Average homeowners insurance cost in Gaithersburg, MD

Why you can trust Insure.com

Quality Verified

At Insure.com, we are committed to providing the timely, accurate and expert information consumers need to make smart insurance decisions. All our content is written and reviewed by industry professionals and insurance experts. Our team carefully vets our rate data to ensure we only provide reliable and up-to-date insurance pricing. We follow the highest editorial standards. Our content is based solely on objective research and data gathering. We maintain strict editorial independence to ensure unbiased coverage of the insurance industry.

The average cost of homeowners insurance in Gaithersburg is $1,394 per year (for the coverage level of $300,000 for dwelling, $100,000 for liability protection and $1000 deductible), based on Insure.com’s rate data analysis. It’s $1,110 less than the national average of $2,504.

However, homeowners insurance rates can vary drastically from one home to another. Home insurance rates in Gaithersburg depend on a number of factors, including:

Size of your home
Age of your home
Amount of coverage you need
Location
Your credit score

To make sure you are getting the best deal on home insurance, it is important to get quotes from multiple insurers to find the right coverage for your needs. Read this guide to know how much homeowners insurance cost per month in Gaithersburg, home insurance cost for different dwelling coverage, also know which companies offer cheap home insurance in Gaithersburg.

In this guide, we will explain everything from what coverage options are available to which companies have the cheapest rates for homeowners insurance in Gaithersburg.

Key takeaways

In Gaithersburg, homeowners insurance costs $1,394 annually.
Travelers offers the most affordable homeowners insurance in Gaithersburg with an average annual premium of $881.
If you increase your dwelling coverage from $200,000 to $300,000, your annual home insurance premium will be $309 higher.

Average homeowners insurance cost in Gaithersburg per month

According to Insure.com’s rate analysis, residents of Gaithersburg pay an average of $116 per month for homeowners insurance. This is $26 less than the state average of $142 and $93 less than the national average for home insurance across the United States. The cost of your homeowners insurance policy in Gaithersburg can vary depending on your location, property value, and selected coverage options.

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

Homeowners insurance for dwelling coverage of $200,000 and liability protection of $100,000 costs $1,085 per year in Gaithersburg, MD. Numerous factors influence your annual home insurance rates, including any natural disaster or event in your locality. For instance, certain regions have a higher risk of natural calamities such as floods, hurricanes, or tornadoes, implying higher expenses for rebuilding in these areas. These increased rebuilding expenses result in increased insurance premiums.

It is important to note that your insurance plan may not cover flood or hurricane damages. So, if you reside in an area prone to flooding, consider buying flood insurance coverage.

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

According to a rate analysis by Insure.com, homeowners in Gaithersburg pay an average of $1,394 per year for a $300,000 house. These rates are for the coverage limits of $100,000 for liability protection and $1000 deductible.

If you increase your dwelling coverage from $200,000 to $300,000, you will just have to pay $309 more a year for home insurance. It would be best to buy enough insurance to cover the full cost of rebuilding your home.

However, the amount of dwelling coverage you need may vary depending on the size of your home, the features in your home, and the cost of living in your area.

Average homeowners insurance cost in Gaithersburg by company

Among the carriers analyzed, Travelers is the most affordable homeowners insurance company in Gaithersburg. It’s average annual rate for homeowners in Gaithersburg is $881.

State Farm, ranks second and Farmers makes it to the third spot with an average annual home insurance rate of $1,129.

Research on the company is essential before selecting a homeowners insurance policy. Insure.com has thoroughly examined all insurance companies operating in Gaithersburg and compiled a list of the most affordable home insurance companies.

Below are details of Gaithersburg home insurance companies and their average annual premiums.

Home Insurance Company	Annual rate
Travelers	$881
State Farm	$1,066
Farmers	$1,129
Erie Insurance	$1,483
American Family	$1,507
Allstate	$1,601
Chubb Ltd	$1,651
Nationwide	$1,697
USAA*	$1,463

*USAA is only available to military community members and their families.

Methodology

Insure.com, with the help of Quadrant Information Services, gathered data for homeowners insurance rates in Gaithersburg 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.