Updated: November 6, 2025
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Maine homeowners pay an average of $1,267 annually for home insurance in 2024. That's $1,156 less than the national average of $2,423.
Your credit rating has the largest impact on premiums after your coverage amount. Homeowners with poor credit pay up to $2,543 more than those with excellent credit.
If your rates recently increased, our analysis of the cheapest policies in Maine can help you find more affordable coverage. The insurance company you choose also influences your premium costs.
MoneyGeek’s home insurance calculator will give you a ballpark estimate of your cost — It's free to use, requires no personal information and we won't send you any spam.
Rates updated:
Dec 07, 2025
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Table of Contents
To find the average cost of homeowners insurance in Maine, MoneyGeek used quotes from various providers and used a profile that reflects the average homeowner.
These rates reflect the average cost of home insurance in Maine as of 2024.
In Maine, the average annual cost of homeowners insurance is $1,267 (with $250,000 in dwelling coverage, $125,000 in personal property coverage and $200,000 in liability coverage). This is lower than the national average rate of $2,423.
Choosing the right coverage amount helps protect your belongings and home. When deciding how much cover you need, consider the total cost to rebuild your home and replace your property.
For example, a policy with $100,000 in dwelling coverage costs around $685 per year. For homeowners with larger or higher-value properties, a $500,000 policy averages about $2,242 a year.
| $100K Dwelling / $50K Personal Property / $100K Liability | $685 |
| $250K Dwelling / $125K Personal Property / $200K Liability | $1,267 |
| $500K Dwelling / $250K Personal Property / $300K Liability | $2,242 |
| $750K Dwelling / $375K Personal Property / $500K Liability | $3,255 |
Homeowners insurance premiums in Maine can vary widely between providers, even when coverage levels are similar. Some insurers may offer lower rates based on their risk assessments or discounts for specific home features.
If you’re shopping for coverage, there are plenty of great providers in Maine to choose from. Because each company uses its own underwriting guidelines, rates can differ quite a bit, so comparing quotes is the best way to find the right fit for your budget.
| Vermont Mutual | $486 |
| Concord Group Insurance | $667 |
| State Farm | $857 |
| Chubb | $892 |
| Farmers | $1,097 |
| Allstate | $1,722 |
| Travelers | $2,043 |
| The Hanover | $2,373 |
In Maine, homeowners with poor credit pay an average of $3,309 per year for insurance, which is $2,042 higher than the state average of $1,267. Credit scores have a major influence on premiums — those with excellent credit pay around $766 annually, saving about $501 compared to the average.
Raising your credit score can help lower your insurance costs over time. While working on that, comparing providers is a smart way to find more affordable options. You can check which companies offer the best rates for homeowners in Maine to start saving even before your credit score improves.
| Poor | $3,309 |
| Below Fair | $2,540 |
| Fair | $1,857 |
| Good | $1,267 |
| Excellent | $766 |
Your roof type affects your insurance premium in Maine. Tile roofs, which are sturdier, can lower insurance costs. Shake-treated roofs may result in higher premiums due to their susceptibility to weather-related damage.
Construction type influences your rates. Materials more resistant to fire can lower your premiums.
Use the drop-downs in the table below to see how premiums change based on your home's materials.
| $100K Dwelling / $50K Personal Property / $100K Liability | $685 |
| $250K Dwelling / $125K Personal Property / $200K Liability | $1,267 |
| $500K Dwelling / $250K Personal Property / $300K Liability | $2,242 |
| $750K Dwelling / $375K Personal Property / $500K Liability | $3,255 |
| $1M Dwelling / $500K Personal Property / $1M Liability | $4,318 |
Insuring a new construction home in Maine costs less than covering an existing home. New homes average $762 annually, $505 less than the $1,267 average for older homes. The table below shows premium differences for new versus existing homes.
| Existing Construction (2000) | $1,267 |
| New Construction (2023) | $762 |
Maine homeowners who maintain a claim-free record for five or more years pay an average of $1,267 annually. One claim within the past five years increases the average premium to $1,714, while two claims push it to $2,058 annually. Premiums rise $447 after one claim and $791 with two claims, compared to the baseline average.
| Claim free for 5+ years | $1,267 |
| 1 claim in past 5 years | $1,714 |
| 2 claims in past 5 years | $2,058 |
In Maine, hurricanes and nor'easters can hit your wallet hard. Your standard homeowners insurance may cover damage from winter storms but often doesn't include flooding. You'll need extra coverage to protect your home from floods.
Shopping for home insurance in Maine can be smooth with the right approach. You can find a plan that fits your budget and gives you peace of mind.
Ask about deals for bundling or safety features that can help you lower costs.
Pick a deductible that fits your budget.
Make sure you understand what your policy covers.
Buy the policy that's right for you.
Maine homeowners can save by bundling home and auto insurance policies. On average, you can save about 15%, with potential savings ranging from $74 to $400 annually.
You can lower insurance costs with these discounts:
Vermont Mutual offers the lowest average premium at $486. For more affordable options, explore cheap national providers.
Winter storms are usually covered. But for better coverage, consider buying flood insurance for financial protection from flooding and other natural disasters.
Flood insurance isn't included in standard home policies. You can purchase it through the National Flood Insurance Program or a private flood insurer, and some home insurers offer it as an endorsement.
Credit rating plays an important role in determining premiums. Homeowners with excellent credit can pay as little as $766 per year on average.
Bundling can save you an average of 15%.
There are helpful resources to learn about insurance in Maine.
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like 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.
