Best homeowners insurance in Maryland (2024)

We looked at average costs, customer service ratings, and policy options from multiple top insurers to find the best and cheapest home insurance companies in Maryland.

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By

Rachael BrennanSenior Editor & Licensed Auto Insurance ExpertRachael Brennan is a senior editor and a licensed auto insurance expert at Policygenius. Her work has also been featured in MoneyGeek, Clearsurance, Adweek, Boston Globe, The Ladders, and AutoInsurance.com.

Edited by

Pat HowardPat HowardManaging Editor & Licensed Home Insurance ExpertPat Howard is a licensed insurance expert and managing editor at Policygenius. Pat has written extensively about the home insurance industry and his insights as a subject matter expert have appeared in several top tier publications, including The New York Times, The Wall Street Journal, CNBC, and Reuters. Pat has a bachelor's degree in journalism from Michigan State University.
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Reviewed by

Kristi Sullivan, CFP®Kristi Sullivan, CFP®Certified Financial PlannerKristi Sullivan, CFP®, is a certified financial planner and a member of the Financial Review Council at Policygenius. Previously, she was a regional consultant at Fidelity Investments for nine years.

Updated|3 min read

Expert reviewedExpert reviewedThis article has been reviewed by a member of ourFinancial Review Council to ensure all sources, statistics, and claims meet the highest standard for accurate and unbiased advice.Learn more about oureditorial review process.

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Maryland’s four-season weather and proximity to the coast means that homeowners can expect everything from winter storms to coastal weather events, all of which can cause significant damage to homes. 

Despite the varying weather-related risks, the average cost of homeowners insurance in Maryland is $1,539 per year or $128 a month. This is around 12% lower than the national average of $1,754.

Compare home insurance rates in Maryland

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Compare the best homeowners insurance companies in Maryland

Of the companies we looked at, State Farm has the lowest home insurance rates in Maryland, with an average annual policy cost of $1,311 per year — a little less than half of the state average. Erie has the next lowest average rates at $1,423 per year.

Policygenius analyzed thousands of quotes from the 5 largest Maryland insurers to find the average cost of homeowners insurance with each company in 2022. We then looked at 2021 J.D. Power customer satisfaction scores and compared that with the coverage needs of Maryland residents to find the best homeowners insurance in Maryland.

Company

Average monthly cost

Policygenius rating

State Farm

$122

4.8 out of 5

Nationwide

$209

4.5 out of 5

Homesite

$180

4.5 out of 5

Erie

$127

4.5 out of 5

Allstate

$172

4.4 out of 5

Methodology & why you can trust our rates

Policygenius has analyzed home insurance rates provided by Quadrant Information Services in March 2022 for ZIP codes in all 50 states plus Washington, D.C., for a 40-year-old female homeowner with no claim history, good credit, a $1,000 deductible, and the following coverage limits:

  • Dwelling: $300,000

  • Other structures: $30,000

  • Personal property: $150,000

  • Loss of use: $60,000

  • Liability: $300,000

  • Medical: $1,000

All rates based on the above coverage limits except where otherwise noted.

Some carriers may be represented by affiliates or subsidiaries. Rates provided are a sample of costs. Your actual quotes may differ.

Best company for cheap average rates: State Farm

award icon

2024 Policygenius award winner

State Farm

State Farm logo

Policygenius rating 

Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.

Full orange starFull orange starFull orange starFull orange starHalf orange star

4.8

AM Best rating 

AM Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).

A++

Cost 

Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).

$

$

$

$

$

Bundle home & auto

Offers extended replacement cost

Offers flood insurance

Offers earthquake insurance

Wind/hail deductible

Offers wildfire insurance

Why we chose itchevron icon

State Farm is one of the best home insurance companies in Maryland thanks to its large selection of policy options, high customer service marks, and industry-best financial stability ratings.

Pros and conschevron icon

Pros

  • Top-tier coverage add-ons, including extended replacement cost coverage

  • High customer satisfaction and financial strength ratings

Cons

  • No discounts for first-time homebuyers

More detailschevron icon

Why we chose State Farm

State Farm is one of the best home insurance companies in Maryland, especially if you want to add coverage to a basic policy. State Farm lets homeowners get extended replacement cost coverage for their homes, replacement cost coverage for their personal property, water backup protection, and more.

State Farm's customer service is highly rated, too. The company has received high ratings from policyholders, according to J.D. Power’s 2022 customer satisfaction, claims, and digital experience surveys. It has also received the highest rating possible from A.M. Best for financial strength and stability.

How do State Farm home insurance rates compare to the Maryland average?

The average cost of home insurance from State Farm in Maryland is $1,311 per year, which is 15% cheaper than the statewide average.

How to get a quote

Online through State Farm or by contacting your local State Farm agent.

Best for customer service: Erie

award icon

2024 Policygenius award winner

Erie

Policygenius rating 

Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.

Full orange starFull orange starFull orange starFull orange starHalf orange star

4.5

AM Best rating 

AM Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).

A+

Cost 

Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).

$

$

$

$

$

Mobile app

Bundle home & auto

Why we chose itchevron icon

Erie's wide range of coverage options, industry-best customer service ratings, and affordable rates make it one of the best home insurance companies in Maryland.

Pros and conschevron icon

Pros

  • Guaranteed replacement cost comes standard on Erie policies

  • Excellent customer service and claims satisfaction ratings

  • Cheap rates

Cons

  • Just three available discounts

  • Can’t get quotes or file claims online

More detailschevron icon

Why we chose Erie

Erie is one of the best homeowners insurance companies in Maryland for residents who want to add more protection to a basic policy, get top-rated customer service, and pay cheaper-than-average premiums.

Home insurance policies from Erie come standard with guaranteed replacement cost coverage — which you often have to pay extra for at other companies. A basic policy also covers lost and misplaced items, jewelry, and gift cards to closed businesses.

Erie also offers a range of add-ons that you can purchase, like short-term rental coverage, equipment breakdown coverage, water backup protection, underground service line coverage, and more.

How do Erie home insurance rates compare to the average in Maryland?

The average cost of Erie home insurance in Maryland is $1,423 per year, which is 8% cheaper than the state average of $1,539 per year.

How to get a quote

Online through Erie

Best for coverage options: Nationwide

award icon

2024 Policygenius award winner

Nationwide

Nationwide logo

Policygenius rating 

Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.

Full orange starFull orange starFull orange starFull orange starHalf orange star

4.5

AM Best rating 

AM Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).

A+

Cost 

Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).

$

$

$

$

$

Bundle home & auto

Mobile app

New homebuyer discount

Offers extended replacement cost

Why we chose itchevron icon

Nationwide is one of the best homeowners insurance companies in Maryland for people who want complete coverage. You can strengthen a basic Nationwide policy with the company's range of coverage add-ons.

Pros and conschevron icon

Pros

  • Multiple high-quality coverage options

  • Highly rated for claims satisfaction with J.D. Power

Cons

  • Rates are higher than average

  • Below-average customer satisfaction and digital experience ratings

More detailschevron icon

Why we chose Nationwide

Nationwide is the best homeowners insurance company for those who can take advantage of its large selection of coverage options. These include guaranteed and extended replacement cost coverage, better roof replacement, new belongings coverage, water backup protection, and equipment breakdown coverage.

Nationwide has also received high ratings from J.D. Power for claims satisfaction, and it ranks fifth on J.D. Power's Property Claims Satisfaction Study from 2022. The company also receives far fewer complaints than other insurers, according to the National Association of Insurance Commissioners.

Although we found that Nationwide's rates are more expensive than average in Maryland, you might be able to lower your premiums with the company's discounts. These include discounts for bundling, renovating your home, buying a new home, and others.

How do Nationwide home insurance rates compare to the Maryland average?

The average cost of Nationwide home insurance in Maryland is $1,694 per year, which is 10% more expensive than the state average of $1,539 per year.

How to get a quote

Online through Policygenius or Nationwide

Best for water backup protection: Homesite

Homesite

Policygenius rating 

Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.

Full orange starFull orange starFull orange starFull orange starHalf orange star

4.3

AM Best rating 

AM Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).

A

Cost 

Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).

$

$

$

$

$

Bundle home & auto

New homebuyer discount

Offers flood insurance

Offers earthquake insurance

Offers extended replacement cost

Offers wildfire insurance

Why we chose itchevron icon

Even though it's more expensive than average in the state, Homesite has some of the best home insurance in Maryland. You can choose from 15 policy add-ons to ensure your home is fully protected.

Pros and conschevron icon

Pros

  • 15 policy add-ons for extra protection, including extended replacement cost coverage

  • Offers flood and earthquake insurance, plus complimentary wildfire protection and mitigation services

Cons

  • Low score in J.D. Power’s claims satisfaction study

  • Rates are more expensive than average

More detailschevron icon

Why we chose it

We chose Homesite as one of the best home insurance companies in Maryland because of its range of coverage options. These include guaranteed and extended replacement cost coverage, water backup protection, equipment breakdown coverage, and others.

Homesite also has decent customer service scores. The company scored below average on the J.D. Power Claims Satisfaction study, but it receives fewer complaints than expected according to the National Association of Insurance Commissioners.

How much does Homesite home insurance cost in Maryland?

The average cost of Homesite home insurance in Maryland is $1,713 per year, which is 11% higher than the statewide average.

How to get a quote

You can get a quote from Homesite by visiting Homesite’s website or by calling the company.

Best for short-term rental owners: Travelers

Travelers

Travelers home insurance logo

Policygenius rating 

Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.

Full orange starFull orange starFull orange starFull orange starHalf orange star

4.4

AM Best rating 

AM Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).

A++

Cost 

Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).

$

$

$

$

$

Bundle home & auto

New homebuyer discount

Mobile app

Offers extended replacement cost

Offers flood insurance

Why we chose itchevron icon

Travelers offers some of the best homeowners insurance in Maryland despite higher-than-average rates thanks to industry-best financial ratings and flexible policy options for most home types.

Pros and conschevron icon

Pros

  • Green home coverage and discounts

  • Offers short-term rental coverage for Airbnb hosts

  • Doesn’t require prior insurance on the home

Cons

  • Subpar customer service ratings with J.D. Power

  • Underwhelming number of available discounts

  • Higher than average rates

More detailschevron icon

Why we chose Travelers

Travelers is a reputable home insurance provider that offers comprehensive policy options. One of Travelers's benefits is its willingness to cover risks that other insurance companies won't. These risks include no prior insurance coverage, coverage for short term rentals, and liability protection for trampoline injuries if its fitted with protective netting.

How do Travelers home insurance rates compare to the Maryland state average?

The average cost of Travelers home insurance in Maryland is $4,189 per year, which is more expensive than the state average annual premium of $1,539.

How to get a quote

Online through Policygenius or Travelers

Compare home insurance rates in Maryland

We don't sell your information to third parties.

How much is homeowners insurance in Maryland?

The average cost of homeowners insurance in Maryland is $1,539 per year, or roughly $128 a month, for an insurance policy with $300,000 in dwelling coverage. This is 12% lower than the national average of $1,754 per year.

Maryland homeowners insurance rates by city

Looking at average home insurance costs for the 15 most popular insurers in Maryland, we found that the cheapest homeowners insurance company in almost every city in the state is State Farm. While insurance companies will consider many factors when determining your home insurance rates, your home’s location has perhaps the biggest impact on your final premium. But even if home insurance is expensive where you live, you can often find affordable coverage in Maryland.

Here’s a look at the average cost of home insurance in the 20 largest cities in Maryland.

City

Average monthly cost

Average annual cost

Difference from state average (%)

Baltimore

$152

$1,826

19%

Frederick

$116

$1,392

-10%

Gaithersburg

$113

$1,352

-12%

Rockville

$112

$1,342

-13%

Bowie

$126

$1,514

-2%

Hagerstown

$122

$1,464

-5%

Annapolis

$120

$1,445

-6%

College Park

$139

$1,664

8%

Salisbury

$130

$1,563

2%

Laurel

$133

$1,591

3%

Greenbelt

$137

$1,642

7%

Hyattsville

$134

$1,613

5%

Westminster

$116

$1,392

-10%

Cumberland

$129

$1,542

0%

Takoma Park

$118

$1,415

-8%

Easton

$137

$1,648

7%

Aberdeen

$126

$1,513

-2%

Elkton

$130

$1,557

1%

Cambridge

$143

$1,711

11%

La Plata

$135

$1,622

5%

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Maryland homeowners insurance rates by coverage amount

The table below highlights the average annual premium in Maryland for five different levels of dwelling coverage, which is the part of your policy that covers structural damage to your home.

Generally speaking, more dwelling coverage means higher homeowners insurance rates, as shown in the table below.

Dwelling coverage limit

Average annual cost

$100,000

$818

$200,000

$1,182

$300,000

$1,539

$400,000

$1,917

$500,000

$2,358

Compare home insurance rates in Maryland

We don't sell your information to third parties.

Cheapest homeowners insurance companies in Maryland

The amount you pay for homeowners insurance primarily depends on your home's replacement cost and how much dwelling coverage it requires. Companies also set rates differently depending on how much coverage is in your policy. For example, a company that offers cheapest home insurance rates for a home with a low dwelling coverage limit may charge relatively high premiums for a home with high dwelling coverage limits. That's why it's so important to compare quotes from multiple companies.

 Here's the average annual premium from 15 insurance companies in Maryland.

Company

Average annual cost

Brethern Mutual

$681

State Auto

$736

Farmers

$1,065

Penn National Insurance

$1,176

State Farm

$1,311

Armed Forces Insurance

$1,357

USAA

$1,384

Erie

$1,423

Donegal Insurance

$1,432

Allstate

$1,607

Nationwide

$1,694

Homesite

$1,713

Chubb

$1,817

Pure Insurance

$2,385

Travelers

$4,189

Collapse table

Cheapest Maryland homeowners insurance if you have an older home

The age of your home is one of the factors that impacts your insurance rates. Here are the rates for older homes in Maryland by company.

Company

Average annual cost

Brethern Mutual

$702

Farmers

$943

Penn National Insurance

$1,193

Armed Forces Insurance

$1,357

State Farm

$1,464

Donegal Insurance

$1,492

Allstate

$1,514

USAA

$1,522

Erie

$1,559

Nationwide

$1,707

Homesite

$1,713

Chubb

$2,036

Pure Insurance

$2,385

State Auto

$2,702

Travelers

$12,344

Collapse table

Cheapest Maryland homeowners insurance if you have a history of claims

Filing multiple claims can impact your homeowners insurance rates. Here are the average rates for homeowners who have filed multiple claims.

Company

Average annual cost

Brethern Mutual

$911

Armed Forces Insurance

$1,357

Donegal Insurance

$1,432

State Farm

$1,464

Penn National Insurance

$1,543

Farmers

$2,120

USAA

$2,247

Chubb

$2,744

Erie

$2,793

Homesite

$2,843

Nationwide

$3,133

Pure Insurance

$3,512

Allstate

$3,621

State Auto

$4,448

Travelers

$20,597

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How to buy homeowners insurance in Maryland

With so many options for homeowners insurance in Maryland, shopping for homeowners insurance can seem overwhelming, which is why we provided Maryland homeowners with the insights and expert advice they need for a more convenient and informed comparison.

5 steps to buying homeowners insurance in Maryland

  1. Reach out to a licensed Policygenius agent. With our team of experienced home insurance experts, we can help you get affordable coverage from the top home insurance providers.

  2. Ask if you should purchase flood or hurricane coverage. With four-season weather, homeowners in Maryland should talk to a Policygenius agent about purchasing additional coverage for floods, winter storms, or even hurricanes.

  3. Figure out whether a $500, $1,000, or $2,000 deductible works best for you. A higher deductible means you’ll pay less upfront for your insurance, but more out-of-pocket expenses when it's time to file a claim. A Policygenius agent can help you pick out a deductible that suits your budget.

  4. Compare quotes from a Policygenius agent. Input a few brief details about your home, and we’ll send over a few quotes from companies that suit your coverage and budget needs.

  5. Sign the policy, and pay your first premium. After you’ve settled on the company that works best for you, Policygenius will do all of the paperwork for you. All you need to do is sign and pay your first premium.  

Compare home insurance rates in Maryland

We don't sell your information to third parties.

Frequently asked questions

How much does the average homeowners policy cost in Maryland?

The average home insurance rate in Maryland is about $144 a month or $1,733 a year —$19 lower than the national average of $1,754 for a home with $300,000 in dwelling coverage.

Do you need homeowners insurance in Maryland?

Homeowners insurance is not legally required in Maryland. However, if you have a mortgage on your property, your lender may require you to have home insurance to protect their investment in the property until the loan is paid off.

Why do some insurance companies charge higher home insurance rates to customers with a swimming pool?

Insurance companies consider swimming pools to be “an attractive nuisance,” which is a term used by insurers to describe anything that might be hazardous or cause harm to a child. Because of the liability risk a pool causes, insurance companies charge homeowners higher rates.

Author

Rachael Brennan is a senior editor and a licensed auto insurance expert at Policygenius. Her work has also been featured in MoneyGeek, Clearsurance, Adweek, Boston Globe, The Ladders, and AutoInsurance.com.

Editor

Pat Howard is a licensed insurance expert and managing editor at Policygenius. Pat has written extensively about the home insurance industry and his insights as a subject matter expert have appeared in several top tier publications, including The New York Times, The Wall Street Journal, CNBC, and Reuters. Pat has a bachelor's degree in journalism from Michigan State University.

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