Maryland Homeowners Insurance Coverage
Whether your home is in Ocean City, Baltimore or Oakland, with a Farmers Smart Plan Home® policy you can choose quality coverage for your Maryland lifestyle today, with many ways to help you save.
Is homeowners insurance required in Maryland?
No, homeowners insurance is not required by law in Maryland. However, in order to get a home loan, your mortgage lender will likely require you to obtain a certain amount of insurance coverage.
What does homeowners insurance cover in Maryland?
Every policy is different, but home insurance policies in Maryland typically come with several standard coverages.
- Dwelling (Coverage A). This coverage helps you pay for damage to your home from a covered event, such as a fire, windstorm, lightning or hail.
- Other structures (Coverage B). This coverage is intended to help cover structures that aren’t connected to your home, like a fence or shed.
- Personal property (Coverage C). This coverage helps you repair or replace your personal belongings if they are stolen or damaged.
- Loss of use, or additional living expense coverage (Coverage D). This coverage can help you pay to stay somewhere else if your home is uninhabitable due to covered damage.
- Personal liability (Coverage E). This coverage helps pay for accidental property damage or injuries you cause through negligence.
Typical home insurance policies in Maryland cover damage caused by events such as:
- Fire
- Vandalism and theft
- Lightning strikes
- Wind
- Hail
- Explosions
- Falling objects
- The weight of snow or ice
Flooding, a common risk in parts of Maryland, is not covered. However, special flood insurance through the National Flood Insurance Program (NFIP) may be available.
Home insurance coverage options in Maryland
Farmers gives you multiple options for covering your home and personal property. You can customize your policy to suit your lifestyle and dwelling type:
- Single-family home
- Condo
- Mobile or manufactured
- Seasonal or vacation
- Rental property
- Older home
How much does homeowners insurance generally cost in Maryland?
The average premium for home insurance coverage in Maryland is $1,169 per year1, according to a 2020 report (the most recent data available) by the National Association of Insurance Commissioners (NAIC). That’s less than the national average of $1,311 a year, according to same report. However, insurance costs in most states have changed since then. Also, the amount you pay may be different, depending on things like the value and age of your home, how much personal property you want to cover, what deductible you choose and risks specific to your area.
Maryland home insurance discounts
Farmers® offers a variety of savings opportunities for eligible home insurance customers in Maryland, including:
- Multi-policy
- Protective devices
- Non-smoker
See more information and additional discounts that may be available in Maryland.
Baltimore Oriole
More coverage options in Maryland
Learn From Experience
Read real-life stories about insurance, renovations, home safety and more from pros and homeowners like you.
When outside forces — think: inflation, natural disasters, supply chain issues, rising construction costs — impact either (or both) of those factors, it can explain why rates may be increasing. But there are steps you can take to help keep your costs down.
They Had Minutes To Pack And Flee Before The Flood
These homeowners escaped epic flooding, but floodwaters destroyed their homes. Here, they talk about how they escaped, what they did beforehand, and what they’re doing to prepare for the next flood.
Generally, if the cause is sudden and accidental — if an appliance or bathroom fixture springs a leak or a storm blows a tree through your roof and rain pours in — the typical homeowners insurance policy covers resulting water damage.
1 Based on average premium for HO-3 type open perils homeowners policies.