The Best Home Insurance in Maine for 2023

We analyzed the cheapest rates and top companies for homeowners insurance in Maine.
Sarah Schlichter
Kayda Norman
By Kayda Norman and  Sarah Schlichter 
Published
Edited by Caitlin Constantine

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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.

Our writers and editors follow strict editorial guidelines to ensure fairness and accuracy in our writing and data analyses. You can trust the prices we show you because our data analysts take rigorous measures to eliminate inaccuracies in pricing data and may update rates for accuracy as new information becomes available.

We include rates from every locale in the country where coverage is offered and data is available. When comparing rates for different coverage amounts and backgrounds, we change only one variable at a time, so you can easily see how each factor affects pricing.

Our sample homeowner had good credit, $300,000 of dwelling coverage, $300,000 of liability coverage and a $1,000 deductible.

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.

Company

NerdWallet star rating

Average annual rate

5.0

NerdWallet rating 

$570

5.0

NerdWallet rating 

$1,525

Vermont Mutual

4.5

NerdWallet rating 

$555

4.5

NerdWallet rating 

$1,255

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.

insurance-product-card-logo

State Farm

5.0

NerdWallet rating 
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
insurance-product-card-logo

State Farm

5.0

NerdWallet rating 
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

Chubb

5.0

NerdWallet rating 
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

Chubb

5.0

NerdWallet rating 
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

Vermont Mutual

4.5

NerdWallet rating 
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

Vermont Mutual

4.5

NerdWallet rating 
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

Hanover

4.5

NerdWallet rating 
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

Hanover

4.5

NerdWallet rating 
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.

City

Average annual rate

Average monthly rate

Auburn

$990

$83

Augusta

$995

$83

Bangor

$1,000

$83

Biddeford

$1,030

$86

Brunswick

$1,025

$85

Gorham

$975

$81

Lewiston

$1,010

$84

Portland

$1,035

$86

Saco

$1,035

$86

Sanford

$1,020

$85

Scarborough

$985

$82

South Portland

$990

$83

Waterville

$1,000

$83

Westbrook

$985

$82

Windham

$980

$82

The cheapest home insurance in Maine

Here are the insurers we found with average annual rates below the Maine average of $1,020

Company

NerdWallet star rating

Average annual rate

Vermont Mutual

4.5

NerdWallet rating 

$555

5.0

NerdWallet rating 

$570

Concord Group

4.0

NerdWallet rating 

$635

Union Mutual

Not rated

$660

Patriot Insurance

Not rated

$985

Patrons Oxford

Not rated

$1,010

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?

Frequently asked questions

Homeowners insurance is not required by Maine state law. However, your lender may require you to purchase homeowners insurance. For more information, read Is Homeowners Insurance Required?

Flooding is not covered under standard Maine homeowners insurance. You will want to purchase a separate flood policy if you live in a high-risk area.

There are several ways to save money on home insurance in Maine:

  • Shop around to make sure you’re getting the best rate.

  • Choose a higher deductible. In case of any claims, you’ll pay more out of pocket, but your premiums will be lower.

  • Bundle your home and auto insurance for a lower overall rate. See the best home and auto insurance bundles.

  • Ask your insurer if you qualify for any home insurance discounts.

Amanda Shapland contributed to this story.

Methodology

NerdWallet averaged rates for 40-year-old homeowners from various insurance companies in every ZIP code across the state. All rates are rounded to the nearest $5.

Sample homeowners were nonsmokers with good credit living in a single-family, two-story home built in 1984. They had a $1,000 deductible and the following coverage limits:

  • $300,000 in dwelling coverage.

  • $30,000 in other structures coverage.

  • $150,000 in personal property coverage.

  • $60,000 in loss of use coverage.

  • $300,000 in liability coverage.

  • $1,000 in medical payments coverage.

We made minor changes to the sample policy in cases where rates for the above coverage limits or deductibles weren’t available.

We changed the credit tier from “good” to “poor,” as reported to the insurer, to see rates for homeowners with poor credit.

These are sample rates generated through Quadrant Information Services. Your own rates will be different.

Star rating methodology

NerdWallet’s homeowners insurance ratings reward companies for customer-first features and practices. Ratings are based on weighted averages of scores in several categories, including financial strength, consumer complaints, coverages, discounts and online experience. These ratings are a guide, but we encourage you to shop around and compare several insurance quotes to find the best rate for you. NerdWallet does not receive compensation for any reviews. Read our full homeowners insurance rating methodology.

Complaint methodology

NerdWallet examined complaints received by state insurance regulators and reported to the National Association of Insurance Commissioners in 2019-2021. To assess how insurers compare with one another, the NAIC calculates a complaint index each year for each subsidiary, measuring its share of total complaints relative to its size, or share of total premiums in the industry. To evaluate a company’s complaint history, NerdWallet calculated a similar index for each insurer, weighted by market shares of each subsidiary, over the three-year period. NerdWallet conducts its data analysis and reaches conclusions independently and without the endorsement of the NAIC. Ratios are determined separately for auto, home (including renters and condo) and life insurance.

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