The Best and Cheapest Homeowners Insurance in Maryland

The Best and Cheapest Homeowners Insurance in Maryland

Travelers offers Maryland's cheapest home insurance, at an average rate of $910 per year.

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Maryland home insurance costs an average of $1,426 per year. However, cost is only one of the major factors that determine the best home insurance policy for you. We collected thousands of quotes across hundreds of ZIP codes from the top home insurance companies in Maryland to compare the best home insurance by cost, reliability, customer service and coverage.

Best cheap home insurance in Maryland

Cheapest home insurance in Maryland

Travelers has the cheapest home insurance in Maryland, at $910 per year on average.

State Farm offers coverage for $1,089 per year, which is 24% below the state average. Erie also has rates below the state average for $1,184 per year.

Most affordable home insurance in Maryland

Compare Home Insurance Quotes from Companies in Maryland

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The average rate for home insurance in Maryland is $1,426 per year, 6% cheaper than the national average of $1,516.

Company
Annual cost
Travelers logo
Travelers$910
State Farm logo
State Farm$1,089
Erie logo
Erie$1,184
Nationwide logo
Nationwide$1,446
Chubb logo
Chubb$1,655
USAA logo
USAA$1,711
Allstate logo
Allstate$1,984

Best home insurance for most people: State Farm

State Farm's home insurance policies are good for property owners looking for great customer support and cheap rates.
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The good:

  • Good customer service
  • Affordable monthly rate
  • Online tools

The bad:

  • Few discounts
  • Limited add-ons

State Farm is our pick for the best home insurer in Maryland, with an average cost of $1,089 per year. That's 24% cheaper than the state average.

One downside to State Farm is available discounts. While State Farm offers low rates overall, it only offers standard discounts, such as bundling and home security. However, its base rates are so affordable that State Farm might have the cheapest quotes for you even without qualifying for extra discounts.

State Farm also has good customer service ratings, with customers filing 25% fewer complaints than the average company its size. Customers have access to an individual agent to handle all of their policies or file their claims.

If you want to add extra protection to your policy, State Farm offers some additional features:

  • Water backup and sewer pump coverage
  • Mechanical breakdown coverage
  • Service line coverage
  • Identity theft coverage

Cheapest home insurance in Maryland: Travelers

Travelers has the most affordable homeowners insurance quotes in Maryland and has more add-ons than most companies.
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The good:

  • Most affordable rates
  • Highly customizable plans

The bad:

  • Poor customer service

Travelers has the most affordable homeowners insurance in Maryland on average, with a rate of $910 per year. That's about 36% cheaper than the state average and almost $200 per year less than the next cheapest company.

Travelers standard home policies give all the normal coverage of a home insurance, such as personal liability and dwelling protection. You can also add a wide variety of additional coverages, including additional replacement cost, contents replacement and identity fraud protection.

While Travelers offers the cheapest coverage by far, it does have a poor customer satisfaction reputation. Though you can make claims and get quotes online, many customers complain of erratic customer service, saying that the company is very slow with handling claims.

Travelers also does not offer many ways to lower rates. The most notable discount is the multipolicy discount, giving 15% off if you bundle your home and car insurance. Many companies offer bundling discounts of 20% or more.

Best coverage options in Maryland: Erie

Erie's homeowners insurance policies come with replacement cost coverage and superior customer service.
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The good:

  • Stellar customer service
  • Great coverage

The bad:

  • Limited online features

Erie has the best homeowners insurance in Maryland for maximizing coverage. Erie's standard policies come with replacement cost coverage for no extra cost. If you need to rebuild your home or replace any items, you will be reimbursed for the cost of the items without depreciation, as long as it doesn't exceed your coverage limit.

Despite having premium coverage, Erie home insurance rates average $1,184 per year, which is 17% less than the state average. Erie also offers add-ons like water backup and sump pump overflow and service line protection.

Erie's affordable home insurance also comes with excellent customer service, placing fourth nationwide for home satisfaction according to the J.D. Power customer satisfaction survey. Customers are generally satisfied with Erie's wide range of policy options, affordable quotes and great customer support.

Unfortunately, Erie's online tools are not as strong as competitors. While you can request online quotes or make your monthly payment online, you'll need to contact an agent to update your policy.

Best for military families: USAA

USAA has the best coverage for Maryland's military households, though it comes at a cost.
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The good:

  • Strong customer service
  • Military-specific benefits

The bad:

  • Only available to military personnel and family
  • Expensive rates
  • Few discounts

USAA is one of the best insurance companies available for current or former military service members or their immediate family. The average cost of USAA home insurance coverage is $1,711 per year. While that's around 20% above the state average, USAA could be a good choice if you value solid protection, unique military coverage and exceptional customer service.

USAA offers solid home insurance policies that include replacement cost coverage. You can also get coverage that benefits military personnel specifically — including coverage for damage to equipment during active duty and personal property protection worldwide, even in war zones.

USAA has the best customer satisfaction in Maryland, with less than one-sixth of the complaints than is typical for a similar sized company. Additionally, you can get quotes, pay bills and make claims online. However, most USAA offices are located near military bases, so you may have trouble locating an office near you if you prefer talking to an agent in person.

Maryland home insurance rates by city

The cheapest city in Maryland for home insurance is Walkersville, at $1,044 per year. West Ocean City has the most expensive quotes, at $2,381 per year.

The average cost of home insurance in Maryland is $1,426. The largest city, Baltimore, has an average cost of $1,771, 24% higher than the state average. The second-largest city, Columbia, is 19% cheaper than the state average, at $1,157.

City
Average annual cost
Difference from state average
Abell$1,61413%
Aberdeen$1,4572%
Aberdeen Proving Ground$1,4753%
Abingdon$1,4753%
Accident$1,255-12%
Show All Rows

Best home insurance companies in Maryland

USAA, Erie and State Farm have the best customer service for homeowners in Maryland.

USAA scored top marks from J.D. Power and from our editors, but only military members and some of their family members can get it. Erie and State Farm also have good customer satisfaction scores in Maryland and are available to most homeowners.

Company
Rating
USAA
Erie
State Farm
Chubb
Nationwide
Allstate
Travelers

Most common home insurance risks in Maryland: hurricanes, flooding and snow

Maryland's location on the coast makes it subject to water-related perils such as flooding and hurricanes, along with snow damage due to heavy snowfall and freezing temperatures.

Flooding

According to the National Oceanic and Atmospheric Administration (NOAA), Maryland reported 203 major floods across the state in 2021, leading to about $205,000 in damage. Unfortunately, most home insurance policies don't cover flood damage. To get flood insurance, you will need a separate policy through a private insurer or the National Flood Insurance Program (NFIP).

Hurricanes

Homes located on Maryland's eastern side can be affected by wind damage from hurricanes, from a tree falling on your home to roof shingles being damaged.

Almost all home insurance policies cover damage from wind, including hurricanes.

However, if you're living in an area prone to hurricanes, you may want to ensure that your policy covers the full value of your property.

Snow

Snow and ice damage is often covered by homeowners insurance, including coverage for damage caused by the weight of snow and ice accumulation.

Your home should also be covered for leaks that result from melting snow, as long as you are not responsible for the leak. For example, if you left your window open while it was snowing and the snow caused damage to your home, that damage would not be covered.

Frequently asked questions

How much is home insurance in Maryland?

The average cost of home insurance in Maryland is $1,426 per year, or $119 per month. This is 6% cheaper than the national average cost of home insurance, $1,516.

What's the best home insurance in Maryland?

State Farm has the best home insurance in Maryland, thanks to its cheap rates, good customer service and convenient online services. State Farm's average quote is $1,089 per year.

Who has the cheapest home insurance in Maryland?

Travelers has the cheapest home insurance quotes in Maryland at $910 per year. That's 36% cheaper than the state average.

Methodology

We collected quotes from the top home insurance companies in Maryland to find the best home insurance companies in the state. We compared quotes for a home built in1977 with a value of $314,800, which is the median home age and value of Maryland homes, according to the latest U.S. Census data.

Home insurance ratings are created based on a combination of complaint data from the National Association of Insurance Commissioners (NAIC), the J.D. Power customer satisfaction survey and ValuePenguin's own editorial ratings.

ValuePenguin's analysis used insurance rate data from Quadrant Information Services. These rates were publicly sourced from insurer filings and should be used for comparative purposes only — your own quotes may be different.

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.