The Cheapest Home Insurance in Maryland

Policies are as cheap as $71 a month in Maryland

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Best Homeowners Insurance in Maryland

Maryland homeowners pay an average of $98 a month for home insurance. Of the six most popular homeowners insurance providers in Maryland, Travelers has the lowest average rate at $71 a month. Where you live in Maryland, along with other factors such as the age and condition of your house, can affect your rate as well.

In this article

Cheapest home insurance companies in Maryland

Of the six largest providers of homeowners insurance in Maryland, Travelers has the lowest rate at $71 a month. Of the most popular home insurers in Maryland we studied, Chubb has the highest rate at $131 a month.

Company Average annual premium
Allstate $1,236
Chubb $1,566
Erie $1,094
Nationwide $1,257
State Farm $974
Travelers $847
USAA $1,224
Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary.

How much is home insurance in Maryland?

The average cost of home insurance in Maryland is $1,171 a year, or $98 a month. This is 40% lower than the national average rate of $1,754 a year.

If you want to lower your premium, you can increase your deductible amount. A deductible is the amount agreed upon with your home insurance company that you're required to pay when filing a claim.

Deductible Average annual premium
$500 $1,277
$1,000 $1,171
$1,500 $1,095
$2,000 $1,007
Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary.

Best home insurance companies in Maryland

In looking at the rates, policy offerings and customer service of the state's seven most used providers, we noted Travelers and Erie were the best homeowners insurance companies in Maryland for the following reasons:

Travelers: Cheapest rates in Maryland and best for eco-friendly homes

Travelers has the cheapest average homeowners insurance premium in Mayland at $64 a month. The table below shows Travelers rates in Maryland's biggest cities:

City Average annual premium
Baltimore $1,448
Columbia $925
Germantown $965
Silver Spring $947
Waldorf $1,213
Ellicott City $955
Frederick $884
Glen Burnie $1,109
Rockville $928
Gaithersburg $972
Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary.

On top of low rates, Travelers also offers incentives for green homes. You can get a discount of up to 5% if your home is certified by the Leadership Energy and Environmental Design organization as a “green home.” With Travelers, you can purchase additional protection that can cover green materials after a covered loss.

Erie: Best customer satisfaction

Erie's average home insurance rate of $91 a month is slightly below the state average, but that's not the company's key strength. Erie provides some of the best customer care of the Maryland insurers we surveyed.

In J.D. Power's Customer Satisfaction Study, Erie received a high rating of 835 out of 1,000, which is 10 points higher than the segment average. The study is based on a company's interaction, coverages, premium, claims and more.

Furthermore, Erie has a 0.30 complaint index rating, based on its ability to deal with claim-based issues such as payout and speed of resolution. A rating this low under the national average of 1.0, combined with their J.D. Power rating, puts Erie in the top spot for customer care in Maryland. The table below summarizes customer service ratings among insurance companies in Maryland.

Company Complaint Index (lower is better) 2021 J.D. Power overall satisfaction (higher is better)**
Allstate 1.12 829
Chubb 0.21 801
Erie 0.30 835
Nationwide 0.49 812
State Farm 1.01 835
Travelers 0.61 800
USAA 0.46 882
Note: Complaint Index data from 2021 NAIC report. J.D. Power ratings from 2021 U.S. Home Insurance Study.

USAA: Best for veterans

Although USAA has an annual average premium that is $53 more than the state average, USAA is still a great option if you're in the military or a veteran. USAA has the highest customer satisfaction score of 882 out of 1,000 in J.D. Power's 2021 U.S. Home Insurance Study.

USAA's home insurance covers uniforms in the event of a loss for military members. In the event of a covered loss, USAA will also pay for your personal belongings at today's replacement cost with no depreciation.

USAA only offers insurance to military personnel and veterans, as well as their families. But if you're one of the over 350,000 veterans living in Maryland, according to the Department of Veteran Affairs, USAA is a great choice for homeowners coverage.

Find cheap Maryland home insurance

The cheapest home insurance rates in Maryland cities

The table below shows the average monthly rates of the top seven providers in Maryland's biggest cities. Travelers has the lowest rate at $598 a year in Frederick, while Nationwide has the highest rate at $2,036 a year in Baltimore.

City Allstate Chubb Erie Nationwide State Farm Travelers USAA

Baltimore

$1,574

$1,617

$1,622

$2,036

$1,070

$989

$1,229

Columbia

$1,212

$1,012

$772

$919

$865

$668

$1,026

Germantown

$897

$1,341

$828

$875

$854

$965

$997

Silver Spring

$901

$1,415

$834

$870

$850

$711

$1,046

Waldorf

$1,118

$1,812

$1,084

$1,261

$995

$956

$1,264

Ellicott City

$1,203

$1,050

$763

$919

$858

$881

$1,013

Frederick

$738

$1,147

$758

$1,064

$867

$598

$1,016

Glen Burnie

$1,275

$1,396

$942

$1,370

$967

$682

$1,133

Rockville

$887

$1,357

$833

$869

$826

$707

$1,019

Gaithersburg

$897

$1,341

$827

$875

$895

$960

$1,010

Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary.

Methodology

We aggregated thousands of quotes from every ZIP code in Maryland. We used the following policy specifications:

  • Dwelling coverage: $275,000
  • Personal property coverage: 50% of dwelling ($137,500)
  • Other structures coverage: 10% of dwelling ($27,500)
  • Loss of use coverage: 20% of dwelling ($55,000)
  • Liability coverage: $100,000
  • Deductible: $1,000, unless otherwise noted

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