Homeowners Insurance Maryland: Our Top Picks 2021

Last modified: September 15, 2021

Homeowners insurance in Maryland offers coverage for damages caused by natural disasters, theft, or other loss to belongings. Homeowners insurance is a necessity for residents who want to keep their home and their belongings safe. It goes without saying that you would want to find the best homeowners insurance in Maryland to get the best coverage possible. Here, you will find out all you need to know about home insurance in Maryland so that you are able to make a more informed decision.

If you are looking for affordable homeowners insurance outside of Maryland – make sure to check out our list of best homeowners insurance companies in the US.

Is Homeowners Insurance Required in Maryland?

While you can do some due diligence of your own by reading reviews from other homeowners, we are going to tell you all you need to know about homeowners insurance in Maryland. Although you aren’t required by law to get homeowners insurance in Maryland, a mortgage lender will require you to have purchased homeowners insurance for the protection of the property until after the loan has been fully repaid.

The standard homeowners insurance policy comes in four types of coverage; dwelling, personal property, liability, and other structures. There are a number of factors that need to be considered when getting homeowners insurance in Maryland, from the location of the home to its size. The risk of not getting homeowners insurance in Maryland is that you will not get compensation for any damages done to your property or belongings. This is why homeowners insurance is a must-have.

Common Causes of Home Insurance Losses in Maryland

Maryland is one of the US states that are at an increased risk of snowfall and freezing temperatures, along with other causes such as fires and so on, which makes homeowners insurance a smart investment. This is why homeowners should ask for earthquake home insurance in Maryland for protection against additional risks.

How Much is Homeowners Insurance in Maryland?

While you can find affordable homeowners insurance in Maryland, finding the right insurance provider for your specific needs can be a tough nut to crack. Luckily, there are ways in which you can find the best home insurance Maryland rates. Those who are searching for reliable homeowners insurance need to consider various factors. You can also use comparison sites to find the best Maryland home insurance rates along with bundled options so that you can get the most bang for your buck. The average cost of homeowners insurance in Maryland is around $72, but this cost will vary depending on multiple factors such as, the home’s size, location, crime rate as well as other factors that will be determined by the insurance provider.

Cheapest Homeowners Insurance in Maryland

While there are options for cheap homeowners insurance in Maryland, you still have to find them. It is important to note that home insurance rates depend on multiple factors, including the location and city you live in. If you live in the most expensive real estate in Maryland, you will have to pay more in premium as compared to other low-cost living areas in Maryland.

City Cheapest Rate
Baltimore $92
Columbia $95
Germantown $90

Best Homeowners Insurance Companies in Maryland

Company Best For Coverage Discounts Pricing
Allstate Homeowners
  • Property
  • Possessions
  • Liability
  • Additional living expenses
  • Additional coverage
Yes $4,400
Erie Homeowners
  • Property
  • Possessions
  • Liability
  • Additional living expenses
  • Additional coverage
Yes $900
AAA Homeowners
  • Property
  • Possessions
  • Liability
  • Additional living expenses  
  • Additional coverage
Yes $1,850
Amica Homeowners
  • Property
  • Possessions
  • Liability
  • Additional living expenses
  • Additional coverage
Yes $2,000
Ameriprise Homeowners
  • Property
  • Possessions
  • Liability
  • Additional living expenses
  • Additional coverage
Yes $1,600
State Farm   Homeowners
  • Property
  • Possessions
  • Liability
  • Additional living expenses
  • Additional coverage
Yes $3,800
Hartford Homeowners
  • Property
  • Possessions
  • Liability
  • Additional living expenses
  • Additional coverage
Yes $1,300
Farmers Homeowners  
  • Property
  • Possessions
  • Liability
  • Additional living expenses
  • Additional coverage
Yes $2,500

 

Detailed Reviews 

Allstate Home Insurance

Allstate is one of the best choices for insurance coverage. The provider enjoys a high satisfaction rate when it comes to pricing and coverage options. Customers also benefit from fast claim processing along with access to bundled options.

 

Erie Home Insurance

Erie offers reliable homeowners insurance for residents in Maryland.  The provider is known to offer some of the most affordable prices for homeowners insurance. They have a solid A+ rating by AM Best for their affordable cost and financial strength. The provider also enjoys a full 5/5 score by JD Power, and 0.17 NAIC value for their excellent customer service.

 

AAA Homeowners Insurance

AAA homeowners insurance offers great rates and discounts for residents in Maryland. The provider has been known to deliver a reliable coverage option for homeowners, along with excellent customer service as well. Their JD Power score and AM Best ratings vary from state to state but are above average in all 50 states that AAA operates in. The provider is well known for their quality insurance coverage with members getting access to additional benefits which makes it a great option for homeowners in Maryland.

 

Amica Home Insurance

Amica has been providing homeowners insurance for many years and delivers top-rated customer service. Amica enjoys an A AM Best rating along with an excellent A+ BBB rating, and a 5/5 JD Power rating because of their commitment towards excellence in customer service.

 

Ameriprise Home Insurance

Ameriprise offers reliable and affordable home insurance coverage for residents of Maryland. The insurance provider offers affordable rates for residents in 44 states, including Washington, D.C. The NAIC complaint ratio is just 1.23, which is a testament to their commitment to their customers. Ameriprise also has a positive A rating by AM Best for its strong financial strength.

 

State Farm Home Insurance

State Farm is a reliable provider of homeowners insurance in Maryland. The provider offers one of the best coverage options in the state. The insurance provider also enjoys higher than average ratings that are a testament to the level of quality they offer.

 

The Hartford Home Insurance

Hartford offers homeowners insurance with coverage for your personal property and home. What makes this policy different from many others is that it also covers sheds and garages as well. The insurance provider has an A+ rating for financial strength by AM Best. The provider has continued to enjoy positive ratings for its exceptional customer service and fast processing of insurance claims.

 

Farmers Home Insurance

Farmers is a trusted name when it comes to homeowners insurance in Maryland. The insurance provider enjoys a high A+ rating from the BBB and also has a decent customer service rating. The insurance provider also offers an iClaim mobile app that makes claim-processing a lot easier. The average cost of homeowners insurance is $123 per month, but the final cost will depend on multiple other factors. 

Pros & Cons

The Pros

The Cons

Final Verdict

FAQs

Does homeowners insurance cover flooding in Maryland?

No. Damages due to water or flooding are not covered by homeowners insurance in Maryland. However, it can be added to a policy for an additional premium.

Does homeowners insurance cover lightning in Maryland?

Dwelling coverage is normally included in homeowners insurance, which also includes damage done by lightning.

Does homeowners insurance cover snow damage?

Yes. The average homeowners insurance policy does cover for damages caused by snow and ice.

What if I can't get homeowners insurance?

You can contact the state’s Department of Insurance if you’re having trouble obtaining homeowners insurance in Maryland.