Auto-Owners is the best homeowners insurance company in Maine, based on a 2023 analysis by Insurance.com, with an overall rating of 4.86. Chubb Ltd is the second-best home insurance company in Maine, with an overall rating of 4.78.
Vermont Mutual offers the cheapest home insurance in Maine at $688 a year.
With so many options out there, it is not easy to choose a homeowners insurance company in Maine. You need a reliable company that will provide you with quality service at an affordable price. If this is what you're looking for, then keep on reading this guide.
- The average cost of homeowners insurance in Maine is $1,407 a year or $117 a month.
- The cheapest homeowners insurance company in Maine is Vermont Mutual. It offers home insurance at an average of $688 a year.
- Auto-Owners ranked as the best insurance company in Maine based on rates, complaints and financial stability.
Average home insurance cost in Maine
The average cost of homeowners insurance in Maine is $1,407 a year or $117 a month.This is based on coverage of:
- $300,000 dwelling
- $300,000 liability
- $1,000 deductible.
- 2% Hurricane deductible
However, the average annual premium varies by the insurance company, your ZIP code, coverage type, your home's age, among other factors. It’s a good idea to compare price quotes from different Maine homeowners insurance companies to get the best deal.
Best home insurance companies in Maine
The best home insurance company in Maine for 2023 is Auto-Owners, followed by Chubb Ltd and Frankenmuth Insurance.
Below is a full list of the top Maine insurance companies based on price, NAIC complaints, and AM Best financial ratings. The total Insurance.com score is calculated out of five using these factors.
| Insurance company | AM Best | Average annual rate | NAIC Complaint ratio | Insurance.com score |
|---|---|---|---|---|
| Auto-Owners | A++ | $866 | 0.19 | 4.86 |
| Chubb Ltd | A++ | $1,009 | 0.16 | 4.78 |
| Frankenmuth Insurance | A | $1,354 | 0.11 | 4.27 |
| Allstate | A+ | $1,267 | 2.04 | 4 |
| Farmers | A | $2,368 | 0.33 | 3.55 |
| The Hanover | A++ | $2,840 | 0.39 | 2.97 |
| State Farm | A++ | $1,186 | 1.07 | 2.06 |
| Quincy Mutual | A | $1,334 | 0.43 | 1.7 |
| Vermont Mutual | A | $688 | 0.51 | 1.3 |
Cheapest home insurance companies in Maine
Below are Maine home insurance rates by company for six different levels of dwelling coverage, each with $300,000 in liability and a $1,000 deductible. Based on our rate analysis, you’ll see Vermont Mutual has the most affordable rates in every category by a wide margin.
| Company | $200,000 | $300,000 | $400,000 | $500,000 | $600,000 |
|---|---|---|---|---|---|
| Vermont Mutual | $529 | $688 | $860 | $1,033 | $1,205 |
| Chubb Ltd | $697 | $1,009 | $1,312 | $1,618 | $1,912 |
| Auto-Owners | $711 | $866 | $1,036 | $1,281 | $1,507 |
| Allstate | $902 | $1,267 | $1,571 | $1,904 | $2,199 |
| Quincy Mutual | $915 | $1,344 | $1,749 | $2,163 | $2,578 |
| State Farm | $941 | $1,186 | $1,438 | $1,755 | $2,053 |
| Frankenmuth Insurance | $970 | $1,354 | $1,744 | $2,107 | $2,435 |
| MMG Insurance | $1,031 | $1,447 | $1,814 | $2,285 | $2,704 |
| Farmers | $1,698 | $2,368 | $2,956 | $3,717 | $4,568 |
| The Hanover | $2,091 | $2,840 | $3,527 | $4,161 | $4,958 |
Maine home insurance rates by ZIP code
Home insurance rates can vary widely depending on where the home is located. We compared home insurance rates by ZIP code in Maine to see which areas are the most and least expensive.
The most expensive ZIP codes in Maine for home insurance
Maine homeowners insurance rates are the most expensive for ZIP code 04478 with an average annual cost of $1,634.
The most expensive ZIP codes in Maine are:
| ZIP code | Average annual rates |
|---|---|
| 04478 | $1,634 |
| 04979 | $1,628 |
| 04912 | $1,614 |
| 04925 | $1,611 |
| 04961 | $1,610 |
| 04945 | $1606 |
The least expensive ZIP codes in Maine for home insurance
The cheapest ZIP codes for home insurance in Maine are:
| ZIP code | Average annual rates |
|---|---|
| 04671 | $1,283 |
| 04862 | $1,296 |
| 04657 | $,1299 |
| 04691 | $1,302 |
| 04667 | $1,305 |
| 04106 | $1,319 |
