The Best Home Insurance in Maine for 2024
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The average cost of homeowners insurance in Maine is $1,075 per year, or about $90 per month, according to a NerdWallet analysis. For comparison, the national average is $1,915 per year.
NerdWallet analyzed data from numerous insurance companies to help you find the best home insurance in Maine in the following categories:
Best for affordability: State Farm.
Best for coverage: The Andover Companies and Openly.
Best for consumer experience: Nationwide.
The rates in our analysis are estimates based on many factors, so your rate may differ.
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.
Best affordable homeowners insurance in Maine: State Farm
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State Farm
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In Maine, the average annual premium for State Farm is $735, which is well below the state average of $1,075.
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.
Learn more with our State Farm homeowners insurance review.
Best homeowners insurance in Maine for coverage: The Andover Companies and Openly
Andover Companies
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Andover Companies
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The Andover Companies’ home insurance policies generally come with broader coverage for your belongings and more coverage for the structure of your home than a standard homeowners policy provides. (Note that most but not all homes qualify for this coverage.)
Most Andover policies also include a generous amount of ordinance or law coverage, which pays to upgrade your home up to current building codes during repairs after a covered claim.
Get more information in our Andover homeowners insurance review.
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Openly
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Openly offers homeowners insurance with generous coverage. Its policies include guaranteed replacement cost coverage for the structure of your home, which means the company will pay whatever it takes to rebuild your home if it’s destroyed.
Unlike many other insurers, Openly doesn’t have dog breed restrictions that could affect your ability to get liability coverage. It may also be a good bet for homeowners with collections of jewelry or other valuables, with up to $100,000 of blanket coverage available for these items.
Learn more with our Openly home insurance review.
Best homeowners insurance in Maine for consumer experience: Nationwide
Nationwide
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Nationwide
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Nationwide offers a robust digital experience for its customers, including a website that makes it easy to manage policies, file and track claims, and set up automatic billing. It also has a highly rated app for Android and iOS that allows customers to file and track claims, review policy documents, and set up autopay.
In addition, Nationwide’s customers have several ways to get assistance, such as reaching out to their agent or calling the company’s customer service hotline. Outside of business hours, they can use the Nationwide website to get proof of insurance, pay bills and schedule callbacks. A chatbot is also available to answer basic questions.
Learn more with our Nationwide homeowners insurance review.
Full list of the best homeowners insurance in Maine
NerdWallet analyzed home insurance companies across the state to find the best home insurance in Maine. Here are all of the insurers that received a NerdWallet star rating of 4.5 or higher:
Company | NerdWallet star rating | Average annual rate |
|---|---|---|
Not available | ||
Not available | ||
Not available | ||
Not available | ||
$795 | ||
$1,715 | ||
$1,275 | ||
Not available | ||
Not available | ||
$735 | ||
$875 | ||
USAA* | Not available | |
*USAA homeowners policies are available only to active military, veterans and their families. | ||
How much does homeowners insurance cost in Maine?
The average annual cost of home insurance in Maine is $1,075. That’s 44% less than the national average of $1,915.
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 $2,075 per year for homeowners insurance, according to NerdWallet’s rate analysis. That’s 93% 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 $1,075 per year, while homeowners in Bangor pay $1,015 per year, on average.
City | Average annual rate | Average monthly rate |
|---|---|---|
Auburn | $1,170 | $98 |
Augusta | $1,215 | $101 |
Bangor | $1,015 | $85 |
Bath | $1,160 | $97 |
Biddeford | $1,200 | $100 |
Brunswick | $1,245 | $104 |
Ellsworth | $1,075 | $90 |
Falmouth | $930 | $78 |
Gardiner | $1,300 | $108 |
Gorham | $930 | $78 |
Houlton | $1,075 | $90 |
Kennebunk | $975 | $81 |
Lewiston | $1,120 | $93 |
Orono | $1,215 | $101 |
Portland | $1,075 | $90 |
Saco | $930 | $78 |
Sanford | $1,035 | $86 |
Scarborough | $1,275 | $106 |
Skowhegan | $1,315 | $110 |
South Portland | $1,140 | $95 |
Waterville | $1,170 | $98 |
Wells | $975 | $81 |
Westbrook | $960 | $80 |
Windham | $925 | $77 |
York | $930 | $78 |
The cheapest home insurance in Maine
Here are the insurers we found with average annual rates below the Maine average of $1,075.
Company | NerdWallet star rating | Average annual rate |
|---|---|---|
Vermont Mutual | $605 | |
$735 | ||
$795 | ||
$875 |
What to know about Maine homeowners insurance
You may face certain risks when living in Maine. Here are a few of the most common, along with steps you can take to insure your home properly against them.
Winter weather
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
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
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
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].
Amanda Shapland contributed to this story.
NerdWallet calculated median 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 2020-2022. 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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