Home Insurance in Allegany County, Maryland
The median home value in Allegany County is $154,900, 63% lower than the Maryland median.
Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild. The typical home in Allegany County was built around 1959. About 51% of homes were built before 1960, about 25 points above Maryland's 26%.
The housing stock in Allegany County is 77% single-family homes, 11% apartments in buildings with 5+ units and 4% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
About 52% of owner-occupied homes in Allegany County have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
The vacancy rate is 16%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 71% of occupied homes in Allegany County are owner-occupied.
In Allegany County, 50% of homes are primarily heated with natural gas. Homes heated with fuel oil can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
The top hazards for Allegany County, per FEMA's National Risk Index, are strong wind (Relatively Moderate), inland flooding (Relatively Moderate) and winter weather (Relatively Moderate).
As of September 2026, Allegany County has 161 active NFIP flood insurance policies. Standard homeowners insurance does not cover flood damage, so flood coverage needs a separate NFIP or private flood policy.
According to the NAIC homeowners insurance report (2023 data), a standard HO-3 homeowners policy in Maryland carries a statewide average premium of $1,578 per year.
Key figures
| Median home value | $154,900 |
|---|---|
| Median year built | 1959 |
| Owner-occupied share | 71% |
| Share of owner-occupied homes with a mortgage | 52% |
| Top hazards (FEMA National Risk Index) | Strong Wind (Relatively Moderate), Inland Flooding (Relatively Moderate), Winter Weather (Relatively Moderate) |
| Active NFIP flood policies (county) | 161 |
| Home insurance premium | $1,578 - statewide average (NAIC, 2023 data) |
Towns and cities
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)