The Best and Cheapest Homeowners Insurance in Maryland
The Best and Cheapest Homeowners Insurance in Maryland

The Best and Cheapest Homeowners Insurance in Maryland

Choosing the best home insurance company for your situation requires not only looking at differences in cost, but besides an understand of the coverages and level of servicing involved. To figure out which insurers offer the greatest respect to Maryland homeowners, we gathered hundreds of quotes and examined the customer service quality of a twelve providers .

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The average price of home policy in Maryland is about $ 1,392 per year .
This is slightly more expensive than the typical price of coverage in the United States, which we calculated to be $ 1,083 .
In our research, we found rates for a typical home indemnity policy in Maryland that went angstrom humble as $808 per year of coverage. however, we besides found that evaluating home insurance companies required more than barely comparing quotes. here are our recommendations for dependable coverage in the free State .

Cheapest options for homeowners insurance in Maryland

The cheapest homeowners policy for most people in Maryland is Travelers, which sells coverage for $ 808. On the early hand, the most expensive was Chubb, which sells homeowners insurance for an average of $ 1,922 .
A bar graph showing the average costs of homeowners insurance in Maryland
A bar graph showing the average costs of motorcycle insurance in STATE

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Best homeowners insurance for most people: State Farm

State Farm Home InsuranceGet a Quote State Farm ‘s policies are dependable for property owners looking for standard or individualized homeowners indemnity. { “ bannerDisclaimers ” : [ ], ” buttonColor ” : ” chief ”, ” buttonIcon ” : ” lock ”, ” buttonText ” : ” Get a Quote ”, ” category ” : ” auto_insurance_companies ”, ” cloudinaryImageName ” : ” referral_logos\/us\/insurance\/statefarm-2 ”, ” description ” : ” State Farm ‘s policies are good for property owners looking for standard or personalized homeowners insurance. “, ” details ” : [ ], ” disavowal ” : ” ”, ” featuredTitle ” : ” ”, ” connection ” : ” hypertext transfer protocol : \/\/insurance.mediaalpha.com\/zero-click.html ? cu=https : \/\/www.statefarm.com & carrier=State % 20Farm ; V3-KqiM8njdUmnsgCxn7FDJD0uB3sJUh9wBJ1vHHWSJ0ejfGjMTDslMuO7nbOCg_6xpk_FXibtxuHjX68d0aQeJyivBQSQ ”, ” name ” : ” State Farm Home Insurance ”, ” hideBanner ” : assumed, ” hideDescription ” : false, ” hideDetails ” : dependable, ” hideDisclaimer ” : false, ” hideTitle ” : true, ” title ” : ” State Farm Home Insurance ” }
Read the fully review The best homeowners indemnity for most of Maryland ‘s property owners is State Farm. The supplier ‘s most low-cost coverage on median has industry-standard protective covering that will make it a fit for a typical homeowner. For those who want to enhance their homeowners indemnity, State Farm besides offers a diverseness of upgradable features .
The average monetary value of homeowners insurance from State Farm is about $ 1,051 per year in Maryland, about 25 % cheaper than the statewide average. additionally, you could reduce the price of your agio if you bundle your homeowners insurance with State Farm ‘s car policy. You could besides save if your home is outfitted with fire alarms, smoke alarms or a reinforce roof .
State Farm ‘s homeowners indemnity normally comes with protection for your home and property from normally insured perils, such as hoist, open fire and falling objects. But if you ‘re person that wants more auspices, State Farm has a few extra features. You could upgrade your policy with :

  • Water and sump pump backup protection
  • Identity theft restitution and recovery services
  • Additional coverage for personal property
  • An endorsement that consolidates prolonged hurricane damage into one deductible

The claims service from State Farm comes highly rated, besides. The National Association of Insurance Commissioners ( NAIC ), the industry ‘s standard setting group, reports that State Farm receives about 80 % fewer complaints than would be expected based on the size of its market share. This makes its customer service among the best of the companies we surveyed .

Most affordable homeowners insurance: Travelers

TravelersGet a Quote On average, Travelers is the most low-cost homeowners policy in the state and has many available upgrades. { “ bannerDisclaimers ” : [ ], ” buttonColor ” : ” primary ”, ” buttonIcon ” : ” lock ”, ” buttonText ” : ” Get a Quote ”, ” category ” : ” auto_insurance_companies ”, ” cloudinaryImageName ” : ” referral_logos\/us\/insurance\/travelers-2 ”, ” description ” : ” On average, Travelers is the most low-cost homeowners insurance in the state and has many available upgrades. “, ” details ” : [ ], ” disavowal ” : ” ”, ” featuredTitle ” : ” ”, ” link ” : ” hypertext transfer protocol : \/\/www.travelers.com\/ ”, ” name ” : ” Travelers ”, ” hideBanner ” : false, ” hideDescription ” : fake, ” hideDetails ” : true, ” hideDisclaimer ” : false, ” hideTitle ” : true, ” entitle ” : ” Travelers ” }
Read the full review Travelers sells the most low-cost homeowners policy in Maryland on average, with a price of $ 808 per year. This is about 42 % cheaper than the average price of coverage in the department of state, and about $ 200 less than the following cheap supplier .
On top of offering the cheapest average homeowners policy in Maryland, Travelers gives you many ways to reduce the price of your policy even further. You may be able to lower your premium if you :

  • Bundle your homeowners insurance with another form of coverage
  • Bought your home less than 12 months ago
  • Install protective devices, such as smoke detectors or sprinklers, in your home
  • Have a loss-free insurance history
  • Own a home that’s been certified green by LEED
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There are endorsements available to add onto your Travelers homeowners insurance policy. A standard policy should meet the needs of most homeowners, but you can enhance your coverage with refilling cost coverage, $ 25,000 of identity larceny protection and water backup guard, among others .
You wo n’t have to exchange depleted prices for poor customer service with Travelers. According to the NAIC, Travelers has a charge index of 0.44, much less than the 1.0 the organization uses to represent an insurance company ‘s expected number of complaints .

Best for complete coverage: Erie

ErieGet a Quote Erie ‘s homeowners insurance policies come with substitute cost coverage and heedful customer service.

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Read the full moon inspection Erie sells the best homeowners policy for Marylanders who want to maximize their coverage. Erie ‘s standard coverage comes with substitution price coverage : If you submit a claim after a loss, your compensation wo n’t be deducted based on your home ‘s disparagement. alternatively, you ‘d be reimbursed enough to replace your property ‘s current materials adenine long as the cost did n’t exceed your policy ‘s limit .
Despite including bounty coverage, homeowners policy from Erie costs about $ 1,114 per annum, around 20 % less than the statewide average. You can besides purchase a few extra add-ons, including water backup and cesspool pump overflow, identity recovery services and serve line protection .
Erie ‘s protection comes with some of the best-rated customer avail in this view. Erie is creditworthy for about 85 % fewer complaints than its size would suggest. In Maryland, the insurance company only received eight complaints in 2018 .

Best for military families: USAA

USAAGet a Quote USAA has the best coverage for Maryland ‘s military households. { “ bannerDisclaimers ” : [ ], ” buttonColor ” : ” primary ”, ” buttonIcon ” : ” lock ”, ” buttonText ” : ” Get a Quote ”, ” class ” : ” auto_insurance_companies ”, ” cloudinaryImageName ” : ” referral_logos\/us\/insurance\/usaa-3 ”, ” description ” : ” USAA has the best coverage for Maryland ‘s military households. “, ” details ” : [ ], ” disavowal ” : ” ”, ” featuredTitle ” : ” ”, ” yoke ” : ” hypertext transfer protocol : \/\/www.usaa.com\/inet\/wc\/insurance-products ? akredirect=true ”, ” name ” : ” USAA ”, ” hideBanner ” : delusive, ” hideDescription ” : false, ” hideDetails ” : true, ” hideDisclaimer ” : false, ” hideTitle ” : true, ” style ” : ” USAA ” }
Read the full follow-up USAA is the best homeowners policy for eligible households, including active or retire military serve members and their families. coverage from the USAA is specially catered to meet the needs of members of the military .
Homeowners policy from USAA comes with protection for your undifferentiated if its damaged during active voice or reserve duty. If you or person in your family is enrolled at the U.S. Navy Academy at Annapolis, you may besides qualify for excess protective covering for your laptop if it was issued by the school .
The median monetary value of homeowners indemnity from USAA is about $ 1,368 per year. This is n’t much cheaper than Maryland ‘s typical price of coverage, but since you receive substitution cost coverage and the best customer service of any provider in our survey, we recommend considering USAA is you ‘re eligible .

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Maryland’s homeowners insurance rates: city-by-city breakdown

We computed the modal cost of coverage in Maryland ‘s 50 most populate cities using the datum we collected for analyzing the department of state ‘s homeowners policy companies. Below, we ‘ve communicated these results in a table .
The most expensive city in Maryland for homeowners insurance is Baltimore, which charges about 30 % more than the statewide average. We found that the least expensive cities for homeowners coverage are Frederick, Rockville and Aspen Hill .

City

Average

% from Statewide Average

Baltimore $1,802 29%
Columbia $1,118 -20%
Germantown $1,122 -19%
Silver Spring $1,115 -20%
Waldorf $1,416 2%
Frederick $1,030 -26%
Ellicott City $1,149 -17%
Glen Burnie $1,371 -2%
Gaithersburg $1,128 -19%
Rockville $1,100 -21%
Bethesda $1,092 -22%
Dundalk $1,393 0%

Show All Rows

The homeowners insurance companies with the best reviewed customer service

To determine which homeowners indemnity company in Maryland has the best customer service, we compared data from the NAIC ‘s complaint exponent and each company ‘s J.D. Power customer atonement scores .
The NAIC calculates each insurance company ‘s complaint index by dividing its number of complaints by its market partake. A score less than 1.0 means that a party is creditworthy for fewer complaints than indicated by its size, while a complaint index of more than 1.0 means an insurance company gets more complaints than its size would suggest .
The best review homeowners policy companies in Maryland are USAA, Erie and Chubb, which all have complaint indices that are less than 0.20. Travelers has the highest complaint index of the companies we surveyed, but its score of 0.44 does n’t indicate that it ‘s creditworthy for an excessive number of complaints .

Company

NAIC Value

JD Power

AM Best (financial strength)

State Farm 0.20 4/5 A++
Allstate 0.31 3/5 A+
Erie 0.17 5/5 A+
USAA 0.15 5/5 A++
Travelers 0.44 2/5 A++
Nationwide 0.24 2/5 A+
Chubb 0.18 2/5 A++

Most common homeowners insurance perils in Maryland: Flooding and snow

As Maryland is a seaside state, it ‘s subject to a range of water-related perils, such as deluge and hurricanes. Toward the concentrate and western parts of the state, the risk of flood goes down but is replaced by likely damage from snow .
No matter your identify in Maryland, it ‘s important to understand how your homeowners indemnity would protect your property from common perils if you suffered damage. Being prepared for the types of natural disasters that are most probable to impact your family can help you decide if an insurance company is the best fit for you .

Does homeowners insurance cover flooding?

Most homeowners insurance policies do n’t cover flooding. In fact, to buy coverage for flood damage you ‘ll have to purchase a policy through a individual insurance company or the National Flood Insurance Program. Flood insurance can be expensive. A typical policy costs about $ 700, but depending on your localization the price could vary .
If your home is located on Maryland ‘s easterly side and you ‘re apprehensive about how you ‘d be affected by the wind and flood damage that hurricanes can cause, it ‘s worth knowing that your homeowners policy policy likely covers wind damage that results from tropical cyclones .
however, you should make certain that you have adequate coverage to rebuild your home plate if it were destroyed, considering the way that disparagement will impact any compensation you receive after a disaster .

Does homeowners insurance cover snow damage?

If your family sits on Maryland ‘s eastern side, you credibly wo n’t have to worry about getting heavy snow regularly. As the state stretches toward the appalachian Mountains, the amount of snow per year increases. fortunately, the price that snow could cause is frequently covered by homeowners insurance .
Homeowners insurance policies typically include coverage for damage caused by the weight of accumulated bamboozle or ice rink. additionally, you should be covered for leaks that result from melting bamboozle.

Methodology

For this survey, we collected quotes from seven of Maryland ‘s largest homeowners indemnity providers. We gathered quotes from every ZIP code in the country using a sample profile for a $ 312,500 home that was built in 1976. These numbers correspond to the medial home value and median year built of owner occupied houses in the express .
The insurers we got data from are :

  • State Farm
  • Allstate
  • Erie
  • USAA
  • Travelers
  • Nationwide
  • Chubb

ValuePenguin ‘s analysis used indemnity rate data from Quadrant Information Services. These rates were publicly sourced from insurance company filings and should be used for relative purposes only — your own quotes may be different .

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