While Maryland is the 20th cheapest state for homeowners insurance in the US, there are a handful of areas which are more expensive than others in the state. ValuePenguin conducted a recent analysis on these rates in Maryland to help determine which cities had the most affordable rates (and which were the most expensive)! Overall, the average rate in the state (assuming $100,000 in liability coverage) was $1,236 with the most expensive city costing $1,766 and the cheapest costing $649. Read more below, or enter your zip code into the quote tool above to find homeowners insurance quotes.
- Cheapest Homeowners Insurance Companies
- Best Homeowners Insurance Rates in Maryland: by City
- Average Cost of Homeowners Insurance: by City
We analyzed home insurance rates from 64 underwriters for a house with frame construction and $100,000 of liability coverage in the state of Maryland to see which ones were the best companies for affordability. Across the various counties, we found that Safeco, Lititz, Goodville, Harleysville, and Farmers ranked with the best rates on average. Cumberland, AAA, Farm Family, Windsor-Mount Joy, and Main Street American rounded out the second half of the top ten. Note that AAA requires membership. On average, annual rates at these ten best companies were $456 or 37% cheaper for an annual homeowners insurance policy compared to what the typical company charged in Maryland. The below graph shows the top ten home insurance companies with the best rates in Maryland, and the table below ranks all of the underwriters (grouped by their parent company) from cheapest to most expensive.
Find the Cheapest Homeowners Insurance Quotes in Your Area
|Home Insurance Company||Average Annual Rates|
|Lititz Mutual Insurance Company||665|
|Goodville Mutual Casualty||720|
|Windsor-Mount Joy Mutual Insurance Company||843|
|Main Street America Insurance||879|
|Universal North America Insurance Company||892|
|Mutual Benefit Group||969|
|Penn National Insurance Company||979|
|Frederick Mutual Insurance Company||997|
|Farmers Mutual of Salem||998|
|Cincinnati Ins Co||1,017|
|Donegal Insurance Group||1,029|
|Homesite Insurance Company||1,071|
|American Strategic Insurance||1,106|
|Universal Property and Casualty Insurance Company||1,205|
|Allianz Auto Insurance||1,225|
|American Automobile Insurance||1,409|
|Brethren Mutual Insurance Company||1,517|
Looking at the 5 most expensive cities in Maryland for home insurance, you'll notice that they are all (with the exception of Rockville) coastal cities that touch the Atlantic Ocean or Chesapeake Bay. Because of this these towns are more exposed to large storms and even hurricanes that work their way up the eastern seaboard bringing with them damaging wind and rain.
|Rank||City||County||Average Rate||% Increase vs. MD Avg|
Located in the eastern most county in Maryland, it should come as no surprise that home insurance prices in this ocean front community are the highest in the state. Other large cities in Worcester County include Berlin and the county seat of Snow Hill. Average homeowners insurance premiums for Ocean City residents is a whopping $1,766 per year or 43% higher than the state average!
The only inland city in our top 5 most expensive list, Rockville is an affluent city just north of Washington DC. Rockville, located in Montgomery County, is one of many large cities inside county limits alongside Silver Spring, Bethesda, and Gaithersburg. If you want to live in this upscale suburb of DC you'll be paying insurance rates that are much higher than the norm. Homeowners in and around Rockville are paying almost 40% more for their homeowners insurance ($1,713) than the average Maryland citizen.
A small town of 4,200 in Queen Anne's County, Maryland, Centreville ranks as having the 3rd most expensive homeowners insurance rates in the state. Largely a commercial center for a sizable agricultural area in Eastern Maryland, Centreville prides itself on its easy going lifestyle. Home insurance rates in Centreville average $1,632 per year or $136 per month.
The county seat of Calvert County, Prince Frederick measures only 3.7 square miles and has less than 3,000 residents. With the Chesapeake Bay to the east and the Patuxent River sitting to the west, the county has a diverse topography showcasing beautiful cliffs on the Bay side while the western half of the county has rolling fields working their way down to the river. For those who own their homes in Prince Frederick, you will pay in the ballpark of $1,613 annually for protection.
The 5th most expensive city for home insurance rates in Maryland, Easton is located in Talbot County on the shores of the Chesapeake. The town is considered one of the top small towns to live in as it boasts easy access to large metro areas without the hassle of dealing with them everyday! Homeowners insurance premiums for Easton residents are expensive however: $1,609 annually or 30% more than the state average.
Three of the five cheapest home insurance prices in MD can be found in the western half of the state and dozens of miles inland from the Chesapeake Bay. Unlike the coastal towns in Maryland, cities and counties that reside off of the coast are usually better protected from any large storms off the Atlantic Ocean. The average annual cost of home insurance in these 5 cities is $829 per year versus $1,667 for the 5 most expensive areas!
|Rank||City||County||Average Rate||% Decrease vs. MD Avg|
"Where the South Begins", the city of Cumberland in Allegany County is home to over 20,000 Maryland residents spread out over 10 square miles. The county's nickname is derived from its geographic positioning which is just south of the Mason Dixon Line with PA to the north and WV to the south. Rates in Cumberland are the cheapest in the entire state at $649 per homeowner, or 48% cheaper than the MD average.
This town of 2,000 sits in the 2nd largest county in the state (Garrett) which makes up Maryland's western most border. Popular activities in the area including a host of outdoor activities from hiking in the summer to cross country skiing in the winter. Home insurance premiums for citizens of Oakland are 41% cheaper than the state average at $734 per year or $61 monthly.
Located on Maryland's Eastern Shore, Princess Anne is in Somerset County which is sandwiched between the Chesapeake Bay and the Atlantic Ocean and is home to 26,000 Marylanders. The area is renowned for its tranquil pace of life and natural beauty. Fortunately for residents, it's now also known as the 3rd cheapest place in MD to purchase insurance for your home. Rates in Princess Anne average $856 per year.
Hagerstown is a city of 40,000 located in Washington County and is also the fastest growing metro area in Maryland. The town has become the primary commercial hub for much of western MD because of its proximity to many of the main railroad lines in addition to both I-70 and I-81. In addition to its relatively low cost of living, Hagerstown also has the 4th lowest homeowners insurance rates in MD at $930 per year.
Within 150 miles of 6 major cities, Salisbury is a well positioned commercial hub in southeast Maryland. The largest employers in Salisbury include Perdue Farms (who is also HQ'd in Salisbury), Salisbury University, Verizon, and Peninsula Regional Medical Center. Homeowners in Salisbury will benefit from some of the lowest home insurance costs in MD with rates averaging $976 annually.
Our study analyzed 24 cities in the state of Maryland (one in each county) in order to determine where the towns stacked up against each other when it came to homeowners insurance rates. So if you're curious about where your city ranks just check out our graph below to see the average price:
Our study looked at one city each of Maryland's 24 counties. Rates for Maryland were obtained from the state's Department of Insurance. They assume a home with frame construction, a replacement cost including contents, $500 deductible, and $100,000 liability coverage. For homes that are worth substantially more or less premiums will fluctuate. For additional tips on shopping for homeowners insurance in Maryland you can always look at the guide provided by the state's Insurance Department.
Finally, here's a list of the cities included in our study in alphabetical order: