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!
| Company | Rank |
|---|---|
| State Farm | 1 |
| Liberty Mutual | 2 |
| MetLife Inc. | 3 |
| Hartford | 4 |
| Farmers Insurance | 5 |
| American International | 6 |
| Nationwide | 7 |
| Allstate Corp. | 8 |
| Chubb | 9 |
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.
| Company | Home Owners Offered |
|---|---|
| Travelers | yes |
| USAA | yes |
| Allstate Corp. | yes |
| American Family | yes |
| Progressive | yes |
| American International | yes |
| State Farm | yes |
| Liberty Mutual | yes |
| Nationwide | yes |
| Chubb | yes |
| Farmers Insurance | yes |
| Hartford | yes |
| Auto-Owners | yes |
| MetLife Inc. | yes |
Do You Know What Your Coverages Mean? Check out our handy homeowners insurance cheat cheat!
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!
| City | Price |
|---|---|
| Hermon | Allstate |
| North Berwick | NationWide |
| Saco | NationWide |
| Kennebunk | NationWide |
| Lisbon | Chub |
| Buxton | USAA |
| Standish | Progressive (ASI) |
| Old Town | USAA |
| Brewer | Travelers |
| Gray | USAA |
| Farmington | Amica |
| Caribou | Progressive (ASI) |
| Lincoln town | State Farm |
| Rockland | Progressive (ASI) |
| Rumford | American Family |
| Winslow | USAA |
| Topsham | Allstate |
| Lewiston | Liberty Mutual |
| South Portland | Travelers |
| Paris | Progressive |
| South Berwick | Progressive (ASI) |
| Cumberland | Progressive (ASI) |
| Bath | Allstate |
| Winthrop | State Farm |
| Freeport | Progressive |
| Waterville | Progressive |
| Eliot | Progressive (ASI) |
| Waterboro | Chub |
| Berwick | Chub |
| Ellsworth | Allstate |
| Harpswell | Travelers |
| Norway | State Farm |
| Oakland | Progressive |
| Westbrook | Travelers |
| Orono | Amica |
| Bridgton | Travelers |
| Auburn | Progressive |
| Kittery | Farmers |
| Glenburn | Farmers |
| New Gloucester | Chub |
| Biddeford | NationWide |
| Belfast | Progressive (ASI) |
| Fairfield | Progressive (ASI) |
| Yarmouth | NationWide |
| Bangor | Travelers |
| Scarborough | American Family |
| Lebanon | USAA |
| Sanford | Travelers |
| Presque Isle | Liberty Mutual |
| Poland | Amica |
| Warren | State Farm |
| Skowhegan | NationWide |
| Waldoboro | Amica |
| Cape Elizabeth | Liberty Mutual |
| Augusta | State Farm |
| Falmouth | Progressive (ASI) |
| Wells | Progressive |
| Gorham | American Family |
| Sabattus | Progressive |
| Bar Harbor | Progressive (ASI) |
| Bucksport | Travelers |
Most common Causes for Homeowners Loss and claims (nationwide)
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.
| Company | Home 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.
| City | Price |
|---|---|
| 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
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.
No Longer In Need of Maine Homeowners Insurance? Check out other State Guides
Ready to Bundle Your Maine Homeowners Insurance?
Last Updated on by Alexis Karapiperis