HomeInsuranceQts

Home Insurance in Hancock, Maryland

With a median home value of $190,900, Hancock is 36% lower than the Washington County median.

Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. The typical home in Hancock was built around 1959. About 52% of homes were built before 1960, about 18 points above Washington County's 34%.

In Hancock, the housing stock is 69% single-family homes, 10% apartments in buildings with 5+ units and 5% 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.

71% of owner-occupied homes in Hancock carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.

Hancock has an owner-occupancy rate of 58% and a vacancy rate of 14%; unoccupied homes typically need a different coverage form.

Homes heated with propane and fuel oil can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies. In Hancock, 64% of homes are primarily heated with electricity.

FEMA rates Washington County's overall risk as Relatively Low, led by hurricane (Relatively Moderate). Washington County had 301 active NFIP flood policies as of September 2026. See the full Washington County home insurance overview for all FEMA hazard ratings and flood coverage details.

The statewide average premium for a standard HO-3 homeowners policy in Maryland is $1,578 per year, according to the NAIC homeowners insurance report (2023 data).

Key figures

Median home value$190,900
Median year built1959
Owner-occupied share58%
Share of owner-occupied homes with a mortgage71%
Top county hazardHurricane (Relatively Moderate)
Active NFIP policies in Washington County301
Home insurance premium$1,578 - statewide average (NAIC, 2023 data)
Key home insurance figures for Hancock, MD

Nearby towns

Sources

Data last updated: 2026-09-29