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 in the rest of the US, Maryland homeowners can often find an even better deal on home insurance by comparing rates and considering policies from as many companies as possible.Â
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:
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. Then, check out the results of The Zebra's Customer Satisfaction Survey for more information on the best homeowners insurers.
AFFORDABLE HOME INSURERS IN MARYLAND
| Insurance Company | Average 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 Level | Average 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 Tier | Average 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
| City | Average 12-Month Home Insurance Rate |
| Potomac | $937 |
| Bethesda | $937 |
| North Bethesda | $941 |
| Rockville | $947 |
| Aspen Hill | $953 |
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 | $109 | 9% |
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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 have homeowners insurance in Maryland?
GEICO does offer homeowners insurance in the state of Maryland.
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Natural disaster coverage in Maryland
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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.Â
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!
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 editorial 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.