State Farm, Homesite and Chubb are Maryland's best cheap renters insurance companies. State Farm is the top option for affordable rates. Chubb has the best customer reputation, and Homesite offers the best coverage options.
Cheap Renters Insurance in Maryland
Updated: November 26, 2025
Advertising & Editorial Disclosure
Key Takeaways
State Farm is Maryland's best overall renters insurance company, offering the cheapest policy at $172 per year.
Renters insurance in Maryland costs around $25 per month but ranges from $14 to $53.
To get the best and most affordable renters insurance, decide your coverage needs beforehand, research costs and compare multiple quotes.
Best Cheap Renters Insurance Companies in Maryland
| State Farm | 95 | $14 | $172 |
| Chubb | 86 | $29 | $352 |
| Nationwide | 80 | $36 | $427 |
| Homesite | 80 | $23 | $272 |
| Travelers | 67 | $53 | $640 |
*This list shows rates for a renter with good credit, no claims history, $50K in property damage coverage, $100K in liability coverage, a $1,000 deductible and guaranteed replacement.
Maryland renters near the Chesapeake Bay face flooding and hurricane risks, so our renters insurance estimate calculator helps determine adequate coverage for coastal living challenges.
Maryland Renters Insurance Quote Estimates
MoneyGeek's renters insurance calculator will give you a customized estimate of your renters insurance costs.
It's free to use, requires no personal information and we won't send you any spam.
0
High
0
Average
0
Low
Rates updated:
Dec 10, 2025
Although MoneyGeek partners with some of the companies we recommend, our content is written and reviewed by an independent team of writers, editors and licensed agents. Learn more about our editorial policies and expert editorial team.
Compare Personalized Best Cheap Renters Insurance in Maryland
While the above list covers most renters, it may not reflect the best options for your needs. Below is a filterable table tailored to your profile to help you find the best choice in Maryland.
Data filtered by:
$50K Personal Property / $100K Liability
Select
Claim free for 5+ years
Yes
Good
| State Farm | 95 | $16 | $189 |
| Farmers | 84 | $18 | $221 |
| Nationwide | 78 | $25 | $302 |
| Chubb | 75 | $27 | $324 |
| Homesite | 75 | $22 | $261 |
Best Maryland Renters Insurance Reviews
Below, we provide more details about our top picks for affordability, customer service and coverage options for Maryland renters insurance.
State Farm: Most Affordable Plans
pros
Lowest rates
Large discount offering selection
High financial stability ratings
cons
Below-average claims satisfaction
COMPANY HIGHLIGHTS
Maryland's most affordable renters insurance comes from State Farm, starting at $14 monthly. J.D. Power ranks the insurer seventh in its property insurance customer satisfaction study. Coverage options include optional replacement cost protection and identity theft coverage.
Chubb: Best for Customer Service
pros
Customer satisfaction ratings rank very high
Add-on coverage selection stays strong
cons
Rates run higher than average for most profiles
COMPANY HIGHLIGHTS
Chubb charges premium rates in Maryland but delivers the best customer service. Recent J.D. Power studies rank the insurer first for both claims and customer satisfaction. Add-on coverage extends to earthquake, flood and computer damage protection.
Homesite: Best for Coverage Options
pros
Online customization runs smoothly
Financial stability stays solid
Coverage options remain strong
cons
Customer service scores trail competitors
Overall rates are high for most renters
COMPANY HIGHLIGHTS
Fifth place in Maryland's renters insurance market goes to Homesite, though rates rank among the highest in our study. Coverage stands out with unique options like increased business property limits and special computer protection. Earthquake and identity theft coverage also come available.
Average Cost of Renters Insurance in Maryland
Maryland renters pay an average of $297 annually, $55 above the national average of $242. These rates reflect policies with $50,000 in personal property coverage, $100,000 in liability coverage and a $1,000 deductible.
Your rate may vary depending on your profile. The table below provides average rates for your situation based on major factors affecting insurance costs.
Data filtered by:
$50K Personal Property / $100K Liability
Select
Claim free for 5+ years
Good
Covered
| $50K Personal Property / $100K Liability | $25 | $297 |
Maryland Renters Insurance: Buyer's Guide
Finding renters insurance in Maryland can seem difficult. Our guide can help you choose the right coverage for your needs.
How to Find the Best Cheap Renters Insurance in Maryland
Maryland renters can choose among dozens of insurance options. These six steps help you secure the right policy without overpaying:
- 1Determine the right coverage level
Calculate how much coverage you need by totaling your possessions' value. Factor in Maryland-specific risks like hurricane damage in coastal areas and property crime rates.
- 2Research costs and discounts
Average costs vary by coverage level and location within Maryland. Hunt for discounts you qualify for, including good credit, claims-free history or bundling with other policies.
- 3Compare providers
Provider reputations, costs and coverage options narrow your search to insurers matching your needs. A focused list speeds up quote comparisons.
- 4Consider bundling
Combining renters and auto insurance with one carrier cuts costs. Auto policy savings often offset or eliminate renters insurance premiums entirely.
- 5Get multiple quotes through different channels
Gather at least five quotes with identical coverage levels for accurate comparisons. Try comparison sites, provider websites, independent brokers and captive agents to capture competitive pricing.
- 6Compare rates annually
Premiums change frequently in Maryland's insurance market. Annual rate shopping prevents overpaying as your circumstances and carrier pricing evolve.
How Much Renters Insurance Do I Need in Maryland?
Maryland law doesn't mandate renters insurance, but landlords typically require at least $100,000 in liability coverage. Your rental history, credit score and pet ownership determine specific requirements. Policy selection should account for property coverage needs, local weather threats, area crime rates and pets.
Use our calculator to determine your ideal personal property coverage limits and how much renters insurance you need.
Personal Property Coverage Calculator
When figuring out how much renters insurance you need, experts recommend the standard $100,000 in liability insurance and enough personal property protection to cover your possessions. Use MoneyGeek's calculator to estimate the value of your possessions so you know how much personal property coverage to buy.
clothing & accessories
Clothes, shoes, bags, belts, hats, gloves, etc.
Maryland Renter Risk Considerations
Maryland renters encounter specific risks requiring additional coverage considerations:
- Weather risks: Hurricane and winter storm damage threatens certain Maryland locations. Standard policies exclude these perils in high-risk areas, forcing separate coverage purchases.
- Crime risks: Property crime ranks Maryland 34th nationwide, while identity theft and fraud place it 10th. Supplemental coverage or policy add-ons boost property damage protection.
- Pet ownership: Pet owners should verify whether pet liability coverage comes standard or costs extra. Automatic inclusion varies by insurer.
- Property types: Expensive items like jewelry, electronics and specialized tools hit coverage limits in standard renters policies. Add-on coverage fully protects these belongings and features like pools.
How Does Renters Insurance Coverage Work?
Renters insurance typically covers damage to your property, liability to others and loss of use of your rental home. Adding optional coverages can make your policy more comprehensive. Here are the main types of renters insurance coverage:
Coverage Type | Standard or Add-on | Coverage Details |
|---|---|---|
Standard | Damaged or stolen items get reimbursed up to policy limits. Basic coverage pays depreciated value, replacement cost coverage buys new equivalent items. | |
Standard | Medical bills and legal costs get covered when someone gets injured in your rental. Landlords frequently mandate this protection. | |
Additional living expenses | Standard | Temporary housing, meals and transportation costs get reimbursed when your rental becomes unlivable. Limits change by insurer. |
Natural disasters | Add-on | Earthquake or flood damage gets covered through separate policies from select insurers. |
Parts/Equipment | Add-on | Tools, appliances and utilities in your rental get protected. |
Scheduled property | Add-on | Valuable items get insured up to specific limits. |
Identity theft | Add-on | Financial losses and legal expenses from identity theft get covered. Monitoring services come with some policies. |
Pet liability | Add-on | Injuries caused by your pet get covered, though some standard policies already include this. |
Modifications | Add-on | Custom additions you've made to your rental get protected. |
Food loss | Add-on | Food lost during covered incidents gets reimbursed. |
Best Renters Insurance in Maryland: Bottom Line
Maryland's best and cheapest overall renters insurance companies are State Farm, Homesite and Chubb. We recommend these options, but research and compare multiple companies and quotes to get the best deal.
Renters Insurance in Maryland: FAQ
Below are our experts' answers to frequently asked questions:
What is the cheapest renters insurance company in Maryland?
State Farm offers the cheapest renters insurance in Maryland, with an average annual premium of $172 or $14 per month.
What is the best renters insurance company in Maryland?
State Farm is the best renters insurance company in Maryland, with a MoneyGeek score of 95 out of 100 due to its great balance of affordability, customer service and coverage options.
How much does renters insurance cost in Maryland?
The average cost of renters insurance in Maryland is $297 per year or $25 per month, 23% higher than the national average. Annual premiums range from $172 to $640.
Is renters insurance required in Maryland?
Maryland doesn't legally require renters insurance, but your landlord may. Consider your situation to decide if a policy makes sense for you. Key reasons to get coverage include protecting your belongings from common hazards and covering liability costs if someone gets hurt in your rental.
How We Found the Best Cheap Renters Insurance Companies
To find the cheapest renters insurance in Maryland, we used this base profile:
- $50K personal property coverage
- $100K liability coverage
- $1,000 deductible
- Property replacement coverage
- Good credit score
Affordability scores (60% of total) came from this profile. Remaining factors included:
- Customer satisfaction from industry research (25%)
- Add-on coverages (10%)
- Financial strength ratings (5%)
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
He writes about economics and insurance, breaking down complex topics so people know what they're buying.
sources
- American Red Cross. "Which Natural Disasters Should You Prepare For?." Accessed April 25, 2025.
- Insurance Information Institute. "Facts + Statistics: Identity Theft and Cybercrime." Accessed April 25, 2025.
- U.S. News. "Low Property Crime Rate." Accessed April 25, 2025.