How Much Is Flood Insurance in Maine? Average Flood Insurance Cost and Coverage

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Updated: May 22, 2024

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Homeowners and renters insurance don’t usually cover flood damages. Since flooding can happen anywhere, getting flood insurance to protect your home and belongings is advisable.

In Maine, multiple counties are in moderate- and high-risk flood zones. This makes flood insurance more advisable since just an inch of water can cost up to $25,000 in damages, according to the Federal Emergency Management Agency (FEMA).

The cost of your flood insurance policy is based on your location, coverage preferences and individual risk factors, including your home’s structure, elevation, replacement/repair costs and flood frequency.

Flood insurance prices may vary based on your county and the frequency of flooding events in that area.

You can buy flood insurance from the NFIP and from private insurance companies, with the latter allowing you to get an excess policy if a base policy is insufficient for your needs.

A flood insurance policy protects your home’s structure and personal property from damage caused by natural flooding.

Average Cost of Flood Insurance in Maine

On average, flood insurance in Maine costs $1,133 per year. This amount is influenced by the state’s flood-prone areas and individual property risks. Nonetheless, your premium price may vary based on your location within the state. If you live in a moderate- or high-risk flood location, you can expect higher insurance prices than someone in a low-risk area.

Average Cost of Flood Insurance by County in Maine

Flood insurance prices in Maine are about $365 higher compared to the national average. This may be because there are more flood-prone locations in Maine than in other states.

MoneyGeek broke down Maine’s average cost of flood insurance per county. York County has the cheapest rates at $977 per year, while rates in Kennebec County are the most expensive at $1,787 per year.

Maine Flood Insurance Cost Per County
AROOSTOOK COUNTYAverage Cost$1,049
FRANKLIN COUNTYAverage Cost$1,359
HANCOCK COUNTYAverage Cost$1,056
KENNEBEC COUNTYAverage Cost$1,787
KNOX COUNTYAverage Cost$1,447
LINCOLN COUNTYAverage Cost$1,332

Companies That Offer Flood Insurance in Maine

In Maine, you can buy flood insurance from the NFIP or a private insurance provider. If you opt for the latter, you can choose between the following:

  • Base policy - flood insurance with similar coverage to an NFIP policy
  • Excess policy - offers supplemental coverage on top of the base policy

Generally, private insurers are recommended if you live in a non-NFIP-community or if you find NFIP coverage insufficient for your household’s needs.

Private Flood Insurance Providers in ME and Their Contact Numbers

Neptune Flood


Aon Private Flood


Hiscox - FloodPlus


FloodSimple Insurance Services




The NFIP has existing partnerships with Maine insurance providers that offer flood insurance. MoneyGeek listed NFIP-participating insurance companies and their contact details in the table below.

NFIP-Participating Flood Insurance Providers in State and Their Contact Numbers

Allstate Insurance Company

(800) 527-2634

American Commerce Ins. Co.

(800) 562-4517

American Nat. Prop. & Casualty

(417) 887-4990

American Strategic Ins. Corp.

(866) 274-8765


(800) 423-4403

Concord Group Insurance

Refer to the Agent locator

Farm Family Casualty

(518) 431-5000

Farmers Insurance Group

(866) 865-2965

How to Purchase Flood Insurance and Its Coverage Requirements

Buying flood insurance in Maine is easy since there are no special requirements to obtain a flood policy (unlike auto insurance, for example). You can start by calling your home insurance agent or the NFIP hotline, managed by FEMA, at (877) 336-2627. Likewise, you can research other flood insurance companies and contact them directly.

MoneyGeek recommends getting a flood policy as soon as possible. NFIP has a 30-day waiting period, while private companies in Maine can have as little as a 10-day waiting period. Call your insurance provider to be informed of your waiting period.

What Does Flood Insurance Cover in Maine?

A flood insurance policy usually covers your home’s structure and contents. Remember that just one inch of water can cost you $25,000 in flood damages.

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Although flood insurance covers water damage from natural phenomena or weather events, it doesn’t extend to damages caused by broken pipes, leaking appliances and other unnatural water conditions.

Generally, flood insurance doesn’t cover repair and replacement costs for vehicles, swimming pools, decks, patios, landscaping, cash, paperwork and basement items.

Flood Insurance Building Coverage

Flood insurance typically includes building coverage, which helps pay for repairing or replacing your home’s physical structure if a covered peril damages it.

The NFIP allows you to buy up to $250,000 in building coverage, and it covers the following items:

  • Foundation walls
  • Electrical systems
  • Plumbing systems
  • Furnaces, central heating and air conditioning
  • Built-in appliances
  • Permanent carpets
  • Built-in furniture

Flood Insurance Contents Coverage

A flood insurance policy also includes contents coverage, which covers damages to your personal belongings, such as:

  • Clothing
  • Furniture
  • Electronic equipment
  • Washers and dryers
  • Artwork

You can get up to $100,000 of content coverage from the NFIP.

Factors That Affect Flood Insurance Costs in Maine

Before October 2021, your proximity to a flood zone (based on the flood map) was the only factor that affected your flood insurance rates. However, that’s no longer the case. You can still use FEMA’s website to find your location’s historical flood risk and impact.

Based on FEMA’s data for Maine, since 1996, Aroostook county has had the most flooding events at 85. Meanwhile, Waldo has the least at 11. MoneyGeek’s research shows that the average costs of flood insurance for these counties are $1,049 and $1,509, respectively.

Although Aroostok has the greatest number of flooding events in Maine, it doesn’t have the most expensive flood insurance premiums. This is because Aroostook is a huge county, and flooding events encompass a large area and are less concentrated across the region.

Risk Rating 2.0

Since October 2021, FEMA has started using Risk Rating 2.0. It’s a rating system that facilitates fairer flood insurance pricing by considering individual factors and not relying on a broad flood map.

To assess your flood insurance rates, the Risk Rating 2.0 looks into the characteristics of your home, including:

  • Foundation type
  • Dwelling structure
  • Elevation
  • Replacement and repair costs
  • Frequency of flooding
  • Proximity to bodies of water

MoneyGeek explained other notable flood insurance cost factors in the table below. Note that your location has a significant impact on your premiums.

    building icon

    Flood Risk

    With the FEMA’s use of Risk Rating 2.0, your flood risk is determined individually. As such, you and your neighbor may have different flood risks even though you live in the same location. Nonetheless, living in a low-risk flood zone will result in relatively lower rates.

    insurance2 icon

    Coverage Type

    The amount of coverage you buy will affect your flood insurance rates. You can expect higher rates if you choose more comprehensive coverage than a baseline policy.

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    Getting a flood insurance policy with a high deductible may lower your premiums. You can choose between $1,000 and $10,000, but be mindful that you’ll pay for this once you file a claim.

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    Age of Structure

    If you live in an older house, you may have more expensive rates than someone living in a new building. This is because older structures are pricier to repair and replace.

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    Structure Design

    The design of your house and the materials used to construct it also affect your flood insurance rates. A more elaborate design and difficult-to-source materials will result in higher premiums.

Do You Need Flood Insurance in Maine?

Buying flood insurance is generally advisable, especially since every property is vulnerable to flooding and homeowners and renters insurances don't cover flood damages.

If you’re living in a low- or moderate-risk flood zone, FEMA still recommends that you purchase a flood policy as an added layer of protection. Meanwhile, if you live in a high-risk flood location, government-backed mortgage providers may require you to get flood insurance before they approve your loan.

While federal disaster assistance can get you a loan or a grant of up to $5,000 per household, flood insurance coverage is much more than that. Additionally, a flood insurance policy will pay claims even without a presidential disaster declaration.

With a flood policy, you get added protection on top of the peace of mind that your home and personal belongings are covered in case of flooding.

Frequently Asked Questions About Maine Flood Insurance

Buying flood insurance doesn’t have to be complicated. MoneyGeek provides answers to some frequently asked questions to help you evaluate flood insurance.

What is the average cost of flood insurance in Maine?
Which companies offer flood insurance in Maine?
What kind of damage does flood insurance cover?
What affects flood insurance rates in Maine?

About Mark Fitzpatrick

Mark Fitzpatrick headshot

Mark Fitzpatrick has analyzed the property and casualty insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. Currently, he leads P&C insurance content production at MoneyGeek. Fitzpatrick has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.

Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.