Is Baltimore Equitable Insurance a legitimate insurance company?
Yes, we are a state and federally regulated homeowners insurance company providing the same reliable coverage as a conventional homeowners insurance company. The difference is that every dollar you spend on coverage is still yours. It almost seems too good to be true, but the reality is that we have provided 100% refundable homeowners insurance for more than 230 years. Instead of paying annual premiums, you make a deposit that is returned to you when you no longer need your policy. Your home, condo or apartment is still protected from loss or damage. Learn more about how 100% refundable insurance works.
Who regulates Baltimore Equitable Insurance?
The Maryland Insurance Administration, Pennsylvania Insurance Department, and AM Best (a national rating organization) conduct an annual review. They assess our company’s financial stability and ensure we have sufficient funds to cover losses and refund all deposits. Currently, we have enough to refund every deposit more than three times over.
What is AM Best, and what is Baltimore Equitable Insurance’s rating?
Since 1899, AM Best has measured the financial health of insurance companies. AM Best evaluates a company’s financial strength, creditworthiness, profitability, and other areas of corporate function. As of June 1, 2026, Baltimore Equitable Insurance’s rating was A- (Excellent) with a Stable outlook.
Is refundable homeowner’s insurance safe?
Homeowners have counted on 100% refundable insurance policies from Baltimore Equitable Insurance since 1794. Throughout our country’s economic ups and downs of the past 230+ years, Baltimore Equitable Insurance has remained strong.
How does Baltimore Equitable make sure it can refund every deposit?
Independent annual reviews by the Maryland Insurance Administration, Pennsylvania Insurance Department, and AM Best assess financial stability and confirm sufficient funds to cover losses and refund all deposits. Our assets are valued at more than three times the total amount needed to return every customer deposit in full.
How long has Baltimore Equitable Insurance been in business?
Baltimore Equitable Insurance was founded in 1794 — even before Baltimore was officially recognized as a city. Known then as the Baltimore Equitable Society for Insuring Houses from Loss by Fire, the first deposit was made by Humphrey Pierce for 7 pounds & 10 schillings to insure his three-story brick home on Baltimore Street. Since then, we have built a reputation through word of mouth, growing stronger for more than 230 years and counting. You can read Baltimore Equitable Insurance reviews here.
Why haven’t I heard of Baltimore Equitable Insurance before?
Although our company was founded more than 230 years ago, it’s still a well-kept secret — often shared by word of mouth among family members and friends. Now that you’ve heard about us, we can share with you everything that makes a 100% refundable homeowners policy from Baltimore Equitable Insurance a savvy alternative to a premium-based policy.
Has the company been tested by hard times?
Yes, it certainly has. Despite major events like the Great Baltimore Fire of 1904, the Great Depression, the Baltimore Riot of 1968, and the financial crisis of 2008, our company is as strong today as it has been throughout our history. Learn more about how we have persevered:
Great Baltimore Fire of 1904
Fire raged in Baltimore for over 30 hours, fueled in part by strong winds, destroying over 80 blocks in the downtown area. More than 1,500 buildings were destroyed and another 1,000 damaged. Baltimore Equitable Insurance sustained 445 claims and paid out over $1.9 million in losses (nearly $55 million in today’s dollars). Despite the large number of losses, the company continued to operate while the city rebuilt.
The Great Depression
Stock prices began falling in September and early October of 1929, resulting in a mass panic by investors and a stock market crash. By 1932, 15 million people, more than 20% of the U.S. population, were unemployed. Thousands of banks closed, taking with them any money that individuals had deposited. Baltimore Equitable continued to operate and survive the Great Depression. The company’s surplus remained intact, investments remained secure, and assets grew by 23%.
Baltimore Riot of 1968
Across the nation, cities grieved the assassination of Dr. Martin Luther King, Jr. A peaceful gathering of approximately 300 people to memorialize the Civil Rights Leader lasted until 2:00 pm without incident. Afterward, a crowd formed on Gay St. in East Baltimore and by 5:00 pm reports of vandalism and fires were received, marking the beginning of the Baltimore Riot. A state of emergency was declared.
By April 7, federal troops were requested after it was determined the National Guard and police force were unable to contain the uprising. The riot ended on April 14, resulting in six deaths, 700 injured, 5,800 arrested and 1,000 businesses damaged. Total property damage was assessed at $12 million (equivalent to $77.5 million today).
After the unrest, some insurance companies refused to cover properties located inside the city limits, but Baltimore Equitable continued to insure homes throughout Maryland, including Baltimore City.
September 29, 2008 Stock Market Crash
The Dow Jones fell more than 777 points because Congress rejected a bank bail-out bill. Baltimore Equitable Insurance’s portfolio value decreased—like many other insurance companies—but this decrease did not affect the servicing of our clients, the operation of our business, or the protection of the policyholders’ deposits in any way. Baltimore Equitable Insurance’s portfolio fully recovered to its former valuation by December 2010, due in part to its careful, well-managed investments in stable companies.
How long do policyholders typically stay?
The average policyholder stays with us for more than 20 years, typically canceling their policy when they sell their home — and often purchasing a new policy at their next home. Renters can also end their policy when they move and initiate a new one at their next residence. Each policyholder is a carefully chosen partner in our shared success and a valued member of our organization. We do not offer commercial policies.
Is my deposit safe if I never file a claim?
Yes, your deposit is safe if you never make a claim and if it sits for the duration of your policy. That inactivity does not result in a reduction in the deposit amount or trigger any fees for maintaining your policy. Likewise, your deposit will never be reduced if you make a claim. Your deposit is 100% yours.
How can I verify any of this information myself?
Verifying this information is as easy as reviewing our Annual Statement summaries found at Why Choose Us. You can learn more about our financial strength here.