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Maine homeowners insurance: what you need to know

On average, homeowners insurance in Maine costs $961 per year or $80 per month. This is below the national average. The easiest way to find a cheap home insurance policy in Maine is to view prices from multiple companies. 

Unlike car insurance, homeowners insurance isn't priced specifically by state. That said, there are major differences in home insurance rates from state to state. Insurance policy costs in a given state diverge depending on the value and number of homeowners claims filed in the state, and depend on the price of the belongings and home you're insuring.

Find out homeowners insurance costs in Maine by referencing the below data. Remember: your home insurance rates will vary, depending on your coverage limits.

Table of contents:
  1. Rates by company
  2. Rates by coverage amount
  3. Rates by deductible amount
  4. Rates by city
  5. Bundling savings
  6. Frequently asked questions
  7. Natural disaster coverage



The cheapest home insurance companies in Maine

Homeowners insurance rates in Maine can vary depending on the insurance company you choose. MetLife offers the most affordable homeowners insurance in Maine — only $478 each year. This compares favorably to the state mean cost of $961, providing a $483 price cut on average policy costs statewide.

Begin your search for your best-value homeowners insurance policy by reviewing the best Maine home insurance carriers, listed below.

Insurance CompanyAverage Yearly Rate in Maine
Liberty Mutual$530
Patriot Insurance$649

Maine home insurance prices by coverage levels

Your chosen level of homeowners coverage has an impact on the insurance premiums you pay. In Maine, maintaining $100K dwelling coverage costs an average of $450 per year, while carrying dwelling coverage up to $400K costs $1,329/year.

Coverage LevelAverage Annual Cost
$100,000 Dwelling$450
$200,000 Dwelling$677
$250,000 Dwelling$889
$400,000 Dwelling$1,329

Homeowners insurance deductibles in Maine

Among the many options homeowners face when buying homeowners insurance is how high or low to set the deductible. The deductible is the total dollar amount that the insured contributes toward a covered loss. Where you choose to set your homeowners deductible is directly related to the overall cost of your coverage.

A good rule of thumb is: the lower your deductible, the higher your premium. Therefore, consider a higher deductible if you aim to secure lower rates. Bear in mind that your deductible should not be set at an amount that you would have difficulty paying in the event of a loss.

Take a look at may of the normal deductibles offered by insurers and an approximation of average homeowners insurance rates.

Deductible TierAverage Annual Homeowners Insurance Rate


Maine homeowners insurance costs by city

Not all Maine cities have the same home insurance rates. Policy pricing depends on city-specific variables like the number of claims filed in the immediate area, giving your ZIP code weight in deciding how much you pay.

The best home insurance rates in Maine are available in Gorham. The average homeowners insurance policy in Gorham runs only $875 per year — $85 less than the average homeowners policy in other Maine cities. Reference the below table to see the cheapest cities in Maine for home insurance.

CityAverage 12-Month Home Insurance Rate
South Portland$894
Presque Isle$898

Home and auto insurance bundling in Maine

If you want to save on insurance, consider purchasing your homeowners and car insurance policies from the same company. Bundling auto and homeowners insurance in Maine can save you a substantial sum each month on your auto insurance bill. Bundling policies in Maine leads to a yearly discount of $99.


Avg. Annual Rate (No Bundle)

Avg. Annual Rate (w/ Bundle)

Annual Savings ($)

Annual Savings (%)



Maine homeowners insurance FAQs


Can I insure my home for market value in Maine?

Typically homeowners insurance will require you to carry enough insurance for at least 80% of your home's replacement cost, as insurers only use replacement cost valuation if you suffer a covered loss.

Do homeowners insurance policies in Maine cover radon gas?

Homeowners insurance covers against unexpected perils. Although longterm radon gas exposure could be hazardous, it is naturally occuring and is not a sudden event caused by an accident.



Natural disaster coverage in Maine


Does homeowners insurance cover flooding in Maine?

Flood damage — regardless of cause —is not covered by homeowners insurance policies. To insure your home against flood damage in Maine, acquire insurance through FEMA's National Flood Insurance Program (NFIP) or via a private insurer. 

Flood insurance coverage from private companies may vary, but NFIP flood insurance covers:

  • $250,000 for your home’s structure
  • $100,000 for your personal property

If the value of your personal property and home exceeds these limits, consider purchasing a flood insurance policy from our partners at Neptune for additional protection.

Find an affordable homeowners policy in Maine today!

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Ross Martin
Ross MartinManager, Content Quality

As a licensed insurance agent, Ross researches and writes insurance content intended to help users make informed decisions.

Ross's background is in writing and education. He holds a master's degree from Royal Holloway, University of London.

Ross's work has been cited by The New York Times, Investopedia, The Simple DollarThe BalanceCar and Driver and Fox Business. He has been quoted by CNET, I Drive Safely and Kin Insurance

About The Zebra

The Zebra is not an insurance company. We publish data-backed, expert-reviewed resources to help consumers make more informed insurance decisions.

  • The Zebra’s insurance content is written and reviewed for accuracy by licensed insurance agents.

  • The Zebra’s insurance content is not subject to review or alteration by insurance companies or partners.

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  • The auto insurance rates published on The Zebra’s pages are based on a comprehensive analysis of car insurance pricing data, evaluating more than 83 million insurance rates from across the United States.