20903 Home Insurance Quotes, Rates & Coverage

Are you looking for the right homeowners insurance policy at an affordable price for your home in 20903? There are over 6,783 occupied homes in the 20903 area. With a population size of 24,103, it's not uncommon for residence of Silver Spring, MD to want to find cheaper home insurance rates online. The average premium for a standard HO-3 home insurance policy for homeowners living in Maryland is around $803 per year. At GetHomeInsuranceQuotes.com, we help you easily compare up to 12 home insurance rates from the top rated insurance companies. We also help you save money by applying all the home insurance credits and discounts available helping you save up to 40% or more on your next homeowners policy. Enter your 20903 zip code today to compare multiple rates and coverage options for your existing policy or a new home purchase.

For additional information about average home insurance rates, premiums or home insurance types, please review your city information: Silver Spring, MD Home Insurance Rate Quotes

Average Building Cost Per Square Foot in 20903: $190

Average Square Footage in 20903: 2,143 Sq. Ft.

When building or updating a home, it's always good to review the average cost per square foot to build in 20903 before you start any project. Silver Spring homeowners pay on average around $190 per square foot to build a home. Another great reason to know the average cost to build is for your homeowners insurance policy. A standard homeowners policy will help you cover the replacement cost of your home due a fire or any other named perils on your policy. Calculating your dwelling coverage for your home in 20903 is extremely helpful when estimating how much replacement cost coverage you need. We highly recommend that you have enough dwelling coverage to rebuild your home if it was destroyed by a covered peril.

Here is how you determine your replacement cost. If we take an average home in 20903 and want to estimated the dwelling coverage, than we will need the square footage of the home which is 2,143 sq. ft. and the average cost to rebuild the home in this area is around $190 per square foot would be considered a base estimate cost. These two numbers would allow us to generate the replacement cost needed for an average size home in the Silver Spring area. If the home is new or has been upgraded, you will want to add $50 to $100 or more per square foot to equally cover the replacement cost to restore a home back to it's original condition.

It's important to understand that when you estimate your replacement cost of your home in the 20903 zip code area, it will be the cost to replace the structure of your home, not the additional value of the property that is factored in when purchasing a new home.

The Nap Agency

Allstate Insurance Company - Marisa Alonso

Allstate Insurance Companies

Rockledge Insurance Group, Llc

Gary L Regotti - Nationwide Insurance

Household Data for 20903

The average number of homes in 20903 is around 6,783, there are an average of 3.54 per household. The average house value according to local real estate values is around $407,100. Please review the following demographics below for average income and media age.

• Can $600 Million Help Lower Florida Homeowners Insurance Rates? Posted on Friday 14th February, 2025

  Family relax on the couch. Happy beautiful young parents are smiling, hugging and playing with them kids at home together Governor DeSantis recently asked the legislature for over $600 million to help lower homeowners insurance in his 2025-26 budget request. The budget proposal asks for $590 million to go towards the My Safe Florida Home […]

• North Carolina Homeowners’ Insurance Premiums May See a 15% Increase Posted on Thursday 23rd January, 2025

  The base rate for North Carolina homeowners insurance will be headed up by an average of 15% by the middle of 2026. The rate increases are part of a settlement that was reached with the insurance industry by the North Carolina Insurance Department. The state Insurance Commissioner Mike Causey recently announced the rate increase agreement […]

• 2025 Florida Home Insurance Rates Could Increase Posted on Tuesday 14th January, 2025

  While many state legislators, industry leaders and insurance regulators have been claiming that the insurance market in Florida has stabilized, it looks like premiums may be headed up again in the near future.  According to an analysis by the South Florida Sun Sentinel, the average statewide premium, being paid for an all-perils single-family home policy […]