State Farm, Chubb and Travelers are Maine's best cheap renters insurance companies. State Farm ranks first for affordable rates. Chubb leads in customer reputation, and Travelers offers the best coverage options.
Cheap Renters Insurance in Maine
Updated: November 12, 2025
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Key Takeaways
State Farm is Maine's best overall renters insurance company, offering the cheapest policy at $99 per year.
Renters insurance in Maine costs around $17 per month but ranges from $8 to $60.
To get the best and most affordable renters insurance, decide your coverage needs beforehand, research costs and compare multiple quotes.
Best Cheap Renters Insurance Companies in Maine
| State Farm | 95 | $8 | $99 |
| Chubb | 84 | $41 | $491 |
| Vermont | 84 | $10 | $115 |
| Allstate | 80 | $30 | $363 |
| Travelers | 76 | $60 | $724 |
*This list shows rates for a renter with good credit, no claims history, $50K in property damage coverage, $100K in liability coverage, a $1,000 deductible and guaranteed replacement.
Maine renters endure harsh winters with potential pipe freezing and ice dam damage, so use our renters insurance estimate calculator to ensure your coverage handles cold-weather losses.
Maine Renters Insurance Quote Estimates
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Rates updated:
Nov 12, 2025
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Compare Personalized Best Cheap Renters Insurance in Maine
While the above list covers most renters, it may not reflect the best options for your needs. Filter the table to match your profile and find the best choice in Maine.
Data filtered by:
$50K Personal Property / $100K Liability
Select
Claim free for 5+ years
Yes
Good
| State Farm | 95 | $7 | $84 |
| Vermont | 83 | $8 | $100 |
| Allstate | 80 | $13 | $153 |
| Concord Group | 77 | $12 | $139 |
| Travelers | 72 | $25 | $296 |
Best Maine Renters Insurance Reviews
Here are more details about our top picks for affordability, customer service and coverage options for Maine renters insurance.
State Farm: Most Affordable Plans
pros
Lowest rates
Large discount selection
High financial stability ratings
cons
Below-average claims satisfaction
Limited add-on coverage options
COMPANY HIGHLIGHTS
State Farm offers Maine's most affordable renters insurance at $8 monthly. J.D. Power ranks State Farm seventh for customer satisfaction. Coverage options include identity theft protection and earthquake coverage.
Chubb: Best for Customer Service
pros
Very high customer satisfaction ratings
Large add-on coverage selection
cons
Higher rates than average for most profiles
COMPANY HIGHLIGHTS
Chubb isn't the cheapest renters insurance in the state, but it offers top-notch customer service. J.D. Power ranks it best for claims and customer satisfaction. Chubb provides strong coverage options for renters, including rental car coverage and worldwide personal property protection.
Travelers: Best for Coverage Options
pros
Most extensive add-on coverage selection
High financial stability
cons
Higher average rates in Maine
COMPANY HIGHLIGHTS
Travelers is Maine's most expensive renters insurance provider, but it offers the best coverage options. Unique offerings include valuable items plus coverage for high-value items like jewelry, fine art, musical instruments and computers. Customers can also use improvements and betterments coverage, which is rare among renters policies.
Average Cost of Renters Insurance in Maine
On average, renters insurance costs $17 monthly in Maine, $3 lower than the national average of $20. These rates are based on a policy with $50K in personal property coverage, $100K in liability coverage and a $1,000 deductible.
Your rate may vary depending on your profile. The table provides average rates for your situation based on major factors affecting insurance costs.
Data filtered by:
$50K Personal Property / $100K Liability
Select
Claim free for 5+ years
Good
Covered
| $50K Personal Property / $100K Liability | $17 | $203 |
Maine Renters Insurance: Buyer's Guide
Finding renters insurance in Maine can be difficult. Our guide helps you locate the best and cheapest coverage.
How to Find the Best Cheap Renters Insurance in Maine
Follow these steps to find the ideal coverage for you:
- 1Determine the right coverage level
Understand how much coverage you need. Assess your possessions' value and consider risks like weather damage, crime and any pets that might be a liability.
- 2Research costs and discounts
Explore average costs for your situation. Look for applicable discounts to get the most affordable plan.
- 3Compare providers
Research providers' reputations, coverage options and costs. This helps identify which companies to request quotes from.
- 4Consider bundling
Review existing insurance packages, such as combining renters and auto insurance with your current provider. Bundling often creates savings that cover renters insurance costs.
- 5Get multiple quotes through different channels
Gather at least five comparable quotes to get the best rate. Use comparison sites and direct agent consultations, and weigh what each offers.
- 6Compare rates annually
The insurance market changes constantly. Yearly comparisons help you continue paying competitive rates, as your current plan might not always remain the cheapest.
How Much Renters Insurance Do I Need in Maine?
Renters insurance isn't required by Maine law, but most landlords require at least $100K in liability coverage. Requirements may vary based on your rental history, credit score and pet ownership. Consider how much property coverage you need, local weather risks, area crime rates and pet ownership when selecting a policy.
Use our calculator to determine your ideal personal property coverage limits and how much renters insurance you need.
Personal Property Coverage Calculator
When figuring out how much renters insurance you need, experts recommend the standard $100,000 in liability insurance and enough personal property protection to cover your possessions. Use MoneyGeek's calculator to estimate the value of your possessions so you know how much personal property coverage to buy.
clothing & accessories
Clothes, shoes, bags, belts, hats, gloves, etc.
Maine Renter Risk Considerations
Maine renters deal with specific risks that need extra coverage:
- Weather risks: Some Maine locations deal with floods, earthquakes, tornadoes and droughts. Basic policies won't protect you from these dangers in high-risk zones. You'll need separate coverage.
- Crime risks: Maine ranks 46th for property crime and 41st for identity theft nationwide. Add supplemental coverage or policy add-ons for stronger property protection.
- Pet ownership: Your pet might need liability coverage. Compare how insurers treat pets and whether they include coverage automatically.
- Property types: Basic policies skimp on coverage for specialized tools, valuables, electronics or structures like pools at your rental. Find insurers with add-ons for these items.
How Does Renters Insurance Coverage Work?
Renters insurance pays for damaged property, injuries you cause, and temporary housing if your rental becomes unlivable. Optional add-ons expand what your policy covers. Here are the main coverage types:
Coverage Type | Standard or Add-on | Coverage Details |
|---|---|---|
Standard | Pays for belongings that get damaged or stolen up to your limit. Basic plans give you what the item's worth now after depreciation. Replacement cost plans buy you an equivalent new item. | |
Standard | Pays medical bills and legal fees when someone gets injured at your place. Most landlords make you carry this. | |
Additional living expenses | Standard | Covers hotel stays, restaurant meals and gas when you can't live in your rental. Each insurer caps this differently. |
Natural disasters | Add-on | Pays for earthquake or flood damage. You buy this separately from certain insurers. |
Parts/Equipment | Add-on | Pays to replace or repair tools, appliances and utility equipment at your rental. |
Scheduled property | Add-on | Covers expensive belongings up to set dollar amounts. |
Identity theft | Add-on | Pays what identity theft costs you financially plus lawyer fees. Some plans throw in monitoring. |
Pet liability | Add-on | Covers injuries your pet causes others, though some basic policies already include this. |
Modifications | Add-on | Pays for custom improvements you made to your rental unit. |
Food loss | Add-on | Reimburses groceries that spoil during covered problems. |
Best Renters Insurance in Maine: Bottom Line
Maine's best and cheapest overall renters insurance companies are State Farm, Chubb and Travelers. We recommend these options, but you should research and compare multiple companies and quotes to get the best deal.
Renters Insurance in Maine: FAQ
Here are expert answers to common questions about renters insurance in Maine:
What is the cheapest renters insurance company in Maine?
State Farm offers the cheapest renters insurance in Maine at $99 annually or $8 monthly.
What is the best renters insurance company in Maine?
State Farm is the best renters insurance company in Maine, with a MoneyGeek score of 95 out of 100 due to its outstanding affordability and dependable customer service.
How much does renters insurance cost in Maine?
Renters insurance in Maine costs $203 annually or $17 monthly, 16% lower than the national average. Annual premiums range from $99 to $724.
Is renters insurance required in Maine?
Maine doesn't legally require renters insurance, but your landlord may. Consider your situation to decide if a policy makes sense for you. Key reasons to get coverage include protecting your belongings from common hazards and covering liability costs if someone gets hurt in your rental.
How We Found the Best Cheap Renters Insurance Companies
Maine renters pay below the national average for coverage, but rates vary widely from $99 to $724 annually across providers. We analyzed insurers serving Maine to find companies that balance low rates with strong customer service and comprehensive coverage options.
Our analysis focused on Maine-specific factors: We examined how insurers price coverage in a state with high weather risks, including floods, earthquakes, tornadoes and droughts in certain areas. Maine's low crime rates (46th for property crime, 41st for identity theft) mean liability coverage matters more than theft protection for most renters. We also evaluated which companies offer flexible coverage for Maine's unique housing stock, from coastal rentals to rural properties.
Base profile details: We used $50K personal property coverage, $100K liability coverage, a $1,000 deductible, property replacement coverage and good credit. This profile determined our affordability score (60% of the total). We also weighted customer satisfaction from industry research (25%), add-on coverages (10%) and financial strength ratings (5%).
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.
sources
- Insurance Information Institute. "Facts + Statistics: Identity Theft and Cybercrime." Accessed April 25, 2025.
- Maine Emergency Management Agency. "Natural Hazards." Accessed April 25, 2025.
- U.S. News. "Low Property Crime Rate." Accessed April 25, 2025.