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Best Homeowners Insurance in Maryland (2023)

When it comes to protecting your home in Maryland, whether you’re gazing out at the Chesapeake Bay or nestled in the picturesque Appalachian Trail area, having a reliable home insurance policy can provide financial security against a range of potential risks, from severe storms to theft and fire. Fortunately, residents of the Free State have a variety of options when it comes to quality homeowners insurance.

To assist you in making an informed decision, the MarketWatch Guides team has conducted thorough research into the top homeowners insurance companies across the nation, evaluating them based on crucial factors such as customer satisfaction, cost-effectiveness, available discounts, claims process efficiency, and extended coverage options. After an extensive analysis, we’ve identified the top six homeowners insurance providers in Maryland.

1. Liberty Mutual: Our Pick for Discounts

If you’re seeking a homeowners insurance policy that offers significant discounts, Liberty Mutual stands out as an excellent choice. This provider is dedicated to helping homeowners save on their insurance costs through various discount opportunities, making it an attractive option for budget-conscious residents.

2. Allstate: Our Pick for Extended Coverage

When it comes to extended coverage options, Allstate takes the lead. With a range of additional coverage choices beyond the basics, Allstate ensures that your home and belongings are well-protected against unexpected events. This makes it an ideal choice for homeowners who value comprehensive coverage.

3. State Farm: Our Pick for New Homeowners

For new homeowners embarking on their homeownership journey, State Farm is a top recommendation. This provider offers tailored policies designed to meet the unique needs of first-time homeowners, providing them with a solid foundation of protection as they settle into their new abode.

4. Farmers: Our Pick for Customizable Coverage

Customizability is key for many homeowners, and Farmers excels in this area. With a range of options that allow you to tailor your coverage to match your specific circumstances and preferences, Farmers ensures that you only pay for the coverage you truly need.

5. Hippo: Our Pick for Quick Quotes

In a fast-paced world, convenience matters. Hippo offers an efficient and streamlined process for obtaining quotes, making it an ideal choice for homeowners who want to swiftly explore their insurance options without unnecessary delays.

6. Lemonade: Our Pick for Fast Claims

When it comes to making claims, Lemonade stands out for its speed and efficiency. With an emphasis on providing a hassle-free claims process, this provider ensures that you can get back on your feet quickly after a covered event.

According to data from Quadrant Information Services for the year 2023, the average cost of homeowners insurance in Maryland is $1,894 annually. This figure is notably lower than the national average of $2,417. With this context in mind, Maryland residents can approach homeowners insurance with confidence, knowing that they have access to cost-effective options that provide comprehensive coverage for their cherished homes.

As you explore the homeowners insurance landscape in Maryland, consider these top providers and their unique strengths. By selecting the right policy, you can enjoy peace of mind knowing that your home and belongings are safeguarded against a wide array of potential risks, allowing you to focus on creating lasting memories and building a bright future in the Free State.

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