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Cate Deventer is a writer, editor and insurance professional with over a decade of experience in the insurance industry as a licensed insurance agent. Amy Sims is a managing editor for Bankrate, leading a team responsible for creating educational insurance content. Mark Friedlander is director of corporate communications at III, a nonprofit organization focused on providing consumers with a better understanding of insurance. Updated Nov 07, 2022 Find your perfect provider
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Collapse Caret Up Finding the best home insurance in Maryland is easier with Bankrate's research to help. Our review found that Maryland homeowners pay lower-than-average rates - but we also know that price isn't everything. A proper home insurance policy fits your budget and gives you financial peace of mind that you are adequately covered. We chose the best home insurance companies in Maryland based on a number of key metrics, so you can feel more confident as you shop for coverage. Collapse On This Page
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Founded in 1976, Bankrate has a long track record of helping people make smart financial choices. We've maintained this reputation for over four decades by demystifying the financial decision-making process and giving people confidence in which actions to take next. Bankrate follows a strict , so you can trust that we're putting your interests first. All of our content is authored by and edited by , who ensure everything we publish is objective, accurate and trustworthy. Our insurance team is composed of agents, data analysts, and customers like you. They focus on the points consumers care about most - price, customer service, policy features and savings opportunities - so you can feel confident about which provider is right for you. We guide you throughout your search and help you understand your coverage options. We provide up-to-date, reliable market information to help you make confident decisions. We reduce industry jargon so you get the clearest form of information possible. All providers discussed on our site are vetted based on the value they provide. And we constantly review our criteria to ensure we're putting accuracy first. On This Page
Finding the best home insurance in Maryland is easier with Bankrate's research to help. Our review found that Maryland homeowners pay lower-than-average rates - but we also know that price isn't everything. A proper home insurance policy fits your budget and gives you financial peace of mind that you are adequately covered. We chose the best home insurance companies in Maryland based on a number of key metrics, so you can feel more confident as you shop for coverage. This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions. Compare home insurance rates
Answer a few questions to see personalized rates from top carriers. Continue Powered by Coverage.com (NPN: 19966249) Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in . Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way. Quick Facts $382/year average savings through Bankrate 2 out of 3 homes are underinsured 1 out of every 20 insured homes makes a claim each year 100% of homes need insurance before getting a mortgage Bankrate See more providers in Choose from insurers in Show More Mortgage Leaving so soon Your custom quotes are just minutes away
Return to form Key takeaways Bankrate found that USAA, State Farm and Chubb are some of the best home insurance companies in Maryland. Maryland homeowners pay lower-than-average rates compared to nationwide averages. Maryland residents may want to build home insurance policies to protect against damage from hurricanes and other types of water issues. Finding the best home insurance in Maryland is easier with Bankrate's research to help. Our review found that Maryland homeowners pay lower-than-average rates - but we also know that price isn't everything. A proper home insurance policy fits your budget and gives you financial peace of mind that you are adequately covered. We chose the best home insurance companies in Maryland based on a number of key metrics, so you can feel more confident as you shop for coverage. This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions. Compare home insurance rates
Answer a few questions to see personalized rates from top carriers. Continue Powered by Coverage.com (NPN: 19966249) Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in . Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way. Quick Facts $382/year average savings through Bankrate 2 out of 3 homes are underinsured 1 out of every 20 insured homes makes a claim each year 100% of homes need insurance before getting a mortgage Bankrate See more providers in Choose from insurers in Show More Mortgage Leaving so soon Your custom quotes are just minutes away
Return to form Key takeaways Bankrate found that USAA, State Farm and Chubb are some of the best home insurance companies in Maryland. Maryland homeowners pay lower-than-average rates compared to nationwide averages. Maryland residents may want to build home insurance policies to protect against damage from hurricanes and other types of water issues. Finding the best home insurance in Maryland is easier with Bankrate's research to help. Our review found that Maryland homeowners pay lower-than-average rates - but we also know that price isn't everything. A proper home insurance policy fits your budget and gives you financial peace of mind that you are adequately covered. We chose the best home insurance companies in Maryland based on a number of key metrics, so you can feel more confident as you shop for coverage. This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions. Compare home insurance rates
Answer a few questions to see personalized rates from top carriers. Continue Powered by Coverage.com (NPN: 19966249) Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in . Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way. Quick Facts $382/year average savings through Bankrate 2 out of 3 homes are underinsured 1 out of every 20 insured homes makes a claim each year 100% of homes need insurance before getting a mortgage Bankrate See more providers in Choose from insurers in Show More Mortgage Leaving so soon Your custom quotes are just minutes away
Return to form Key takeaways Bankrate found that USAA, State Farm and Chubb are some of the best home insurance companies in Maryland. Maryland homeowners pay lower-than-average rates compared to nationwide averages. Maryland residents may want to build home insurance policies to protect against damage from hurricanes and other types of water issues. Compare rates and save on home insurance today! Get quotes Close X Compare rates and save on home insurance today! Get quotes Close X Compare rates and save on home insurance today! Get quotes Close X How Bankrate chose the best home insurance companies in Maryland
When searching for the in Maryland, Bankrate's insurance editorial team started by reviewing the largest home insurance companies by market share in the state. We analyzed average premiums obtained from Quadrant Information Services, but we also reviewed coverage offerings, discounts, customer satisfaction scores from the and financial strength ratings from . We combined these metrics into a Bankrate Score on a scale of 0.0 to 5.0, which higher Scores meaning a more highly-rated company. Everyone's insurance needs are different, so it is important to understand what company may best fit your unique situation. Our Bankrate Score method can help you quickly see if a company could fit your needs.
Bankrate utilizes Quadrant Information Services to analyze 2022 current rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. Quoted rates are based on 40-year-old male and female homeowners with a clean claim history, good credit and the following coverage limits: Coverage A, Dwelling: $250,000 Coverage B, Other Structures: $25,000 Coverage C, Personal Property: $125,000 Coverage D, Loss of Use: $50,000 Coverage E, Liability: $300,000 Coverage F, Medical Payments: $1,000 The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required). These are sample rates and should be used for comparative purposes only. Your quotes will differ.
Bankrate Scores are calculated on a five-point scale and primarily reflect a weighted rank of industry-standard ratings for financial strength and customer experience in addition to analysis of quoted annual premiums from Quadrant Information Services, spanning all 50 states and Washington, D.C. We know it is important for homeowners to be confident their financial protection covers the likeliest risks, is priced competitively and is provided by a financially-sound company with a history of positive customer support. To determine how well the best home insurance companies satisfy these priorities, third-party agency ratings from , , , , and Moody's had the most impact on the companies' Bankrate Scores. As price is a common consideration for homeowners, we analyzed quoted premiums based on 40-year-old male and female homeowners with a home policy with $250,000 in dwelling coverage. This profile, assessed across nearly 35,000 ZIP codes in the U.S., provided a basis on which homeowners may compare each provider. While coverage options, insurer availability, affordability and customer experience are often the top priorities, Bankrate also analyzed each insurer's online and mobile resources for policy management and claims handling. Insurance is rapidly evolving to keep pace with our digital world, so these aspects also carried weight in determining Bankrate Scores. Best home insurance companies in Maryland
USAA, State Farm and Chubb are among the best Maryland home insurance companies, according to our research. These companies earned stellar Bankrate Scores, indicating impressive customer service and financial strength ratings. On top of that, the companies offer lower average annual premiums, allowing policyholders to find great coverage at a favorable price. If you're shopping for the best homeowners insurance in Maryland, you may want to consider with these four providers: Insurance company AM Best J.D. Power Average monthly premium* Average annual premium* Bankrate Scores primarily reflect a weighted rank of industry-standard ratings for financial strength and customer experience in addition to analysis of quoted annual premiums from Quadrant Information Services, spanning all 50 states and Washington, D.C. Bankrate Scores primarily reflect a weighted rank of industry-standard ratings for financial strength and customer experience in addition to analysis of quoted annual premiums from Quadrant Information Services, spanning all 50 states and Washington, D.C. AM Best A++ (Superior) J.D. Power 884 /1,000 Average monthly premium* $67 Average annual premium* $807 Bankrate Scores primarily reflect a weighted rank of industry-standard ratings for financial strength and customer experience in addition to analysis of quoted annual premiums from Quadrant Information Services, spanning all 50 states and Washington, D.C. Bankrate Scores primarily reflect a weighted rank of industry-standard ratings for financial strength and customer experience in addition to analysis of quoted annual premiums from Quadrant Information Services, spanning all 50 states and Washington, D.C. AM Best A++ (Superior) J.D. Power 829 /1,000 Average monthly premium* $85 Average annual premium* $1,025 Bankrate Scores primarily reflect a weighted rank of industry-standard ratings for financial strength and customer experience in addition to analysis of quoted annual premiums from Quadrant Information Services, spanning all 50 states and Washington, D.C. Bankrate Scores primarily reflect a weighted rank of industry-standard ratings for financial strength and customer experience in addition to analysis of quoted annual premiums from Quadrant Information Services, spanning all 50 states and Washington, D.C. AM Best A++ (Superior) J.D. Power 809 /1,000 Average monthly premium* $113 Average annual premium* $1,357 Bankrate Scores primarily reflect a weighted rank of industry-standard ratings for financial strength and customer experience in addition to analysis of quoted annual premiums from Quadrant Information Services, spanning all 50 states and Washington, D.C. Bankrate Scores primarily reflect a weighted rank of industry-standard ratings for financial strength and customer experience in addition to analysis of quoted annual premiums from Quadrant Information Services, spanning all 50 states and Washington, D.C. AM Best A+ (Superior) J.D. Power 815 /1,000 Average monthly premium* $117 Average annual premium* $1,398 Powered by Coverage.com (NPN: 19966249) This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions. Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in . Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way. *Premiums are for $250K in dwelling coverage **Not officially ranked by J.D. Power due to eligibility restrictions This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions. Compare home insurance rates
Answer a few questions to see personalized rates from top carriers. Continue Powered by Coverage.com (NPN: 19966249) Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in . Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way. Quick Facts $382/year average savings through Bankrate 2 out of 3 homes are underinsured 1 out of every 20 insured homes makes a claim each year 100% of homes need insurance before getting a mortgage Bankrate See more providers in Choose from insurers in Show More Mortgage Leaving so soon Your custom quotes are just minutes away
Return to form Key takeaways Bankrate found that USAA, State Farm and Chubb are some of the best home insurance companies in Maryland. Maryland homeowners pay lower-than-average rates compared to nationwide averages. Maryland residents may want to build home insurance policies to protect against damage from hurricanes and other types of water issues. Explore Bankrate's review J.D. Power: AM Best: ++ Avg. annual premium for 250k dwelling $ Company overview USAA does not qualify for official ranking with J.D. Power because its membership is limited to military members, veterans and their qualifying family members. However, the company consistently receives high scores for customer satisfaction and traditionally offers low average rates for its insurance products. As such, it may be worth considering this insurance company if you qualify for membership. If you are a member of the military community, you may get some of the lowest rates in Maryland, as well as have access to military-focused coverage types like uniform coverage. Pros and cons CheckmarkPros Home insurance premiums are lower than average Excellent third-party scores and ratings Close XCons Eligibility limited to military members, veterans and their immediate families Mostly handles policy needs online or by phone Average annual premium by city Maryland city USAA avg. annual premium for $250k dwelling Baltimore $812 Columbia $732 Germantown $700 Explore Bankrate's review Explore Bankrate's review J.D. Power: AM Best: ++ Avg. annual premium for 250k dwelling $ Company overview State Farm has local exclusive agents across Maryland, so if you prefer to handle your insurance needs in person, the company might be a good fit. Additionally, State Farm offers solid online resources, including an informative blog and home inventory tool. State Farm does not offer as many discounts as many of its competitors, but you may save by insuring multiple policies, having a newer roof or installing a security system. Pros and cons CheckmarkPros Local in-person agencies, online, mobile app and over-the-phone options Good coverage options without high deductibles Close XCons Higher-than-average complaints tracked by the National Association of Insurance Commissioners (NAIC) Does not offer as many home insurance discounts as some other companies Average annual premium by city Maryland city State Farm avg. annual premium for $250k dwelling Baltimore $1,040 Columbia $919 Germantown $932 Explore Bankrate's review Explore Bankrate's review J.D. Power: AM Best: ++ Avg. annual premium for 250k dwelling $ Company overview Chubb's average Maryland premium is higher than the state's average, but the company provides more standard coverage types than the other companies on our list. Electronic data restoration, lock replacement and tree removal coverage are standard with Chubb. If you have a , Chubb may be a good fit; the company offers options tailored to the needs of luxury homeowners. Pros and cons CheckmarkPros Coverage tailored to high-value homes Trained risk consultants available to inspect the home for preventative damage Close XCons Average premiums are more expensive Eligibility restrictions may be apply based on dwelling coverage amount Average annual premium by city Maryland city Chubb avg. annual premium for $250k dwelling Baltimore $1,514 Columbia $1,016 Germantown $1,276 Explore Bankrate's review Explore Bankrate's review J.D. Power: AM Best: + Avg. annual premium for 250k dwelling $ Company overview Although its average rates are higher than Maryland's average, Allstate may make up for the higher premium by offering a wide range of coverage types to help you round out your policy. You may be interested in adding yard and garden coverage, electronic data recovery coverage or business property coverage. The company also offers several discounts, including savings for new homebuyers, security systems, auto and home insurance bundle discount and claims-free customers. Pros and cons CheckmarkPros Several digital tools available Policies available online and through local agents in the state Close XCons J.D. Power score is lower-than-average Coverage is more expensive, on average Average annual premium by city Maryland city Allstate avg. annual premium for $250k dwelling Baltimore $1,628 Columbia $1,381 Germantown $1,060 Explore Bankrate's review How much is homeowners insurance in Maryland
The average cost of homeowners insurance in Maryland is $1,136 annually for a policy with $250,000 in dwelling coverage. This is less than the of $1,383 for the same coverage amounts. The higher average cost for home insurance in Maryland may be due in part to its location on the Atlantic coast. The state is more vulnerable to damaging weather events like hurricanes than Mid-Atlantic or Eastern states that are farther inland, like Pennsylvania. However, rates can vary even by ZIP code, so you may pay more or less based on your specific location within Maryland. Home insurance in Maryland
Each state has its own unique set of features that impact premiums and coverage choices. If you live in Maryland, being aware of these geographical factors can help you tailor your insurance coverage to your needs. Common causes of loss in Maryland
If you live in Maryland, you should be aware of what kind of losses might affect your home. Some common causes of damage include: : Maryland's position on the coast leaves it vulnerable to hurricanes. In fact, over are at risk for storm surge damage from Category 1 through Category 5 hurricanes, according to the Insurance Information Institute. : Nearly occurred in Maryland in 2020. Although that is a decrease of about 19 percent from 2019, it is still a noteworthy number of incidents. : In 2014, the most recent year with compiled data, home fires in Maryland caused over $166 billion in structural and contents damage. Fires can start for a number of reasons and can cause devastating damage. : In July and August, Maryland had thunderstorms , on average. These storms could cause water damage to homes if water enters through a damaged roof or siding. Additionally, water damage can happen when pipes freeze and burst during cold winters or when water backs up into a drain line in heavy rains. Understanding the common losses in your specific area might help you to choose appropriate property insurance coverage. Home insurance coverage options in Maryland
If you live in Maryland, there are several additional coverage types you may want to consider in addition to the standard home insurance coverage. These include: : Most counties in Maryland are at an increased risk of experiencing a flood event, according to the Federal Emergency Management Agency (FEMA). Flood damage is not covered by homeowners insurance. You must purchase a separate policy to obtain coverage through FEMA's National Flood Insurance Program or private insurers. : This endorsement is designed to pay for the damages to your home's structure, your personal property or both if you experience water damage caused by a sewer or drain line backup. This most commonly happens in basements when sump pumps cannot keep up in heavy rain, but it can also happen from any sewer or drain line. : Many homeowners insurance companies offer this endorsement, which helps pay for the cost of restoring your identity if it is stolen. When shopping for home insurance, talking to a licensed agent can be helpful. An agent familiar with the needs of Maryland homeowners may be able to help guide you to appropriate coverage. This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions. Compare home insurance rates
Answer a few questions to see personalized rates from top carriers. Continue Powered by Coverage.com (NPN: 19966249) Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in . Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way. Quick Facts $382/year average savings through Bankrate 2 out of 3 homes are underinsured 1 out of every 20 insured homes makes a claim each year 100% of homes need insurance before getting a mortgage Bankrate See more providers in Choose from insurers in Show More Mortgage Leaving so soon Your custom quotes are just minutes away
Return to form Frequently asked questions
The in Maryland for you will depend on a variety of factors. Your home insurance premium is determined by factors including the age of your home, your claims history, what coverage options you choose and what discounts you qualify for. Getting quotes from several carriers might help you compare prices to see which company offers the coverage you need at a price that fits your budget.
You will first need to get a homeowners insurance quote. To do this, you may be able to access an online quoting tool, call an insurance company or visit a local agency. You will need your address, your date of birth, the year your home was built and an idea of the coverage you would like to purchase. You may also need information about your home's features, like if you have upgraded kitchen cabinets or custom features. Once you have received a quote and decided to proceed, a representative from the company will let you know the next steps. These may involve signing an application and making a premium payment, unless your policy is paid from your and billed to your mortgage company.
Homeowners insurance coverage is not legally required in Maryland or any other state. However, your lender will likely require you to obtain a home insurance policy if you have a mortgage loan on your home. It's worth noting, though, that having a policy in place could be beneficial even if your home loan is paid off or the property was purchased with cash. Not only does a homeowners insurance policy help protect your finances from covered losses that require repairs or rebuilds, but it could also provide liability and personal property coverage, or other optional coverage.
Yes. Maryland, along with a few other states, do not use credit as a rating factor in the same way as many other states. Maryland uses some credit-related information when rating auto insurance policies but does not use credit as a factor for homeowners insurance policies. Written by Cate Deventer Insurance Writer & Editor Cate Deventer is a writer, editor and insurance professional with over a decade of experience in the insurance industry as a licensed insurance agent. Amy Sims is a managing editor for Bankrate, leading a team responsible for creating educational insurance content. Mark Friedlander is director of corporate communications at III, a nonprofit organization focused on providing consumers with a better understanding of insurance.