Cheapest Homeowners Insurance in Maryland (2025 Rates)

In Maryland, Farmers offers the cheapest overall insurance. Still, State Farm is the most affordable for insuring high-value homes or those looking for the cheapest bundled insurance. Review MoneyGeek's extensive analysis of quotes from various providers to see which is best for your home.

For homeowners in Maryland, Farmers is the most affordable home insurance provider, charging an average of $511 annually for $100K in dwelling coverage. However, rates can change by dwelling coverage, which is the primary driver of insurance premiums.

Farmers is also the cheapest insurer in Maryland across different dwelling coverage levels. Review how rates can change with Farmers below:

• Cheapest for $100,000: Farmers at $511 per year
• Cheapest for $250,000: Farmers at $1,072 per year
• Cheapest for $500,000: Farmers at $2,193 per year

Dive into cheap home insurance in MoneyGeek's table to see how costs fluctuate by dwelling coverage.

In Maryland, the best approach for economical home insurance is to compare rates from various companies. MoneyGeek's home insurance calculator provides Maryland quotes quickly, without requiring personal details upfront.

State Farm is the most affordable provider for Maryland homeowners who live in high-value homes that require higher dwelling coverage limits, with $750K in dwelling coverage costing an average of $3,110 annually. Typically, higher dwelling coverage limits result in higher premiums.

Here’s a snapshot of the cheapest options in Maryland for higher limits:

• Cheapest for $750,000: State Farm at $3,110 per year
• Cheapest for $1,000,000: State Farm at $3,937 per year

If you have a high-value home, purchase dwelling coverage according to your home's replacement cost rather than its property value. Check MoneyGeek's table for more on how costs differ by dwelling coverage.

Farmers is the cheapest home insurance provider in Maryland for new properties with $100K in dwelling coverage, charging $279 annually. Since new homes are built with new materials and have modern safety measures, insurance costs are typically lower.

Farmers offer the most affordable rates for different coverage amounts in Maryland:

• For $100,000: $279 per year
• For $250,000: $562 per year
• For $500,000: $1,149 per year

To better understand how costs might change with different levels of dwelling coverage for a newly constructed home, refer to the table below.

State Farm charges $741 annually for homeowners with one claim in the past five years, Maryland's lowest rate for $100K dwelling coverage. Past claims increase premiums because insurers view you as a higher risk.

State Farm offers the cheapest rates if you have at least one claim in the past five years by dwelling coverage:

• For $100,000: $741 per year
• For $250,000: $1,379 per year
• For $500,000: $2,255 per year

Claims impact Maryland premiums. Two claims in five years cost an average of $990 more annually than a clean claims history.

Construction type and roofing materials affect Maryland insurance costs. Farmers charges $511 annually for frame construction homes with shake-treated roofs, though these materials increase premiums due to higher risk.

Farmers offers the most affordable home insurance in Maryland for various coverage values:

• For $100,000: $511 per year
• For $250,000: $1,072 per year
• For $500,000: $2,193 per year

Superior construction with tile roofing costs $222 less annually than frame construction with shake-treated roofs. Maryland homeowners save money by choosing superior construction and tile roofing.

A high deductible can reduce your monthly premiums and save you hundreds yearly. For example, in Maryland, the cheapest home insurance for a $2,000 deductible is with Farmers, costing $429 annually. Farmers is also the cheapest provider for a $500 deductible, costing $583 annually.

See how rates can change by deductible for $100K in dwelling coverage with the cheapest provider in Maryland, Farmers:

• $2,000 deductible: Farmers at $429 per year
• $1,500 deductible: Farmers at $511 per year
• $1,000 deductible: Farmers at $511 per year
• $500 deductible: Farmers at $583 per year

In home insurance, a deductible is what you pay out-of-pocket before coverage applies. Interestingly, a $2,000 deductible averages $200 less than a $500 deductible across all insurers.

Bundling home and auto insurance can lead to significant savings. State Farm offers the cheapest bundle in Maryland at $2,839 per year. Some home insurance providers offer discounts if you insure your home and vehicle with them. Below are the cheapest bundles in Maryland:

• State Farm at $2,839 per year
• Nationwide at $3,275 per year

Bundling lets you manage both policies through one provider. Learn how this works when you explore the best Maryland insurance bundle.

Farmers offers the most affordable home insurance across numerous Maryland cities, with rates ranging from $436 to $629. Costs can vary from city to city due to various aspects, such as building codes, crime rates and weather vulnerabilities. For instance:

• Columbia has the cheapest rate, with the most affordable insurer being Farmers at $436 per year.
• Homeowners in Baltimore pay the most for insurance in Maryland, with the cheapest insurer being farmers at $629 per year.

Therefore, shopping around is crucial, as insurers' rate calculations can differ significantly across geographic areas, thus presenting possible savings opportunities.