Reviews Report
- USAA, Allstate, Pennsylvania National Mutual, and State Farm made our list of best home insurance companies in Maryland.
- The cheapest home insurance provider in Maryland is Brethren Mutual.
- The average cost of home insurance in Maryland is $1,124 per year.
Homeowners insurance isn’t a legal requirement in Maryland, but if you own a home, it’s a good investment. The average cost of homeowners insurance in Maryland is $1,124 per year for $250,000 in dwelling coverage, which is lower than the national annual average rate of $1,312, according to data from Bankrate.com.
Finding the best home insurance in Maryland can be challenging because there are so many providers on the market. We did some research and found that USAA, Allstate, Penn National Mutual, and State Farm have the best Maryland home insurance policies. We reviewed these companies based on their average rates, discounts, coverage options, and third-party ratings.
The 4 Best Homeowners Insurance in Maryland
- USAA: Best Maryland Home Insurance for Military-Focused Coverage
- Allstate: Best Maryland Home Insurance for Optional Coverages
- Pennsylvania National Mutual Casualty Insurance Company: Best Maryland Home Insurance for Discounts
- State Farm: Best Maryland Home Insurance for Online Tools
Compare the Best Maryland Home Insurance Companies
| AVERAGE ANNUAL PREMIUM* | J.D. POWER CUSTOMER SATISFACTION** J.D. Power scores are based on surveys for customer satisfaction and product quality. | AM Best AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim. | Standard & Poor’s Standard & Poor’s (S&P) rates creditworthiness for businesses, countries and cities that issue bonds. | ||
|---|---|---|---|---|---|
| Pin USAA | $832 | 889 | A++ | AA | |
| Pin Allstate | $1,371 | 829 | A+ | A- | |
| Pin Penn National | $707 | N/A | A- | BBB | |
| Pin State Farm | $1,007 | 829 | A++ | AA |
Information accurate as of July 2021
*Data provided by Bankrate.com
**J.D. Power’s 2020 Home Insurance Satisfaction Study. Based on a 1,000-point scale.
USAA
Best for Military-Focused Coverage
Why we chose it
Why we chose it
Pros
- Great customer service
- Competitive prices
- Policies include replacement cost coverage
Cons
- Must be affiliated with the military to get coverage
- Not many discounts
- Few local office branches
Available Discounts
- Policy bundling
- Protective device
- Claims-free
Additional Coverage
- Home sharing insurance
- Identity theft coverage
- Earthquake insurance
- Flood insurance
- Military uniform coverage
- Valuable personal property coverage
More USAA Insurance Reviews
Allstate
Best for Optional Coverages
Why we chose it
Why we chose it
Pros
- More discounts than some competitors
- Plenty of add-on coverage
- Resource- and tools-packed website
Cons
- High number of company complaints
- More expensive premiums than other companies
- Below-average ratings for claims satisfaction
Available Discounts
- Deductible rewards
- Claims-free
- Multi-policy
- Responsible payer
- Welcome and loyalty
- Home buyer
- Automatic payments
- Protective device
- Early signing
Additional Coverage
- Host Advantage insurance
- Flood insurance
- Identity theft restoration
- Water backup coverage
- Scheduled personal property coverage
- Business property coverage
- Sports equipment coverage
- Green improvement reimbursement
- Yard and garden coverage
- Electronic data recovery coverage
- Musical instruments coverage
More Allstate Insurance Reviews
Penn National Mutual Insurance
Best for Discounts
Why we chose it
Why we chose it
Pros
- Premiums cheaper than competitors
- Many available discounts
- Strong financial rating
Cons
- No online quotes available
- Very few optional coverages
- Not rated by J.D. Power
Available Discounts
- Claims-free
- Non-smoking household
- New homebuyer
- Retired homeowner
- Recent renovations
- Roof replacement
- Fire protective device
- Burglar protective devices
- Wind mitigation construction
- Smart home protective devices
- Automatic payments
- Multi-policy
Additional Coverage
- Replacement cost coverage
Valuable items coverage
State Farm
Best for Online Tools
Why we chose it
Why we chose it
Pros
- Financially strong
- Detailed online quotes
- Helpful tools and resources for first-time home insurance buyers
Cons
- Limited discounts
- Discounts are not available in every state
- Below-average claims satisfaction reviews
Available Discounts
- Multi-policy
- Home safety device
- Impact-resistant roof
Additional Coverage
- Replacement cost coverage
- Identity restoration coverage
- Flood insurance
- Water back up coverage
- Earthquake insurance
- Ordinance/law coverage
- Inflation coverage
- Personal articles coverage
More State Farm Insurance Reviews
*Data provided by Bankrate.com
**J.D. Power’s 2020 Home Insurance Satisfaction Study. Based on a 1,000-point scale.
Average Cost of Home Insurance in Maryland
Using 2021 Quadrant Information Services data from Bankrate.com, we analyzed home insurance companies in the United States and compared the best homeowners insurance rates in Maryland. We found that the average premium for home insurance in Maryland is $1,124 per year. However, homeowners may be able to find cheap home insurance rates, like $554 a year with Brethren Mutual Insurance Company.
These are sample rates and should be used for comparative purposes only. Your quotes may be different.
The coverage limits in the methodology are as follows:
- Coverage A, Dwelling: $250,000
- Coverage B, Other Structures: $25,000
- Coverage C, Personal Property: $125,000
- Coverage D, Loss of Use: $50,000
- Coverage E, Liability: $300,000
- Coverage F, Medical Payments: $1,000
- The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required).
Additionally, homeowners in Maryland’s neighboring states pay more or less for home insurance, depending on the risks in the area. In Delaware, the average annual premium is $680, and in Virginia, the average annual premium is $1,013. Maryland’s coastal location makes homes susceptible to damage from storms, which could contribute to the cost of home insurance in the state.
However, every Maryland homeowner pays a different rate for home insurance coverage. Premiums are personalized based on factors like ZIP code, age, claims history, the size of the home, the condition of the home, and the amount of coverage requested.
The Cheapest Homeowner Insurance Companies in Maryland
| Home Insurance Company | Average Annual Premium* |
| Brethren Mut Ins Co | $554 |
| Penn National | $707 |
| Travelers | $766 |
| USAA | $832 |
| Donegal | $941 |
| State Farm | $1,007 |
| Erie | $1,203 |
| Ace Ltd Grp | $1,239 |
| American Family | $1,272 |
| Allstate | $1,371 |
| Nationwide | $1,381 |
| Chubb | $1,392 |
| PURE | $1,911 |
*Based on $250,000 in dwelling coverage
Top 3 Cheapest Homeowners Insurance Companies in Maryland
- Brethren Mutual Insurance Company – $554 per year
- Pennsylvania National Mutual Casualty Insurance – $707 per year
- Travelers – $776 per year
Top 3 Most Expensive Homeowners Insurance Companies in Maryland
- PURE Insurance – $1,911 per year
- Chubb – $1,392 per year
- Nationwide – $1,381 per year
Bankrate’s 2021 data shows that the cheapest home insurance company in Maryland is currently Brethren Mutual with an average annual premium of $554. The most expensive is PURE Insurance with an average annual premium of $1,911.
Keep in mind that both premiums are based on the average premiums paid by customers and that neither necessarily represents what you would pay. To get a more accurate quote, you will need to contact each company directly.
Common Home Insurance Perils in Maryland
Because Maryland is located on the coast, there is a strong risk of severe weather that could potentially damage or destroy homes. For instance, flooding is a common occurrence due to heavy rainfall that can cause water levels in major rivers, like the Potomac and Susquehanna, to rise and overflow.
Additionally, Maryland ranks 11th in the nation for the number of homes that are at risk of damage from a storm surge. According to the Insurance Information Institute, there are 126,589 homes in Maryland that could potentially get damaged by a category five storm.
Wildfires can also damage homes in Maryland. The Maryland Forest Service responds to an average of 123 wildfires every year, and fire departments across the state respond to over 5,000 wildfire incidents annually. The Maryland Department of Natural Resources explains that 4% of Maryland wildfires are caused by lightning, and the rest are caused by humans.
Add-on home insurance coverage in Maryland
If you look on your home insurance declaration page, you’ll see that your home insurance policy doesn’t cover everything. That’s why Maryland homeowners should consider purchasing add-on coverages for more protection and to fill gaps in their standard policy.
Flood insurance is one of the most important coverage considerations in Maryland, even if you don’t live along the immediate coastline. USAA, Allstate, and State Farm each offer flood insurance through the National Flood Insurance Program (NFIP). Although a few companies offer flood insurance as an endorsement to your home insurance policy, you will typically need to purchase an entirely separate flood insurance policy. Water backup/sump pump coverage can also be beneficial, because home insurance usually doesn’t cover this type of water damage without an endorsement.
If you keep valuable items in your home, like fine art, jewelry, collections, money, or furs, you may want to consider purchasing scheduled personal property coverage. All of the providers we reviewed offer a type of policy that will extend policy coverage limits for valuable items.
Here are some Maryland home insurance resources that can help you learn more about your coverage needs:
- Maryland Insurance Administration’s Homeowners Insurance Guide
- Baltimore Office of Sustainability’s Flood Insurance Guide
- Maryland Insurance Administration’s Insurance Preparedness for Natural Disasters
Maryland Home Insurance FAQ
Methodology
We evaluated the companies based on their third-party agency ratings for customer experience, financial stability, as well as coverage options to determine which might be the best providers.
To compare home insurance companies across the board, we considered the following factors
- Coverage: The more options a home insurance company has for insurance add-ons and coverages, the higher it scores in our methodology.
- Customer Experience: We reviewed the National Association of Insurance Commissioners’ National Complaint Index and compared each homeowners insurance company’s complaint rating.
- Customer Satisfaction: With J.D. Power’s 2020 Home Insurance Satisfaction Study, we assigned a score to each company based on the rating it received.
- Financial Stability: Reviews.com utilized AM Best ratings to assign a score based on each home insurance company’s financial stability.
- Discounts: We reviewed and compared the number of discounts advertised on each home insurance company’s website. The more available discounts, the higher the score in this metric.
Rates are based on quoted annual premiums from Bankrate.com. These are sample rates and should be used for comparative purposes only. Your quotes may be different.
The coverage limits for home insurance rates reflect the following coverage and limits:
- Coverage A, Dwelling: $250,000
- Coverage B, Other Structures: $25,000
- Coverage C, Personal Property: $125,000
- Coverage D, Loss of Use: $50,000
- Coverage E, Liability: $300,000
- Coverage F, Medical Payments: $1,000
The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required).
About the Authors
Cate Deventer is a writer and licensed insurance agent. She has a Bachelor’s degree in theatre and is currently pursuing a degree in English with a concentration in professional and technical writing from Indiana University East. Her work has been featured on Reviews.com and Bankrate.com, and she’s passionate about helping people take charge of their finances. In her free time, she likes to read thrillers and sci-fi novels, garden, and toss tennis balls for her dog.
