Renters Insurance in Maryland

Get your stuff covered, from Baltimore to Annapolis.

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Whether you’re in Maryland to work, study, play, or anything in between, you’ll probably want to get your stuff covered with renters insurance.

We’ll take you through the basics of renters insurance coverage in the Free State—it might be simpler, and more affordable, than you expect.

Here’s what we’ll go over:

How much does renters insurance cost in Maryland?

The average price for renters insurance in Maryland is $16/month as of 2024, according to ValuePenguin.com. (FYI, the average cost of Lemonade Renters insurance across the U.S. is $14/month.)

This rate may be lower than you’d have guessed. Remember, cheap renters insurance doesn’t mean inferior renters insurance—but make sure to read any fine print, and compare all coverages to make sure you’re getting the best deal overall.

Of course, your particular quote may be different. Certain cities or towns within Maryland will have higher or lower renters insurance averages—a quote in Baltimore may differ from one in Annapolis, Columbia, or Frederick—and other factors can come into play, including which insurance provider you go with.

The quickest way to figure out your price? Get a renters insurance quote online.

What does your renters insurance cover in Maryland ?

maryland renters insurance

Okay, so you get that a renters insurance policy is a great idea in theory… but obviously you’re curious about what it can actually do for you. Let’s break down the components of what your policy covers and your coverage options.

FYI, in Maryland, Lemonade sees a fair amount of claims for water-related damage, as well as theft.

Your single renters insurance policy in Maryland is actually composed of a few different types of coverage.

Personal Property

‘Personal property coverage makes sure your stuff, your personal belongings, is protected, whether you’re relaxing at your apartment or traipsing across Europe.

So if your living room furniture is ruined due to water damage from that burst pipe, or your phone is stolen while you’re taking a trip to Berlin, your renters insurance policy has your back. You’ll also be protected against other “perils,” like vandalism, windstorm damage, and more.

The actual physical structure of your rental—the walls, ceiling, windows, any appliances you don’t own yourself, and so on—would all fall under your landlord’s insurance policy.

Loss of Use

What about if disaster strikes? If you can’t stay at your home because of covered losses (like a fire or windstorm), your ‘loss of use coverage provides reimbursements for temporary housing and additional living expenses such as food, laundry, hotel parking, and more. 

Personal liability coverage

If someone is injured in your apartment, or anyone on your policy causes damage to someone else’s property or stuff, your insurance company may help with legal fees and property damage.

Medical Protection

Your insurer covers medical expenses if your guests get injured at your place or if you accidentally hurt people outside of your home as well. Note that your renters insurance policy does not cover medical payments if you or someone residing with you is injured—only non-residents and guests.

Is renters insurance required in Maryland?

While there’s no law requiring that you purchase renters insurance in Maryland, your individual landlord might specifically require it. And if your lease specifies that you need renters insurance, well… that’s that.

The good news is that it’s easy to sign up for a renters insurance policy with Lemonade, and you’ll thank yourself later if your stuff gets stolen or damaged! When signing up, your landlord might request they be added as an ‘interested party‘ on your policy. This just means they’ll be kept in the loop when you make any policy changes—or if you cancel your policy. It’s super easy to add them using the Lemonade app.

How can you save on renters insurance in Maryland?

In addition to renters insurance, Lemonade also offers term life insurance and pet health insurance in the state of Maryland. Depending how you bundle your policies, you can unlock savings and insurance discounts in order to lower your renters insurance rates.

Click the button below to check out your bundle discount options when combining renters insurance with pet insurance for your furry friend.

Get Renters & Pet

There are a few additional ways to lower your monthly renters insurance premium:

  • Dropping your coverage limits can reduce your cost. However, saving a bit of cash now could mean you pay more out of pocket later, in the event of an insurance claim.
  • Raising your deductible might also lower your premium—but again, this means you’d be liable for more out of pocket expenses down the road.
  • Adding safety and security services, like fire alarms or burglar alarms, can also make you eligible for discounts.

What’s the right amount of coverage to get?

There’s no easy answer to the question of how much renters insurance coverage you need; it depends on how much stuff you have to cover and what it’s worth. As we discussed above, your policy has a few main categories: Contents/Personal Property (your personal belongings); Loss of Use (temporary living expenses); and then personal liability and medical bills.

You’re able to set the coverage limits for these categories when you sign up for a Lemonade policy. Lower coverage limits might save you a few bucks on your monthly premiums—but they might also leave you with insufficient coverage when you have to make a claim.

You’ll also need to figure out your deductible. It’s a balancing act and one that requires you to think about your property and lifestyle. Take a few minutes to apply to see your renter insurance quote to get a sense of your insurance options. 

Also, if you’ve got valuables that are especially pricey or important—things like engagement rings, fancy cameras, musical instruments, or artworks—you can add ‘scheduled personal property coverage’ for those items. Here’s a bunch more info about how that additional coverage works at Lemonade.

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Please note: Lemonade articles and other editorial content are meant for educational purposes only, and should not be relied upon instead of professional legal, insurance or financial advice. The content of these educational articles does not alter the terms, conditions, exclusions, or limitations of policies issued by Lemonade, which differ according to your state of residence. While we regularly review previously published content to ensure it is accurate and up-to-date, there may be instances in which legal conditions or policy details have changed since publication. Any hypothetical examples used in Lemonade editorial content are purely expositional. Hypothetical examples do not alter or bind Lemonade to any application of your insurance policy to the particular facts and circumstances of any actual claim.