Baltimore, MD Homeowners Insurance

Learn more about how to find affordable homeowners insurance in Baltimore.

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How to find affordable homeowners insurance in Baltimore

 

Home insurance is an important part of owning a home. Along with your home furnishings and other belongings, homeowners insurance covers your dwelling in the event of many perils, including theft, fire, wind damage, and vandalism. Incidents like this occur often. When paired with the high cost of repairing or rebuilding a home, investing in homeowners coverage can seem like a great idea.

The cost of homeowners insurance coverage depends on myriad factors, including the value of the dwelling, the value of your personal items, and the materials used to construct the home. The location of your dwelling can also play a large role in how much you pay for home insurance. Some geographic areas are susceptible to perils such as hail, wildfires, pipe freezes, volcanoes, and other hazards. These perils can lead to more expensive homeowners insurance rates. Learn more info about what is covered by a homeowners insurance policy.

Finding the cheapest home insurance in Baltimore starts with shopping around and comparing policies. Have a look at the summary below comparing average home insurance premiums in Baltimore to begin your home insurance search with as much information as possible. Remember: your homeowners insurance costs may vary based on your coverage limits and other factors.

 
Baltimore, Maryland, home insurance — table of contents:
  1. Rates by company
  2. Rates by coverage amount
  3. Rates by neighborhood
  4. Rates by deductible amount
  5. Bundling discounts

 

Homeowners insurance in Baltimore by insurance company

What you pay for homeowners insurance in Baltimore will depend on the insurance company you get your policy through. State Farm offers the most affordable home insurance in Baltimore, at just $986 per year. This compares favorably to the city’s average homeowners premium of $1,516.

Below you'll find a list of the cheapest home insurance companies in Baltimore, Maryland to help you begin your search.

 
AFFORDABLE HOMEOWNERS INSURANCE COMPANIES IN BALTIMORE
CompanyAverage Annual Rate
State Farm$986
Brethren Mutual$1,147
USAA$1,290
Allstate$1,458
American Family$1,525

 

Average homeowners insurance costs in Baltimore by coverage levels

Your chosen level of homeowners coverage impacts the insurance premiums you pay. In Baltimore, carrying $200K dwelling coverage costs an average of $1,121, while carrying additional coverage up to $400K costs $1,881/year.

 
HOMEOWNERS INSURANCE RATES IN BALTIMORE — POPULAR COVERAGE LIMITS
Coverage LevelAverage Annual Rate
$100K Dwelling$712
$200K Dwelling$1,121
$250K Dwelling$1,276
$400K Dwelling$1,881

 

Baltimore homeowners insurance rates by ZIP code

Not every area of Baltimore has equal home insurance costs. The amount of claims filed in your local area can be a factor in determining the price of your policy. Put simply, where you live could have a huge impact in what you pay for insurance.

To find the cheapest home insurance rates in Baltimore, look no further than 21240. In the 21240 area, homeowners coverage usually costs just $1,191 per year — a full $324 less than the Baltimore average. Find the best places to live in Baltimore for cheap home insurance by looking at the table below.

 
AFFORDABLE AREAS FOR HOMEOWNERS INSURANCE IN BALTIMORE
ZIP CodeAverage Annual Home Insurance Rate
21240$1,191
21250$1,227
21234$1,464

Other areas of Baltimore, it should be noted, face homeowners rates that are higher than the city average. Such areas might face a higher danger of perils such as fires or severe weather events. Similarly, they may also have a higher amount of crimes such as burglary or vandalism. With an annual average premium of $1,583, 21216 comes in as the costliest ZIP code in Baltimore for homeowners coverage.

 
EXPENSIVE AREAS FOR HOMEOWNERS INSURANCE IN BALTIMORE
ZIP CodeAverage Annual Home Insurance Rate
21216$1,583
21223$1,580
21213$1,576

 

Home insurance deductibles in Baltimore

Homeowners have numerous choices to make when deciding on a homeowners policy, including how high or low to set their deductible. A homeowners deductible is how much your insurance requires you to pay out of pocket toward a claim. Where you set your deductible can play a significant role in the cost of your insurance coverage.

When thinking about your deductible, a good rule of thumb is that the lower your deductible, the higher your premiums. Therefore, consider a higher deductible if you are hoping to lock in lower home insurance premiums. Be mindful of the fact that your deductible should only be as high as you can reasonably pay if you suffer a loss.

The table below reveals the typical premiums associated with most deductibles.

 
HOMEOWNERS INSURANCE RATES BY DEDUCTIBLE LEVEL IN BALTIMORE
Deductible LevelAverage Annual Homeowners Insurance Rate
$500$1,387
$1,000$1,276
$1,500$1,207
$2,000$1,099
$5,000$943

 

Money-saving tip: bundle home and auto insurance in Baltimore

One way to save on insurance costs is to think about bundling your homeowners and auto insurance policies through the same company. Bundling home and auto insurance can save you a substantial sum each month on your auto insurance bill. By bundling your policies, Baltimore homeowners could see annual savings of 11% on average.

 
CHEAPEST CAR INSURANCE RATES WITH HOME BUNDLE IN BALTIMORE
CompanyAvg. Annual Auto Insurance Rate (With Bundle)
Erie$1,288
GEICO$1,396
USAA$1,702
State Farm$2,032
Nationwide$2,304
 

A great way to save on insurance is to bundle your home and auto policies with the same insurance company.

 

Compare home insurance quotes today!

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Ava Lynch LinkedIn

Ava worked in the insurance industry as an agent for four-plus years. Currently providing insights and analysis as one of The Zebra’s resident property insurance experts, Ava has been featured in publications such as U.S. News & World Report, GasBuddy, and Yahoo! Finance.