Best homeowners insurance in Maryland for 2022

Gianetta Palmer

By 

Gianetta Palmer

Gianetta Palmer

Freelance contributor

Gianetta Palmer is a freelance writer who lives in the Georgia mountains. Her writing on health and car insurance, has appeared on numerous sites.

Updated

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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 $1,733 per year or $144 a month. This is around 9% lower than the national average of $1,899.

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However, the cost isn’t the only factor to consider when choosing a home insurance company. Not sure what to look for? Policygenius can help you figure out your coverage needs and compare quotes from multiple top companies in Maryland.  

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. USAA has the next lowest average rates at $1,384 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 yearly cost

J.D. Power Rating

State Farm

$1,311

835

USAA

$1,384

882

Allstate

$1,607

829

Travelers

$6,212

800

Erie

$1,423

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State Farm

State Farm logo

There's a reason State Farm is one of the top-rated insurance companies in the U.S. — its customer satisfaction ratings are through the roof, it offers a slew of coverage add-ons for full protection, and makes filing claims through its mobile app a breeze.

Pros

  • Top-tier coverage add-ons, including equipment breakdown, water backup, and service line coverage

  • Get up to $1 million in personal liability coverage

  • Score discounts for bundling, installing security devices, and choosing a high deductible

  • File and track claims online, over the phone, in person, or through its mobile app

  • High customer satisfaction and financial strength ratings

Cons

  • No discounts for first-time homebuyers or going a year without a claim

Why State Farm tops our best list

High customer satisfaction and financial strength ratings make State Farm one of the most trusted companies in the industry. State Farm customers can get up to $1 million in personal liability coverage and earn discounts by bundling home and auto policies or choosing a high deductible. State Farm’s representatives are available in person, online, over the phone, or through its mobile app. 

How to get a quote

Online through State Farm

USAA

USAA logo

USAA's robust coverages and high marks for customer service and claims satisfaction make it a solid home insurance option for military members and their families.

Pros

  • Score discounts for zero claims, being a loyal USAA member, opting into e-billing, and more

  • Base policy includes coverages that cost extra with most other companies

  • Offers earthquake coverage — which is hard to come by

  • Get discounted home security systems and a discount on premiums through its partnership with ADT

  • Industry-best customer service and claims satisfaction ratings

Cons

  • Only available to military families

  • Doesn’t offer extended or guaranteed replacement cost dwelling coverage

Why USAA tops our list

USAA is a great option for military members and their families looking for premium discounts, hard-to-find earthquake coverage, or discounted home security systems through its partnership with ADT. USAA’s base policy includes coverages that cost extra with most other companies. USAA customers receive discounts for zero claims, opting into e-billing, being a loyal USAA member, and more.

How to get a quote

Online through USAA

Allstate

Allstate logo

Allstate's mix of exceptional customer satisfaction ratings, personalized coverage options, and numerous discount opportunities make it one of the most popular homeowners insurance companies on the market.

Pros

  • Several coverage add-ons, including ones for roof surfaces, water backup, green improvements, and mold protection

  • 8+ discounts, including autopay, bundling, zero claims, and new homebuyer

  • Get up to 25% off your premiums when you bundle home and auto insurance

  • Excellent customer service and claims satisfaction ratings

  • File and track claims online or through its mobile app

Cons

  • Rates are typically high compared to competitors

Why Allstate tops our best list

Allstate scored an 829 out of 1,000 in J.D. Power’s 2021 home insurance study, making it one of the top companies in the country. Bundle your home and car insurance policies to earn a 25% discount with Allstate, and get personalized coverage options like water backup, green improvements, and mold coverage. 

How to get a quote

Online through Policygenius and Allstate

Travelers

Travelers logo

With over 165 years of experience and impeccable financial ratings, Travelers is one of the most trusted home insurance companies in the business. It offers personalized coverage and a slew of policy add-ons to ensure you have exactly the right protection.

Pros

  • 4 customizable policy packages with several available add-ons, like extended replacement cost and water backup coverage

  • Offers eco-friendly green home coverage and discounts

  • Protect expensive family heirlooms and appliances with equipment breakdown, guaranteed replacement cost, and personal articles coverage

  • File claims online — plus, Travelers has special catastrophe centers for claims after a natural disaster

Cons

  • Below-average customer service and claims satisfaction ratings

Why Travelers tops our best list

Travelers’ customers benefit from 165 years of experience and excellent financial ratings. Travelers offer four customizable home insurance policy packages with several add-ons, including extended replacement cost and water backup coverage. Customers feel confident protecting their home, appliances, and family heirlooms with equipment breakdown, guaranteed replacement cost, and personal articles coverage. 

How to get a quote

Online through Policygenius and Travelers

Erie

Erie logo

With some of the best customer service ratings in the industry, Erie offers comprehensive coverage even with its most basic policy — including guaranteed replacement cost coverage and protection for lost items.

Pros

  • Score up to a 25% discount when you bundle your home and auto insurance

  • Guaranteed replacement cost coverage is included in the base policy

  • Theft coverage includes lost or misplaced items — a rare perk we don't see often

  • Multiple policy add-ons available, including water backup and service line coverage

  • Among the best customer service ratings in the industry

Cons

  • Can't file claims online — must speak to an Erie agent on the phone

Why Erie tops our best list

Erie includes guaranteed replacement cost coverage in its base policy, which means its insured for a full rebuild, regardless of the cost. Erie also has several other policy add-ons, including water backup coverage, service line coverage, and theft protection that includes coverage for lost and misplaced items.  

How to get a quote

Online through Erie

Cheapest homeowners insurance companies by city in Maryland

Looking at average home insurance costs for the 15 most popular insurers in Maryland, we found that the cheapest homeowners insurance company in the state is State Auto.

The average State Auto rate in Baltimore is $952 per year, while Annapolis homeowners rates are $750 per year. 

City

Company

Average yearly cost

Abell

State Auto

$691

Aberdeen

State Auto

$742

Aberdeen Proving Ground

State Auto

$767

Abingdon

State Auto

$798

Accident

State Auto

$647

Accokeek

State Auto

$941

Adamstown

State Auto

$638

Allen

State Auto

$703

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Shopping for homeowners insurance in Maryland

Shopping for home insurance in Maryland should be quick and easy if you have the right tools to get you there. With help from a Policygenius agent, you’ll be able to get quotes from top companies and find the best home insurance at the most affordable price.

In this section, we break down the average annual home insurance rates in Maryland for those with poor credit, different coverage and deductible levels, and the cheapest and most expensive home insurance companies for dog and pool owners. 

Maryland home insurance costs by coverage amounts

Dwelling coverage is the part of your home insurance policy that pays to repair or replace your home after a covered loss. Your dwelling coverage amount should be equal to your home’s replacement cost, which is the amount it would cost to rebuild your home from the ground up — not its current market value.

Here is the average cost of home insurance for different levels of dwelling coverage in Maryland.

Dwelling coverage amount

Average yearly cost

$100,000

$933

$200,000

$1,333

$300,000

$1,733

$400,000

$2,153

$500,000

$2,663

Personal liability coverage is the portion of your home insurance policy that pays for medical, legal, or repair bills in the event you’re legally responsible for someone’s injury or property damage. 

Liability coverage amount

Average yearly cost

$100,000

$1,688

$200,000

$1,236

$300,000

$1,733

$400,000

$1,216

$500,000

$1,903

Maryland home insurance costs by deductible amount

Your deductible is the amount you’re responsible for paying your insurance company before they’ll reimburse you for a claim. A higher deductible means lower monthly payments, but more out-of-pocket expenses in the event of a claim. 

As you can see in the table below, Maryland residents can save around $500 on home insurance by choosing a $2,000 deductible over the $500 option.

Deductible amount

Average yearly cost

$500

$1,534

$1,000

$1,733

$2,000

$2,091

Home insurance discounts in Maryland

Some insurance carriers offer discounts to homeowners if their homes have certain features like deadbolt locks, smoke detectors, and home security systems. Although there isn’t a large discount for homeowners in Maryland for these features, having them in your home goes a long way to help you stay protected.

Discount

Average yearly cost

Dead bolt

$1,731

Smoke alarm

$1,729

Burglar alarm

$1,692

Home insurance companies in Maryland for dog owners

Maryland pet owners may pay more for home insurance if their dog is considered to be a “dangerous breed.” Some insurers charge higher rates for certain breeds and could even deny you coverage if you own one.

With an average rate of $1,311 per year, State Farm has the cheapest home insurance rates in Maryland for a home with a dangerous dog breed, while Travelers' average yearly rate is $6,212 per year.

Company

Average yearly cost

State Farm

$1,311

USAA

$1,384

Erie

$1,423

Allstate

$1,607

Travelers

$6,212

Home insurance companies in Maryland for pool owners

If you’ve always dreamed of having a swimming pool in your backyard, there’s no better time than the present. However, you might not know that some insurance companies charge higher rates for homes with a swimming pool because they are considered a liability risk. 

With an average rate of $1,331 per year, State Farm has the cheapest home insurance rates for Maryland homes that have a swimming pool, while Travelers has the most expensive rates at $7,035 per year.

Company

Average yearly cost

State Farm

$1,311

USAA

$1,384

Erie

$1,599

Allstate

$1,607

Travelers

$7,035

How to buy homeowners insurance in Maryland

One of the best ways to buy home insurance in Maryland is by comparing quotes online. But how do you know which insurer to choose? We’ve included our favorite tips in the list below to help you find the best coverage solutions at the best price.

  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.  

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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 —$166 lower than the national average of $1,899 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.

Methodology

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.