insurance. A deductible is a cost that a homeowner pays before an insurer will cover the costs. Ideally, the lower your deductible, the higher your premiums. So, if you’re looking for lower home insurance rates, you should consider increasing their deductible. The table below shows the average rates associated with the majority of deductibles.
| Deductible Level | Average annual rate |
|---|---|
| $500 | $1092 |
| $1000 | $1018 |
| $1500 | $965 |
| $2000 | $884 |
| $5000 | $761 |
Maryland home insurance prices by coverage levels
The amount you pay for home insurance influences the coverage you select. Carrying $100,000 in dwelling coverage costs an average of $590 per year in Maryland. At the same time, carrying coverage up to $400,000 costs as much as $1,477 per year.
| Dwelling coverage cost | Average annual rate |
|---|---|
| $100,000 | $590 |
| $200,000 | $889 |
| $250,000 | $1018 |
| $400,000 | $1477 |
Maryland homeowners insurance costs by city
The average home insurance cost in Maryland varies by city. Factors like your ZIP Code and crime rate in your area affect the home insurance rates. The following are the rates in various cities.
| City | Average annual rate |
|---|---|
| Abell | $1,626 |
| Aberdeen | $1,469 |
| Aberdeen Proving Ground | $1,487 |
| Abingdon | $1,487 |
| Accident | $1,267 |
| Accokeek | $1,483 |
| Adamstown | $1,059 |
| Adelphi | $1,411 |
| Algonquin | $1,815 |
| Allen | $1,769 |
| Andrews AFB | $1,479 |
| Annapolis | $1,386 |
| Annapolis Junction | $1,214 |
| Annapolis Neck | $1,338 |
| Aquasco | $1,499 |
| Arbutus | $1,429 |
| Arden on the Severn | $1,344 |
| Arnold | $1,340 |
| Ashton | $1,143 |
| Aspen Hill | $1,136 |
| Avenue | $1,600 |
| Baden | 1532 |
| Baldwin | $1,439 |
| Ballenger Creek | $1,065 |
| Baltimore | $1,783 |
| Barclay | $1,471 |
| Barnesville | $1,188 |
| Barstow | $1,378 |
| Barton | $1,239 |
| Beallsville | $1,180 |
| Bel Air | $1,457 |
| Bel Air North | $1,464 |
| Bel Air South | $1,462 |
| Bel Alton | $1,471 |
| Belcamp | $1,485 |
| Beltsville | $1,398 |
| Benedict | $1,451 |
| Benson | $1,473 |
| Bensville | $1,433 |
| Berlin | $2,117 |
| Berwyn Heights | $1,417 |
| Bethesda | $1,137 |
| Bethlehem | $1,831 |
| Betterton | 1507 |
| Big Pool | $1,169 |
| Bishopville | $1,995 |
| Bittinger | $1,259 |
| Bivalve | $1,823 |
| Bladensburg | $1,669 |
| Bloomington | $1,245 |
| Boonsboro | $1,177 |
| Boring | $1,417 |
| Bowie | $1,427 |
| Bowleys Quarters | $1,472 |
| Bowmans Addition | $1,249 |
| Boyds | $1,154 |
| Bozman | $1,640 |
| Braddock Heights | $1,068 |
| Brandywine | $1,533 |
| Brentwood | $1,659 |
| Brinklow | $1,167 |
| Brookeville | $1,177 |
| Brooklandville | $1,406 |
| Brooklyn | $1,871 |
| Brooklyn Park | $1,478 |
| Brookmont | 1138 |
| Broomes Island | $1,415 |
| Brownsville | $1,447 |
| Brunswick | $1,077 |
| Bryans Road | $1,475 |
| Bryantown | $1,456 |
| Buckeystown | $1,072 |
| Burkittsville | $1,079 |
| Burtonsville | $1,172 |
| Bushwood | $1,625 |
| Butler | $1,414 |
| Cabin John | $1,147 |
| California | $1,551 |
| Callaway | $1,558 |
| Calverton | $1,389 |
| Cambridge | $1,829 |
| Camp Springs | $1,568 |
| Capitol Heights | $1,707 |
| Carney | $1,389 |
| Cascade | $1,186 |
| Catonsville | $1,418 |
| Cavetown | $1,169 |
| Cecilton | 1609 |
| Cedarville | $1,534 |
| Centreville | $1,485 |
| Chance | $2,064 |
| Chaptico | $1,542 |
| Charlestown | $1,676 |
| Charlotte Hall | $1,552 |
| Chase | $1,432 |
| Cheltenham | $1,438 |
| Chesapeake Beach | $1,454 |
| Chesapeake City | $1,636 |
| Chesapeake Ranch Estates | $1,465 |
| Chester | $1,529 |
| Chestertown | $1,474 |
| Cheverly | $1,675 |
| Chevy Chase | $1,132 |
| Chevy Chase Section Five | $1,119 |
| Chevy Chase Section Three | $1,119 |
| Chevy Chase View | $1,131 |
| Chevy Chase Village | $1,138 |
| Chewsville | $1,447 |
| Childs | $1,619 |
| Chillum | 1403 |
| Church Creek | $1,847 |
| Church Hill | $1,494 |
| Churchton | $1,403 |
| Churchville | $1,457 |
| Claiborne | $1,867 |
| Clarksburg | $1,164 |
| Clarksville | $1,179 |
| Clear Spring | $1,150 |
| Clements | $1,575 |
| Clinton | $1,501 |
| Cobb Island | $1,604 |
| Cockeysville | $1,406 |
| Colesville | $1,152 |
| College Park | $1,412 |
| Colmar Manor | $1,663 |
| Colora | $1,638 |
| Coltons Point | $1,601 |
| Columbia | $1,169 |
| Compton | $1,576 |
| Conowingo | $1,630 |
| Cooksville | $1,198 |
| Coral Hills | 1708 |
| Cordova | $1,568 |
| Corriganville | $1,240 |
| Cottage City | $1,660 |
| Crapo | $1,969 |
| Cresaptown | $1,257 |
| Crisfield | $2,103 |
| Crocheron | $2,069 |
| Crofton | $1,334 |
| Croom | $1,534 |
| Crownsville | $1,345 |
| Crumpton | $1,489 |
| Cumberland | $1,239 |
| Curtis Bay | $1,405 |
| Damascus | $1,192 |
| Dameron | $1,664 |
| Dames Quarter | $1,906 |
| Darlington | $1,482 |
| Darnestown | $1,174 |
| Davidsonville | $1,358 |
| Dayton | $1,182 |
| Deal Island | $1,967 |
| Deale | 1408 |
| Deer Park | $1,279 |
| Delmar | $1,832 |
| Denton | $1,537 |
| Derwood | $1,179 |
| Dickerson | $1,134 |
| District Heights | $1,673 |
| Dowell | $1,443 |
| Drayden | $1,583 |
| Drum Point | $1,464 |
| Dundalk | $1,424 |
| Dunkirk | $1,411 |
| Earleville | $1,648 |
| East New Market | $1,769 |
| East Riverdale | $1,613 |
| Easton | $1,581 |
| Eckhart Mines | $1,242 |
| Eden | $1,986 |
| Edgemere | $1,460 |
| Edgewater | $1,346 |
| Edgewood | $1,497 |
| Edmonston | $1,611 |
| Eldersburg | 1167 |
| Elk Mills | $1,603 |
| Elkridge | $1,206 |
| Elkton | $1,653 |
| Ellerslie | $1,248 |
| Ellicott City | $1,204 |
| Emmitsburg | $1,060 |
| Essex | $1,401 |
| Ewell | $2,278 |
| Fairland | $1,174 |
| Fairmount Heights | $1,700 |
| Fairplay | $1,164 |
| Fairwood | $1,421 |
| Fallston | $1,465 |
| Faulkner | $1,487 |
| Federalsburg | $1,578 |
| Ferndale | $1,379 |
| Finksburg | $1,167 |
| Fishing Creek | $1,962 |
| Flintstone | $1,246 |
| Forest Heights | $1,583 |
| Forest Hill | $1,446 |
| Forestville | 1666 |
| Fork | $1,407 |
| Fort Howard | $1,496 |
| Fort Meade | $1,344 |
| Fort Washington | $1,516 |
| Fountainhead-Orchard Hills | $1,155 |
| Four Corners | $1,144 |
| Frederick | $1,067 |
| Freeland | $1,397 |
| Friendly | $1,522 |
| Friendship | $1,362 |
| Friendship Heights Village | $1,141 |
| Friendsville | $1,262 |
| Frostburg | $1,238 |
| Fruitland | $1,844 |
| Fulton | $1,189 |
| Funkstown | $1,170 |
| Gaithersburg | $1,183 |
| Galena | $1,485 |
| Galesville | $1,652 |
| Gambrills | $1,350 |
| Gapland | $1,192 |
| Garrett Park | 1140 |
| Garrison | $1,431 |
| Germantown | $1,176 |
| Gibson Island | $1,422 |
| Girdletree | $2,367 |
| Glassmanor | $1,583 |
| Glen Arm | $1,431 |
| Glen Burnie | $1,379 |
| Glen Echo | $1,151 |
| Glenarden | $1,470 |
| Glenelg | $1,170 |
| Glenn Dale | $1,447 |
| Glenwood | $1,185 |
| Glyndon | $1,417 |
| Goldsboro | $1,543 |
| Grahamtown | $1,237 |
| Grantsville | $1,249 |
| Grasonville | $1,516 |
| Great Mills | $1,552 |
| Greenbelt | $1,419 |
| Greensboro | $1,540 |
| Gunpowder | $1,493 |
| Gwynn Oak | 1454 |
| Hagerstown | $1,158 |
| Halethorpe | $1,445 |
| Halfway | $1,161 |
| Hampstead | $1,185 |
| Hampton | $1,406 |
| Hancock | $1,165 |
| Hanover | $1,315 |
| Harmans | $1,330 |
| Harwood | $1,372 |
| Havre De Grace | $1,461 |
| Hebron | $1,875 |
| Helen | $1,537 |
| Henderson | $1,507 |
| Herald Harbor | $1,347 |
| Highland | $1,177 |
| Hillandale | $1,291 |
| Hillcrest Heights | $1,590 |
| Hillsboro | $1,813 |
| Hollywood | $1,525 |
| Hughesville | $1,497 |
| Hunt Valley | $1,427 |
| Huntingtown | 1441 |
| Hurlock | $1,780 |
| Hyattsville | $1,583 |
| Hydes | $1,436 |
| Ijamsville | $1,075 |
| Ilchester | $1,190 |
| Indian Head | $1,478 |
| Ingleside | $1,498 |
| Ironsides | $1,483 |
| Issue | $1,553 |
| Jarrettsville | $1,449 |
| Jefferson | $1,072 |
| Jessup | $1,264 |
| Joppa | $1,488 |
| Keedysville | $1,164 |
| Kemp Mill | $1,156 |
| Kennedyville | $1,477 |
| Kensington | $1,143 |
| Kettering | $1,504 |
| Keymar | $1,095 |
| Kingsville | $1,425 |
| Kitzmiller | $1,252 |
| Knoxville | 1120 |
| Konterra | $1,392 |
| La Plata | $1,501 |
| La Vale | $1,245 |
| Ladiesburg | $1,328 |
| Lake Arbor | $1,535 |
| Lake Shore | $1,441 |
| Landover | $1,686 |
| Landover Hills | $1,622 |
| Langley Park | $1,399 |
| Lanham | $1,481 |
| Lanham Seabrook | $1,457 |
| Lansdowne | $1,440 |
| Largo | $1,507 |
| Laurel | $1,328 |
| Laytonsville | $1,185 |
| Leitersburg | $1,164 |
| Leonardtown | $1,566 |
| Lexington Park | $1,596 |
| Libertytown | $1,317 |
| Lineboro | $1,160 |
| Linganore | $1,073 |
| Linkwood | 1769 |
| Linthicum | $1,376 |
| Linthicum Heights | $1,358 |
| Lisbon | $1,151 |
| Little Orleans | $1,240 |
| Lochearn | $1,457 |
| Lonaconing | $1,242 |
| Long Green | $1,433 |
| Lothian | $1,385 |
| Loveville | $1,526 |
| Luke | $1,247 |
| Lusby | $1,473 |
| Lutherville | $1,376 |
| Lutherville Timonium | $1,380 |
| Maddox | $1,542 |
| Madison | $1,863 |
| Manchester | $1,183 |
| Manokin | $1,820 |
| Marbury | $1,477 |
| Mardela Springs | $1,839 |
| Marion Station | $1,807 |
| Marlow Heights | $1,590 |
| Marriottsville | 1262 |
| Marydel | $1,511 |
| Maryland City | $1,311 |
| Maryland Line | $1,408 |
| Massey | $1,456 |
| Maugansville | $1,169 |
| Mayo | $1,346 |
| McHenry | $1,264 |
| McDaniel | $1,657 |
| Mechanicsville | $1,523 |
| Middle River | $1,436 |
| Middletown | $1,066 |
| Midlothian | $1,243 |
| Milford Mill | $1,460 |
| Millersville | $1,348 |
| Millington | $1,475 |
| Mitchellville | $1,496 |
| Monkton | $1,447 |
| Monrovia | $1,110 |
| Montgomery Village | $1,159 |
| Morganza | $1,507 |
| Morningside | $1,646 |
| Mount Aetna | 1162 |
| Mount Airy | $1,126 |
| Mount Lena | $1,176 |
| Mount Rainier | $1,463 |
| Mount Savage | $1,232 |
| Mount Vernon | $1,744 |
| Mount Victoria | $1,519 |
| Mountain Lake Park | $1,269 |
| Myersville | $1,082 |
| Nanjemoy | $1,481 |
| Nanticoke | $1,931 |
| National Harbor | $1,542 |
| Naval Academy | $1,342 |
| Neavitt | $1,881 |
| New Carrollton | $1,600 |
| New Market | $1,078 |
| New Midway | $1,327 |
| New Windsor | $1,157 |
| Newark | $2,268 |
| Newburg | $1,532 |
| Newcomb | $1,821 |
| North Beach | $1,461 |
| North Bethesda | 1133 |
| North East | $1,653 |
| North Kensington | $1,140 |
| North Potomac | $1,162 |
| Nottingham | $1,407 |
| Oakland | $1,275 |
| Ocean City | $2,262 |
| Ocean Pines | $2,109 |
| Odenton | $1,345 |
| Oldtown | $1,238 |
| Olney | $1,178 |
| Overlea | $1,432 |
| Owings | $1,407 |
| Owings Mills | $1,417 |
| Oxford | $1,621 |
| Oxon Hill | $1,551 |
| Paramount-Long Meadow | $1,156 |
| Park Hall | $1,588 |
| Parkton | $1,403 |
| Parkville | $1,382 |
| Parole | $1,336 |
| Parsonsburg | $1,873 |
| Pasadena | 1425 |
| Patuxent River | $1,590 |
| Peppermill Village | $1,698 |
| Perry Hall | $1,423 |
| Perry Point | $1,628 |
| Perryman | $1,492 |
| Perryville | $1,640 |
| Phoenix | $1,439 |
| Pikesville | $1,475 |
| Piney Point | $1,644 |
| Pinto | $1,246 |
| Pittsville | $1,790 |
| Pleasant Hills | $1,462 |
| Pocomoke City | $1,912 |
| Point of Rocks | $1,076 |
| Pomfret | $1,492 |
| Poolesville | $1,232 |
| Port Deposit | $1,624 |
| Port Republic | $1,461 |
| Port Tobacco | $1,480 |
| Potomac | $1,130 |
| Potomac Heights | $1,472 |
| Potomac Park | 1245 |
| Powellville | $1,772 |
| Preston | $1,571 |
| Price | $1,523 |
| Prince Frederick | $1,461 |
| Princess Anne | $1,743 |
| Pylesville | $1,443 |
| Quantico | $1,878 |
| Queen Anne | $1,511 |
| Queenstown | $1,501 |
| Randallstown | $1,474 |
| Rawlings | $1,247 |
| Redland | $1,185 |
| Rehobeth | $1,817 |
| Reisterstown | $1,400 |
| Rhodesdale | $1,761 |
| Riderwood | $1,410 |
| Ridge | $1,695 |
| Ridgely | $1,534 |
| Rising Sun | $1,627 |
| Riva | $1,338 |
| Riverdale | $1,651 |
| Riverdale Park | 1630 |
| Riviera Beach | $1,418 |
| Robinwood | $1,155 |
| Rock Hall | $1,524 |
| Rock Point | $1,491 |
| Rockville | $1,138 |
| Rocky Ridge | $1,083 |
| Rohrersville | $1,192 |
| Rosedale | $1,445 |
| Rossville | $1,424 |
| Royal Oak | $1,653 |
| Sabillasville | $1,077 |
| Saint Inigoes | $1,659 |
| Saint Leonard | $1,448 |
| Saint Marys | $1,625 |
| Saint Marys City | $1,625 |
| Salisbury | $1,846 |
| Sandy Spring | $1,147 |
| Savage | $1,202 |
| Scaggsville | $1,187 |
| Scotland | $1,692 |
| Seabrook | $1,454 |
| Seat Pleasant | 1701 |
| Secretary | $1,747 |
| Severn | $1,339 |
| Severna Park | $1,366 |
| Shady Side | $1,406 |
| Sharpsburg | $1,165 |
| Sharptown | $1,764 |
| Sherwood | $1,682 |
| Sherwood Forest | $1,338 |
| Showell | $1,929 |
| Silver Hill | $1,665 |
| Silver Spring | $1,159 |
| Simpsonville | $1,201 |
| Smithsburg | $1,166 |
| Snow Hill | $1,978 |
| Solomons | $1,435 |
| Somerset | $1,136 |
| South Kensington | $1,138 |
| South Laurel | $1,397 |
| Sparks Glencoe | $1,436 |
| Sparrows Point | $1,491 |
| Spencerville | $1,161 |
| Spring Gap | 1246 |
| Spring Ridge | $1,069 |
| Springdale | $1,481 |
| St. James | $1,161 |
| St. Michaels | $1,613 |
| Stevenson | $1,418 |
| Stevensville | $1,526 |
| Still Pond | $1,494 |
| Stockton | $2,330 |
| Street | $1,471 |
| Sudlersville | $1,480 |
| Suitland | $1,672 |
| Sunderland | $1,480 |
| Swanton | $1,272 |
| Sykesville | $1,165 |
| Takoma Park | $1,168 |
| Tall Timbers | $1,611 |
| Taneytown | $1,162 |
| Taylors Island | $1,891 |
| Temple Hills | $1,572 |
| Templeville | $1,560 |
| Thurmont | $1,064 |
| Tilghman | 1702 |
| Tilghmanton | $1,181 |
| Timonium | $1,374 |
| Toddville | $1,874 |
| Towson | $1,407 |
| Tracys Landing | $1,384 |
| Trappe | $1,599 |
| Travilah | $1,139 |
| Trego-Rohrersville Station | $1,173 |
| Tuscarora | $1,081 |
| Tyaskin | $1,836 |
| Tylerton | $1,928 |
| Union Bridge | $1,149 |
| Unionville | $1,330 |
| University Park | $1,406 |
| Upper Fairmount | $1,753 |
| Upper Falls | $1,441 |
| Upper Hill | $1,753 |
| Upper Marlboro | $1,496 |
| Upperco | $1,411 |
| Urbana | $1,078 |
| Valley Lee | $1,603 |
| Vienna | 1813 |
| Waldorf | $1,466 |
| Walker Mill | $1,690 |
| Walkersville | $1,056 |
| Warwick | $1,630 |
| Washington Grove | $1,197 |
| Welcome | $1,469 |
| Wenona | $2,064 |
| West Friendship | $1,181 |
| West Laurel | $1,390 |
| West Ocean City | $2,393 |
| West River | $1,406 |
| Westernport | $1,237 |
| Westminster | $1,168 |
| Westover | $1,771 |
| Westphalia | $1,677 |
| Whaleyville | $1,913 |
| Wheaton | $1,148 |
| White Hall | $1,426 |
| White Marsh | $1,445 |
| White Oak | $1,162 |
| White Plains | $1,469 |
| Whiteford | 1446 |
| Willards | $1,808 |
| Williamsport | $1,160 |
| Wilson-Conococheague | $1,166 |
| Windsor Mill | $1,478 |
| Wingate | $2,070 |
| Wittman | $1,657 |
| Woodbine | $1,219 |
| Woodlawn | $1,454 |
| Woodmore | $1,530 |
| Woodsboro | $1,065 |
| Woodstock | $1,207 |
| Woolford | $1,892 |
| Worton | $1,492 |
| Wye Mills | $1,598 |
Home and auto insurance bundling in Maryland
How can you lower the rate of home insurance in Maryland? One way is by combining your auto insurance and home insurance policies.
| Average annual rate (without bundling) | Average annual rate (with bundling) | Yearly savings (in $) | Yearly savings (in percent) |
|---|---|---|---|
| $1,389 | $1268 | $121 | 8.7% |
Home insurance discounts in Maryland
Do you want to lower the Maryland homeowners insurance rates? Then use the discounts that the insurer offers in the state.
| Insurer | Bundling Discounts | Loyalty Discounts | Military Discounts | New Home Credit Discounts | Claim-Free Discounts | Protective Devices Discounts |
|---|---|---|---|---|---|---|
| Farmers | ✓ | ✓ | - | ✓ | ✓ | ✓ |
| All state | ✓ | ✓ | - | ✓ | ✓ | - |
| State Farm | ✓ | - | - | - | ✓ | ✓ |
| USAA | ✓ | ✓ | ✓ | - | ✓ | ✓ |
| Nationwide | ✓ | - | - | ✓ | ✓ | ✓ |
| Liberty Mutual | ✓ | - | - | - | - | - |
| Progressive | ✓ | - | - | ✓ | - | ✓ |
| Amica | ✓ | - | - | ✓ | ✓ | ✓ |
| Chubb | ✓ | - | - | ✓ | ✓ | ✓ |
| Erie | ✓ | - | - | - | -> | ✓ |
| Lemonade | ✓ | ✓ | - | - | - | ✓ |
Comparing common features across top companies
Do you want to know the best Maryland home insurance companies? Then check these features.
| Insurer | Identity Theft Protection | Valuable Possessions | Water Backup | Other Structures Coverage | Dwelling /Personal Property Replacement |
|---|---|---|---|---|---|
| Farmers | Optional | ✓ | No | Optional | Optional |
| Allstate | Optional | Optional | Optional | ✓ | Optional |
| State Farm | Optional | Optional | Optional | ✓ | Optional |
| USAA | ✓ | Optional | No | ✓ | ✓ |
| Nationwide | Optional | Optional | Optional | ✓ | Optional |
| Liberty Mutual | Optional | Optional | Optional | ✓ | Optional |
| Progressive | No | Optional | Optional | ✓ | ✓ |
| Amica | Optional | Optional | Optional | ✓ | Optional |
| Chubb | Optional | Optional | ✓ | ✓ | ✓ |
| Erie | Optional | Optional | Optional | ✓ | ✓ |
| Lemonade | ✓ | Optional | Optional | ✓ | ✓ |
Common causes of home insurance claims in Maryland
If you live in Maryland, you should know the types of losses that could affect your home and property. These are a few reasons that cause home insurance claims in the state.
- Water: If water enters through a damaged roof or siding, these storms could cause water damage to homes. Water damage can also occur when pipes freeze and burst during cold winters or when water backs up into a drain line during heavy rains.
- Fire: Damage from fires can happen for many reasons and can be severe.
- Hurricanes: Maryland is vulnerable to hurricanes because of its location on the coast. According to the Insurance Information Institute (IIS), over four million Maryland homes risk storm damage from Category 1-5 hurricanes.
- Burglary and theft: More than 70,000 theft crimes happened in the state in 2020. So, you better have coverage for your home to get protection in the case of theft.
Does homeowners insurance cover flooding in Maryland?
A home insurance policy does not cover flood damage. Purchase flood insurance through FEMA’s National Flood Insurance Program (NFIP) or a private insurer to protect your home from flood damage. Private flood insurance coverage varies, but NFIP offers the following coverage.
- Your home’s structure - $250,000
- Personal property - $100,000
Factors that affect home insurance rates in Maryland
Do you want to buy the best homeowners insurance in Maryland? Then look for these factors before getting one.
- Your location: Your ZIP Code and the theft rate in your area impact Maryland’s homeowners insurance cost.
- Replacement cost: Maryland home insurance costs vary based on local labor and construction material costs.
- Age/condition: Newer properties are cheaper to insure than older properties
- Claims history: If you file claims frequently, insurers will consider you a risk. Expect your insurance premiums to rise as a result.
- Credit history: Most insurance companies will check your credit score before providing you with a home insurance policy. If your credit score is lower, you should expect to pay more for Maryland homeowners insurance.
- Dog breed: Many insurers classify certain dog breeds as ‘dangerous.’ If your insurer considers so, the cost of home insurance in Maryland will increase.
Tips for buying homeowners insurance
Are you looking to find the best home insurance companies in Maryland? Then follow these tips!
- Assess your rebuilding costs: Speak with an insurance agent or a builder to determine how much it would cost to reconstruct your home using low-cost building materials and local labor.
- Review the advantage of replacement cost over actual cash value: You may need to buy replacement cost insurance for your home and other possessions.
- Consider add-on coverage for your expensive items: Opt for personal property coverage if you own expensive items such as high-end electronics, sporting equipment, musical instruments, or antiques.
- Evaluate your liability coverage needs: Calculate your required minimum liability insurance.
- Assess coverage gaps: Many insurers offer high coverage limits for landscaping elements such as trees and bushes.
- Check financial ratings: All home insurers can obtain ratings from organizations such as AM Best and Standard & Poor’s. Some firms, for instance, will not allow you to apply for a mortgage if your insurer does not have a minimum ‘A’ financial strength rating.
- Check for discounts: Ensure to use all the discounts the insurer offers that you qualify for.
- Compare quotes from various insurance companies: Maryland home insurance costs vary depending on the insurer. You must compare quotes from several insurance companies to find Maryland's best home insurance policy.
Most common disasters in Maryland
Compared to other states, Maryland homeowners do not face several disasters. Flooding is the most common disaster the residents face. Hurricanes, extreme snowfall and snowstorms, and severe storms are other issues that affect the state.
Disasters by month
According to FEMA, the state faced most disasters in March and September.
| Month | Number of disasters |
|---|---|
| January | 3 |
| February | 1 |
| March | 7 |
| April | 2 |
| May | 2 |
| June | 2 |
| July | 2 |
| August | 4 |
| September | 8 |
| October | 4 |
| November | 1 |
| December | 0 |
Disasters by year
According to FEMA, with three disasters each, 2011 and 2012 were the busiest years for the state.
| Year | Number of disasters |
|---|---|
| 2001 | 0 |
| 2002 | 1 |
| 2003 | 2 |
| 2004 | 0 |
| 2005 | 1 |
| 2006 | 1 |
| 2007 | 0 |
| 2008 | 0 |
| 2009 | 0 |
| 2010 | 2 |
| 2011 | 3 |
| 2012 | 3 |
| 2013 | 0 |
| 2014 | 1 |
| 2015 | 0 |
| 2016 | 0 |
| 2017 | 0 |
| 2018 | 2 |
| 2019 | 0 |
| 2020 | 2 |
How to get Maryland home insurance with Way.com
The average home insurance cost in Maryland comes to around $1,389 annually. You can even get a homeowners insurance policy for even lower rates. But how is that possible? That’s where Way.com becomes your savior!
You have to use our website or app to get quotes from all insurers in Maryland. Then you must compare all these quotes and buy a policy with the most affordable quote. Do you need extra help? Then our agents in the state can guide you. They will help you understand the most complex Maryland homeowners insurance laws, terms, coverages, and discounts.
FAQs
Is homeowners insurance required in Maryland?
The law doesn’t mandate having homeowners insurance in Maryland or other states. But if you have a mortgage loan on your home, your lender will almost certainly require you to obtain home insurance. It is worth noting, however, that having a policy in place may be beneficial even if your mortgage gets paid off or you bought the property with cash.
How much is homeowners insurance in Maryland?
On average, homeowners insurance in Maryland costs around $1,389 yearly.
How do I get homeowners insurance in Maryland?
You must first get home insurance quotes in Maryland. You can do so by using an online quoting tool, calling an insurance company, or visiting a local agency. You’ll need your address, date of birth, the year of construction, and an idea of the coverage you want to buy. You may also require information about the features of your home, such as whether you have upgraded kitchen cabinets or custom features.
Once you get a quote and proceed to buy, a company representative will inform you of the next steps. Unless you paid for your policy through your escrow account and billed to your mortgage company, the process will involve signing an application and making a premium payment.
Access your digital insurance card through the app. You no longer need to carry your physical insurance card with you.
Receive reminders before your renewal. Way.com will also send new quotes from up to 45 insurance companies with your renewal reminder.
Keep everyone on your policy up to date by sharing your insurance information.
Make changes to your policy right from the app (coming soon) and ask for expert advice.
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