Average homeowners insurance cost in Baltimore, MD

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In Baltimore, homeowners pay an average annual rate of $1,896 for a coverage level that includes $300,000 for dwelling, $100,000 for liability protection, and a $1,000 deductible, according to Insure.com’s rate analysis. This is $608 less than the national average of $2,504.

Homeowners insurance premiums can vary significantly from one property to another. In Baltimore, the cost of home insurance is influenced by several factors, including:

Size of your home
Age of your home
Amount of coverage required
Location
Your credit score

It’s crucial to compare quotes from multiple insurers to ensure you get the best homeowners insurance policy. This allows you to find the coverage that meets your specific needs.

Read this guide to discover the monthly homeowners insurance cost in Baltimore, explore the insurance costs for different dwelling coverage, and find out which companies offer affordable home insurance in Baltimore.

Key Takeaways

The cost of your homeowners insurance policy in Baltimore can vary based on factors such as your location, the value of your home, and the coverage options you select.
State Farm is the cheapest homeowners insurance company in Baltimore with an average annual premium of $1,152.
If you increase your dwelling coverage from $200,000 to $300,000, you will pay $446 more, annually for home insurance.

Average homeowners insurance cost in Baltimore per month

Baltimore homeowners pay an average of $158 a month, based on our rate analysis. It’s $16 more than the state average of $142 and $51 less than the national average for home insurance across the United States. The price of your homeowners insurance policy in Baltimore may vary depending on where you live, the value of your home, and the coverage you choose.

Average homeowners insurance cost for a $200,000 house in Baltimore

The average cost of homeowners insurance in Baltimore, MD is $1,450 annually for the dwelling coverage of $200,000 and the liability protection of $100,000. The amount you pay for home insurance each year depends on many different things. The types of natural disasters or events that take place in your area affect how much you pay for coverage in your city.

Some areas are more at risk for natural disasters, like flood, hurricanes, or tornadoes. This means that if something happens, the cost of rebuilding would be higher in those areas, thereby leading to higher insurance premiums. Your insurance policy might not cover damage caused by floods or hurricanes. So, if you live in a flood-prone area, consider buying flood insurance coverage.

Average homeowners insurance cost for a $300,000 house in Baltimore

Based on a rate analysis conducted by Insure.com, Baltimore residents pay an average of $1,896 per year to insure a home for coverage limits of $300,000 dwelling, $100,000 liability with a $1,000 deductible. If you plan to increase your dwelling coverage from $200,000 to $300,000, you must pay an additional $446 per year for home insurance.

Buying adequate insurance to cover the entire expense of rebuilding your home is best advisable. However, the amount of dwelling coverage you need may vary depending on your home’s size, amenities, and the cost of living in your area.

Average homeowners insurance cost in Baltimore by company

Among the carriers analyzed, State Farm is the cheapest homeowners insurance company in Baltimore. It’s average annual rate for Baltimore homeowners is $1,152, while Travelers ranks second.

Before choosing a homeowners insurance policy, it is important to do some research on the company. Our experts have analyzed all the insurance companies across Baltimore and prepared a list of the cheapest home insurance providers. You can find below the Baltimore home insurance companies and their average annual premium.

Home Insurance Company	Annual rate
State Farm	$1,152
Travelers	$1,439
Allstate	$1,621
Erie Insurance	$1,888
American Family	$2,273
Chubb Ltd	$2,307
Farmers	$2,248
Nationwide	$2,350
USAA*	$1,842

How home insurance protects you against natural disasters

Home insurance plays a crucial role in protecting your home and belongings in case of natural disasters. Events such as hurricanes, floods, earthquakes and wildfires can cause significant damage, and home insurance helps by covering the costs of repairs or replacement of your property. Depending on your policy, it may also provide coverage for temporary living expenses if your home becomes uninhabitable.

In addition to physical damage, home insurance typically covers liability costs if someone is injured on your property. This added protection gives homeowners peace of mind, knowing they have financial support during difficult times.

A standard home insurance policy may not cover all-natural disasters. Review your policy carefully to ensure you’re covered for the specific risks.

Methodology

Insure.com, with the help of Quadrant Information Services, gathered data for homeowners insurance rates in Baltimore for $300,000 dwelling coverage and $100,000 liability coverage with a $1,000 deductible. The data presented are those with a good credit tier alignment.

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Shivani Gite

Contributing Writer

Shivani Gite is a personal finance and insurance writer with a degree in journalism and mass communication. She is passionate about making insurance topics easy to understand for people and helping them make better financial decisions.