Best Maine Homeowners Insurance Quotes (2025)

The average cost of home insurance in Maine is $1,434 per year for a policy with a $1,000 deductible and $300,000 in dwelling coverage, which is much lower than the national average of $2,532.

Flooding is one of the main concerns for homeowners in the Pine Tree State because the state often experiences heavy rain and is home to five major rivers and hundreds of miles of coastline.1

You should always compare home insurance quotes from at least three Maine homeowners insurance companies before choosing a policy. Here’s what you need to know about finding home coverage in Maine.

Best home insurance companies in Maine

You have dozens of great options for home insurance in Maine, so you should remember that the best companies for you won’t always be the cheapest options. The best homeowners insurance companies have reasonable rates, extensive coverage options, and reliable customer service. You want a company that you can trust to protect your family and personal property — not just the one with the cheapest rates.

Check out the insurers below to start your search. Each is the best insurer for a specific category in Maine. The average premiums below reflect costs for a $300,000 dwelling coverage policy with a $1,000 deductible.

Cheapest rates: Vermont Mutual

Best insurer for policy management: Concord Group

Best insurer for customer service: State Farm

Best insurer for discounts: Travelers

Cheapest home insurance in Maine

Travelers has the cheapest home insurance in Maine, with an average rate of only $74 per month. Maine home insurance rates can vary significantly by insurer because each company determines your policy’s price differently.

The table below shows some of the other cheap home insurance costs from top companies in Maine. The average premiums below are for policies with $300,000 in dwelling coverage and a $1,000 deductible.

Cost of homeowners insurance in Maine

The average cost of homeowners insurance in Maine is $1,434 per year for a $1,000 deductible policy with dwelling coverage of $300,000. But your average rate depends on your location, how much coverage you purchase, and the insurance company you buy coverage from. The higher the coverage limits you select, the more you’ll pay in premiums.

Some other major factors that affect your premium include your home’s structure, age, size, local building costs, your deductible, ZIP code, and even your credit history. Older homes are typically more expensive to insure since they’re a greater liability than newer homes.

Cost of homeowners insurance by dwelling coverage amount

Your dwelling coverage amount has a significant effect on how much you pay for your Maine home insurance policy. Dwelling coverage is the most vital part of homeowners insurance, covering property damage after a covered loss, such as a snowstorm. The higher your dwelling coverage amounts are, the higher your premium will be.

Check out just how much your premium can increase when you pick higher dwelling coverage limits for your house. The average annual premiums below are for homeowners policies with a $1,000 deductible.

Cost of homeowners insurance by deductible

Your home insurance deductible is how much you’ll pay out of pocket for damages before your home insurance coverage starts to cover costs. Home insurance deductibles generally range between $500 and $2,000, and the amount you choose will affect your premium. The higher your deductible is, the lower your premium, and vice versa.

See how your premium for a policy with $300,000 in dwelling coverage can change based on your deductible in the table below.

How to get cheap homeowners insurance in Maine

You can get cheap homeowners insurance in Maine in multiple ways, including:

• Compare home insurance quotes. Before buying a policy, compare quotes from multiple companies. This is the best way to save money on homeowners insurance because each insurer weighs rating factors differently.

• Apply for discounts. Discounts are a great way to save money on your Maine homeowners insurance policy. Most insurance companies offer numerous discounts — just ask your insurer for the information. For example, bundling your home insurance with your auto insurance is a common discount that can save you a percentage on coverage.

• Increase your deductible. Raising your deductible lowers your monthly premiums, but you’ll have to pay more out of pocket after a claim. Be sure that you can afford to pay a higher deductible before increasing it.

• Improve your credit. Improving your credit score can lower your home insurance premiums, as insurers consider your credit history when determining insurance rates. A higher credit score indicates a lower likelihood of filing a claim, so you’ll pay cheaper premiums than homeowners with bad credit.4

How much homeowners insurance do you need in Maine?

The state of Maine doesn’t require homeowners to have home insurance coverage, but it’s always a good idea to purchase it. Home repair expenses can be extremely expensive without help from an insurer. And if you have to take out a mortgage on your home, your mortgage lender will likely require you to carry homeowners insurance.

The 80/20 rule is a good basic guideline to follow for how much home insurance coverage to purchase. You should have coverage equal to or greater than 80% of your home’s replacement cost.5 No matter how much dwelling coverage you buy, it’s essential to know exactly what your home insurance policy covers since it doesn’t cover everything.

What are some of the biggest risks when owning a home in Maine? 

Owning a home in Maine comes with numerous perils that homeowners should be aware of, including, but not limited to:

Maine homeowners insurance FAQs