Best homeowners insurance in Baltimore, MD (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 Baltimore.

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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

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.

Updated|4 min read

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Baltimore may be known for its food, culture, and bustling nightlife, but residents should also be aware of their home insurance policy options. The city’s proximity to the coast makes it subject to coastal storms that could put your home at risk. 

The average cost of homeowners insurance in Baltimore is $1,826 per year or $152 a month. This is around 19% higher than the statewide average of $1,539 per year, and about 4% higher than the national average of $1,754. 

Compare home insurance rates in Baltimore

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Compare the best cheap homeowners insurance companies in Baltimore

Of the companies in Baltimore we looked at, State Auto’s average annual premium of $952 is the lowest, while State Farm's average annual premium of $1,460 is the lowest among our top picks. While USAA also has the highest J.D. Power score, which rates companies for customer and claim satisfaction, State Farm, Allstate, and Travelers are all rated highly as well. The most expensive average yearly rate is $4,823 with Travelers.

To find the best cheap homeowners insurance in Baltimore, Policygenius rated over a dozen of the largest insurance companies in Maryland across several categories, such as average policy cost, financial strength ratings with AM Best, customer and claims satisfaction scores with J.D. Power, available policy options, and more.

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.

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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 Baltimore 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 the best home insurance company in Baltimore, 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 Baltimore average?

The average cost of home insurance from State Farm in Baltimore is $1,460 per year, which is 20% less than the citywide average.

How to get a quote

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

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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 Baltimore.

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 Baltimore 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 Baltimore?

The average cost of Erie home insurance in Baltimore is $1,826 per year, which is 17% cheaper than the city average of $1,277 per year.

How to get a quote

Online through Erie

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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 Baltimore 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 Baltimore, 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 Baltimore average?

The average cost of Nationwide home insurance in Baltimore is $2,509 per year, which is 37% more expensive than the citywide average of $1,826.

How to get a quote

Online through Policygenius or Nationwide

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 Baltimore, Homesite has some of the best home insurance in Baltimore. 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 Baltimore 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 Baltimore?

The average cost of Homesite home insurance in Baltimore is $2,163 per year, which is 18% more expensive than the citywide average.

How to get a quote

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

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2024 Policygenius award winner

Allstate

Allstate 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

Smart home discounts

Why we chose itchevron icon

Allstate is one of the top home insurance companies in Baltimore. While its rates are higher than average in the city, Allstate also offers a few add-ons that can make a basic policy stronger.

Pros and conschevron icon

Pros

  • Offers HostAdvantage for short-term rental coverage

  • Offers water backup protection, other endorsements

Cons

  • Beginning to pull back coverage in high-risk areas

  • Higher than average rates

More detailschevron icon

Why we chose Allstate

Allstate is a top home insurance company in Baltimore. We like that Allstate offers some home insurance coverages that you can add to your policy for more protection, like water backup protection, scheduled personal property coverage, and identity theft restoration coverage.

If you're looking to cover your short-term rental, Allstate's HostAdvantage is another perk. HostAdvantage comes with theft protection, coverage for your damaged property ($10,000 per host period), and a $25 discount on cleaning services from Merry Maids.

How do Allstate home insurance rates compare to the Baltimore average?

The annual average cost of Allstate home insurance in Baltimore is $2,061 per year, which is 13% more expensive than the citywide average.

How to get a quote

Online through Policygenius or Allstate, or by contacting a local Allstate agent.

Compare home insurance rates in Baltimore

We don't sell your information to third parties.

How much is homeowners insurance in Baltimore?

The average cost of home insurance in Baltimore is $1,826 per year, or $152 a month, for a policy with $300,000 in dwelling coverage. This is around 19% higher than the average annual cost of $1,539 for homeowners insurance in Maryland, and about 4% higher than the national average. 

Baltimore home insurance rates by ZIP code

Home insurance rates can vary substantially depending on which ZIP code your home is located in, as homes in certain Baltimore neighborhoods may be more prone to extreme weather damage or property crime than others.

To help you find out how much home insurance costs where you live, we calculated average home insurance rates by ZIP code in Baltimore.

ZIP code

Average annual cost

Difference from state average (%)

21215

$1,801

17%

21206

$1,995

30%

21218

$1,808

17%

21224

$1,963

28%

21229

$1,766

15%

21212

$1,708

11%

21230

$1,965

28%

21217

$1,805

17%

21239

$1,775

15%

21213

$1,855

21%

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Cheapest ZIP codes for home insurance in Baltimore

With an average home insurance rate of $1,533 per year, the 21240 ZIP code is the most affordable area for home insurance in Baltimore.

ZIP code

Average annual cost

Difference from state average (%)

21240

$1,533

0%

21250

$1,610

5%

21287

$1,667

8%

21212

$1,708

11%

21251

$1,733

13%

21201

$1,764

15%

21229

$1,766

15%

21239

$1,775

15%

21205

$1,796

17%

21215

$1,801

17%

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Most expensive areas for homeowners insurance in Baltimore

With an average annual premium of $2,043, the 21214 ZIP code is the most expensive ZIP code in Baltimore for home insurance. If you live one of these ZIP codes, your rates might be among the highest in the city.

ZIP code

Average annual cost

Difference from state average (%)

21214

$2,043

33%

21231

$2,006

30%

21206

$1,995

30%

21230

$1,965

28%

21224

$1,963

28%

21211

$1,935

26%

21210

$1,920

25%

21225

$1,893

23%

21213

$1,855

21%

21223

$1,830

19%

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Learn more >> Home insurance rates by ZIP code

Baltimore home insurance costs by coverage amount

Along with your home's location, your homeowners insurance premiums are primarily based on how much dwelling coverage is in your policy. This is the centerpiece of your home insurance coverage, covering the cost to repair or rebuild your home after a covered disaster.

Here are the average rates for homeowners insurance based on coverage amount.

Dwelling coverage limit

Average annual cost

$100,000

$978

$200,000

$1,416

$300,000

$1,826

$400,000

$2,253

$500,000

$2,748

Baltimore home insurance costs by deductible amount

Your home insurance deductible is the amount you’re responsible for paying on each claim before insurance kicks in to help cover the cost of repairing or replacing your property. A higher deductible means lower insurance premiums, but it also means you're responsible for paying more out of pocket when you file a claim.

Here are the average rates for homeowners coverage by deductible amount.

Deductible

Average annual cost

$500

$1,497

$1,000

$1,399

$2,000

$1,253

Cheapest homeowners insurance companies in Baltimore

Based on our analysis, State Auto, Brethern Mutual, and USAA are the three cheapest home insurance companies in Baltimore, with average premiums citywide ranging from $952 to $1,376 per year.

Company

Average annual cost

State Auto

$952

Brethern Mutual

$1,147

USAA

$1,376

Armed Forces Insurance

$1,381

Foremost

$1,435

State Farm

$1,460

Erie

$1,518

Penn National Insurance

$1,598

Donegal Insurance Group

$1,787

Chubb

$1,854

Allstate

$2,061

Homesite

$2,163

Nationwide

$2,509

Pure Insurance

$3,121

Travelers

$4,823

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Cheapest home insurance in Baltimore if you have an older home

Insurance carriers consider older homes to have a higher risk of damage or loss compared to newer homes since they're constructed with older and more difficult to replace materials. Additionally, certain structural components in older homes, like the roof or plumbing systems, may not be up to code.

Here are the average homeowners insurance rates for Baltimore residents with older homes.

Company

Average annual cost

Brethern Mutual

$1,184

Foremost

$1,269

Armed Forces Insurance

$1,381

USAA

$1,550

Erie

$1,625

Penn National Insurance

$1,627

State Farm

$1,630

Donegal Insurance Group

$1,865

Allstate

$1,938

Chubb

$2,080

Homesite

$2,163

Nationwide

$2,534

Pure Insurance

$3,121

State Auto

$3,220

Travelers

$12,730

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Cheapest homeowners insurance in Baltimore if you have a history of claims

Claims history is one of the biggest factors that insurance companies use when calculating your home insurance premiums. If you have multiple claims on your record, your insurer will likely view you as a risk for filing future claims and may charge you higher rates as a result.

Here's the cheapest home insurance companies in Baltimore for a homeowner with three claims within a five-year period on their record.

Company

Average annual cost

Armed Forces Insurance

$1,381

Brethern Mutual

$1,538

State Farm

$1,630

Donegal Insurance Group

$1,787

Penn National Insurance

$2,098

USAA

$2,442

Chubb

$2,803

Foremost

$2,863

Erie

$3,106

Homesite

$3,827

Pure Insurance

$4,616

Allstate

$4,795

Nationwide

$4,877

State Auto

$5,396

Travelers

$21,866

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How to get homeowners insurance quotes in Baltimore

Comparing quotes from different home insurance companies is the best way to find the right coverage at the best price. By shopping around, you can determine which insurance company is best for you. Here are some steps to get you started:

6 steps to buying homeowners insurance in Baltimore, MD

  1. Reach out to a licensed Policygenius agent. Policygenius agents are home insurance experts. They can determine how much coverage you need and help you find it for the best price. Our services won’t cost you anything and won’t impact your credit score.

  2. Ask about the Maryland Joint Insurance Association — Maryland’s FAIR insurance plan. If you can’t find home insurance through a traditional company, the Maryland FAIR Plan has coverage options available to make sure your home is covered. 

  3. Consider purchasing flood insurance. Baltimore has seen persistent flooding in recent years, and flood insurance can protect your home and belongings from the effects of water damage. 

  4. Figure out how much you can afford to pay for your deductible. If you live in an area with frequent storm damage or theft, consider paying more to have a lower deductible. Multiple claims can quickly add up in out-of-pocket expenses. 

  5. Compare quotes from a Policygenius agent. Not all companies weigh the same factors in determining your home insurance rate. A Policygenius agent can help you compare quotes to find the best policy.

  6. Choose your policy, sign it, and pay your first premium. Once you’ve decided on which policy is best for your home, a Policygenius agent can sort through all the additional paperwork on your behalf. All that’s left for you to do is sign. 

Compare home insurance rates in Baltimore

We don't sell your information to third parties.

Frequently asked questions

Why does the average cost of home insurance vary in different neighborhoods?

Home insurance rates are based on a multitude of factors. Neighborhoods with higher value homes, older homes, or higher crime will likely see more expensive rates.

Will my bad credit be a factor in my home insurance rate?

Insurance companies look at your credit score to determine if you are likely to pay your bills on time or file a claim. Not all companies will charge more for bad credit, though, so shop around to find the best rate.

Is flood insurance included in my home insurance?

No. If you live in a flood zone, you should look into a separate flood insurance policy. Some mortgage lenders may even require it for your loan.

How does the crime rate in my area affect my home insurance?

High crime rates can result in more instances of theft and vandalism, and therefore more insurance claims. Due to this increased risk, insurers usually charge more in areas with high crime.

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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