Maine's average home insurance premium is $119 per month or $1,425 annually. This is $170 less per month than the national average, saving residents $2,042 per year. Maine ranks 42nd nationally for home insurance costs, making it one of the most affordable states for coverage.
Average Home Insurance Cost in Maine
Updated: January 7, 2026
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Key Takeaways: Maine Home Insurance Rates
Maine homeowners pay an average of $119 monthly or $1,425 annually for coverage, ranking as the 42nd most expensive state nationwide.
Determine your coverage needs, gather multiple quotes and research providers to find the best home insurance in Maine at competitive rates.
Get instant cost estimates with MoneyGeek's free home insurance calculator below, which provides quotes in seconds without requiring personal details.
How Much Is Home Insurance in Maine?
| Maine | $1,425 | $3,467 | -59% |
*These rates are for a frame construction home built in 2000 with $250,000 dwelling, $125,000 personal property, $200,000 liability coverage and a $1,000 deductible.
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$220
High
$144
Average
$104
Low
Rates updated:
Feb 06, 2026
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What Affects Average Maine Home Insurance Costs?
Maine home insurance costs vary based on where you live, how much coverage you buy, your home's construction type, which insurance company you choose, your credit score and your claims history. Let's examine how each of these factors impacts what you'll pay for coverage.
Average Maine Home Insurance Cost by City
Maine homeowners in Lewiston enjoy the state's lowest insurance costs at $99 monthly. That's $32 less per month than New Vineyard residents pay and $26 less than Wilton. Peaks Island sits in the middle at $120 monthly. Where you live matters; city location alone creates annual differences up to $390.
| Lewiston | $99 | $1,187 |
| New Vineyard | $131 | $1,577 |
| Peaks Island | $120 | $1,438 |
| Wilton | $125 | $1,497 |
Average Cost of Maine Home Insurance by Company
Provider choice creates massive rate differences in Maine. Vermont Mutual offers the lowest annual premiums at $586, while The Hanover charges $2,745, nearly five times more. Shopping between carriers can save Maine homeowners over $2,000 yearly.
| Vermont Mutual | $49 | $586 |
| Concord Group Insurance | $69 | $825 |
| State Farm | $71 | $856 |
| Chubb | $74 | $891 |
| Farmers | $111 | $1,337 |
| Allstate | $147 | $1,768 |
| Travelers | $199 | $2,388 |
| The Hanover | $229 | $2,745 |
Average Maine Homeowners Insurance Pricing by Coverage Level
Coverage decisions directly affect what you pay. Moving from $100,000 to $250,000 dwelling coverage adds $659 to your annual premium. Jumping to $500,000 dwelling protection increases costs by another $1,090. Each coverage tier increase reflects the insurer's additional risk exposure and potential claim costs.
| $100K Dwelling / $50K Personal Property / $100K Liability | $64 | $766 |
| $250K Dwelling / $125K Personal Property / $200K Liability | $119 | $1,425 |
| $500K Dwelling / $250K Personal Property / $300K Liability | $210 | $2,515 |
| $750K Dwelling / $375K Personal Property / $500K Liability | $305 | $3,665 |
| $1MM Dwelling / $500K Personal Property / $1MM Liability | $407 | $4,883 |
Maine Homeowners Insurance Costs by House Age
Home age affects insurance costs in Maine. Homes built in 2020 average $1,025 annually, while homes built in 1980 cost $1,540 per year. Older homes cost about 1.5 times more to insure than newer construction.
| Newer | $85 | $1,025 |
| Middle Age | $119 | $1,425 |
| Older | $128 | $1,540 |
Average Maine Home Insurance Cost by Credit Score
Your credit score directly impacts home insurance costs in Maine. Homeowners with better credit pay less because insurers see them as lower risk. Annual premiums range from $825 to $5,795 based on creditworthiness.
| Excellent | $69 | $825 |
| Good | $119 | $1,425 |
| Below Fair | $371 | $4,453 |
| Poor | $483 | $5,795 |
Why Is Home Insurance So Affordable in Maine?
Maine ranks among the most affordable states for home insurance, with annual premiums 59% below the national average. Several factors contribute to these lower costs:
Limited Severe Weather Events
Maine experiences fewer catastrophic weather events compared to states prone to hurricanes, tornadoes or earthquakes. While the state gets harsh winters and occasional nor'easters, these events cause less widespread property damage than disasters in high-risk regions. According to the National Oceanic and Atmospheric Administration (NOAA), Maine recorded only 19 major disaster declarations between 1980 and 2024, compared to 94 in Florida and 190 in Texas.
Lower Property Values
Maine's median home value sits well below the national average, directly reducing insurance costs since premiums scale with dwelling coverage amounts. The U.S. Census Bureau reported Maine's median home value at $266,400 in 2023, compared to the national median of $303,400. Lower replacement costs mean insurers have smaller potential payouts, translating to reduced premiums for homeowners.
Competitive Insurance Market
Maine maintains a healthy insurance marketplace with multiple carriers competing for customers, which keeps rates reasonable. This competitive environment prevents any single carrier from dominating the market and inflating prices.
Tips to Save on Maine Home Insurance
Maine homeowners deal with higher insurance costs, which makes finding the cheapest home insurance in Maine options a smart way to manage expenses. These practical tips help lower premiums and protect your budget without sacrificing coverage quality.
- 1Calculate Coverage Needs
Start with your home's rebuild cost, not its market value. Construction prices have changed since you bought your property, and insuring based on market value leaves you underprotected or overpaying. Document your belongings room by room to determine accurate personal property coverage. Maine's harsh winters mean Portland and Bangor homeowners should add water backup protection for snowmelt flooding.
- 2Research Rates and Discounts
Get baseline estimates using MoneyGeek's Maine home insurance calculator before contacting insurers. This gives you negotiating power and helps spot overpriced quotes. Ask every provider about security system discounts, new home credits, claim-free bonuses and protective device reductions. Coastal Maine properties often qualify for storm shutter discounts given the state's nor'easter exposure.
- 3Compare Multiple Providers
Gather quotes from at least three insurers and evaluate service quality alongside price. Low premiums mean nothing if your claim gets delayed or denied when you need coverage most. Research customer satisfaction rankings, claims processing timelines and financial stability scores. Maine's severe weather makes reliable claims handling worth paying slightly higher premiums.
- 4Bundle Your Policies
Pairing home and auto coverage with the same insurer usually saves 10% to 25% on your combined premiums. This works especially well in Cumberland and York counties where competitive auto insurance rates exist. Your bundling discount applies to both policies, compounding your total savings.
- 5Lower Your Risk Profile
Add safety equipment like smoke detectors, security systems and storm shutters to qualify for premium reductions. Avoid filing small claims; maintaining a clean record saves $226 to $417 yearly compared to customers with claims. Fix your credit score to see dramatic savings. Improving from below fair to good credit cuts premiums by 68%, saving Maine homeowners over $3,000 annually.
Calculate Maine Homeowners Insurance Costs: FAQ
Homeowners insurance costs in Maine depend on multiple factors specific to your property and situation. The following FAQs help you understand what affects your rates and estimate potential expenses for your home insurance coverage.
How much will my premium increase after filing a claim in Maine?
Filing a claim in Maine increases your homeowners insurance premium by $227 for one claim and $418 for two claims compared to claim-free customers. Maine homeowners without any claims pay $1,425 annually on average. One claim raises your rate to $1,651 per year. Two claims bump your annual premium to $1,842. Claims remain on your record for five years, meaning you'll pay these elevated rates throughout that entire period.
How much can I save by choosing a different insurer in Maine?
You can save thousands of dollars annually by shopping around for home insurance in Maine. The difference between insurers is striking: Vermont Mutual offers coverage for just $49 per month, while The Hanover charges $229 monthly for similar protection.
Mid-range providers also show huge cost gaps. Chubb costs $74 monthly compared to Farmers at $111, creating a $37 monthly difference for comparable coverage. Compare quotes from at least three insurers to find the best rate for your situation.
Does home insurance in Maine cover ice dam damage?
Standard Maine homeowners policies often cover sudden ice dam damage to your home's interior, such as water damage to ceilings and walls. However, insurers often exclude damage from ice dams that develop gradually due to poor maintenance or inadequate insulation. Prevent coverage disputes by maintaining proper attic insulation and ventilation, and removing snow from your roof after heavy storms.
How does bundling home and auto insurance affect my coverage options in Maine?
Bundling home and auto insurance with one carrier saves 10% to 25% on premiums while simplifying your insurance management. However, bundling doesn't limit your coverage choices; you still select coverage limits, deductibles and endorsements independently for each policy. The discount applies to your combined premium total, not to individual policy features or protection levels.
How can I lower my home insurance costs in Maine?
Maine homeowners can reduce their insurance costs by implementing several effective strategies. Shopping around remains important since insurers can charge thousands more for identical coverage in the state. Maintaining a claim-free record for five or more years delivers substantial savings of $227 to $418 annually compared to having one or two claims on your record.
Adjusting your deductible from $500 to $1,000 reduces your annual premium by approximately $103. While this means paying more upfront during a claim, the long-term savings are considerable. Many insurers offer additional discounts for bundling multiple policies, installing security systems or owning newer homes.
These discount opportunities can further decrease your yearly costs. Contact multiple insurance providers to compare rates and available discounts, as even small reductions compound into meaningful annual savings over time.
How We Analyzed Maine Home Insurance Rates
MoneyGeek calculated Maine home insurance estimates using real rate data to show how specific factors affect your costs. We created a standard homeowner profile that represents typical circumstances across the state.
Our baseline profile includes $250,000 in dwelling coverage, $125,000 in personal property coverage, $200,000 in liability coverage and a $1,000 deductible. The home profile assumes frame construction with a composition roof, built in 2000, and no insurance claims filed within five years.
These specifications match common Maine homeowner situations. The $250,000 dwelling amount aligns with median home values in many Maine communities. Homes built in 2000 represent the middle-aged properties that make up the largest segment of Maine's housing stock.
We tested how individual factors change your premium by adjusting one element while keeping everything else the same. For home age comparisons, we analyzed identical policies for houses built in 1980, 2000 and 2020. This approach shows the real impact each factor has on your rate.
Your actual premium will be different depending on your home's construction, roof type, age, location, coverage amounts, claims record, credit history and insurance company. These rate differences demonstrate which factors matter most when you shop for coverage.
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. He has analyzed the insurance market for over five years, conducting original research for insurance shoppers. His insights have been featured in CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
He writes about economics and insurance, breaking down complex topics so people know what they're buying.
sources
- National Centers for Environmental Information. "Maine Billion-Dollar Disaster Events (1980-2024)." Accessed February 6, 2026.
- United States Census Bureau. "Maine Quick Facts." Accessed February 6, 2026.