Best and cheapest renters insurance in Maine

Best renters insurance companies in Maine

When choosing the best renters insurance company in Maine, make sure you’re comparing on more than just price. We’ve compared quotes, coverage options and J.D. Power scores from all the major insurers in Maine. Below is our list of best renters insurance companies in Maine based on that analysis, with our score out of five. Note that USAA only offers coverage to military families.

Company	Average rating(out of 5)
State Farm	4
USAA	3.5
Allstate	2.5

Compare the best renters insurance companies in Maine

Comparing quotes from multiple insurance carriers is one way to ensure you will get your money’s worth. There can be big differences in price between different renters insurance providers, so it pays to shop around. Ensure you buy from a company offering affordable renters insurance and consistent customer service.

To simplify your task, we have compared the carriers for Maine residents based on their average rates and ratings from J.D. Power. Among the carriers surveyed, State Farm is the best renters insurance company in Maine. It earned 844 out of 1000 from J.D. Power and has an average renters insurance rate of $113.

The table below offers a detailed comparison of renters insurance companies in Maine.

Company	J.D. Power Score	Average Annual Premium	AM Best Ratings
State Farm	844	$113	A++
USAA	894	$140	A++
Allstate	835	$146	A+

How much is renters insurance in Maine

Maine residents pay an average of $172 a year for renters insurance, and the average monthly cost is $14. That’s for a policy with personal property coverage of $40,000, liability coverage of $100,000, and a deductible of $1,000.

What you pay for renters insurance will not be the same as a neighbor’s price because it depends on factors specific to each person: the property you want to insure, extra coverage options you add, and the deductible amount you choose.

“The number one thing that’s most important is to get good liability. A renter’s policy will default to $100,000 liability,” Josiah Hatch, an insurance pro with Bender Hatch Insurance in Boston, said. “It costs next to nothing to go from $100,000 to $500,000. I want to say it’s probably 10 bucks a year. It’s really cheap to get a lot of extra coverage. I always recommend getting the most liability you can because that’s, at its core, what insurance is all about: the worst-case scenario.”

Average Annual Premium	Average Monthly Premium
$172	$14

Most expensive ZIP codes in Maine for renters insurance

Several factors affect your renters insurance coverage cost in Maine, including your location and the coverage you buy. The most expensive ZIP code in Maine for renters insurance is 4478, where the average annual rate is $212 which is $40 more than the state average insurance premium.

The following table lists the most expensive ZIP codes in Maine for renters insurance.

ZIP code	Average Annual Rate
4478	$212
4985	$210
4442	$206
4485	$205
4964	$202
4942	$201
4982	$200
4406	$199
4979	$197
4261	$196

Least expensive ZIP codes in Maine for renters insurance

Renters insurance rates in Maine are cheaper in some areas. Based on a rate analysis by Insurance.com, the least expensive ZIP code for renters insurance in Maine is 4667, and its average annual rate is $148.

Below, you’ll find the least expensive ZIP codes for renters insurance, along with their average annual rates.

ZIP code	Average Annual Rate
4667	$148
4654	$149
4856	$151
4658	$152
4865	$153
4101	$154
4609	$155
4625	$156
4640	$157
4473	$158

Compare renters insurance rates by city in Maine

Renters insurance rates vary significantly across cities, influenced by various factors, including weather patterns, crime rates, and property values. You must consider these factors and compare quotes from different insurers to get the best deal on renters insurance for your specific city in Maine.

City	Annual insurance premium
Auburn	$156
Augusta	$157
Bangor	$150
Biddeford	$167
Lewiston	$154
Portland	$159
Saco	$169
Sanford	$164
South Portland	$154
Westbrook	$162

Cheap renters insurance in Maine by company

There are a lot of companies offering renters insurance in Maine. Among the carriers surveyed by Insurance.com, Vermont Mutual is the cheapest renters insurance company in Maine; its average annual premium is $100.

Renters insurance prices can vary drastically between companies. That’s why it is important to compare rates and see which company offers the best deal to get coverage at an affordable price.

Below are the best cheap renters insurance companies in Maine and their average annual premiums.

Company Name	Average Annual Premium
Vermont Mutual	$100
State Farm	$113
MMG Insurance	$125
USAA	$140
Allstate	$146
Auto-Owners	$150
Metropolitan	$182
Quincy Mutual	$187
The Hanover	$474

Methodology

Insurance.com compared renters insurance rates in 2022 provided by Quadrant Data Solutions for $40,000 personal property coverage with a $1,000 deductible and $100,000 liability coverage for all available ZIP codes based on a renter with good credit. Content was updated in 2023.