Maine Homeowners Insurance

Maine Homeowners Insurance
Portland Head Lighthouse is a historic lighthouse in Cape Elizabeth, Maine. The light station is automated, and the tower, beacon, and foghorn are maintained by the United States Coast Guard. The light station sits on a head of land at the entrance of the primary shipping channel into Portland Harbor, which is within Casco Bay in the Gulf of Maine.
HOMEOWNERS – INSURANCE

Maine Homeowners Insurance

Maine’s long rocky Atlantic Coast is known for its frigid waters and an ample fishery – most famed for the Maine lobster. We’ll catch you, not a lobster, but a great insurance rate. Typically the average cost for home insurance in Maine is about 37% cheaper than the national average depending on the dwelling coverage you obtain for your home. Interesting fact about Maine is that is has a peak named after a car as well, Cadillac Mountian.

Maine Homeowners Insurance: Who has the Lowest price?

Just because you want the best coverages for you home, doesn’t mean you want to pay a whole lot. Based off of national averages Maine is on the less expensive side when it will come to your yearly premium. In comparison, here are some companies that have the best and lowest prices on Homeowners Insurance in Maine!

CompanyRank
State Farm1
Liberty Mutual2
MetLife Inc.3
Hartford4
Farmers Insurance5
American International6
Nationwide7
Allstate Corp.8
Chubb9

Maine Homeowners Insurance: Which companies offer it?

Not all auto insurance companies offer homeowners insurance, and not all homeowners insurance will cover you depending on several rating factors.

That’s why it’s crucial to speak with an agent so that they can assist you and help you find someone who can cover your assets.

Did you just purchase a home in Maine? Well lucky for you we made it easy for you and listed a few companies that offer Homeowners there. All of these companies, also in comparison above are competitive as well in your state.

CompanyHome Owners Offered
Travelersyes
USAAyes
Allstate Corp.yes
American Familyyes
Progressiveyes
American Internationalyes
State Farmyes
Liberty Mutualyes
Nationwideyes
Chubbyes
Farmers Insuranceyes
Hartfordyes
Auto-Ownersyes
MetLife Inc.yes
Homeowners Insurance Coverage Explained

Rating factors for Maine Homeowners Insurance

Wonder what kind of questions or factors affect your homeowners insurance rates?

Huge rating factors for insurance rates in Maine will be the age of the dwelling, type of construction, where your home is located and if you have had any claims yourself in the last 5 years.

Here are some common factors that determine what your rate could look like.

Maine Homeowners Insurance Rating Factors
Home-based business
Home liability limits
Marital status
Wood-burning stoves
Deductible
Protection Class Proximity to fire station
Insurance score
Claims
Location
Swimming pool or hot tub
Age of Home
Upgrades to Wiring plumbing
Dog breed

Cheapest Home Owners insurance by city in Maine

When shopping for a home, it is always good to check surrounding towns or cities and compare prices to make sure you are truly getting what you deserve as well as a decent monthly premium.

“In between cities'” rates for insurance can vary as well as the dwelling coverage for homes.

We wanted to help you see who has the cheapest Homeowners insurance rates in each city in Maine. Check out your city and see who it is!

CityPrice
HermonAllstate
North BerwickNationWide
SacoNationWide
KennebunkNationWide
LisbonChub
BuxtonUSAA
StandishProgressive (ASI)
Old TownUSAA
BrewerTravelers
GrayUSAA
FarmingtonAmica
CaribouProgressive (ASI)
Lincoln townState Farm
RocklandProgressive (ASI)
RumfordAmerican Family
WinslowUSAA
TopshamAllstate
LewistonLiberty Mutual
South PortlandTravelers
ParisProgressive
South BerwickProgressive (ASI)
CumberlandProgressive (ASI)
BathAllstate
WinthropState Farm
FreeportProgressive
WatervilleProgressive
EliotProgressive (ASI)
WaterboroChub
BerwickChub
EllsworthAllstate
HarpswellTravelers
NorwayState Farm
OaklandProgressive
WestbrookTravelers
OronoAmica
BridgtonTravelers
AuburnProgressive
KitteryFarmers
GlenburnFarmers
New GloucesterChub
BiddefordNationWide
BelfastProgressive (ASI)
FairfieldProgressive (ASI)
YarmouthNationWide
BangorTravelers
ScarboroughAmerican Family
LebanonUSAA
SanfordTravelers
Presque IsleLiberty Mutual
PolandAmica
WarrenState Farm
SkowheganNationWide
WaldoboroAmica
Cape ElizabethLiberty Mutual
AugustaState Farm
FalmouthProgressive (ASI)
WellsProgressive
GorhamAmerican Family
SabattusProgressive
Bar HarborProgressive (ASI)
BucksportTravelers

Most common Causes for Homeowners Loss and claims (nationwide)

Maine Home Owners Insurance

Maine has a very mild, wet season with growing precipitation all year round.

Come winter, you start to experience freezing rains and heavy snowfall. With these factors, even the weather can cause a loss to the home.

By having homeowners insurance you are protecting yourself from the unexpected and expected risks involved with owning a home.

There are so many things that can cause a loss to your home, so it’s good to be protected!

Theft
Water Damage
Other Weather related
Loss of Use
Injuries
Power surge
Lightning
Wind
Fire
Hail
Vandalism

Discounts available for Maine Homeowners Insurance

Everyone wants discounts where they can get them! Did you know that there are numerous ways you can get discounts on your homeowners insurance?

Huge discounts can be applied when you bundle your home and auto insurance. Below there are some of many discounts we look at applying.

Maine Homeowners Insurance Discounts
Loyalty
Married Discount
Bundling Multiple Polices
Non-smoking discount
Claims Free
Upgraded Plumbing
Auto Water Shut-off or Leak Detection System
Paid-in-full
Smoke detector (monitored)
New Home Discount – New Purchase Discount
Upgraded Wiring
Hail Resistant Roof
Gated Community
Home Monitoring / Burglar Smart-System

Maine Homeowners Insurance Rates (by company)

Homeowners rates can be different by city, state and company. It is always good to make sure to shop to find the best insurance for your needs. Here are some companies with great AM ratings, check them out to see some rates!

As mentioned repeatedly, you don’t want to count out any of the companies listed because even if they charge one person a certain amount, it doesn’t mean you will be paying the same thing.

CompanyHome Owners ($250,000)
Travelers Companies Inc.$1,489
USAA$1,342
Chubb$1,380
Auto-Owners Insurance$1,402
Allstate$1,305
American International$1,370
American Family Insurance$1,287
MetLife Inc.$1,378
Liberty Mutual$1,420
Erie Insurance$1,393
State Farm$1,445
Nationwide Mutual$1,296
Hartford Financial Services$1,479
Progressive$1,386

Average Cost for Maine Homeowners Insurance (by city)

City and zip code have a big impact on your homeowners insurance rates. This is because certain areas might be prone to more risk than others.

For example, if your location is located in a place noted for it’s high winds or forest fires, you could end up paying more. The insurance company might not even cover you, so always call around to see if that is the case.

Here’s what you can expect as an average cost for your home owners insurance rates for the city your home is in.

CityPrice
Bath$1,105.00
Jay$1,231.00
New Gloucester$1,285.00
Oakland$1,281.00
Sanford$1,104.00
Lebanon$1,326.00
Winslow$1,330.00
Wells$1,206.00
Gray$1,370.00
Biddeford$1,320.00
Brunswick$1,425.00
Fairfield$1,349.00
Hermon$1,330.00
Farmington$1,289.00
Waldoboro$1,108.00
Bucksport$1,235.00
Norway$1,258.00
Houlton$1,415.00
Brewer$1,368.00
Hollis$1,293.00
Sabattus$1,392.00
Turner$1,199.00
Madison$1,147.00
Saco$1,345.00
Skowhegan$1,396.00
Orono$1,191.00
Belfast$1,156.00
Yarmouth$1,326.00
Buxton$1,149.00
Lisbon$1,395.00
Old Orchard Beach$1,415.00
Rumford$1,405.00
Old Town$1,196.00
Kennebunk$1,200.00
Bar Harbor$1,263.00
Glenburn$1,122.00
Falmouth$1,158.00
Caribou$1,336.00
Freeport$1,203.00
Cumberland$1,206.00
Poland$1,305.00
Berwick$1,301.00
South Berwick$1,294.00
Cape Elizabeth$1,298.00
Ellsworth$1,364.00
Paris$1,376.00
Topsham$1,316.00
Waterville$1,114.00
Harpswell$1,313.00
Warren$1,308.00
Bangor$1,371.00
Winthrop$1,115.00
Kittery$1,415.00
Portland$1,425.00
North Berwick$1,317.00
Bridgton$1,329.00
Windham$1,340.00
Scarborough$1,299.00
Raymond$1,319.00
South Portland$1,391.00
Augusta$1,201.00
Gorham$1,415.00
Hampden$1,189.00
Westbrook$1,125.00
Lincoln town$1,174.00
Camden$1,190.00
Waterboro$1,173.00

Maine Homeowners Insurance: Frequently Asked Questions

Maine Homeowners Insurance
Portland Head Lighthouse is a historic lighthouse in Cape Elizabeth, Maine. The light station is automated, and the tower, beacon, and foghorn are maintained by the United States Coast Guard. The light station sits on a head of land at the entrance of the primary shipping channel into Portland Harbor, which is within Casco Bay in the Gulf of Maine.

Is Homeowners Insurance required in Maine?

The state of Maine does not require that you purchase homeowners insurance. However, if you have a mortgage on your home, they will typically require that you have insurance.

Why is Homeowner’s Insurance so expensive in Maine?

Many parts of Maine may be at risk than others for rain, blizzards, high winds and wildfires. These ares will typically be more expensive than other areas of main due to the natural disasters of the state.

How long does an insurance company have to pay a claim in Maine?

Within 15 days of receiving all the necessary paperwork, insurance companies must accept or deny the claim. The state allows insurers 45 more days to decide on a claim, but they must inform you in writing. Once the insurer agrees to pay the claim, it must be done within 5 days.

Do You Need Flood Insurance?

Insurance varies greatly from state to state. Click on your state to find out more specifics about homeowners insurance.

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Last Updated on April 26, 2022 by Veronica Moss