The number one homeowners insurance company in Maryland by our estimation is State Farm. It has low premiums, offers numerous discounts, and has great online resources available for its members. It is not without strong competition, however.
Close on its heels are Allstate, Pennsylvania National (Penn National), Brethren Mutual, and USAA. Below we have provided our insights on these providers to help you find the best fit for you.
The 5 Best Homeowners Insurance Companies in Maryland
- State Farm
- Pennsylvania National Mutual Casualty Insurance Company
- Brethren Mutual Insurance
|State Farm||Allstate||Pennsylvania National Mutual Casualty Insurance Company||Brethren Mutual Insurance||USAA|
|Our review||Our review||Our review|
|AM Best Financial Strength Rating||A++||A+||A-||A-||A++|
|J.D. Power Overall Customer Satisfaction Score (Relevant region)||4/5||3/5||NA||NA||5/5|
|Online Quote Tool||✓||✓||X||X||✓|
|Compare rates||Compare rates||Compare rates||Compare rates||Compare rates|
Average Cost of Homeowners Insurance in Maryland
The Insurance Information Institute’s (III) most recent data shows the average price of homeowners insurance in Maryland is $1,037, which falls a good bit below the national average of $1,211. Just keep in mind that many things affect the price of your homeowners insurance besides the state in which you reside, including:
- Age, construction, and location of home
- Your credit score
- Your chosen policy
- Your chosen deductible
- Type of heating
- Previous claims
Home Insurance add-ons that will further protect you-
For many homeowners in Maryland the primary area of concern for homeowners is water damage, so if you’re near the coast or in proximity to flood zones, be sure to ask your provider what water damage is covered in your policy.
Another thing to consider is earthquakes. Parts of Maryland are considered to be at moderate risk of a damaging earthquake in the near future.
Water and Sewage Backup Endorsement
Water damage of any kind can be devastating, and having coverage for water and sewage backup can mitigate any risk you run of fighting insurance over the cause of loss.
In fact, the Maryland Insurance Administration indicates that all providers are legally required to offer it to their members.
Another form of water damage Maryland is at risk of is flooding. All it takes is one good hurricane or tropical storm and the damage is done.
Flood insurance can only be purchased through the National Flood Insurance Program (NFIP), which is offered by the U.S. government, but many providers have partnered with the NFIP so you won’t need to apply separately.
About half of Maryland is prone to frequent earthquakes because there are numerous fault lines throughout the state. Although many of them are considered harmless, homeowners are still at risk for possible property damage from quakes.
The National Association of Insurance Commissioners (NAIC) provides this helpful guide for purchasing earthquake insurance.
Helpful Resources for Maryland Homeowners
The Maryland Insurance Administration has helpful tools and resources for every type of insurance you can buy, and its homeowners insurance page is particularly helpful. Homeowners may find the following categories particularly informative, each with numerous links, tools, and videos:
- General information
- Earthquake insurance
- Early Cancellation/ Nonrenewal
- Rebuilding after a claim
Apply Online or In-Person?
Applying online or in-person is a matter of general preference. While some may prefer the convenience of conducting insurance business online at your own convenience, others may feel more comfortable setting up a policy in-person.
What do you need to apply?
Knowledge and information about your home is the only requirement for applying. If available, we recommend using your home inspection report to provide information, as your inspector will likely have answered all of the questions the insurance company is going to ask you.
If you’ve done extensive remodeling or repairs to your home, you’ll just need to know the approximate dates and cost involved.
Dates to keep in mind?
If you’re buying a home, you’ll need to have homeowners insurance before you close (as required by your lender).
If you’re switching companies, just make sure there aren’t any gaps in coverage. Your lender expects you to have homeowners insurance all times while you’re still making mortgage payments. Therefore, be sure to communicate any changes to your lender and escrow agent.
To determine the best homeowners insurance company in Maryland, we looked at a variety of factors. These included:
- AM Best rating
- J.D. Power rating
- Better Business Bureau rating
- Market share
- Average premium cost
- Online resources
- Complaints filed against it
Best Maryland Homeowners Insurance Companies
- Excellent financial strength rating
- Great online resources
- Low premiums and numerous discounts available
- Average customer satisfaction ratings
State Farm has the highest AM Best rating among providers, an indication of strong company financials. It offers some of the lowest premiums in Maryland, and makes it easy for its members to get discounts.
The only detraction compared to other providers is State Farm’s average customer satisfaction.
- Large amount of online resources
- Numerous opportunities to save
- Mobile app
- Large number of complaints filed against it
Allstate is a household name in the insurance industry and lands a spot among our top providers for several reasons. It has a well-reviewed mobile app, has a large amount of free resources online to help you understand and use your insurance policy, and offers multiple easy-to-achieve discounts.
Although Allstate has an “A+” rating with the BBB, it does have a large number of complaints filed against it. However, due to its size, this is not unexpected.
Pennsylvania National Mutual Casualty Insurance Company (Penn National)
- Offers mobile app
- Bundle with auto insurance to save
- Low volume of complaints
- No JD Power Rating
Pennsylvania National Mutual Casualty Insurance Company (Penn National) hasn’t been reviewed by JD Power or the Better Business Bureau, which leaves customer satisfaction somewhat undefined by standard metrics.
However, we included it as a top pick based on the fact that Penn National averages the lowest premiums in Maryland. Additionally, it provides users an effective mobile app and unique additional coverages not commonly offered by other providers.
Brethren Mutual Insurance Company
- Super low premiums
- Low customer complaints
- Not rated by JD Power
- Lack of online resources
Brethren Insurance isn’t officially accredited with the Better Business Bureau, but it has received an A+ rating. Its positive customer service is reflected in the incredibly low number of complaints filed with the BBB.
Brethren’s premiums are competitive compared to other companies in Maryland. Though it’s a little known company, its low rates are worth consideration in your comparisons.
- Top tier customer service
- Multiple discounts to its members
- Valuable online resources
- Comprehensive mobile app
- Only available to military and their immediate family
Another well-known provider in the industry, USAA is our top choice for all who are eligible. Although coverage is limited to just current and former military and their immediate family members, USAA has a few stellar features for homeowners.
Simply put, USAA is one of the highest rated insurance companies in the nation. It has extensive online resources, a comprehensive mobile app, offers multiple discounts to its customers that are easy to achieve, and has exceptional customer service (ranking 5/5 with J.D. Power).
The Cheapest Homeowner Insurance Companies In [State]
|Homeowner Insurance Companies||Average Annual Premium|
|Pennsylvania National Mutual Casualty Insurance Company||$679|
|Brethren Mutual Insurance Company||$898|
|Donegal Mutual Insurance Company||$1,149|
|Bankers Standard Insurance Company||$1,987|
|Average Across Companies||$1,264|
Homeowner Insurance by Age of Home
|Age of Home||Average Annual Premium|
|Average Across Ages||$1,490|
Quadrant home insurance rate data as of 12/01/2019.
These rates are a sample set meant only for general comparison. Your own premium will vary. Learn how we tested rates for the cheapest home insurance companies in our methodology.
Top 3 Cheapest Homeowner Insurance Companies in Maryland
- Pennsylvania National Mutual Casualty Insurance – $679
- Brethren Mutual Insurance Company – $898
- USAA – $911
Top 3 Most Expensive Homeowner Insurance Companies in Maryland
- Pure Insurance – $2,316
- Bankers Standard Insurance Company– $1,987
- Chubb – $1,439
The cheapest provider in Maryland is currently Pennsylvania National Mutual Casualty Insurance Company with an average annual premium of $679.
The most expensive is Pure Insurance with an average premium of $2,316.
Keep in mind that both premiums are based off of 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.
Homeowners Insurance FAQ
Is homeowners insurance required in Maryland?
Homeowners is not required presently in Maryland; however, if you have a mortgage your lender likely requires you to have it as both protection for you and them.
What is the cheapest homeowners insurance in Maryland?
Based on Quadrant data provided above, the cheapest homeowners insurance in Maryland is Pennsylvania National Mutual Casualty Insurance Company.
Who are the cheapest providers in Maryland?
The cheapest providers in Maryland are Pennsylvania National Mutual Casualty Insurance Company, Brethren Mutual Insurance Company, USAA, and State Farm.