Homeowners Insurance in Maine

Finding a homeowners insurance policy doesn’t need to be confusing. Compare rates by city and company below.

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How to find cheap insurance for your home in Maine


Homeowners insurance may be optional, but it's important. It helps to protect your belongings in the event your house is damaged. A homeowners policy protects your home and your items in the event of a number of misfortunes, such as fire, theft, vandalism, or wind damage.

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.

The easiest way to find a cheap home insurance policy in Maine is to view prices from multiple companies. Find out homeowners insurance costs in Maine by referencing the below data. Remember: your home insurance rates will vary, depending on your coverage limits.


Maine homeowners insurance:
  1. Homeowners rates by company
  2. Homeowners rates by city
  3. Rates by coverage level
  4. Rates by deductible amount
  5. Bundling home and auto insurance
  6. FAQs

Home insurance prices in Maine by carrier

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 a homeowners insurance policy by reviewing the best Maine home insurance carriers, listed below.


HOME INSURANCE RATES IN MAINE: BY COMPANY
CompanyAverage Annual Rate in Maine
MetLife$478
Liberty$530
Vermont$553
Concord$615
Patriot Insurance$649

Maine home 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.


AFFORDABLE HOMEOWNERS INSURANCE BY CITY IN MAINE
CityAverage Yearly Home Insurance Rate
Gorham$875
Westbrook$889
South Portland$894
Presque Isle$898
Belfast$906

Average home insurance rates in Maine by coverage level

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.


HOMEOWNERS INSURANCE RATES IN MAINE — COMMON COVERAGE TIERS
Coverage LevelAverage Annual Cost
$100,000 Dwelling$450
$200,000 Dwelling$677
$250,000 Dwelling$889
$400,000 Dwelling$1,329

Compare Homeowners Insurance Rates

Home 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.


HOME INSURANCE RATES BY DEDUCTIBLE TIER IN MAINE
Deductible LevelAverage Annual Homeowners Insurance Rate
$500$1,008
$1,000$889
$1,500$845
$2,000$788
$5,000$678

Save by bundling home and auto insurance 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.


HOME AND AUTO INSURANCE BUNDLING SAVINGS IN MAINE
Avg. Annual Auto Insurance Rate (No Bundle)Avg. Annual Auto Insurance Rate (Bundle)Annual Bundle SavingsBundle Savings %
$873$774$9913%

You can save money on insurance by bundling your home and auto policies. Get started today!


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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.

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Ava Lynch LinkedIn

Based in Austin, TX, Ava has been in the insurance industry as a licensed agent for 4-plus years. Ava is currently one of The Zebra’s resident property insurance experts and has been featured in publications such as US News Report, GasBuddy, and Yahoo! Finance.