The 5 Best Maryland Homeowners Insurance Companies

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Despite its coastal mid-Atlantic location, the average annual homeowners insurance premium in Maryland is only $866, which is 30 percent less than the national average of $1,288, according to Insurance.com. That’s not to say natural disasters don’t occur in Maryland — Hurricane Irene in 2011 and Superstorm Sandy in 2012 hit the state hard, causing significant damage to homes.

To make sure you’re protected in the event of such an emergency, you’ll need to find a homeowners insurance policy that gives you the right level of coverage without overcharging you. We’ve outlined our top picks among Maryland homeowners insurance providers to give you a starting point in your search. Meanwhile, you can use the online quote tool below to start your research. Simply comparing your options is one of the easiest ways to save money each month and get the peace of mind you deserve.

Find the Best Home Insurance

Enter your ZIP code below and be sure to click at least 2-3 companies to find the very best rate.

Our Top Picks for Best Homeowners Insurance in Maryland

Erie Insurance

Erie Insurance is a great choice for Maryland homeowners. Not only does it have some of the lowest rates, it consistently gets high marks for customer service and financial strength, and Ward Benchmark, which analyzes companies, listed it as one of the 50 top-performing property-casualty insurers for 2018. Erie’s HomeProtector coverage consists of three option tiers:

  • Broadcover covers named damage like fire and theft made to personal property and buildings;
  • Extracover provides comprehensive coverage on buildings;
  • Ultracover provides comprehensive coverage on both your personal property and buildings.

Erie also offers customers the ErieSecure Home policy option, which includes benefits such as guaranteed replacement cost, superior claims services and bundled endorsements for popular add-on coverage options. Add-ons to this policy come in varying tiers as well, and you can choose to add extra layers of protection for things like identity recovery and fraud reimbursement or debris removal.

Going with ErieSecure Home also gets you discounts for bundling your policies, installing a burglar alarm or sprinklers, and getting a quote at least a week before your policy goes into effect. To determine which of the many policy options would best meet your needs, get in touch with a local Maryland Erie agent.

State Farm

State Farm is a top provider of homeowners insurance in Maryland because of its broad coverage options, exclusive resources and tools for customers, and reputable claims services department. State Farm has an A++ rating from A.M. Best, indicating its top-notch financial condition.

Besides standard coverage, State Farm also offers insurance protection for farms and ranches, manufactured homes, small business properties and some older homes. Regardless of which dwelling you insure through State Farm, you have customer access to tools and special programs, such as State Farm’s Premier Service Program, which sends in local contractors to assist with repairs and recovering your damaged home after a covered loss.

The company’s HomeIndex Home Inventory Tool allows you to easily keep track of your belongings and understand the full value of your personal property, so you’re better prepared to file an accurate claim in the event of an emergency. State Farm has one of the largest claims networks in the world and is easily accessible, day or night, via phone or online.

Amica Mutual

Amica Mutual has been around for over 100 years and has won “Highest in Customer Satisfaction Among National Homeowner Insurers” from J.D. Power for 17 years in a row. Amica also currently has an A+ rating from A.M. Best for financial strength and issuer credit. and an A+ rating from the Better Business Bureau.

Amica provides you with dependable, personalized service and flexible coverage options at low prices, ensuring that any unforeseen damage to your home won’t leave you high and dry. Amica’s standard policy provides liability protection and covers your dwelling and any additional structures on your property, the cost of temporary repairs to prevent future damage after a loss, credit card loss, and any increases in living expenses you may experience if your home is unlivable after a loss. Amica’s homeowners insurance protects you whether or not you’re at home, so you can feel secure knowing that you and your property are still covered if you’re traveling.

Additional coverage options include personal property replacement coverage, earthquake and flood coverage, and automatic dwelling coverage that kicks in if the cost of rebuilding or repairing your home exceeds the coverage limit on your policy. Visit Amica’s website or contact a representative to learn about other add-on options or to determine whether any of these is right for you and your budget.

Allstate

You know you’re in good hands with Allstate because it offers valuable educational tools and resources to help you get answers to any questions you may have regarding your insurance policy. Allstate’s Premium Gauge tool lets you see how different factors, such as the age of your home or installation of a security device, can affect the cost of your annual Maryland homeowners insurance premium.

Allstate’s Digital Locker, meanwhile, keeps a secure and up-to-date inventory of your personal belongings. Simply upload pictures of your items using a smartphone or computer and your data will be synced and stored so you are prepared if a catastrophe occurs.

Allstate also looks out for your budget by offering generous discount options, including discounts for signing up for an easy-pay plan or for being a new customer. Allstate has been named One of the World’s Most Ethical Companies® by the Ethisphere Institute.

Farmers Insurance

If you end up having to file a claim, you can put your trust in Farmers Insurance, which has one of the best and most efficient claims tools for homeowners and an A+ rating from the Better Business Bureau. Farmers gives you the option of filing your claim online, through its iClaim app, in person with a local agent, or via phone with one of its HelpPoint Claim Services representatives. Once your claim has been received, you’ll be assigned a claim representative who assesses and evaluates your case, and you can stay up to date on the status of that claim using Farmers’ Claims Tracker tool.

Farmers also has a very informative and helpful mobile app and website, with info-rich FAQs and in-depth explanations of your policy to ensure that you know exactly what you’re covered for and how to respond in an emergency. In terms of discounts, Farmers’ offers only standard options in Maryland, such as multi-policy bundling and installation of security device and storm shutters, so if you think you qualify for other discounts, it may be worth it to use the quote tool above to shop around more before deciding.

How much is homeowners insurance in Maryland?

The average annual insurance premium for Maryland homeowners insurance is $866, which is well below the national average of $1,288. The exact amount you’ll pay depends on where you live and other factors.

Maryland Rate Factors

Insurers consider Maryland a low-risk state because it’s not prone to natural disasters. However, when you apply for a home insurance policy, the insurer will assess your risk factors when assigning your rate. Some factors that can raise your premium include having filed claims in the past, living in an older frame house and living far away from a fire station or hydrant.

The Best 5 Maryland Homeowners Insurance Companies

Find the Best Home Insurance

Enter your ZIP code below and be sure to click at least 2-3 companies to find the very best rate.

For more information on Maryland homeowners insurance, you can check out the Maryland Insurance Administration’s Homeowners Insurance Consumer Guide as well as our Complete Guide to Home Insurance. To see our top overall picks for the Best Home Insurance nationally, click here.