Average renters insurance cost in Maryland

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Renters in Maryland pay an average of $251 per year, or $21 per month for renters insurance. This is based on a standard policy covering $40,000 in personal property, $300,000 in liability, and a $1,000 deductible – a reasonable baseline for most renters.

What you actually pay will depend on your coverage amount, which insurer you choose, and personal details like your ZIP code, claims history, and in some states, your credit score.

How much does renters insurance cost in Maryland?

At $21 per month, renters insurance in Maryland is based on a policy with $40,000 in personal property coverage and $300,000 in liability protection. Your premium will shift depending on your location, the coverage limits you set, and the total worth of your possessions. Shopping around and comparing quotes from different insurers is one of the most effective ways to keep costs manageable.

It’s worth remembering that a higher deductible might reduce your monthly premium, while broader coverage for valuables such as electronics or jewelry will increase it. Choose a deductible and coverage level that fits both your budget and replacement needs.

Renters insurance in Maryland: Where to start

On average, renters insurance in Maryland costs $251 per year, or $21 per month
Among all providers in Maryland, State Farm consistently comes in with the lowest average rates – around $148 per year
Because premiums can vary significantly from one insurer to the next, comparing multiple quotes before settling on a policy is always a good idea

Which companies offer the cheapest renters insurance in Maryland?

The most affordable renters insurance in Maryland comes from State Farm, which averages $148 per year. Travelers and Erie Insurance are also competitive options for budget-conscious renters.

Keep in mind that the cheapest policy isn’t always the right one – coverage limits, deductibles, and available discounts all matter. The table below compares average annual and monthly rates from leading insurers in Maryland.

Company	Average annual rate	Average monthly rate
State Farm	$148	$12
Travelers	$174	$15
Erie Insurance	$244	$20
American Family	$303	$25
Nationwide	$312	$26
Chubb	$333	$28
Allstate	$447	$37
USAA*	$150	$12

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

Want a more accurate renters insurance estimate?

Use our calculator to get a personalized renters insurance quote based on your location and coverage needs.

Your final premium may vary depending on the insurer, coverage limits, deductible, claims history, and other rating factors.

Renters insurance calculator in Maryland

$239/year

Estimated renters insurance rates in Maryland

$20

Monthly renters insurance cost in Maryland

-11%

Compared to national average

How much does renters insurance cost by coverage level in Maryland?

The average annual renters insurance premium in Maryland is $251, based on $40,000 in personal property coverage, $300,000 in liability, and a $1,000 deductible.

Dropping your personal property coverage from $40,000 to $20,000 could bring your annual cost down to around $188. Just make sure $20,000 would actually be enough to replace what you own before making that change.

The table below shows average annual premiums in Maryland at both the $20,000 and $40,000 personal property coverage levels.

Coverage level	Average annual renters insurance rate	Average monthly renters insurance rate
$20,000 with $500 Deductible and $100,000 Liability	$192	$16
$20,000 with $500 Deductible and $300,000 Liability	$202	$17
$20,000 with $1,000 Deductible and $100,000 Liability	$177	$15
$20,000 with $1,000 Deductible and $300,000 Liability	$188	$16
$40,000 with $500 Deductible and $100,000 Liability	$262	$22
$40,000 with $500 Deductible and $300,000 Liability	$275	$23
$40,000 with $1,000 Deductible and $100,000 Liability	$239	$20
$40,000 with $1,000 Deductible and $300,000 Liability	$251	$21
$60,000 with $500 Deductible and $100,000 Liability	$344	$29
$60,000 with $500 Deductible and $300,000 Liability	$359	$30
$60,000 with $1,000 Deductible and $100,000 Liability	$311	$26
$60,000 with $1,000 Deductible and $300,000 Liability	$327	$27

People also ask: How much renters insurance coverage do I need?

The right amount of coverage depends on the value of your belongings and how much financial risk you’re willing to take on. Most renters do well with $20,000 to $40,000 in personal property coverage and at least $300,000 in liability protection. If you own high-value items like jewelry or electronics, you may want to add endorsements on top of your base policy.

How much does renters insurance cost by city in Maryland?

Your city within Maryland can have a real impact on your renters insurance premium. Insurers factor in local variables like crime statistics, weather history, and how urban or suburban an area is when setting rates.

Here’s how average renters insurance costs break down across major cities in Maryland.

Renters insurance rates in Maryland by city

See rates in your city

Does your ZIP code affect renters insurance rates in Maryland?

Your ZIP code is one of the most significant factors in how insurers price your policy. Areas with higher rates of theft, more frequent weather events, or a greater number of past claims tend to see higher premiums – even for the same level of coverage.

In Maryland, annual rates range from roughly $223 in 20814 to $295 in 21862. Below are the cheapest and most expensive ZIP codes for renters insurance in Maryland.

Why your ZIP code affects renters insurance costs

Insurers use neighborhood-level risk data when calculating your premium, which means rates can differ significantly from one ZIP code to the next.

Key factors include:

Theft and vandalism rates in your area
Exposure to weather risks like hurricanes, wildfires, or flooding
Historical fire claims and local rebuilding costs

Even shifting a few ZIP codes can change what you pay each month.

What are the most affordable ZIP codes for renters insurance in Maryland

20814 has the lowest average annual renters insurance cost at $223.

Areas with fewer theft incidents and lower weather-related claim activity tend to have more affordable premiums overall.

ZIP code	City	Average annual rate	Average monthly rate
20814	Bethesda	$223	$19
20815	Chevy Chase	$224	$19
20852	North Bethesda	$225	$19
20818	Cabin John	$226	$19
20896	Garrett Park	$226	$19
20812	Glen Echo	$227	$19
20895	North Kensington	$227	$19
20837	Poolesville	$227	$19
20851	Rockville	$227	$19
20841	Boyds	$230	$19

What are the least affordable ZIP codes for renters insurance in Maryland

At the other end of the spectrum, 21862 has the highest average renters insurance cost in Maryland, at $295 per year or $25 per month.

Below are average annual rates across all ZIP codes in Maryland, based on quotes from major providers.

ZIP code	City	Average annual rate	Average monthly rate
21862	Showell	$295	$25
21233	Baltimore	$288	$24
21836	Manokin	$288	$24
21857	Rehobeth	$287	$24
21867	Upper Fairmount	$287	$24
21866	Tylerton	$286	$24
21653	Newcomb	$284	$24
21664	Secretary	$284	$24
21852	Powellville	$282	$23
21656	Price	$282	$24

How to lower your renters insurance, even in a high-cost ZIP code

Get quotes from at least 3 insurers – rates for identical coverage can differ by $100 or more within the same ZIP code
Bundle your renters and auto insurance to cut 5% to 15% off your premium
Ask about discounts for safety features like smoke detectors, deadbolts, security systems, or smart home devices
Raise your deductible from $500 to $1,000 – this alone can reduce your premium by around 10%
If you haven’t filed a claim in 3 or more years, ask about a claims-free discount

Is renters insurance worth it in Maryland?

For most renters in Maryland, a renters insurance policy protects your belongings from risks like fire, theft, vandalism, and certain weather events, and shields you from liability if someone is injured inside your home.

According to figures from the US Department of Commerce, the US Census Bureau, and the American Community Survey, approximately 48% of US renter households allocate more than 30% of their income toward rent and utilities. When housing already takes up a large share of your budget, it’s worth being thoughtful about every ongoing cost – including insurance.

Shopping around makes a real difference. Beyond price, look at what each policy actually covers, what the deductible is, and how the insurer performs when claims are filed. Slightly higher premiums can be worthwhile if the coverage is meaningfully better.

Frequently asked questions

What does renters insurance actually cover?

Renters insurance typically covers your personal belongings, liability protection and additional living expenses if your rental becomes uninhabitable. This includes damage or loss from events like fire, theft and vandalism, as well as legal or medical costs if someone is injured in your home. Coverage details vary by policy, so it’s important to review limits and exclusions.

Do I really need renters insurance in Maryland?

Renters insurance isn’t always required by law, but it’s often worth having because it protects your belongings and provides liability coverage. Even a basic policy can cover thousands of dollars in losses from theft, fire or damage, which can be costly to replace out of pocket. Many landlords also require renters insurance as part of the lease.

Sources:

Insurance Information Institute. Facts + statistics: Renters insurance. Accessed May 2026.

How much is renters insurance in other states

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Alisha Ambre

Alisha Ambre holds a Bachelor of Arts with honours in English Literature and Media Studies. She focuses on crafting clear, engaging content that makes complex information feel practical and approachable for everyday readers. When she’s not writing, she’s likely on the volleyball court or immersed in a good video game.