Home Insurance in Princess Anne, Maryland
Homes in Princess Anne carry a median value of $231,900 - 34% higher than the Somerset County median.
The typical home in Princess Anne was built around 2000. About 7% of homes were built before 1960, about 18 points below Somerset County's 24%. Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild.
In Princess Anne, the housing stock is 47% single-family homes, 36% apartments in buildings with 5+ units and 4% mobile or manufactured homes. The rest are 2-4 unit or other housing types. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
68% of owner-occupied homes in Princess Anne carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
The vacancy rate is 30%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 43% of occupied homes in Princess Anne are owner-occupied.
70% of homes in Princess Anne are primarily heated with electricity. Homes heated with propane can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
Somerset County's top FEMA-rated hazard is coastal flooding (Relatively High), per FEMA's National Risk Index. Somerset County had 1,860 active NFIP flood policies as of September 2026. See the full Somerset County home insurance overview for all FEMA hazard ratings and flood coverage details. Flood damage is excluded from a standard homeowners policy.
In Maryland, the statewide average premium for a standard HO-3 homeowners policy is $1,578 per year (NAIC, 2023 data).
Key figures
| Median home value | $231,900 |
|---|---|
| Median year built | 2000 |
| Owner-occupied share | 43% |
| Share of owner-occupied homes with a mortgage | 68% |
| Top county hazard | Coastal Flooding (Relatively High) |
| Active NFIP policies in Somerset County | 1,860 |
| Home insurance premium | $1,578 - statewide average (NAIC, 2023 data) |
Nearby towns
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)