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 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 | |
|---|---|---|---|
$122 | 4.8 out of 5 | ||
$209 | 4.5 out of 5 | ||
$180 | 4.5 out of 5 | ||
$127 | 4.5 out of 5 | ||
$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.
2024 Policygenius award winner
State Farm
4.8
Bundle home & auto
Offers extended replacement cost
Offers flood insurance
Offers earthquake insurance
Wind/hail deductible
Offers wildfire insurance
Why we chose it
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 cons
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 details
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.
2024 Policygenius award winner
Erie
4.5
Mobile app
Bundle home & auto
Why we chose it
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 cons
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 details
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
2024 Policygenius award winner
Nationwide
4.5
Bundle home & auto
Mobile app
New homebuyer discount
Offers extended replacement cost
Why we chose it
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 cons
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 details
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
4.3
Bundle home & auto
New homebuyer discount
Offers flood insurance
Offers earthquake insurance
Offers extended replacement cost
Offers wildfire insurance
Why we chose it
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 cons
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 details
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.
2024 Policygenius award winner
Allstate
4.4
Bundle home & auto
Smart home discounts
Why we chose it
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 cons
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 details
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.
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% |
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% |
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% |
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 |
|---|---|
$952 | |
Brethern Mutual | $1,147 |
$1,376 | |
$1,381 | |
$1,435 | |
$1,460 | |
$1,518 | |
Penn National Insurance | $1,598 |
Donegal Insurance Group | $1,787 |
$1,854 | |
$2,061 | |
$2,163 | |
$2,509 | |
$3,121 | |
$4,823 |
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 |
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 |
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:
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.
