Renters Insurance

The Best Cheap Renters Insurance in Maryland

The Best Cheap Renters Insurance in Maryland

Lemonade has the cheapest prices for renters insurance in Maryland, with an average rate of $108 per year, or $9 per month.

The average cost of renters insurance in Maryland is $16 per month. Lemonade's low rates can save you 43% compared to the state average price.

Compare Cheap Renters Insurance in Maryland

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We collected quotes from seven of the top renters insurance companies in Maryland to find the most affordable rates available. When choosing a renters insurance company, it's important to consider coverage options and customer service, in addition to affordability.

Cheapest renters insurance companies in Maryland

The cheapest renters insurance in Maryland is available at Lemonade, where renters will find an average price of just $9 per month.

The average price of coverage in Maryland is $16 per month, but there is a significant difference between the most and least affordable options. The most expensive option, Nationwide, is more than twice as expensive as Lemonade.

The Cheapest Renters Insurance in Maryland

Compare Cheap Renters Insurance in Maryland

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Maryland renters pay less for renters insurance than the average American. Across the country, renters insurance costs about $18 per month, on average.

Monthly cost
Lemonade logo
State Farm logo
State Farm$11
Travelers logo
Amica logo
Farmers logo
Allstate logo
Nationwide logo

Best renters insurance for most people: Lemonade

Lemonade charges the lowest prices on average for renters insurance in Maryland.
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Read the full review.

The good:

  • Most affordable renters insurance in Maryland
  • Easy-to-use mobile app

The bad:

  • Not the best customer service
  • Hard to speak to a person

Lemonade is our top recommendation for cheap renters insurance in Maryland. It has the lowest price of any insurance company in the state, at just $9 per month. That's 43% less than the average rate statewide and about $150 per year cheaper than the most expensive option, Nationwide.

We found the experience of signing up and using Lemonade renters insurance to be very convenient. It has a best-in-class mobile app and online signup experience, so getting coverage is simple and quick.

Lemonade's app-first customer focus does have a drawback, however. It can be harder to get in touch with a person if you have a question about your policy, and Lemonade doesn't have any physical agencies at all.

We found coverage options at Lemonade to be satisfactory but not industry-leading. Besides the basics, it offers replacement cost coverage and valuable items protection. But you'll miss out on some other options, like identity theft protection. Take a look at Travelers for the most complete coverage packages.

Best renters insurance for complete coverage: Travelers

Travelers offers affordable prices and a range of ways to personalize your coverage.
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The good:

  • Long list of add-on opportunities
  • Cheaper-than-average prices

The bad:

  • Doesn't allow monthly payments
  • Mixed customer service reviews

Travelers is a great option for renters looking for lots of coverage options combined with low rates. Travelers has the third-lowest premiums for renters insurance in Maryland — behind State Farm and Lemonade.

On average, renters insurance from Travelers costs $13 per month, or $152 per year. That's a 20% savings from the typical price.

The strength of Travelers is its long list of optional coverages. Some key available upgrades include:

  • Water backup protection: Covers expenses from water damage that results from broken drainage systems.
  • Replacement cost coverage: Replaces your lost or damaged property without consideration of its depreciation in value.
  • Equipment breakdown: Reimburses you for losses attributed to mechanical or electrical malfunctions.
  • Decreasing deductible: Reduces the cost of your deductible for each year you remain with Travelers and have a clean insurance record.

However, Maryland renters looking for the best customer service should consider another provider. While Travelers receives only about half as many complaints as a typical insurer, it ranks near the bottom of J.D. Power's customer satisfaction survey.

Best rated: Amica

Amica has the highest customer service rating of any company we rated in Maryland.
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The good:

  • Highly rated service
  • Good discounts

The bad:

  • Average rates

For renters willing to spend a bit more for great service, we recommend Amica. It's only a few dollars more per month than our top pick and is consistently well-rated by its customers.

Amica received a top score in our renters insurance service ratings, reflecting its customers’ positive experiences while buying a policy or making a claim. And it receives fewer than half as many complaints as an average insurance company its size, according to the National Association of Insurance Commissioners (NAIC) — suggesting customers tend to be satisfied with their experience.

The average price at Amica is $15 per month, or $175 per year. That's $6 more per month than our top pick, Lemonade.

However, you may be able to reduce your price by taking advantage of Amica's available discounts. These include savings for being claim-free and bundling your renters insurance with an auto policy.

Maryland renters insurance: Costs by city

The most expensive large city for renters insurance in Maryland is Baltimore, where we found an average price of $219 per year.

That's a minor difference when compared to the cheapest large city, Frederick, where the average cost is $171 annually.

Renters insurance costs can change based on where you live. Your bill might be cheaper if you live in an area with a low crime rate or higher if you are near the coast and vulnerable to storms.

Average annual cost
Difference from state average (%)
Bel Air$194-1%
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Top-rated renters insurance companies in Maryland

USAA and Amica have the top-rated customer service among renters insurance companies in Maryland.

Both companies are well-reviewed by customers and receive few complaints according to the NAIC. They also received strong ratings from the ValuePenguin editors, and USAA is J.D. Power's top pick for customer satisfaction.

State Farm

Frequently asked questions

How much is renters insurance in Maryland?

The average cost of renters insurance in Maryland is $16 per month. That's 12% cheaper than the national average for renters insurance.

Is renters insurance mandatory in Maryland?

Renters insurance is not legally required in Maryland. Your property management company or landlord may require you to buy a policy, though, so it's important to check your lease agreement.

Who has the best renters insurance in Maryland?

Lemonade is the best renters insurance company for most people in Maryland. At $9 per month, it has the cheapest coverage in the state. Lemonade also has an easy-to-use mobile app that can help you buy a policy or file a claim quickly.


We evaluated quotes from seven major insurance companies in the 21 largest cities across the state of Maryland. All sample rates are for an unmarried 25-year-old renter who lives alone and has no recent renters insurance claims.

Personal property$30,000
Personal liability$100,000
Medical payments$1,000
Loss of use$9,000

Listed coverage applied where available.

Top picks are determined by our experts, who analyze rates, customer service and coverage options.

Renters insurance star ratings are based on the National Association of Insurance Commissioners (NAIC) complaint index, the J.D. Power customer service satisfaction index and ValuePenguin's editors' rankings.

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.