Looking for cheap renters insurance in Maryland? Consider getting quotes from Standard Fire, Travelers and USAA. In our analysis these companies offer the cheapest rates of all the carriers surveyed. But it’s smart to get multiple quotes for Maryland renters insurance because the prices vary a lot among carriers. Below is the list of cheapest renters insurance companies in Maryland:
- Standard Fire
- Travelers
- Nationwide
- USAA
- State Farm
Cheapest renters insurance companies in Maryland
According to Insure.com’s analysis, Standard Fire offers the cheapest renters insurance in Maryland at about $177 a year or $15 per month. Travelers is in second place with an average annual rate of $177. However, the cost of your premium may vary depending on factors specific to you.
| Company | Average annual rate | Average monthly rate |
|---|---|---|
| Standard Fire | $177 | $15 |
| Travelers | $177 | $15 |
| Nationwide | $182 | $15 |
| USAA | $207 | $17 |
| State Farm | $241 | $20 |
| Homesite Of The Midwest | $269 | $22 |
| Erie | $270 | $23 |
| Farmers New Century | $283 | $24 |
| Allstate | $374 | $31 |
Average cost of renters insurance in Maryland by coverage level
The average cost of renters insurance in Maryland is $194 per year or $16 per month. These rates are for coverage level of $20,000 for personal property, $300,000 for liability protection and $1000 as deductible.
Whereas, renters insurance costs $269 annually for coverage limit of $40,000 as personal property, $300,000 for liability and $1000 deductible.
| Coverage level | Avg. annual renters insurance rate | Avg. monthly renters insurance rate |
|---|---|---|
| $20,000 | $194 | $16 |
| $40,000 | $269 | $22 |
| $60,000 | $351 | $29 |
Most affordable ZIP codes for renters insurance in Maryland
20841 is the most affordable zip code for renters insurance in Maryland. Our insurance experts have analyzed price quotes from all the major carriers in Maryland and put together a list of the most affordable zip codes with cheapest renters insurance.
| ZIP code | Average annual rate | Average monthly rate |
|---|---|---|
| 20841 | $229 | $19 |
| 20868 | $230 | $19 |
| 20812 | $231 | $19 |
| 20723 | $232 | $19 |
| 20817 | $233 | $19 |
| 20874 | $234 | $20 |
| 20759 | $235 | $20 |
| 21711 | $236 | $20 |
| 21750 | $237 | $20 |
| 21713 | $238 | $20 |
Least affordable ZIP codes for renters insurance in Maryland
Of all the zip codes analyzed by Insure.com, 21829 is the least affordable zip code for renters insurance in Maryland. Its average annual rate for Maryland renters is $325 a year or $27 per month. The insurance rates in a city can vary depending on many factors, such as crime rate and weather. A population with a low crime rate will have much lower premiums in comparison to other areas.
| ZIP code | Average annual rate | Average monthly rate |
|---|---|---|
| 21829 | $325 | $27 |
| 21822 | $324 | $27 |
| 21863 | $323 | $27 |
| 21813 | $322 | $27 |
| 21841 | $321 | $27 |
| 21811 | $320 | $27 |
| 21862 | $319 | $27 |
| 21208 | $289 | $24 |
| 21207 | $286 | $24 |
| 21652 | $284 | $24 |
Renters and auto bundle discounts in Maryland
Bundling with your auto insurance is a great way to save money on renters coverage. If you purchase your auto and renters insurance policies from the same company you can save an average of $110 per year in Maryland.
Below is a list of companies that offer cheap rates upon bundling and you can also find how much you will have to pay if you don’t bundle your policies.
| Company | Average annual rate | Average base annual rate (without bundling) | $ bundle average savings | % bundle average savings |
|---|---|---|---|---|
| Progressive | $1,364 | $1,429 | $65 | 5% |
| Government Employees | $1,427 | $1,471 | $44 | 3% |
| Nationwide | $1,514 | $1,799 | $285 | 16% |
| Travelers | $1,542 | $1,623 | $81 | 5% |
| State Farm | $1,642 | $1,725 | $83 | 5% |
| Allstate Ind Co | $2,846 | $2,970 | $124 | 4% |
| Geico | $2,984 | $3,073 | $89 | 3% |
