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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