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Maryland Homeowners Insurance Quotes
For all Maryland residents living in a single family home, consider "The Old Line State" great location when comparing your homeowners insurance facts and statistics with the rest of the country. Did you know on average, Maryland homemowners pay only $800 on average for homeowners insurance making Maryland ranked number thirty in the nation. The nationwide average is around $978. Overall, Maryland is above average as 66.5 percent of housing units in the state of Maryland were owner occupied, the average was 63.5%. In 2013, some of the neighboring states like West Virginia, Delaware, Minnesota and Vermont had the highest percentage of owner-occupied housing units.
You may find it interesting that in 2012 Hawaii, California and New Jersey had the highest homeownership costs, based on the percentage of homes in which owners spent 30% or more of their income on home related expenses like mortgage payments, real estate taxes, property insurance, general utilities, oil, gas and fees. Maryland was a little below average at 33.2%, the United States average was 33.7%. It's very important that your home insurance coverage is affordable, but most of all benefical when you need to depend on insurance protection and quality service.
At GetHomeInsuranceQuotes.com, we provide quality service to our customers and you can find affordable premiums and great coverage from an agency that has been in Maryland for over 12+ years. Our Maryland licensed agents are ready to help you compare multiple home insurance quotes and review a variety of coverage options that best fit your needs. We can shop up to 12 top carriers in MD, which may include: Nationwide, Progressive, Safeco, Liberty Mutual, Travelers, Metlife, Foremost Insurance, Zurich, The Hartford, Chubb and Titan Insurance.
Give us a call today or easily start your Maryland home insurance quote now. Just enter your zip code above to start your free quote!
Average Homeowners Insurance Premiums in Maryland
With over 95% of all Americans are known to have homeowners insurance coverage, it's important to know what Maryland homeowners are paying on average. Did you know that the average homeowners insurance premium in Maryland is $1169? Maryland is now ranked 29 in the country. The country wide average for homeowners in the United States is $1,311. This means the average home insurance premium in Maryland is 10.83% less than the national average.
| Year | Average Annual Premium | Average Monthly Premium | State Rank (Overall) |
|---|---|---|---|
| 2020 | $1169 (3.9%) | $ 97 | 29 |
| 2019 | $1125 (5%) | $ 94 | 31 |
| 2018 | $1071 (3.23%) | $ 89 | 32 |
| 2017 | $1037 (1.46%) | $ 86 | 30 |
| 2016 | $1022 (3.99%) | $ 85 | 30 |
When we combine the state averages over the last decade, the Maryland overall average is estimated to be around $990.00. Our homeowners insurance quoting and rating process helps you compare homeowners insurance quotes, coverages and premiums. Maryland current state rank compare to the rest of the country is #29. Consider shopping your Maryland home insurance with us so we can help you save up to 40% or more on your policy.
Find Local MD Homeowners Insurance Quotes & Coverage
For more information on homeowners insurance in your area, choose a county below:
Maryland Homeowners Insurance News & Information
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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 […]
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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 […]
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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 […]
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Economists Top 5 Housing Predictions for 2025 Posted on Monday 6th January, 2025
Housing costs are currently sky-high, regardless of whether you are renting or in the market to buy a home. According to the latest data from the U.S Cenus, the median sales price for a single-family home was $437,300, which is up from $426,800 a month prior. On the rental front, the median price for rent […]
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Do homeowners insurance policies have loopholes? Posted on Monday 30th December, 2024
Homeowners insurance is a necessity to help protect your home, but there can be coverage gaps that you may not be aware of which can leave you unprotected. Flood and earthquake damage along with mold and other issues are excluded from most standard homeowners insurance policies. Here are some common exclusions that could leave you […]
Maryland Housing & Real Estate Data
| Details: | Staticstics |
|---|---|
| Total Housing Units | 2378814 |
| Occupied Housing Units | 2156411 |
| Vacant Housing Units | 222403 |
| Vacant Housing Units for Rent | 61874 |
| Vacant Housing Units Rented Not Occupied | 3742 |
| Vacant Housing Units For Sale | 32883 |
| Vacant Housing Units Sold Not Occupied | 6586 |
| Vacant Housing Units For Seasonal Occasional Use | 55786 |
| Vacant Housing Units All Other Vacants | 61532 |
| Housing Units Homeowner Vacancy Rate Percent | 2.2 |
| Housing Units Rental Vacancy Rate Percent | 8.1 |
| Housing Tenure Occupied Units | 2156411 |
| Housing Tenure Occupied Units Owner Occupied | 1455775 |
| Housing Tenure Occupied Units Owner Occupied Population | 3940520 |
| Housing Tenure Occupied Units Owner Occupied Averge Household Size | 2.71 |
| Housing Tenure Occupied Units Renter Occupied | 700636 |
| Housing Tenure Occupied Units Renter Occupied Population | 1694657 |
| Housing Tenure Occupied Units Renter Occupied Average Household Size | 2.42 |
Understanding Maryland Homeowners Insurance
When shopping for Maryland homeowners insurance quotes you should be aware of the various types of insurance policies that are available in your area:
- HO-3: This is the most common type of homeowers policy. This policy type protects your home against all perils, except ones that are specifically excluded. In most cases earthquake and flood damage are excluded.
- H0-6: This policy type is specifically written for condos or co-ops. If you own a condo or live in a co-op building this type of policy is a necessity. A HO-6 policy covers both your personal belongings and the structural parts of the building that you own. There are 16 disasters listed on a typical policy that HO-6 protects against.
- HO-4: If you are looking for Maryland renters insurance, a HO-4 policy is a great option. Renters insurance will cover your contents as well as offer liability coverage in the event a person is injured in your apartment.
While other types of policies exist, these are the most common ones. A HO-2 is a more basic policy that offers reduced coverage levels and a HO-5 is a high-end policy that offers increased protection.
If you are shopping for a new home in Maryland, homeowners insurance is a must do. We can help you find the perfect policy for your new home, regardless of whether you need a standard HO-3 policy, HO-6 or renters insurance, our site makes shopping for homeowners insurance quotes easy. Visit our online quoting application today and let us help you shop and compare up to 12 different Maryland rates and coverage options.