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Maryland homeowners insurance: what you need to know

The average cost of home insurance in Maryland is $1,211 per month or $101 per year.  While premium costs are lower than the rest of the US, Maryland homeowners can often find an even better deal on homeowners insurance by comparing rates and considering policies from as many companies as possible. 

Unlike auto insurance, home insurance isn't priced specifically by state. Even so, serious differences emerge in home insurance rates on a state-by-state basis. Insurance policy costs by state differ based on the number and total value of homeowners claims in that state, and also on the value of the belongings and dwelling you're insuring.

Learn how much home insurance costs in Maryland via the below breakdown. Remember: your rates will vary, depending on your coverage limits.

 
Table of contents:
  1. Rates by company
  2. Rates by coverage amount
  3. Rates by deductible amount
  4. Rates by city
  5. Bundling savings
  6. Frequently asked questions
  7. Natural disaster coverage
 

The cheapest home insurance companies in Maryland

Home insurance prices in Maryland differ depending on the insurer you select. Brethren Mutual provides the most affordable home insurance in Maryland — only $694 per year. This beats the state's average cost of $1,211, providing a $517 price cut on average statewide home insurance costs.

Begin the hunt for a home insurance policy by reviewing the cheapest Maryland insurance companies, listed below.

 
AFFORDABLE HOME INSURERS IN MARYLAND
Insurance CompanyAverage Yearly Rate in Maryland
Brethren Mutual$694
Travelers$826
State Farm$896
Erie$1,019
USAA$1,197
 
 

Maryland home insurance prices by coverage levels

How much you pay for home insurance coverage is greatly influenced by the level of coverage you choose. In Maryland, carrying $200,000 dwelling coverage costs an average of $877 per year, while maintaining coverage up to $400,000 costs as much as $1,465 per year.

 
POPULAR COVERAGE LIMITS IN MARYLAND
Coverage LevelAverage Annual Cost
$100,000 Dwelling$578
$200,000 Dwelling$877
$250,000 Dwelling$1,006
$400,000 Dwelling$1,465
 

Homeowners insurance deductibles in Maryland

Homeowners have numerous choices to make when buying a homeowners insurance policy, including how high or low to set their deductible. A deductible is the amount for which a homeowner is responsible before an insurance company steps in to cover costs. Where you choose to set your homeowners deductible is linked to how much you pay in insurance premiums.

When choosing a deductible, a good rule of thumb is that the lower your deductible, the higher your premiums. This means that those seeking lower home insurance costs will want to think about getting a higher deductible. Keep in mind that your deductible should only be as high as you can reasonably afford in the event of a covered loss.

The following table displays the average rates affiliated with most deductibles.

 
HOME INSURANCE PREMIUMS BY DEDUCTIBLE IN MARYLAND
Deductible TierAverage Annual Homeowners Insurance Rate
$500$1,080
$1,000$1,006
$1,500$953
$2,000$872
$5,000$749
 

Maryland homeowners insurance costs by city

Home insurance rates in Maryland vary by city. Policy pricing depends on city-specific variables like the number of local claims filed, meaning your ZIP code could have a major impact on how much you pay.

The best homeowners insurance in Maryland is available in Potomac. A typical home insurance term in Potomac totals just $937 every 12 months — $274 less than the average Maryland rate. The below table shows the best places to live in Maryland if you’re looking for cheap homeowners insurance.

 
CHEAPEST CITIES FOR HOMEOWNERS INSURANCE IN MARYLAND
CityAverage 12-Month Home Insurance Rate
Potomac$937
Bethesda$937
North Bethesda$941
Rockville$947
Aspen Hill$953
 

Seeking information on homeowners insurance in a specific city?

  1. Baltimore

 

Home and auto insurance bundling in Maryland

If you want to save, consider holding your home and auto policies with the same insurance company. A home and car insurance bundle in Maryland can save you a substantial sum each month on car insurance. Bundling policies in Maryland leads to a yearly discount of $109.

 
HOME AND AUTO BUNDLING DISCOUNTS IN MARYLAND

Avg. Annual Rate (No Bundle)

Avg. Annual Rate (w/ Bundle)

Annual Savings ($)

Annual Savings (%)

$1,304$1,195$1099%
 

 

Maryland homeowners insurance FAQs

 

Is homeowners insurance required in Maryland?

The state of Maryland does not require you to have homeowners insurance, but it's likely your lender will require it.

Does GEICO do homeowners insurance in Maryland?

GEICO does offer homeowners insurance in the state of Maryland.

 


 

Natural disaster coverage in Maryland

 

Does homeowners insurance cover flooding in Maryland?

Flood damage — regardless of cause —is not covered by homeowners insurance policies. To insure your home against flood damage, acquire insurance through FEMA's National Flood Insurance Program (NFIP) or via a private insurer. 

Flood insurance coverage from private companies may vary, but NFIP flood insurance covers:

  • $250,000 for your home’s structure
  • $100,000 for your personal property

If the value of your personal property and home exceeds these limits, consider purchasing a flood insurance policy from our partners at Neptune for additional protection.

Find an affordable homeowners policy in Maryland today!

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Kristine Lee
Kristine LeeManager, Content and Data

Kristine is a licensed insurance agent and one of The Zebra’s in-house content researchers and writers.

With a background in copywriting, she covers the ins and outs of auto, home, life and renters insurance, providing data-backed insights and information to help insurance shoppers make informed decisions. Kristine has contributed her insurance expertise to publications such as Automoblog, USInsuranceAgents.com and BestCompany.com. Her research has been cited by Car and Driver.

About The Zebra

The Zebra is not an insurance company. We publish data-backed, expert-reviewed resources to help consumers make more informed insurance decisions.

  • The Zebra’s insurance content is written and reviewed for accuracy by licensed insurance agents.

  • The Zebra’s insurance content is not subject to review or alteration by insurance companies or partners.

  • The Zebra’s editorial team operates independently of the company’s partnerships and commercialization interests, publishing unbiased information for consumer benefit.

  • The auto insurance rates published on The Zebra’s pages are based on a comprehensive analysis of car insurance pricing data, evaluating more than 83 million insurance rates from across the United States.