We evaluated renters insurance quotes in 26 cities in Maryland to determine which cities had the cheapest annual renters insurance costs. Based on our sample policy, Maryland renters pay an average of $222 per year for their renters insurance. Baltimore, the most populous city in Maryland, ranked as the fourth most expensive city in the state. Below, we profile the least and most expensive cities for renters insurance in Maryland. Read more about the findings from our study, or use our quote tool above to find renters insurance quotes in your area.
- Cheapest Renters Insurance Companies in Maryland
- The 5 Best Cities and Towns for Renters Insurance in Maryland
- Top 5 Most Expensive Cities and Towns for Renters Insurance in Maryland
Cheapest Renters Insurance Companies in Maryland
We collected rates for our sample residence across 26 cities from State Farm, Liberty Mutual, Farmers and Nationwide. Quotes from each insurer were averaged to find which companies had the best renters insurance rates in Maryland. Overall, State Farm had the cheapest renters insurance quotes out of the four insurers in our study. The graph below shows the average annual costs to insure our sample residence by insurer alongside the state average:
Top 5 Least Expensive Cities for Renters Insurance in Maryland
1. Takoma Park, MD
Takoma Park is a city located in Montgomery County. It is a suburb of Washington D.C. near the Mid-Atlantic fall line and less than 15 miles from Virginia. The city was founded in 1883 by Benjamin Franklin Gilbert, an American real estate developer. He made Takoma Park one of the first railroad-accessible suburbs in the D.C. area.
Takoma Park is the cheapest city for renters insurance out of the 26 cities in our study. We found that residents pay an average of $185 for renters insurance each year, which is 17% less than the average in Maryland. The best rates were offered by State Farm, the state's cheapest insurer, at an annual cost of $115. Nationwide offered the highest annual rate of $320, which is $98 more than the state average.
2. Gaithersburg, MD
Gaithersburg is fourth most populous city in Maryland. It is located northwest of Washington D.C. and approximately 20 miles from Takoma Park. The city is home to the headquarters of The National Institute of Standards and Technology (NIST). Other major employers in Gaithersburg are MedImmune and Sodexo.
Based on our study, Gaithersburg has the second most affordable renters insurance rates in Maryland. We found that the average annual quote for renters insurance was $191, which is $6 more than the cheapest city, Takoma Park. State Farm offered the best quote of $115. And Nationwide had the most expensive rate of $341, which is $119 more than the state average.
3. Rockville, MD
Rockville is the third largest city in the state of Maryland. It is the county seat of Montgomery County and is located southeast of Gaithersburg, the second cheapest city on our list. The city is home to several software and biotechnology companies and federal government institutions such as the Nuclear Regulatory Commission.
The city of Rockville ranks as the third cheapest city for renters insurance in Maryland. On average, residents of Rockville pay $191 per year for renters insurance. This represents a rate that is 14% less than the state mean. Liberty Mutual and Farmers offered annual renters insurance quotes of $151 and $156, respectively. State Farm quoted the lowest rate of $115 per year, which is $36 less than Farmers and $41 less than Nationwide.
4. Westminster, MD
Westminster is located in the northern part of Maryland, near the border of Pennsylvania. The city is a suburb of Baltimore and Washington D.C. and is the seat of Carroll County. It is home to McDaniel College, which is one of the top employers in the city. Other top employers include Penguin Random House and the Carroll Hospital Center.
Westminster has the fourth most affordable renters insurance in the state of Maryland. The average cost of renters insurance in the city is $191, which is the same rate as the averages from the cities of Gaithersburg and Rockville. If you're looking for low cost renters insurance, State Farm quoted the most affordable rate for the city of $115. Liberty Mutual offered a quote of $159, which is only $44 more expensive than State Farm.
5. Annapolis, MD
Annapolis is the capital and seventh most populous city of Maryland. It lies at the mouth of the Severn River, which flows into Chesapeake Bay. It is home to the United States Naval Academy and St. John's College, founded in 1696. Annapolis has one of the largest concentrations of 18-century brick homes in the country.
The city of Annapolis had the fifth lowest average renters insurance in the state of Maryland. Based on our study, residents pay 9% less than the state average, which represents a $20 savings. State Farm offered the lowest annual renters insurance quote for the city of $115. Nationwide offered the most expensive rate of $348, which is $157 more than the second highest rate for the city.
Top 5 Most Expensive Cities for Renters Insurance in Maryland
1. District Heights, MD
District Heights is a small city that was originally used as farm land. By 1936, the city had around 25 homes built, two businesses and a grocery store with a pump house and a water tower for the area. Today, the city has less than 7,000 residents but is approximately 10 miles from the very populated Washington D.C.
According to our study, District Heights residents pay an average of $264 for renters insurance, which is 19% more expensive than the state average. The lowest rate was offered by State Farm at an annual cost of $149. Nationwide offered the highest rate of $462, which is more than three times State Farm's rate and $209 more than the second most expensive rate in District Heights.
2. Glenarden, MD
The city of Glenarden is located less than seven miles from District Heights, the most expensive city for renters insurance in Maryland. The city was developed in 1919 by W.R. Smith and was incorporated in 1939. It is part of Prince George's County with a population of around 6,000 residents.
Glenarden is the second least affordable city for renters insurance in the state of Maryland. The average renters insurance cost in the city is $251, which is 13% more than Maryland's average. The best renters insurance rate in the city was offered by State Farm at an annual cost of $147. The second best renters insurance policy was quoted by Liberty Mutual at $191, which is $44 greater than State Farm's quote.
3. Mount Rainier, MD
Mount Rainier is located on the border of the District of Columbia, in Prince George's County. U.S. Route 1 runs through the city and serves as the main street and business district in Mount Rainier. The city began as a streetcar suburb, meaning that it was a community shaped by the use of streetcar lines as the main source of transportation.
Mount Rainier is the third most expensive city for renters insurance in the state. On average, residents pay $251 per year, which is 13% greater than the state mean. The best quote was offered by State Farm, the cheapest insurer in the state, at a rate of $147 per year. Nationwide provided the highest quote of $430, which is $283 more than State Farm's quote and $208 more than the state mean.
4. Baltimore, MD
Baltimore is the largest city in Maryland and the 30th most populous city in the United States. It was established as an independent city, meaning that it is not part of any county. The city was founded in 1729 and approximately a third of the buildings in Baltimore are designated as historic by the National Register of Historic Places.
According to our study, Baltimore ranked as the fourth most expensive city for renters insurance in the state of Maryland. It has an average renters insurance cost of $251, which is the same rate as Glenarden and Mount Rainier. The cheapest policy in the city of Baltimore was offered by State Farm at an annual rate of $148. Nationwide had the highest rate of $416, which almost three times the cost of State Farm's quote.
5. Bowie, MD
Bowie started as a small railroad stop in Prince George's County and is now the fifth largest city in Maryland. It was originally named Huntington City but was renamed to honor Governor Oden Bowie. The city is home to the U.S. Census Bureau Computer Facility and the Institute for Defense Analysis Computer Center.
Bowie ranked as the fifth least affordable city for renters insurance in Maryland. State Farm quoted the cheapest renters insurance rate in Bowie at $147 annually, which is $75 less than the state mean. Nationwide quoted the most expensive rate of $398 per year, which is $251 more than State Farm's quote for the city. Residents pay an average of $247 for renters insurance per year.
We looked at 26 cities, spread out in Maryland to find which cities had the cheapest renters insurance in the state. The sample renters insurance policy we gathered quotes for included $30,000 of coverage. Rates were collected from State Farm, Liberty Mutual, Farmers and Nationwide insurance companies. The quotes were then averaged to arrive at a mean value for each city. For an alphabetical list of all the cities included in the comparison analysis, please see below. We’ve displayed all cities with the mean cost of insurance per year for our benchmark policy and how much each city costs relative to the statewide average.
|Rank||City||Average Insurance Rate||Cost Compared to Average|
|10||Havre de Grace||212||-5%|