8 Best Renters Insurance Companies in Maryland of 2026

In Maryland, millions of residents live in cities and suburbs, most of whom are within commuting distance of major Federal hubs. This state offers a variety of urban, suburban, and rural areas to live in. As a renter in Baltimore, Bethesda, or Annapolis, getting renters insurance is important.

According to PropertyNest research, the average cost of basic renters insurance in Maryland is $16.67 per month or $200 per year.

Determining the cost of your renters insurance is contingent upon the value of your possessions and the extent of coverage you desire. This insurance type generally accounts for damages from fire, theft, or vandalism to your personal property and liability coverage if a visitor sustains an injury on your premises.

It is crucial to evaluate the worth of your belongings and the optimal coverage level before purchasing a renters insurance policy. This will enable you to avoid unnecessary expenses. When searching for a renters insurance plan, ensure it meets your coverage requirements while being cost-effective.

The Best Renters Insurance in Maryland

• Lemonade – Best for Online and Mobile App Coverage
• Liberty Mutual – Best for Young People
• Allstate – Best for Multi-Policy Discount
• State Farm – Best for Cheap Renters Insurance
• Travelers – Best for Additional Coverage
• Nationwide – Best for Additional Living Expenses
• Amica Mutual – Best for Customer Service
• Erie Insurance – Best for Comprehensive Coverage

Our Top Choice

Lemonade: Best for Online and Mobile App Coverage

Lemonade is all AI, meaning you get instant quotes, buy coverage, and file claims, to name a few, from the company’s website and mobile app.

For Maryland residents, Lemonade is a top choice as the company’s website is easy to use, and you can find many of the questions you may be asking yourself in the company’s lengthy FAQ page before signing up.

Lemonade offers a variety of different policies with rates that start at $5 per month. The coverage you choose will affect your overall costs for the plan, so it's important to consider what is best suited for you before signing up.

Available for both iOS and Android, Lemonade’s cleanly designed app is the best way to file a claim from the comfort of your home at any time of the day, saving you time because you only make a claim when you want to.

Lemonade says it handles 30% of claims instantly.

In many cases, eligible claims may be processed quickly, with some insurers promising payments within a few minutes for straightforward cases, while more complex claims may take longer.

Read the full Lemonade home & renters insurance review.

Liberty Mutual: Best for Young People

If you have personal belongings you want to cover in renters insurance that isn’t that expensive, Liberty Mutual is your best bet.

With Liberty, if the total value of your property is less than $10,000, the insurer is an excellent choice for young people, including millennials, those fresh out of college, or those still in college.

However, Liberty Mutual's average renters insurance policy costs $16 monthly, which is higher than State Farm and Travelers'.

Liberty Mutual’s low minimum property requirements also have discounts that can lower the standard $16 monthly policy, which enables young people to afford the coverage.

You can save on the cost of your renters insurance if you:

• Sign up online
• Elect to make automatic payments that are linked to your bank account
• Maintain a clean record
• Bundle with another Liberty Mutual policy
• Switch from your current provider before your policy ends
• Have security features in your unit
• Go paperless and receive policy info electronically

Read a full Liberty Mutual home insurance review.

Allstate: Best for Multi-Policy Discount

Allstate already offers affordable policy premiums comparable to State Farm in Maryland.

But Allstate drives your premium down with several discounts.

The best one is bundling. Almost all renters insurance companies in Maryland offer a bundling discount, but Allstate is one of the cheapest.

Also called a multi-policy discount, bundling renters with your auto policy will give you 10% off your auto policy and 25% off your renters policy.

With bundling, you can save between $200 to $800 a year.

The average monthly premium is about $16.

You can also get a discount on many things, but here are the most popular:

• If you live in a low-crime rate neighborhood, you get a discount.
• Being claims-free for a set time.
• You also get a discount if you are retired or older than 55.

Read a full Allstate renters insurance review.

State Farm: Best for Cheap Renters Insurance

State Farm is known for many things, including being renowned as the largest insurer for home and renters policies in 39 states, its reputation for meeting the needs of its clients, and its physical and online presence to help make a claim easier and faster.

It is also known as the most affordable renters insurance in Maryland.

The average cost of State Farm renters insurance is only $10.83.

This is according to State Farm.

State Farm beat the average cost of renters insurance in the US, which is $190 per month or $15 monthly.

Read a full State Farm renters insurance review.

Travelers: Best for Additional Coverage

Customers turn to Travelers because it has the most optional coverages compared to similar companies in size and strength.

Additional coverage or add-ons means you can customize your insurance to your needs.

Here are some add-ons that Travelers offer:

• Water backup coverage.
• Equipment breakdown.
• Additional coverage package.
• Decreasing deductible.
• Identity fraud expense.
• Valuable item coverage.
• Extended liability.

What Stands Out?

Replacement coverage is usually not covered in a basic renters insurance plan.

Most policies come with actual cash value (ACV).

With replacement from Travelers, you get the full replacement cost on an item covered in your policy that has been destroyed or stolen. This means there’s no deduction for depreciation, which is ACV.

The endorsement of valuable items places special attention on the high-value property (jewelry, fine art, collectibles).

It allows you to add higher coverage limits to your renters insurance policy so that your personal property will be covered when your policy limit is $10,000, the standard offered in a basic renters policy, which is low.

Travelers is also known for its affordable policy.

Its average cost is a dollar cheaper than State Farm, coming in at$12 a month or $147 a year.

State Farm costs around $10, meaning Travelers charges Maryland's second-lowest premiums.

Nationwide: Best for Additional Living Expenses

Suppose a fire or another covered peril in your building damages your unit to the point where you find it uninhabitable. In that case, loss of use will reimburse you for hotel stays, restaurant meals, and any belongings you need for upkeep.

Loss of use is standard in basic renters insurance. Still, Nationwide takes this policy further and adds up to 24 months of additional living expenses (ALE) coverage at no cost to you.

This means you’ll probably have enough renters insurance to pay for ALE if your home takes longer to build.

ALE also gives you peace of mind.

Amica Mutual: Best for Customer Service

Amica Mutual has many glowing customer reviews about the insurer’s customer service.

In addition, it has a very low complaint ratio, according to NAIC.

Thus, Amica has great customer service, especially with its local offices in Maryland.

In addition, Amica Mutual has a great online presence with its customer portal.

Here, you can do most things that a company rep can do, like report and track claims, upload documents, and check up on add-ons you may want.

Read a full Amica renters insurance review.

Erie Insurance: Best for Comprehensive Coverage

Erie Insurance has one of the best comprehensive coverage in Maryland.

You can sign up for three different bundles that offer excellent customization and many ways to save from discounts and bundling.

Erie’s basic policy is called the ErieSecure Tenant. This means globetrotters have worldwide personal property coverage.

Also standard is the extended liability protection that protects you from slander, discrimination, and cyberbullying.

This liability is in addition to LEC and the standard medical payment policy.

And you can also choose from three different bundles, one of which may suit your needs.

“Advantage” increases coverage limits well above the basic policy limit.

“Plus” waives your deductible if the property loss exceeds $50,000.

It also increases coverage limits by adding coverage for pets, business personal property, and more.

Finally, “Select” encompasses both bundles but offers higher limits.

Is Renters Insurance Mandatory to Rent in Maryland?

Renters insurance is not required by law in Maryland. However, some landlords may require you to live in their building.

The landlord of your apartment, condo, co-op, rental unit, or home will have insurance.

For example, the landlord’s insurance protects the building structure for apartments. It is also used to repair or overhaul common areas such as the lobby, concierge, entrance hall, foyers, elevator, apartment halls, and stairwells, to name a few.

Because your landlord’s insurance doesn’t cover any damages to your personal property, purchasing renters insurance is a good idea.

What are the Risks to Consider in Maryland?

Maryland’s climate has two seasons that can be detrimental to the state.

It is incredibly hot in the summer, and the air is characterized by extreme humidity.

In the winter, it’s unbearably cold.

Maryland's earthquake and tornado damage are much lower than the national average.

Maryland's most common natural disasters include hurricanes, severe storms, tropical storms, winter storms, tornadoes, wildfires, landslides, and extreme heat.

In Baltimore, hurricanes and tropical storms have produced wind damage, riverine flooding along tributaries, and inundation of shorelines and harbors through intense storm surges.

All heavy storms cause flooding. Flooding is the most detrimental natural disaster in Maryland. So flash, riverine, and coastal flooding are the major concerns.

What Are the Main Reasons to Buy Renters Insurance in Maryland?

One reason is that Maryland has a higher violent crime rate than the national average. Among all 50 states, Maryland has the eleventh-highest violent crime rate.

The cities with the highest crime rates include Luke, Oxford, Brentwood, Frederick, Takoma Park, Westminster, Aberdeen, and Annapolis, to name a few.

The other reason is that Maryland’s weather can be hazardous to residents, especially when there are high winds and hurricanes., as discussed.

Consider whether you would be financially capable of replacing your personal belongings out-of-pocket after unforeseen losses due to crime or natural disasters.

What is the Average Cost of Renters Insurance in Maryland

The average cost of basic renters insurance in Maryland is $16.67 a month or $200 a year.

But remember, your average cost will be lower or higher depending on where you live.

Expect to pay more if you buy add-ons, such as flood insurance or additional wind damage coverage.

What Factors Determine Renters Insurance Rates?

Floods

Due to hurricanes and high winds, your rate will be high if you live in a flood-prone neighborhood.

Crime Rate

You'll also pay more if your city or suburb has a high crime rate.

Safe Neighborhood

But you'll pay less if your neighborhood is safe and has a low crime rate, and your rental is near a fire hydrant.

And you’ll pay even less if one or more of these describe your situation:

• If your rental is inside a gated community with attending guards or key code access.
• If your rental is on a high floor.
• If you have window guards, a smoke detector, and multiple locks on your doors.
• If your apartment building has cameras and other safety devices in the lobby or outside the entrance.
• If your apartment building has doormen, especially if they are 24/7.

Claims History

If you have never claimed for a period that your insurer decides, you’ll pay less.

Deductible

If you raise your deductible, your rate will be lowered.

Why Doesn’t Your Credit Score Determine Your Maryland Renters Insurance Rate?

According to Maryland’s law, insurance companies can’t use your credit score to set your renters insurance rate or deny you insurance.

Maryland is one of the few states with this restriction.

How Much Renters Insurance Do You Need?

When you buy renters insurance, you’ll need to figure out how much coverage you need.

You should have as much liability coverage as you can get.

Typically, the basic renters insurance policy starts with $10,000 to $30,000 in personal property coverage. Liability coverage commonly starts at $100,000, but higher limits, such as $300,000, are also available, depending on the insurer.

These are very low coverage limits.

But that’s why renters insurance looks so cheap, costing $12 a month.

And that’s why companies can advertise that a policy will only set you back that low amount.

You rarely pay that amount monthly because you often need to increase your coverage limits.

As discussed, the insurer will only pay up to the policy limit or pay a small percentage.

The typical standard renters insurance value cap for high-priced items like the artwork is around $10,000.

If the artwork is your most prized possession, you should schedule the item on top of your basic policy.

This will increase your premium but will fully cover the painting.

Scheduling means you can increase the coverage amounts of your insurance for your belongings that are high in cost, like artwork.

What Does Renters Insurance Cover?

In Maryland, the standard renters insurance policy covers liability, theft, medical treatment, and loss of use.

But no matter the state, the standard policy never changes from what it offers.

What makes a basic policy unique is the customization you can get to tailor your policy to your needs and any add-ons or endorsements you may want to purchase for additional coverage or protection.

So, the standard coverage includes:

Liability Coverage

Liability protects you against lawsuits from someone who has bodily injuries or property damages that you or your family caused to them.

Liability also covers your legal defense.

Personal Property Coverage

This pays to repair or replace property stolen, vandalized, or damaged due to fire, windstorms, smoke damage, and other perils your policy may cover.

Theft coverage, which comes standard in a basic policy, doesn’t just protect your property if someone breaks into your home or is burglarized.

It is also covered when you are outside. You'll be covered if you’re miles and miles away, on vacation, and your laptop gets stolen.

Loss of Use

This policy covers basic living expenses and temporary housing costs if you can’t live in your rental unit due to damage and destruction from fire, smoke, and heavy winds.

Medical Payments

This policy pays for medical care if there is bodily injury to a person that occurs in your rental unit, regardless of fault.

Renters Insurance Coverage Add-Ons

Renters insurance can offer a range of coverage options to renters if they so choose, including personal property protection and liability coverage.

Additional renters insurance coverage add-ons are available depending on the individual's needs and situation.

These additional renters insurance coverage add-ons could include flood protection, renters identity theft coverage, renters jewelry insurance, and many more.

Speak with your renters insurance provider to review all the options best suited for your needs to ensure you have the most comprehensive renters insurance policy.

Hurricane & Flood Coverage

Renters insurance covers wind damage, water damage, and hail.

But no matter what renters insurance company you pick, a renters insurance policy never covers flooding.

Given Maryland’s varying elevation, you should turn to the Federal Emergency Management Agency’s (FEMA) flood map database to see how much of a risk flooding is for you and your rental.

You can also check the Maryland Emergency Management Agency map to see if you live in a hurricane evacuation zone.

Suppose it turns out your city or suburb in Maryland is prone to floods and hurricanes. In that case, it’s recommended that you purchase separate endorsements for flood insurance and hurricane insurance so your belongings are fully covered.

And especially if your unit itself is at risk.

For example, flood insurance is necessary if you live in a ground-floor apartment or the basement and will protect your property if the flood causes damages.

Wind Coverage

A standard renters policy covers heavy winds, but the frequency in which they happen in Maryland may mean that your policy may not fully cover the damages they caused.

So, taking out an additional wind coverage policy is also wise.

Earthquake Coverage

Standard renters insurance generally does not cover damages caused by earthquakes or flooding. Renters in flood-prone areas are advised to purchase separate flood insurance policies.

Maryland does have earthquakes, but they tend to be low-magnitude.

You may not need earthquake coverage because it usually damages the structure of your building and is thus something your landlord should be responsible for.

And besides, most Maryland residents don’t need it. That’s unless they own expensive collectibles that can easily break, like fine china.

Who is Covered by Renters Insurance?

If you and your family and maybe your extended family live together under the same roof in a rental, these people will be covered by your renters insurance.

But the key here is to read the fine print of your policy.

If someone living with you is not a blood relative but is considered part of your family, you need to know if that person is covered.

In this sense, it may be important to add an endorsement to cover that person if there are limitations on your coverage.

However, if you lose that laptop, that’s not covered.

What is Not Covered Under Renters Insurance?

If you think you don’t have to insure your Gerhard Richter painting because a renters policy has you covered, think again.

Renters insurance pays for personal belongings.

However, if that painting is high in value, which it is, it may be subject to a low limit of liability.

This means the insurer will only pay up to a certain amount or a small percentage of the value of that Richter painting.

Roommate Property

If you have a roommate, your renters insurance will not cover the roommate’s personal property. The roommate must purchase a policy to protect the roommate’s belongings.

And as we discussed, renters insurance won’t cover damaged or lost possessions due to natural disasters like floods and earthquakes.

In addition, if you accidentally lose or misplace your smartphone or laptop, your insurance won’t cover replacements.

As for pets, if your dog causes injury, like biting your neighbor while at your rental, an extra pet liability with an added cost will cover any medical bills that your neighbor may rack up.

However, you may pay a higher premium for liability coverage if you own certain breeds, such as pit bulls or Doberman pinschers, which some insurance companies categorize as high-risk.

In some cases, a renters policy may decline coverage if you own such breeds.

But in most instances, you may have to pay out of pocket if your dog destroys your neighbor’s personal property.

Our Methodology

We thoroughly researched the state's top renters’ insurance companies and narrowed the list down to those that operated in Maryland. We rated them on criteria that included ease of use, ratings, financial strength, customer, and affordability. Read our full in-depth renters insurance methodology.

How We Ranked & Picked the Best Renters Insurance Companies in Maryland

To determine “the best” renters insurance company. We looked at several factors, including affordability, customer service satisfaction, how quickly a company can reimburse you for a claim, additional coverage that can broaden the scope of your policy, and any discounts a company had that could lower your monthly premium in a big way.

Price

To determine the best renters insurance companies, we chose only those with affordable basic policies.

We gave ourselves a budget so everyone could purchase insurance without breaking the bank.

If the insurer had a premium that cost lower than the state average, we would put that company on our list.

Discounts

So much of determining which insurance is best for you involves trying to get the best deal. So, we also looked at companies with the most discounts that could significantly lower your premium.

Coverage

We considered the company's liability and personal belonging claim coverage for a basic renters insurance policy in Maryland.

Sometimes, the typical claim limit for high-value items like jewelry or collectibles is between $1,000 and $2,000. Those caps can barely cover the latest iPhone.

So, we looked at the types of coverage you can get beyond what a standard policy could offer.

This meant we looked at endorsements and riders that required additional costs but which made coverage more comprehensive.

Technology

An insurance company with an online presence and a mobile app makes it easier for policyholders to take care of all their renters insurance needs, including filing a claim, checking your policy, or looking for add-ons.

Those companies offering electronic services for convenience and saving time were on our list.

It would be best if you never had difficulty finding something about your insurance online or on an app.

So, if a company’s website and app were easy to navigate and offered a lot of useful features, we seriously considered that company.

Customer Satisfaction

When deciding on a renters insurance company, looking at customer reviews is important. We scoured customer reviews from many trusted sites to see how well renters insurance performed.

We also considered rating companies such as AM Best and JD Powers to see if a particular renters insurance company had a high score based on customer service performance.

Locations

We didn’t just research renters insurance quotes in Maryland. Since we needed to compare quotes to find the best policy, we looked at other

important or famous cities and suburbs in Maryland, including Baltimore, Columbia, Annapolis, Germantown, Ellicott City, Frederick, Bethesda, Rockville, and more.

That gave us a wider picture of how insurance rates vary per town and to see which towns had the lowest premiums and why.