Best and Cheapest Homeowners Insurance in Maryland for 2025 (10 Most Affordable Companies)

The best and cheapest homeowners insurance in Maryland comes from USAA, Travelers, and Nationwide. USAA offers low rates from just $43 per month for a $200k policy with a 35 % military discount.

Travelers follow at $55 monthly, with up to 25% savings when you bundle policies. A Nationwide policy starts at $56 monthly and includes living expenses coverage 25% higher than the MD state requires.

Insurance Company	Rank	Monthly Rates	A.M. Best	Best For	Jump to Pros/Cons
	#1	$43	A++	Military Discounts	USAA
	#2	$55	A++	Bundling Savings	Travelers
	#3	$56	A+	Homeowner Benefits	Nationwide
	#4	$57	B	Loyalty Rewards	State Farm
	#5	$62	A	Regional Affordability	American Family
	#6	$64	A+	Multi-Policy Discounts	Progressive
	#7	$72	A++	Affordable Coverage	Geico
	#8	$74	A	Customizable Policies	Farmers
	#9	$96	A	Flexible Coverage	Liberty Mutual
	#10	$107	A+	Deductible Savings	Allstate

To get cheaper home insurance in Maryland, you need to evaluate numerous factors. Location and property value matters a lot, and crime statistics in your area directly affects homeowners insurance rates increase. Enter your ZIP code to find robust coverage for your dwelling at an affordable price.

What You Should Know

• USAA leads Maryland's homeowner's insurance with rates as low as $43 per month
• Travelers stands out for bundle savings of up to 25%
• Nationwide has 25% more living expenses coverage than state minimum

#1 – USAA: Top Overall Pick

Pros

• Military Benefits: Dedicated coverage for service members looking for the best homeowners insurance in Maryland.
• Deployment Support: USAA offers service adjustments and coverage for active duty members in Maryland as well as a rate lock guarantee.
• Competitive Rates: USAA's cheapest homeowners insurance in Maryland starts at $43 per month for $200k policies. Get all the details on our "USAA insurance review" page.

Cons

• Limited Eligibility: Membership is limited to military members and families so only Maryland’s best rates are available.
• Service Requirements: This requires military service verification to keep up with Maryland's cheapest homeowners insurance rates.

#2 – Travelers: Best for Bundling Savings

Pros

• Bundle Discounts: As stated in our page titled "Travelers Review", they offer industry-leading multi-policy discounts up to 25% off the average cost of homeowners' insurance in Maryland.
• Package Benefits: Comprehensive bundle packages are offered to Maryland residents along with some additional coverage options without extra charges.
• Loyalty Rewards: Features increasing bundle discounts for long-term customers seeking the best homeowners insurance in Maryland.

Cons

• Initial Rates: Base rates before bundling are higher than those of other providers of cheap homeowners insurance in Maryland.
• Bundle Requirements: Must maintain multiple policies to keep Maryland's best homeowners insurance rates.

#3 – Nationwide: Best for Homeowner Benefits

Pros

• Benefits Package: Provides exclusive Maryland homeowner benefits like home maintenance service and emergency repair networks.
• Value Plus Program: Provides additional living expenses coverage 25% above Maryland state requirements.
• Member Rewards: Features a unique points system for the best homeowners insurance in Maryland that rewards claim-free years.

Cons

• Benefit Eligibility: Some homeowners insurance discounts in Maryland have minimum policy duration eligibility (Read More: Nationwide Review).
• Program Restrictions: The best homeowners insurance rates in Maryland require enrollment in multiple benefit programs.

#4 – State Farm: Best for Loyalty Rewards

Pros

• Long-Term Savings: It provides discounts for every year of coverage, so policyholders can get affordable homeowners insurance in Maryland.
• Claims Forgiveness: State Farm insurance review highlights accidents in Maryland are forgiven after 5 years of loyalty as long as there are no claims filed.
• Anniversary Benefits: Get special rate reductions at policy milestones for the best homeowners insurance in Maryland.

Cons

• Initial Rates: New customer rates are higher than other providers of cheap homeowners insurance in Maryland.
• Time Requirements: Must maintain coverage for minimum periods to access Maryland's best homeowners insurance rates.

#5 – American Family: Best for Regional Affordability

Pros

• Local Pricing: It bases Maryland homeonwers insurance quotes by neighborhoods and the value of homes (Read More: American Family Review.
• Area Discounts: It offers reduced rates according to Maryland's crime levels and response time of emergency.
• Regional Benefits: It has special coverage options for Maryland's specific weather patterns and risks.

Cons

• Location Limitations The average cost of homeowner's insurance in Maryland varies differently by specific region.
• Availability: In many cases, it's homeowners insurance may not be available in all Maryland counties.

#6 – Progressive: Best for Multi-Policy Discounts

Pros

• Policy Combinations: It offers savings when multiple insurance types are combined in one policy.
• Package Options: Our Progressive review page highlights their flexible policy combinations with unique discount structures for Maryland homeowners.
• Discount Stacking: Features the ability to combine multiple discounts for Maryland's best homeowners insurance rates.

Cons

• Base Rates: Individual policy rates are higher than other providers of cheap homeowners insurance in Maryland.
• Policy Requirements: Must maintain multiple active policies to access Maryland's best homeowners insurance.

#7 – Geico: Best for Affordable Coverage

Pros

• Competitive Pricing: Offers straightforward, affordable rates for basic coverage needs in Maryland.
• Easy Qualification: Provides accessible discounts without complex eligibility requirements.
• Simple Plans: Features transparent pricing structure for the best and cheap homeowners insurance in Maryland.

Cons

• Basic Coverage: May lack some premium features in more expensive Maryland insurance providers.
• Limited Options: Fewer customization choices than other providers of cheap homeowners insurance in Maryland.

#8 – Farmers: Best for Customizable Policies

Pros

• Flexible Options: As stated in our Farmers insurance review page, they have an extensive policy customization choices for Maryland homeowners' unique needs.
• Coverage Selection: Choose from Farmer's multiple coverage options including water backup, equipment breakdown, and scheduled personal property riders.
• Adaptable Plans: Features adjustable coverage levels for the best homeowners insurance in Maryland.

Cons

• Complexity: More options can lead to higher homeowners insurance Maryland average cost.
• Price Variables: Customization may increase rates above homeowners insurance in Maryland baseline.

#9 – Liberty Mutual: Best for Flexible Coverage

Pros

• Adjustable Plans: The company offer easily modifiable coverage options as needs change. Visit our page titled "Liberty Mutual's Insurance Review" for more details.
• Payment Flexibility: Liberty Mutual offers monthly, quarterly, semi-annual, or annual payments with discount for paying in full.
• Coverage Adaptation: Features the ability to adjust protection levels without changing providers.

Cons

• Rate Variability: Flexible plans may result in higher than average Maryland insurance costs.
• Policy Modification Costs: Administrative changes incur $25-50 fees, while coverage modifications may increase premiums by 10-15%.

#10 – Allstate: Best for Deductible Savings

Pros

• Declining Deductibles: As mentioned in our Allstate review page, the company offers reduced deductibles for each claim-free year in Maryland.
• Deductible Rewards: It provides $100 annual deductible reduction for maintaining coverage.
• Claims-Free Rewards: Allstate gives customers a premium discount after 3 years of claim free and offers extra benefits with deductibles that decrease over time.

Cons

• Higher Premiums: Base rates are higher than other providers of cheap homeowners insurance in Maryland.
• Savings Timeline: Maximizing Maryland's homeowners insurance benefits takes several years.

Homeowners Insurance in Maryland: Average Cost

Insurance costs in Maryland depend heavily on property values, location-specific risks, and coverage needs. For a $200,000 home, monthly premiums start at $43 with Allstate and reach up to $107 with USAA.

Insurance Company	$200k Policy	$300k Policy	$500k Policy
	$43	$60	$90
	$55	$75	$105
	$56	$78	$110
	$57	$80	$112
	$62	$85	$118
	$64	$88	$122
	$72	$96	$130
	$74	$100	$135
	$96	$130	$170
	$107	$140	$180

When coverage increases to $300,000, premiums range from $60 to $140 monthly. For higher-value homes at $500,000, monthly costs span from $90 to $180, reflecting the increased coverage requirements.

Maryland, especially urban areas like Baltimore, impact premiums. The state’s property crime rate in 2024 is 17.4 per 1,000 people which is lower than the national average of 20.7. Homeowners in high crime areas like Baltimore can reduce rates by investing in security systems like alarm systems or smart cameras.

Maryland has a history of natural disasters, floods, hurricanes and storms. Since 1953 Maryland has had 9 major floods, 8 hurricanes and several snow emergencies all of which increase the chance of property damage and therefore impact insurance rates.

Read More: Top 5 Lessons Learned After A Natural Disaster

Maryland Homeowners Standard Coverage Options

Maryland home insurance covers several areas. The following information explains the main coverage options you'll find in Maryland as well as their effects on your protection.

• Dwelling coverage covers the main house, and personal property coverage covers belongings.
• Loss of use coverage pays for temporary housing during repairs.
• Detached structures like garages are covered under other structures.
• Liability coverage covers accidents on the property.
• Medical payments coverage covers guest injuries.

Most policies have a $1,000 deductible. A decision about homowners insurance coverage depends on your location plus the value of your home along with your needs.

Homeowners can add specialized coverage for extra protection. The table below compares optional coverage among major insurance providers:

Coverage Type	Water Backup	Earthquake	Identity Theft	Equipment Breakdown	Service Line
	✅	✅	✅	✅	✅
	✅	✅	✅	✅	✅
	✅	✅	✅	✅	✅
	✅	❌	✅	✅	❌
	✅	✅	✅	✅	✅
	✅	✅	✅	✅	✅
	✅	✅	✅	✅	❌
	✅	✅	✅	✅	❌
	✅	✅	✅	✅	✅
	✅	✅	✅	✅	❌

Coverage amounts are based on the value of property: 50-70% of dwelling for personal property, 20% for other structures and loss of use, $300,000 for liability, and $5,000 for medical payments. Maryland residents who grasp the specifics of available coverage options secure total protection at reasonable prices.

Top Maryland Homeowners Insurance Discounts

Maryland insurance companies offer many discounts. Multi-policy provides the most significant discount, with companies like Allstate, State Farm, Liberty Mutual, and Nationwide offering up to 25% off when you bundle home and auto.

Top insurance companies offer competitive discounts for Maryland homeowners. Allstate offers early signing bonuses and responsible payer discounts, and State Farm offers safe driver discounts. Progressive's Snapshot and Nationwide's SmartRide offer usage-based discounts for each driver.

Insurance Company	Auto Pay	Bundling	Claims-Free	Home Security	New Home	Loyalty
	5%	25%	10%	10%	10%	5%
	5%	15%	15%	10%	10%	5%
	5%	20%	15%	10%	10%	5%
	5%	20%	10%	15%	10%	5%
	5%	20%	15%	10%	10%	5%
	5%	20%	10%	10%	10%	5%
	5%	15%	10%	10%	10%	5%
	5%	17%	20%	10%	10%	5%
	5%	20%	10%	10%	10%	5%
	5%	20%	10%	10%	10%	5%

With big companies like Allstate and State Farm, claims-free discounts can reach 20%, and loyalty programs add another 9% in savings. Automatic payment setups are 5%, but they combine with other discounts to save overall.

What’s better than a really great ‘stache? A really great bundle. pic.twitter.com/yV5ksNjr7l

— USAA (@USAA) October 14, 2024

Beyond traditional discounts, Maryland homeowners can save by increasing insurance deductible, upgrading to impact-resistant roofing, or installing smart home monitoring systems that detect water leaks and fires before major damage happens.

Protect Your Maryland Home With the Right Coverage

USAA offers the best and cheapest homeowners insurance in Maryland, with rates from $43 monthly for a $200k policy and a 35% military discount. Travelers offers 25% bundle savings at $55 monthly, and Nationwide offers $56 monthly rates and living expenses coverage exceeding state requirements by 25%.

Maryland homeowners can find affordable coverage by comparing quotes from multiple insurers online, as rates vary significantly based on factors like property value, location-specific risks, and available discounts, with potential savings of up to 25% through multi-policy bundles.

Read More: A Practical Guide for Understanding Homeowners Insurance

Finding affordable premiums for home insurance is easy with our free quote comparison tool. Just enter your ZIP code to find cheap coverage for your home.