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 $2,052 per year or $171 a month. This is around 18% higher than the statewide average of $1,733 per year, and about 8% higher than the national average of $1,899.
However, 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 Baltimore.
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 homeowners insurance companies in Baltimore
Of the companies in Baltimore we looked at, USAA’s average annual premium of $1,376 is the lowest — around 30% lower than the Maryland average. 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 $6,419 with Travelers.
Policygenius analyzed thousands of quotes from the 5 largest Baltimore 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 Baltimore residents to find the best homeowners insurance in Baltimore.
Company | Average yearly cost | J.D. Power Rating |
|---|---|---|
State Farm | $1,460 | 835 |
USAA | $1,376 | 882 |
Allstate | $2,061 | 829 |
Travelers | $6,419 | 800 |
Erie | $1,518 | -- |
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
Read our full State Farm home insurance review
Why State Farm tops our best list
State Farm’s highly rated customer service extends to their mobile app. From your phone, you can view your ID cards, file and track claims, and even take photos of damage in your home to expedite the claim process.
How to get a quote
Online through State Farm
Why USAA tops our best list
USAA’s J.D. Power score of 882 is among the best in the industry. While only available for members of the armed forces and their families, USAA customers in Baltimore will receive some of the best service and claim satisfaction around.
How to get a quote
Online through USAA
Why Allstate tops our best list
You can save money with Allstate by taking advantage of their many discounts. Reduce the cost of your homeowners insurance by bundling your home and auto policies, paying your bills on time, renewing your policy, setting up automatic payments, and more. Allstate makes home insurance more affordable with so many ways to save.
How to get a quote
Online through Policygenius or Allstate
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
Read our full Travelers home insurance review here
Why Travelers tops our best list
Travelers offers several high-quality home insurance coverage add-ons. With identity fraud protection, you can receive up to $25,000 to restore your identity in case it’s stolen. Travelers also offers an option to cover additional costs when rebuilding or repairing your home with “green” materials.
How to get a quote
Online through Policygenius or Travelers
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
Read our full Erie home insurance review here
Why Erie tops our best list
Erie’s base home insurance policy includes coverage that other companies don’t offer, including guaranteed replacement cost dwelling coverage. Erie’s theft coverage extends to items that are lost or misplaced — a perk not offered by many other companies.
How to get a quote
Online through Erie
Cheapest homeowners insurance companies by ZIP code in Baltimore
Looking at average home insurance costs for 15 of the most popular companies in Baltimore, we found that the cheapest home insurance in the city can be found in the 21225 ZIP code (Brooklyn Park) with State Auto. The average State Auto rate in this area is $825 per year — almost 60% less than the city average of $2,052 per year.
While prices in Baltimore fluctuate in different ZIP codes, the table below shows how State Auto offers the cheapest average yearly costs in the city.
ZIP code | Company | Average yearly cost |
|---|---|---|
21201 | State Auto | $938 |
21202 | State Auto | $918 |
21205 | State Auto | $973 |
21206 | State Auto | $1,034 |
21210 | State Auto | $893 |
21211 | State Auto | $939 |
21212 | State Auto | $904 |
21213 | State Auto | $1,136 |
21214 | State Auto | $958 |
21215 | State Auto | $1,030 |
21216 | State Auto | $1,093 |
21217 | State Auto | $964 |
21218 | State Auto | $1,049 |
21223 | State Auto | $927 |
21224 | State Auto | $901 |
21225 | State Auto | $825 |
21229 | State Auto | $984 |
21230 | State Auto | $917 |
21231 | State Auto | $904 |
21233 | State Auto | $918 |
21239 | State Auto | $1,006 |
21240 | State Auto | $876 |
21250 | State Auto | $858 |
21251 | State Auto | $916 |
21287 | State Auto | $934 |
The most affordable areas for homeowners insurance in Baltimore
With an average home insurance rate of $1,533 per year, the 21240 ZIP code (BWI Airport), is the most affordable area for home insurance in Baltimore. Homes in the listed areas tend to be smaller with lower values, which don’t cost as much to insure as larger houses.
ZIP code | Average yearly cost |
|---|---|
21240 | $1,533 |
21250 | $1,610 |
21225 | $1,893 |
21210 | $1,920 |
21211 | $1,935 |
The most expensive areas for homeowners insurance in Baltimore
With an average home insurance rate of $2,910, the 21233 ZIP code (Downtown Baltimore) is the most expensive area for home insurance in Baltimore. These areas include older homes built prior to 1939, which makes them more expensive to insure.
ZIP code | Average yearly cost |
|---|---|
21233 | $2,910 |
21287 | $2,773 |
21223 | $2,144 |
21213 | $2,132 |
21205 | $2,102 |
Shopping for homeowners insurance in Baltimore
When shopping for homeowners insurance, it’s important to understand your coverage options and how much of each you might need. By knowing the right amount of coverage you need for your home, you can ensure you are not overpaying or left underinsured.
Baltimore residents should have enough dwelling coverage to cover damage from both tropical and winter storms, as well as theft and vandalism in areas of higher crime.
In this section, we break down the average annual home insurance rates in Baltimore for different coverage and deductible levels, as well as the cheapest and most expensive home insurance companies in the state for individuals with a poor credit score, dog owners, and pool owners. Once you’re ready to shop, a Policygenius expert can help you navigate your coverage needs and help you find the best deal on homeowners insurance in Baltimore.
Baltimore home insurance costs by coverage amounts
Dwelling coverage helps cover the cost of repairing or rebuilding your home after a covered loss. This amount is based on the rebuild cost of your home, which includes construction materials and labor costs.
In Baltimore, more dwelling coverage will lead to higher rates on your policy. As the table shows, a policy with $100,000 in dwelling coverage costs an average of $1,087 per year, while a policy with $500,000 in dwelling coverage costs $3,171 — a difference of over $2,000.
Dwelling coverage amount | Average yearly cost |
|---|---|
$100,000 | $1,087 |
$200,000 | $1,574 |
$300,000 | $2,052 |
$400,000 | $2,560 |
$500,000 | $3,171 |
Liability coverage protects you from lawsuits if you are responsible for someone’s injuries or damage to their property. The amount of coverage in your policy should be based on the total value of your assets, including your house, cars and other vehicles, and liquid assets.
Liability coverage amount | Average yearly cost |
|---|---|
$100,000 | $2,023 |
$200,000 | $1,593 |
$300,000 | $2,052 |
$400,000 | $1,559 |
$500,000 | $2,215 |
Baltimore home insurance costs by deductible amount
Your homeowners insurance deductible is the amount you pay out of pocket on each claim. A higher deductible often means lower home insurance rates, and vice versa.
As seen in the table below, Baltimore residents can save around $341 on home insurance by choosing a $2,000 deductible over the $500 option.
Deductible amount | Average yearly cost |
|---|---|
$500 | $1,933 |
$1,000 | $2,052 |
$2,000 | $2,274 |
Home insurance discounts in Baltimore
Insurers will often offer discounts on your home insurance rates if you install safety devices to secure your home. When you have a smoke detector, burglar alarm, or deadbolt, you are less likely to file an insurance claim. These discounts incentivize customers to make their homes safer, which reduces insurance costs.
While you won’t get a huge discount if your house has one of the following features and nothing else, they can add up if you have several protective devices in your home. Here is the average annual rate and average discount percentage for homes in Baltimore with deadbolts, smoke alarms, or burglar alarms.
Discount | Average yearly cost |
|---|---|
Dead bolt | $2,049 |
Smoke alarm | $2,048 |
Burglar alarm | $1,999 |
Home insurance companies in Baltimore for dog owners
Insurance companies often charge higher rates for owners of certain dog breeds, as these dogs account for more instances of bite-related liability claims.
With an average rate of $1,376 per year, USAA has the cheapest home insurance rates in Baltimore for a home with a dangerous dog breed, while Travelers’ average yearly premium of $6,419 is the highest.
Company | Average yearly cost |
|---|---|
USAA | $1,376 |
State Farm | $1,460 |
Erie | $1,518 |
Allstate | $2,061 |
Travelers | $6,419 |
Home insurance companies in Baltimore for pool owners
Pool owners are at a higher risk of filing a liability claim and will often see higher home insurance rates as a result. But not all companies use this as a factor to determine your rate, so be sure to shop around and compare policies if you have a swimming pool.
With an average rate of $1,386 per year, USAA has the cheapest home insurance rates for Baltimore homes that have a swimming pool, while Travelers’ average yearly premium of $7,233 is the most expensive.
Company | Average yearly cost |
|---|---|
USAA | $1,376 |
State Farm | $1,460 |
Erie | $1,709 |
Allstate | $2,061 |
Travelers | $7,233 |
How to buy homeowners insurance 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:
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.
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.
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.
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.
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.
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.
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.
