Homeowners Insurance in Maryland

Finding homeowners insurance doesn’t need to be complicated. Compare rates from Maryland by city and company below.

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How to find cheap homeowners insurance in Maryland


Homeowners insurance isn't required, but it is important. A home insurance policy keeps your personal items protected. A homeowners insurance policy covers your dwelling and property against a number of circumstances, including wind damage, fire, theft, vandalism, and more.

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.

The best way to get a cheap homeowners insurance policy in Maryland is to compare rates and consider policies from multiple companies. Learn how much home insurance costs in Maryland via the below breakdown. Remember: your rates will vary, depending on your coverage limits.


Maryland home insurance:
  1. Rates by company
  2. Rates by city
  3. Rates by coverage amount
  4. Rates by deductible level
  5. Bundling home and auto insurance
  6. FAQs

Home insurance prices in Maryland by company

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.


HOMEOWNERS INSURANCE RATES IN MARYLAND: BY CARRIER
CompanyAverage Annual Rate in Maryland
Brethren Mutual$694
Travelers$826
State Farm$896
Erie$1,019
USAA$1,197

Maryland home 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.


AFFORDABLE CITIES FOR HOME INSURANCE IN MARYLAND
CityAverage Yearly Home Insurance Rate
Potomac$937
Bethesda$937
North Bethesda$941
Rockville$947
Aspen Hill$953

Average homeowners insurance rates in Maryland 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.


HOMEOWNERS INSURANCE RATES IN MARYLAND — COMMON COVERAGE AMOUNTS
Coverage LevelAverage Annual Premium
$100,000 Dwelling$578
$200,000 Dwelling$877
$250,000 Dwelling$1,006
$400,000 Dwelling$1,465

Compare Homeowners Insurance Rates

Home 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 RATES BY DEDUCTIBLE LEVEL IN MARYLAND
Deductible LevelAverage Annual Home Insurance Rate
$500$1,080
$1,000$1,006
$1,500$953
$2,000$872
$5,000$749

Maryland insurance bundling discounts: home + auto

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 INSURANCE BUNDLING DISCOUNTS IN MARYLAND
Avg. Yearly Auto Insurance Rate (No Bundle)Avg. Annual Auto Insurance Rate (Bundle)Annual Bundle Savings% Savings with Bundle
$1,304$1,195$1099%

A great way to save is to bundle your auto and homeowners insurance policies. Find a policy today!


Seeking information on homeowners insurance in a specific city?

  1. Baltimore

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.




Kristine Lee LinkedIn

Kristine is a licensed insurance agent and one of The Zebra’s in-house content strategists. With a background in copywriting, she covers the ins and outs of the home and car insurance industries. She has contributed to numerous publications focused on the nuances of insurance, including Automoblog, USInsuranceAgents.com, and BestCompany.com.