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The average cost of homeowners insurance in Maine is $1,020 per year, or about $85 per month, according to a NerdWallet analysis. That’s less than the national average of $1,820 per year.
We’ve analyzed rates and companies across the state to find the best homeowners insurance in Maine.
Note: Some insurance companies included in this article may have made changes in their underwriting practices and no longer issue new policies in your state. Even if an insurer serves your state, it may not write policies for all homes in all areas.
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The best homeowners insurance in Maine
If you’re looking to buy homeowners insurance from a well-rated national brand, consider one of these insurers from NerdWallet’s list of the best homeowners insurance companies.
5.0 NerdWallet rating NerdWallet’s ratings are determined by our editorial team. The scoring formula incorporates discounts, coverage options, website transparency, financial strength, complaint data and more. |
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5.0 NerdWallet rating NerdWallet’s ratings are determined by our editorial team. The scoring formula incorporates discounts, coverage options, website transparency, financial strength, complaint data and more. |
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4.5 NerdWallet rating NerdWallet’s ratings are determined by our editorial team. The scoring formula incorporates discounts, coverage options, website transparency, financial strength, complaint data and more. |
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4.5 NerdWallet rating NerdWallet’s ratings are determined by our editorial team. The scoring formula incorporates discounts, coverage options, website transparency, financial strength, complaint data and more. |
More about the best home insurance companies in Maine
See more details about each company to help you decide which one is best for you.
State Farm
5.0
Well-established insurer with a lengthy list of coverage options.
Coverage options
More than average
Discounts
Average set of discounts
NAIC complaints
Fewer than expected
State Farm
5.0
Well-established insurer with a lengthy list of coverage options.
Coverage options
More than average
Discounts
Average set of discounts
NAIC complaints
Fewer than expected
State Farm is a great choice for homeowners who like to work directly with a representative, as the company sells policies through a wide network of agents. And its attention to customer service has paid off; the company has fewer customer complaints to state regulators than expected for a company of its size.
State Farm offers a free Ting device as a perk for home insurance policyholders. Ting is a smart plug that monitors your home’s electrical network to help prevent fires.
![insurance-product-card-logo](https://www.nerdwallet.com/cdn/insurance/logos/chubb.jpeg)
Chubb
5.0
Perks and high coverage limits for affluent homeowners.
Coverage options
About average
Discounts
Great set of discounts
NAIC complaints
Far fewer than expected
![insurance-product-card-logo](https://www.nerdwallet.com/cdn/insurance/logos/chubb.jpeg)
Chubb
5.0
Perks and high coverage limits for affluent homeowners.
Coverage options
About average
Discounts
Great set of discounts
NAIC complaints
Far fewer than expected
Chubb generally serves affluent policyholders with high-value homes, offering lofty coverage limits and plenty of perks. For example, the company covers water damage from backed-up sewers and drains, and pays to bring your home up to the latest building codes during reconstruction after a claim. (Many insurers charge more for these types of coverage.)
Chubb policyholders may also be able to take advantage of the company’s HomeScan service, which uses infrared cameras to look for problems behind the walls of your home.
![insurance-product-card-logo](https://www.nerdwallet.com/cdn-cgi/image/quality=85/cdn/insurance/logos/vermont_mutual.png)
Vermont Mutual
4.5
Regional insurer since 1828, selling homeowners insurance in the Northeast through independent agents.
Coverage options
About average
Discounts
Very few discounts
NAIC complaints
Far fewer than expected
![insurance-product-card-logo](https://www.nerdwallet.com/cdn-cgi/image/quality=85/cdn/insurance/logos/vermont_mutual.png)
Vermont Mutual
4.5
Regional insurer since 1828, selling homeowners insurance in the Northeast through independent agents.
Coverage options
About average
Discounts
Very few discounts
NAIC complaints
Far fewer than expected
Founded in 1828, Vermont Mutual sells homeowners insurance through local independent agents. The company stands out for service, drawing far fewer complaints than expected for an insurer of its size.
You may be able to add coverage for major appliances such as water heaters, laundry machines or solar energy systems. Other endorsements may be available to cover identity theft, damage to underground service lines, backed-up drains and theft of expensive jewelry.
![insurance-product-card-logo](https://www.nerdwallet.com/cdn-cgi/image/quality=85/cdn/insurance/logos/hanover.png)
Hanover
4.5
Best for homeowners looking for many ways to customize their policy.
Coverage options
More than average
Discounts
Average set of discounts
NAIC complaints
Far fewer than expected
![insurance-product-card-logo](https://www.nerdwallet.com/cdn-cgi/image/quality=85/cdn/insurance/logos/hanover.png)
Hanover
4.5
Best for homeowners looking for many ways to customize their policy.
Coverage options
More than average
Discounts
Average set of discounts
NAIC complaints
Far fewer than expected
The Hanover gives homeowners lots of choices. You can opt for an auto/home package, a policy designed for high-value homes or a standalone policy for a standard house. You can further customize your policy with a range of coverage options for things like guaranteed replacement cost coverage, which will pay as much as it takes to rebuild your home after a disaster.
The Hanover sells policies exclusively through local independent agents. That means online quotes aren’t available, but you can get personal service to help you choose the right coverage.
How much does homeowners insurance cost in Maine?
The average annual cost of home insurance in Maine is $1,020. That’s 44% less than the national average of $1,820.
In most U.S. states, including Maine, many insurers use your credit-based insurance score to help set rates. Your insurance score is similar but not identical to your traditional credit score.
In Maine, those with poor credit pay an average of $2,085 per year for homeowners insurance, according to NerdWallet’s rate analysis. That’s 104% more than those with good credit.
Average cost of homeowners insurance in Maine by city
How much you pay for homeowners insurance in Maine depends on where you live. For instance, the average cost of home insurance in Portland is $1,035 per year, while homeowners in Bangor pay $1,000 per year, on average.
The cheapest home insurance in Maine
Here are the insurers we found with average annual rates below the Maine average of $1,020
4.5 NerdWallet rating NerdWallet’s ratings are determined by our editorial team. The scoring formula incorporates discounts, coverage options, website transparency, financial strength, complaint data and more. |
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5.0 NerdWallet rating NerdWallet’s ratings are determined by our editorial team. The scoring formula incorporates discounts, coverage options, website transparency, financial strength, complaint data and more. |
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4.0 NerdWallet rating NerdWallet’s ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more. |
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What to know about Maine homeowners insurance
When shopping for home insurance in Maine, homeowners should consider the risks they could see, including severe winter weather, flooding, coastal storms and wildfire.
Winter weather
Maine’s snowy season can run from October to May, which means heavy snowfall and freezing temperatures. Both of these can spell disaster for homeowners, including roof damage, burst pipes and structural issues caused by the weight of snow and ice.
Homeowners insurance generally covers winter storm-related damages, but some types of winter weather damage may require extra coverage. For instance, you’ll typically need a separate flood insurance policy to cover flood damage caused by snowmelt.
Flooding
Heavy rain or snowmelt can cause flooding across the state of Maine. Significant water damage can result in high repair costs for homeowners, and standard home insurance policies do not cover flooding. As a result, homeowners in flood-prone areas should consider buying separate flood insurance.
To find out your risk, check out the Federal Emergency Management Agency’s flood maps and RiskFactor.com, a website from the nonprofit First Street Foundation. Even if your property is deemed low risk, it may be worthwhile to purchase flood insurance for extra peace of mind.
Remember that while you can purchase flood coverage at any time, there’s typically a 30-day waiting period before the insurance takes effect. Here’s more information about flood insurance and waiting periods.
Hurricanes and coastal storms
Hurricanes are less frequent in Maine than in the more southerly states, but coastal storms of all kinds still damage Maine property. Standard home insurance typically covers damage caused by storms, but read your policy carefully, as you may have separate deductibles for hurricanes and wind.
Hurricane deductibles can be from 1% to 10% of your dwelling coverage, or sometimes they can be a flat fee. For example, your policy may have a $1,000 deductible for most claims and a 2% deductible for hurricane-related claims. If your home has $200,000 of dwelling coverage, you would be responsible for $4,000 before your insurance pays for the rest of the hurricane-related damage.
Remember that you will also need a separate flood insurance policy to protect against flooding due to coastal storms.
Wildfire
Wildfires are common in Maine, especially in wooded and rural areas. While the damage caused by fire is typically covered by standard home insurance, it’s essential to understand the limits of that coverage.
Residents of high-risk areas should read their policies closely to understand any exclusions. Pay particular attention to the dwelling coverage limit, which is how much the insurance company will pay to rebuild your house. Check with your insurer to ensure you have enough coverage to rebuild if necessary.
Maine insurance department
The Maine Bureau of Insurance oversees the state’s insurance industry and maintains a website that provides consumer resources on homeowners insurance.
If you need to file a complaint against your insurer, you can do so online or by mail. Don’t hesitate to contact the bureau with questions or for help with your complaint at 800-300-5000 or [email protected].
Looking for more insurance in Maine?
Is homeowners insurance required in Maine?
Does Maine homeowners insurance cover flooding?
How can I save money on homeowners insurance in Maine?
Amanda Shapland contributed to this story.
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