Best Condo Insurance In Maryland
In Maryland, condo insurance averages $645 annually, with Nationwide leading as the premier insurer.
We’ve saved shoppers an average of $450 per year on their home insurance.
Maryland often sees severe weather, including tornadoes, that can damage condos. Although condo insurance isn’t required by law, lenders may make it a condition for a mortgage. It provides financial coverage for property and content losses and may include structural coverage if your HOA requires it.
To stay prepared, pick a policy that handles risks like theft and extreme weather. If you’re uncertain, this guide can help you explore the best condo insurance options in Maryland.
Best Condo Insurance Companies In Maryland, 2026
Compare The Best Condo Insurance Policies In Maryland
| Best For | Overall Rating | A.M Best Rating | J.D Power Rating | Get A Quote | |
|---|---|---|---|---|---|
| Nationwide |
Overall |
|
A+ |
816 |
Instant Quote |
| Travelers |
Discounts |
|
A |
794 |
Instant Quote |
| Amica |
Runner-Up |
|
A+ |
849 |
Instant Quote |
| Chubb |
High-Value Condos |
|
A++ |
809 |
Instant Quote |
Best Condo Insurance Companies In Maryland 2026
Best For High-Value Condos
Key Statistics
Why We Like Them
⇅Luxury condo owners in Maryland will appreciate Chubb’s superior service and specialized policies. Their Masterpiece policy provides extended replacement cost coverage, ensuring that rebuilding costs are covered beyond the insured limit. With add-ons like cyber and identity fraud coverage, Chubb addresses the specific needs of affluent homeowners. High coverage limits further enhance their premium protection offerings.
Benefits & Drawbacks
⇅- Includes extended insurance options
- Top-tier customer help
- The complaint count was minimal. ✓
- Crafted for opulent condo residences
- Charges are above the industry's typical costs.
- Not endorsed by the BBB. ✘
Best Runner-Up
Key Statistics
Why We Like Them
⇅In second place, Amica delivers extensive coverage options for Maryland condo owners. Their Platinum Choice policy offers higher coverage limits and added protection compared to standard plans. With premiums that undercut Allstate’s, Amica is a cost-effective choice. Policyholders can save up to 20% by bundling auto and condo insurance. The company is also known for excellent customer service and consistently high satisfaction ratings.
Benefits & Drawbacks
⇅- Multiple insurance coverage options
- Sparse customer grievances
- Stable financial position of insurer. ✓
- Rates that are greater than average.
- The rating of AM Best was downgraded in 2017.
- Availability of condo insurance dividends varies by state. ✘
Best Overall
Key Statistics
Why We Like Them
⇅Nationwide tops this guide by providing flexible policies designed for various needs. They offer coverage for personal belongings, such as clothing and furniture, and ALE coverage to assist with costs if your condo is temporarily uninhabitable. Endorsements are available for added protection. Their claims team ensures timely and fair resolutions, while their superior customer service delivers a hassle-free experience.
Benefits & Drawbacks
⇅- Affordable charges
- An extensive spectrum of coverage alternatives
- Exceptional client support ✓
- Suited for luxury residential properties.
- Offers valid for a limited time.
- Likelihood of additional financial outlays ✘
Best For Discounts
Key Statistics
Why We Like Them
⇅Travelers Insurance is a top choice for Maryland condo owners looking for discounted, comprehensive coverage. With their multi-policy discount, you can save up to 15% by bundling condo and auto insurance, streamlining your insurance process. Travelers also offers a protective device discount for installing smart technology or safety systems, promoting risk reduction. Their affordable rates make them a standout option for reliable condo insurance.
Benefits & Drawbacks
⇅- Fair pricing
- Ability to combine different insurance packages
- Top-notch financial robustness assessment ✓
- Narrow reach
- It's possible there's a list of dogs that are not permitted ✘
How Much Is Condo Insurance In Maryland?
Condo insurance in Maryland averages $645 yearly. Farmers offers the best rates, about $410 annually. The following table breaks down annual premiums for condo insurance from five major providers in the state.
| Insurance Company | Average Annual Rate |
| State Farm | $308 |
| Nationwide | $469 |
| Farmers | $410 |
| Travelers | $495 |
| Erie | $734 |
Average Cost Of Condo Insurance In Maryland – By City
Here are the average condo insurance rates in several of Maryland’s largest cities.
| City | Average Annual Rate |
| Laurel | $632 |
| Rockville | $578 |
| Salisbury | $674 |
| Annapolis | $644 |
| Baltimore | $713 |
Condo Insurance Rates In Maryland – By Building Property Limits
Condo insurance isn’t standardized; it’s based on the cost of rebuilding your specific condo. Below, you’ll find a comparison table of average monthly premiums for different coverage limits.
| Building Property Limit | Average Annual Rate |
| $40,000 | $562 |
| $60,000 | $648 |
| $80,000 | $716 |
| $1,00,000 | $785 |
Don’t prioritize the lowest insurance rates; seek a policy that offers a balance of cost, coverage, financial stability, and excellent customer service.
How To Find The Best Condo Insurance Company For You
Condo insurance is a smart way to protect your home and belongings. To find the best policy:
Figure out your coverage requirements.
Research and select three insurers online.
Get quotes from each.
Compare their policies and pricing.
Purchase the best option for your needs.
How To Get An Online Condo Insurance Quote In Maryland
The best way to secure condo insurance in Maryland is to compare multiple quotes from trusted providers. You can get started on Insuranceopedia. For accurate quotes, be ready to provide these details:
- Full name
- Condo’s address
- Year of construction
- The exterior wall type
- Square footage of your condo
- The rebuilding cost estimate
- Estimated value of your belongings
- Number of residents
- Claims history
- Safety and security devices
Factors That Impact The Cost Of Your Condo Insurance Policy
The price of condo insurance in Maryland is influenced by:
- Replacement Cost: Higher rebuild values increase premiums.
- Location Risks: Areas prone to crime or severe weather lead to higher rates.
- Condo Age and Materials: Older buildings with outdated systems cost more to insure.
- Claims History: A claims-free record may lower costs, but frequent claims raise premiums.
Most Expensive ZIP Codes For Condo Insurance In Maryland
The average cost of condo insurance in Maryland’s 21824 ZIP code is $2,667 per year, the highest in the state.
| ZIP Code | Average Yearly Premium |
| 21813 | $2,359 |
| 21841 | $2,338 |
| 21824 | $2,667 |
| 21842 | $2,628 |
Cheapest ZIP Codes For Condo Insurance In Maryland
ZIP code 20852 tops the list for affordable condo insurance, averaging $1,365 per year.
| ZIP Code | Average Yearly Premium |
| 20841 | $1,382 |
| 20833 | $1,384 |
| 20852 | $1,365 |
| 20814 | $1,366 |
How Much Condo Insurance Is Legally Required In Maryland?
While condo insurance isn’t required by law in Maryland, it’s often a prerequisite set by lenders or associations. Liability coverage limits usually range from $100,000 to $500,000.
How Much Condo Insurance Do I Need In Maryland?
The amount of condo insurance necessary in Maryland is determined by factors such as your condo’s layout, the value of your personal belongings, and the coverage included in your condo association’s master insurance policy. Adding loss assessment coverage to your policy can help protect against costs incurred from damages or losses in shared condo areas.
How To Save Money On Maryland Condo Insurance
One of the easiest ways to reduce condo insurance premiums in Maryland is by raising your deductible. While this can lower your monthly premiums, consider how much you’ll need to pay upfront if you make a claim. Another method is weatherproofing and burglar-proofing your condo to reduce risks. Adding storm shutters or security devices can protect your home from extreme weather and break-ins, which can help lower your insurance rates.
Compare Condo Insurance Rates To Other States
| State | Average Annual Premium |
| Alabama | $607 |
| Alaska | $418 |
| Arizona | $440 |
| Arkansas | $578 |
| California | $605 |
| Colorado | $479 |
| Connecticut | $403 |
| Delaware | $498 |
| Florida | $1,069 |
| Georgia | $553 |
| Hawaii | $368 |
| Idaho | $483 |
| Illinois | $407 |
| Indiana | $384 |
| Iowa | $299 |
| Kansas | $397 |
| Kentucky | $391 |
| Louisiana | $786 |
| Maine | $408 |
| Massachusetts | $461 |
| Michigan | $360 |
| Minnesota | $351 |
| Mississippi | $634 |
| Missouri | $388 |
| Montana | $521 |
| Nebraska | $391 |
| Nevada | $477 |
| New Hampshire | $381 |
| New Jersey | $429 |
| New Mexico | $433 |
| New York | $475 |
| North Carolina | $519 |
| North Dakota | $287 |
| Ohio | $315 |
| Oklahoma | $655 |
| Oregon | $400 |
| Pennsylvania | $390 |
| Rhode Island | $587 |
| South Carolina | $530 |
| South Dakota | $328 |
| Tennessee | $492 |
| Texas | $873 |
| Utah | $301 |
| Vermont | $375 |
| Virginia | $372 |
| Washington | $400 |
| West Virginia | $331 |
| Wisconsin | $272 |
Our Methodology
To determine the best condo insurance companies in Maryland, I assessed customer satisfaction and financial stability ratings from credible sources such as J.D. Power and AM Best. I also reviewed consumer reviews and relied on my expertise as a licensed property and casualty agent specializing in condo insurance in the state.
Quotes Analyzed
Brands Reviewed
Years Of Experience
Research Hours
FAQs
What Does Condo Insurance Cover In Maryland?
Often termed an HO-6 policy, condo insurance protects the inside of your condominium and its contents from sudden damage or loss. This includes items such as walls, floors, fixtures, and cabinets, as well as personal property. Furthermore, condo insurance offers liability coverage and generally includes $1,000 for loss assessment coverage to handle damages affecting shared areas within the condo complex. You can increase coverage limits by adding a policy endorsement.
How does condo insurance work?
Condo insurance ensures financial stability for condo owners, safeguarding their condominiums and personal possessions from multiple risks through an extensive array of coverage options and additional policy enhancements.
About Bob Phillips
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