Maryland Homeowners Insurance Quotes (2024)

Nationwide and State Auto offer some of the best homeowners insurance policies in Maryland.

Choncé Maddox
Written byChoncé Maddox
Choncé Maddox
Choncé Maddox
  • 7+ years writing insurance and personal finance content

  • Certified financial education instructor (CFEI)

Choncé was a licensed life insurance agent before becoming a freelance personal finance writer. She’s passionate about helping people learn to protect themselves with insurance.

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Chris Schafer
Edited byChris Schafer
Chris Schafer
Chris SchaferSenior Editor
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Andrew Huang
Data reviewed byAndrew Huang
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Andrew HuangVice President, Performance Marketing
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Andrew applies his vast knowledge of analytics and insurance industry trends to help inform Insurify’s content and marketing efforts.

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Updated April 19, 2023 at 12:00 PM PDT

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Best home insurance companies in Maryland

Many quality insurance companies serve homeowners in Maryland, including Liberty Mutual, Travelers, and State Auto. Finding the best home insurance company for you will depend on your situation and needs.

Here are some of the best options in Maryland based on unique criteria.

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Best large insurer: Nationwide

Nationwide was founded in 1926. It offers dwelling, personal property, personal liability, and other structures of coverage for homeowners.

Nationwide has a J.D. Power score of 816 out of 1,000 points, which means its customer satisfaction is high.[1] In addition to offering a wide range of coverage and optional protection, Nationwide also offers several discount opportunities to lower your premium. The average Nationwide customer pays a monthly premium of $157.

Pros
  • Larger insurer that offers several coverage options and optional protection

  • Several discount opportunities

  • Free annual consultation

Cons
  • Certain policy and discount features aren’t available in every state

  • Coverage for high-value items not included in basic coverage

  • Must add coverage for roof replacement with more modern materials

Best insurer for cheap rates: State Auto

State Auto has the cheapest rates for home insurance in Maryland, with an average monthly rate of $91. State Auto offers three main home insurance coverage policies and several optional coverages. Enrolling in State Auto coverage allows you to enjoy discounts for fortifying your home against severe weather events, getting a quote in advance, and having a home with protective anti-theft devices.[2]

Pros
  • Three levels of coverage to choose from

  • Lowest prices in Maryland

  • Offers several discounts

Cons
  • Doesn’t have a J.D. Power score

  • Has some unresolved negative reviews and customer complaints[3]

  • Earthquake coverage not included in basic plan

Best for severe hail and wind coverage: Liberty Mutual

Hail, wind, and hurricane coverage can be part of your standard policy with Liberty Mutual. The company has good customer satisfaction ratings, with a J.D. Power score of 805.[1]

You can also get a quote directly on the website, and Liberty Mutual is very transparent about included coverages and optional protections you may want to consider. Customers pay an average of $127 per month for coverage from Liberty Mutual.

Pros
  • Transparent with coverage options online

  • High customer satisfaction rating

  • National provider means you can get coverage almost anywhere

Cons
  • Replacement cost coverage is optional

  • J.D. Power score is lower than many competitors

  • Lacks the boutique feel of a smaller insurer

Best insurer for high-value homes: Stillwater

Stillwater is an insurance company founded in 2000 as the Fidelity National Property and Casualty Insurance Group. Stillwater provides coverage that includes extended replacement cost coverage, which could be essential to owners of high-value homes. This insurer also extends coverage to seasonal homes. Users pay an average monthly premium of $132.

Pros
  • Flexible, customizable coverage options

  • Insures seasonal homes

  • Able to request a quote online

Cons
  • Doesn’t have a J.D. Power score

  • Coverage is more expensive than some other providers

  • Middling customer reviews4

Best regional insurance company: Erie

Erie has been around since 1925 and serves homeowners in 12 states, including Maryland. Erie provides 24/7 claims support to customers and discounts for bundling home insurance with auto insurance.

Erie has a J.D. Power score of 827 and has ranked No. 1 in independent agent satisfaction among personal lines insurers for the second year in a row.

Pros
  • Offers guaranteed replacement cost on standard policies

  • Provides multi-policy discounts to save you 16% to 25% on insurance premiums

  • 24/7 online claim support

Cons
  • Must work with a local agent to get a quote or buy a policy

  • Low standard coverage amounts for cash and precious metals

  • Not many add-on coverage options

Methodology

To evaluate home insurance companies, Insurify data scientists and editorial team analyze multiple factors that reflect a company’s quality, reliability, and financial health. We consider industry ratings and information from sources like A.M. Best, Standard & Poor’s, Moody’s and Fitch, and J.D. Power. We evaluate customer service and satisfaction data, customer reviews, NAIC complaint indexes, claims payout rates, company reputation and proprietary quoting data.

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How much is homeowners insurance in Maryland?

Several factors influence home insurance prices, including your location, previous claims history, and the type of home insurance policy you select.

How your policy choices affect home insurance rates in Maryland

Here, you’ll see how the choices you make on several key components of your coverage can affect your premiums.

Your policy form

Several types of homeowners insurance policies exist, but the most common is HO-3. An HO-3 protects against damage to the structure of your home and your personal belongings, and it also provides liability coverage.

Different home insurance policies cover different perils. Perils are events that lead to damage to your property or personal belongings. Many perils are related to natural disasters or circumstances outside of your control, such as wind, hail, tornadoes, hurricanes, fires, lightning, vandalism, theft, and falling objects.

Each type of home insurance policy covers perils differently, and this will influence your insurance rate. HO-3 policies cover a broad range of at least 16 different perils but exclude flood damage. HO-2 policies have more coverage limits than HO-3, and HO-5 policies are more expensive but cover all perils except those specifically excluded in your policy.

Before you purchase a home insurance policy, always check your perils to confirm what your policy does and doesn’t cover.

Learn More: Understanding the 8 Types of Homeowners Insurance

Your coverage level

When you choose a higher coverage level, you will usually pay a higher insurance premium. That’s why knowing the value of your home is a good starting point when trying to determine how much coverage you need.

Some insurance companies pay out claims based on your home’s actual cash value, which deducts the depreciation of your home. Other companies base the payment on your home’s replacement cost, which doesn’t consider depreciation when factoring in the cost to rebuild or replace your home.

A policy that pays claims based on replacement cost value may cost more, but it will generally provide more coverage.

Your deductible

Your deductible is the amount of money you’re expected to pay before your insurance coverage kicks in. When you file a claim, you have to pay your deductible before you receive any insurance support. Having a higher deductible could lower your insurance premiums, but it also means you’d need to pay more out of pocket when you file a claim. That’s why it’s important to never set a deductible so high you can’t pay it if the need arises.

How location affects home insurance rates in Maryland

Different states can have different insurance prices. The same is true for different ZIP codes within a single state. Some location-related factors that can influence home insurance quotes include weather events in the area, the rate of theft and vandalism within a community, and even a home’s distance from the local fire station.

The table below shows the average cost of home insurance in several Maryland cities.

CityAverage Monthly Quote
Baltimore$166
Bel Air$155
Bowie$190
Clinton$180
Ellicott City$168
Fort Washington$180
Germantown$134
Rockville$138
Silver Spring$128
Temple Hills$190
Upper Marlboro$190
Waldorf$151
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers. Actual quotes may vary based on the policy buyer's unique driver profile.

What are the cheapest home insurance companies in Maryland?

The cheapest insurers for home insurance in Maryland are State Auto, Travelers, and Liberty Mutual. Among these three insurers, the average monthly quote ranges from $94 to $127, compared to the state average of $155.

Below are some of the cheapest providers. Keep in mind that your coverage needs may result in a more expensive quote.

Insurance CompanyAverage Monthly Quote
State Auto$91
Travelers$94
Liberty Mutual$127
Stillwater$132
Hippo$138
Midvale Home & Auto$141
Nationwide$157
CSAA$200
Safeco$331
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers. Actual quotes may vary based on the policy buyer's unique driver profile.

How much homeowners insurance do you need in Maryland?

It depends. If you take out a mortgage on your home, your lender will usually require you to purchase a home insurance policy.

Before buying a home insurance policy, make sure you understand exactly what it covers. This gives you the opportunity to decide up front if you want to purchase any additional coverage options.

What home insurance coverages should you buy in Maryland?

Most home insurance policies include any or all of the following coverages:

  • illustration card https://a.storyblok.com/f/162273/100x100/c922a01b77/house.svg

    Dwelling

    Covers physical and structural damage to your house and attached structures. You can choose your own limit for dwelling coverage whether your insurer provides actual cash value or replacement cost protection.

  • illustration card https://a.storyblok.com/f/162273/100x100/32ed42213e/personal-property.svg

    Personal property

    This coverage pays to replace personal property in your home caused by damages. The level of personal property coverage is usually 50% of your dwelling coverage limit.

  • car in carage

    Other structures

    Covers damage to detached structures, like a detached garage or shed. This coverage level is usually 10% of your dwelling coverage limit.

  • illustration card https://a.storyblok.com/f/162273/x/f2ca9fa443/protection-for-passengers.svg

    Personal liability

    Protects you against financial losses if you’re sued by someone else for damages or injuries incurred on your property and you’re found legally responsible.

  • illustration card https://a.storyblok.com/f/162273/100x100/e5213a7025/loss-of-use.svg

    Additional living expenses (ALE)

    Covers your temporary living costs if you need to move somewhere while your home is being repaired or rebuilt. This coverage can cover hotel bills, restaurant meals, and other costs you have due to the disruption caused by not being able to live in your home.

  • illustration card https://a.storyblok.com/f/162273/x/4c9753bdbe/medical-payments.svg

    Medical expenses

    Covers medical bills if someone is hurt on your property due to a covered peril or injured by one of your pets.

What optional home insurance coverages should you buy in Maryland?

Maryland homeowners may want to consider additional coverages since basic home insurance does have some exclusions. Below are some common optional coverages to explore.

  • Flood insurance: Most standard home insurance policies don’t include flood coverage. During thunderstorm season, the risk of rising water and flooding is common. You can obtain a separate flood insurance policy through some private insurers or the government’s National Flood Insurance Program.

  • Wind/hail: Most standard home insurance policies include windstorm and hail damage, but in some coastal areas, this coverage is limited or even excluded. If you don’t have hail or wind coverage, ask your insurer about getting an endorsement or consider a separate policy for this.

  • Earthquake: Maryland has been at the epicenter of an earthquake 66 times since 1758. While it’s not extremely common, you may want to consider a separate earthquake insurance policy since this coverage isn’t included for standard policies.

  • Sewer and drain backup insurance: Most home insurance policies offer little to no coverage for damage to your home caused by a sewer or drain backup, so you may need to get an endorsement or buy a separate policy.

How much home insurance coverage should you have in Maryland?

Everyone has different needs when it comes to finding the right home insurance policy. To determine how much coverage you may need, consider factors like the value of your home, the potential for natural disasters, and other hazards, along with how they may impact your home.

For example, if you run a small business out of your home or have lots of computers and electronics, damage from vandalism or your being a victim of burglary could have an even more drastic effect on your ability to not only live in your home but earn a living.

You should also decide if you need any optional coverages, such as flood insurance or windstorm or hail coverage.

Lastly, determine any optional coverages you may want or need, whether it’s flood insurance or additional windstorm or hail coverage. Start comparing quotes from different insurers to make sure you can get the best price for your coverage needs. Some insurers may include more in a standard home insurance policy, so be sure to gather at least three different quotes.

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What are some of the biggest risks when owning a home in Maryland?

All locations have their potential perils. Here are some of the biggest risks to think about when owning a home in Maryland.

  • illustration card https://a.storyblok.com/f/162273/x/1883c5aa7c/fire-and-lighting.svg

    Wildfires

    More than 5,000 wildfires occur in Maryland each year, burning several thousand acres. Standard home insurance usually covers damage due to fire and lightning.

  • illustration card https://a.storyblok.com/f/162273/x/3193988b16/vandalism.svg

    Theft/vandalism

    Crime rates are higher in counties like Baltimore City or Prince George’s County, and, while most standard policies include theft and vandalism, you’ll want to check your coverage levels to confirm you have enough to protect your home and belongings.

  • illustration card https://a.storyblok.com/f/162273/x/68ed522f01/windstorm-and-hail.svg

    Wind and severe storm damage

    Severe thunderstorms occur once every five days on average during the peak season of July and August in Maryland. Some policies require a separate deductible for losses incurred from wind, hurricanes, or other storms.

  • illustration card https://a.storyblok.com/f/162273/100x100/4ec24627d2/flood-coverage.svg

    Flooding

    Homeowners may also face risk of flooding due to storms in the area or other causes. The government’s National Flood Insurance Program offers flood insurance.

How can you save money on homeowners insurance in Maryland?

Several factors affect the cost of your home insurance, but you still have many ways to save money and even receive a discount on your premium. Here are some common ways for Maryland homeowners to save money on home insurance.

Bundle home and auto insurance

Bundling your home and auto insurance with the same insurer may save you money if it offers a discount. Most states require auto insurance, so this could be an easy way to save.

Improve your home security

Some insurers offer a discount if your home has certain security and anti-theft protection systems installed, since this can reduce the risk of burglary or vandalism. You can expect to save around 5% if you have things like a smoke detector, burglar alarm, or deadbolt locks in your home.

You may also be able to save even more with advanced items, such as a burglar alarm that calls your local police department or an advanced sprinkler system installed to reduce the risk of a fire spreading.

Raise your deductible

Raising your deductible can reduce the cost of your home insurance premiums. However, it does mean that you’ll need to pay more up front if you need to file a claim before your insurance coverage kicks in.

Comparison shop

Insurers have different prices and policy options, so it’s best to compare quotes to make sure you’re getting the best price for your coverage needs. Try to gather quotes from at least three different companies before choosing an insurer.

Average home replacement cost in Maryland

If you have replacement cost insurance coverage, this means your insurer will cover the costs to reconstruct your home using the same type of building materials. Replacement cost coverage also doesn’t deduct depreciation due to age, wear and tear, and other factors.

While you’ll receive funds up to your coverage limit for an approved claim, you’re responsible for paying the difference if repair costs exceed your coverage amount. Determining your home’s replacement cost early on can help you determine how much coverage you need in order to limit your out-of-pocket costs.

Here is the average home value in some Maryland cities.

CityAverage Home Value
Baltimore$266,805
Bowie$405,883
Fort Washington$359,734
Silver Spring$365,994
Waldorf$350,702
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers. Actual quotes may vary based on the policy buyer's unique driver profile.

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Maryland home insurance FAQs

Have more questions about getting home insurance in Maryland? Below are answers to some commonly asked questions.

  • How much is home insurance a month in Maryland?

    The average monthly cost of home insurance in Maryland is $155. This is for standard insurance and doesn’t include secondary coverages such as flood or earthquake insurance, which often require a separate policy.

  • Is homeowners insurance expensive in Maryland?

    Home insurance in Maryland is less expensive than in most other states and is lower than the national average of $2,724 a year, or $227 per month.

    Maryland homeowner’s insurance policies vary depending on the location of the home, the age of the home, and the amount of coverage.

  • What are the three main types of homeowners insurance?

    A standard home insurance policy includes dwelling (structure of your home), personal property (items within your home), and liability coverage (financial protection against bodily injury or property damage suits). The basic levels of coverage include:

    • Actual cash value: Pays you the dollar amount needed to repair or replace your home, minus depreciation.

    • Replacement cost: Pays you the dollar amount to repair or replace your home using the same or similar building materials without factoring in depreciation.

    • Extended replacement cost: Pays a certain percentage over your original coverage limit if more is needed to rebuild your home. This is usually 20% or more but depends on the insurer.

  • Does Maryland require homeowners insurance?

    Your mortgage company will usually require homeowners insurance, even if not required by law. Home insurance is also good to have if your home gets damaged by a storm or another type of covered peril. The cost to repair your home or replace damaged or stolen items can add up, but home insurance provides peace of mind that you’ll have coverage for these needs.

  • Is it better to pay home insurance monthly or yearly?

    Some insurers allow you to pay your home insurance premiums annually instead of monthly. Paying annually could help you save money if the insurer provides a discount for this. It also helps you eliminate a bill during the year.

    Paying monthly, on the other hand, may give you more financial flexibility and relieve any pressure of having to come up with the entire annual sum at once. Your mortgage company may require you to pay off your home insurance premium in a specific way, depending on the terms and conditions of your mortgage.

Sources

  1. J.D. Power. "Bundle Fumble? Rising Auto Insurance Premiums are Killing Home Bundles, J.D. Power Finds." Accessed March 6, 2023
  2. State Auto. "Home Insurance." Accessed April 18, 2023
  3. Better Business Bureau. "State Auto." Accessed April 18, 2023
Choncé Maddox
Choncé Maddox

Choncé Maddox is a Certified Financial Education Instructor (CFEI) and personal finance freelance writer. She graduated from Northern Illinois University with a degree in Journalism and has been covering personal finance topics surrounding saving, debt payoff, credit, and home insurance for seven years. Chonce briefly held a life insurance license in Illinois where she developed a passion for helping people learn how to protect themselves and their property through insurance coverage. Her work has been featured on LendingTree, Business Insider, RateGenius and more.

Chris Schafer
Edited byChris SchaferSenior Editor
Chris Schafer
Chris SchaferSenior Editor
  • 15+ years in content creation

  • 7+ years in business and financial services content

Chris is a seasoned writer/editor with past experience across myriad industries, including insurance, SAS, finance, Medicare, logistics, marketing/advertising, and many more.

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Andrew Huang
Data reviewed byAndrew HuangVice President, Performance Marketing
Headshot of Andrew Huang, Directory of Analytics at Insurify
Andrew HuangVice President, Performance Marketing
  • Chartered financial analyst

  • 12+ years in data analysis and marketing

Andrew applies his vast knowledge of analytics and insurance industry trends to help inform Insurify’s content and marketing efforts.

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