Best and Cheapest Home Insurance Companies in Maine (2026)
Vermont Mutual has the cheapest homeowners insurance in Maine, at $697/yr, on average. | ||
Home insurance in Maine costs an average of $1,280/yr, making it the 6th-cheapest state in the country. | ||
Average home insurance rates in Maine only differ by $388 per year between the most and least expensive cities in Maine, which is a much smaller variation than most other states. |
Vermont Mutual usually has the cheapest homeowners insurance in Maine, at $697/yr, on average. | ||
Home insurance in Maine costs an average of $1,280/yr, making it the 6th-cheapest state in the country. |
Find Cheap Home Insurance Quotes in Maine
Who has the best and cheapest home insurance in ME?
Who has the cheapest home insurance in Maine?
Vermont Mutual and State Farm have the cheapest home insurance in Maine.
Find Cheap Home Insurance Quotes in Maine
- Vermont Mutual has the cheapest insurance for more affordable homes in Maine. A policy from Vermont Mutual with $350,000 or less of dwelling coverage is typically 46% to 47% cheaper than the state average.
- State Farm has the lowest home insurance prices for higher-value homes. A State Farm policy with $500,000 of dwelling coverage is 49% cheaper than the Maine average. For $1 million of dwelling coverage, State Farm offers policies that cost, on average, 62% less than the state average.
Best and cheapest ME home insurance by dwelling coverage amount
$200,000
$350,000
$500,000
$1 million
Company | Annual rate | ||
|---|---|---|---|
| Vermont Mutual | 4.0 out of 5 | $432 |
| State Farm | 3.5 out of 5 | $556 | |
| Patriot | 3.8 out of 5 | $624 | |
| Concord | 5.0 out of 5 | $658 |
| Farmers | 3.5 out of 5 | $705 | |
| Allstate | 2.8 out of 5 | $825 | |
| MMG | 1.3 out of 5 | $876 |
| Quincy Mutual | 2.0 out of 5 | $1,174 |
| The Hanover | 2.5 out of 5 | $1,432 | |
Key takeaways
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Home insurance rates in Maine went up by only 2.8% in 2025, which is half as much as the average increase nationwide.
Additionally, Maine has had the smallest rate increase in the nation over the last five years, at just 19%. In comparison, rates across the country went up by nearly 48% over that same time period.
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Vermont Mutual has some of the cheapest home insurance in Maine, and the company has increased rates by just 15% over the past five years.
However, the second-cheapest company, State Farm, actually lowered their prices by about 7% over that same time period. So it's important to shop around for home insurance quotes when your policy comes up for renewal, because the best company for you today may not have the cheapest rates a year from now.
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Fire causes the most costly home insurance claims in Maine. Residential fires caused over $48.7 million in property damage across Maine in 2024, most of which took place in the kitchen, living room, bedroom or furnace room.
Your insurance will typically cover house fires, but it's important to properly maintain fireplaces, furnaces and wood stoves to help prevent costly damage.
Best for extra coverage: Vermont Mutual
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Annual cost$697Average rate for a $350,000 home
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Monthly cost$58Average rate for a $350,000 home
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Customer complaints Average
Best for extra coverage: Concord
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Annual cost$900Average rate for a $350,000 home
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Monthly cost$75Average rate for a $350,000 home
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Customer complaints Average
Best online tools: State Farm
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Annual cost$743Average rate for a $350,000 home
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Monthly cost$62Average rate for a $350,000 home
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Customer complaints Average
Top-rated home insurance companies in Maine
Concord is the best-rated home insurance company in Maine because of its affordable rates and good customer reviews.
In addition to Concord, several other home insurance companies in Maine also have good ratings and satisfied customers. These include Vermont Mutual, Patriot, Farmers and State Farm.
Company |
Rating
|
Complaints
|
|---|---|---|
| Concord | 5.0 out of 5 | Low |
| Vermont Mutual | 4.0 out of 5 | Average |
| Patriot | 3.8 out of 5 | Low |
| Farmers | 3.5 out of 5 | Average |
| State Farm | 3.5 out of 5 | Average |
| Chubb | 3.3 out of 5 | Low |
| Allstate | 2.8 out of 5 | High |
| The Hanover | 2.5 out of 5 | Average |
| Quincy Mutual | 2.0 out of 5 | Low |
| MMG | 1.3 out of 5 | High |
How much does home insurance cost in Maine?
Home insurance in Maine costs an average of $1,280 per year for $350,000 of dwelling coverage.
That's nearly 47% cheaper than the national average, making Maine the sixth-cheapest state in the U.S. for home insurance.
Dwelling coverage | Average rate |
|---|---|
| $200,000 | $809 |
| $350,000 | $1,280 |
| $500,000 | $1,773 |
| $1,000,000 | $3,459 |
Nearby states of Vermont and New Hampshire have similar home insurance rates as Maine.
In contrast, if you are a snowbird who spends the winters in Florida, the average cost of home insurance in Florida is $2,691 per year.
Maine homeowners insurance quotes by city
Home insurance in Portland, ME, costs an average of $1,318 per year, which is 3% more than the state average.
The cheapest city in Maine for homeowners insurance is Greenbush, a small town in Penobscot County, located in eastern Maine. Here, rates average $1,138 per year.
Home insurance is most expensive on Cliff Island, the outermost inhabited island off Portland in Casco Bay, with average rates of $1,526 per year.
Vermont Mutual is the cheapest company in 87% of cities and towns across Maine. State Farm is the most affordable option in the remaining 13%, which includes Portland.
Find Cheap Home Insurance Quotes in Maine
Average cost of home insurance in ME by city
City | Average rate | Cheapest company | Cheapest rate |
|---|---|---|---|
| Abbot | $1,404 | Vermont Mutual | $704 |
| Acton | $1,363 | Vermont Mutual | $621 |
| Addison | $1,434 | Vermont Mutual | $731 |
| Albion | $1,299 | Vermont Mutual | $689 |
| Alfred | $1,371 | Vermont Mutual | $621 |
| Alna | $1,323 | Vermont Mutual | $731 |
| Andover | $1,304 | Vermont Mutual | $704 |
| Anson | $1,364 | Vermont Mutual | $704 |
| Ashland | $1,197 | Vermont Mutual | $723 |
| Athens | $1,365 | Vermont Mutual | $704 |
| Auburn | $1,169 | Vermont Mutual | $689 |
| Augusta | $1,192 | Vermont Mutual | $689 |
| Aurora | $1,305 | Vermont Mutual | $731 |
| Bailey Island | $1,488 | Vermont Mutual | $680 |
| Bangor | $1,175 | Vermont Mutual | $689 |
| Bar Harbor | $1,305 | State Farm | $717 |
| Bar Mills | $1,342 | Vermont Mutual | $621 |
| Bass Harbor | $1,348 | Vermont Mutual | $731 |
| Bath | $1,328 | State Farm | $709 |
| Beals | $1,444 | Vermont Mutual | $731 |
| Belfast | $1,346 | Vermont Mutual | $731 |
| Belgrade | $1,298 | Vermont Mutual | $689 |
| Belgrade Lakes | $1,263 | Vermont Mutual | $689 |
| Benedicta | $1,223 | Vermont Mutual | $723 |
| Bernard | $1,348 | Vermont Mutual | $731 |
| Berwick | $1,455 | Vermont Mutual | $621 |
| Bethel | $1,315 | Vermont Mutual | $704 |
| Biddeford | $1,381 | State Farm | $678 |
| Biddeford Pool | $1,379 | Vermont Mutual | $680 |
| Bingham | $1,371 | Vermont Mutual | $704 |
| Birch Harbor | $1,348 | Vermont Mutual | $731 |
| Blaine | $1,187 | Vermont Mutual | $723 |
| Blue Hill | $1,271 | Vermont Mutual | $731 |
| Boothbay | $1,361 | State Farm | $720 |
| Boothbay Harbor | $1,363 | State Farm | $687 |
| Bowdoin | $1,415 | State Farm | $731 |
| Bowdoinham | $1,351 | Vermont Mutual | $731 |
| Bradford | $1,251 | Vermont Mutual | $689 |
| Bradley | $1,193 | Vermont Mutual | $689 |
| Bremen | $1,383 | State Farm | $712 |
| Brewer | $1,173 | Vermont Mutual | $689 |
| Bridgewater | $1,221 | Vermont Mutual | $723 |
| Bridgton | $1,377 | Vermont Mutual | $621 |
| Bristol | $1,351 | State Farm | $707 |
| Brooklin | $1,287 | State Farm | $715 |
| Brooks | $1,361 | Vermont Mutual | $731 |
| Brooksville | $1,297 | State Farm | $715 |
| Brookton | $1,468 | Vermont Mutual | $731 |
| Brownfield | $1,273 | Vermont Mutual | $704 |
| Brownville | $1,395 | Vermont Mutual | $704 |
| Brownville Junction | $1,387 | Vermont Mutual | $704 |
| Brunswick | $1,405 | State Farm | $677 |
Rates are for a policy with $350,000 of dwelling coverage.
What are the biggest risks for Maine homes?
House fires
Fire causes more damage to homes in Maine than any other type of damage. A little over half of all residential fires in Maine start in the kitchen, according to the state fire marshall. And about 14% of house fires start in the living room, where many people keep a wood burning or pellet stove. Furnace rooms account for over 7% of house fires.
Homeowners insurance typically covers these types of fires. However, your insurance company could deny your claim if it believes the fire started because you weren't being careful or didn't perform proper home maintenance. This is called "negligence."
Maine homeowners should service their heating equipment before winter, have their chimney and flues regularly inspected, properly clean wood stoves and make sure their fire alarms are in good working order to help prevent unnecessary damage.
Snow, ice and winter storms
Maine's winter weather can cause many types of home damage. Pipes in your home can freeze from the cold weather. Roofs can fail from the accumulated weight of snow and ice. Melting snow can cause ice dams on your roof, leading to water damage in your attic and inside your walls.
Homeowners insurance coverage usually includes damage caused by snow and winter weather.
However, coverage for frozen pipes can vary by policy. For example, you may need to add on underground line coverage for an exterior water supply or sewer line. Your policy may also not cover frozen pipes to a swimming pool or in an unheated part of your home.
Floods
Flooding causes some of the most expensive property damage in Maine. For example, severe storms in January 2024 caused more than $70 million in flood damage.
Homeowners insurance does not cover flood damage. So to protect yourself from having to pay for repairs yourself, you can buy a flood insurance policy.
Flood insurance from the National Flood Insurance Program (NFIP) costs an average of $1,353 per year in Maine. However, rates vary based on the chances your home will be damaged by a flood and the amount of coverage you need.
Wind
High wind is common across Maine, and both inland and coastal areas can get up to 70-mph winds that can topple trees and tear shingles off a roof.
Homeowners insurance policies cover wind damage. It also covers tree removal if one falls on your house during a storm. But your home insurance company may also ask you to do preventive maintenance by removing potentially dangerous trees.
How to get cheaper home insurance in Maine
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The best way to save on a policy is to compare home insurance quotes from multiple companies.
Each company calculates rates in different ways. So by getting multiple quotes, you can find the cheapest company for your home.
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Home insurance discounts can also help you save on home insurance.
You may be able to get a discount by installing smoke detectors, having security cameras, paying your bill on time, bundling with auto or motorcycle insurance and more. Maine home insurance rates have gone up 19% in the past five years. But you could save as much as 24% by bundling your home and auto insurance.
Change in Maine home insurance costs over time
Home insurance prices are up 19% in Maine over the last five years.
Maine homeowners have seen increases in their home insurance rates, with rate hikes of about 6% in 2023 and 7.5% in 2024.
Home insurance rate increases in Maine, 2021-2025
Year | Rate increase |
|---|---|
| 2021 | 1.01% |
| 2022 | 1.17% |
| 2023 | 5.96% |
| 2024 | 7.53% |
| 2025 | 2.81% |
Home insurance rate change data was compiled using RateWatch from S&P Global, which uses information from the National Association of Insurance Commissioners (NAIC).
Farmers had the biggest hike between 2021 and 2025 at a little over 46%, followed closely by Liberty Mutual at 45%.
On the other hand, State Farm and Allstate both lowered their home insurance rates over the last five years. State Farm's rates went down by 7%, while Allstate lowered rates by around 4%.
Frequently asked questions
How much is the average homeowners insurance in Maine?
The average cost of homeowners insurance in Maine is $1,280 per year for $350,000 of dwelling coverage. That's $107 per month.
What is the best homeowners insurance in Maine?
Vermont Mutual has the best homeowners insurance in Maine for most people. A policy costs $697 per year for $350,000 in coverage. That's 46% cheaper than the average rate in the state. Vermont Mutual also has very few customer complaints, which means it will likely take great care of you if your home is damaged in the future.
Which companies sell mobile home insurance in Maine?
Some of the top home insurance companies in Maine offer mobile home insurance, including Vermont Mutual, State Farm and Farmers. However, most companies don't offer mobile home quotes online, so you'll probably need to contact an insurance agent if you want to shop around.
Methodology
The best home insurance companies in Maine were selected based on ValuePenguin's expert analysis comparing customer satisfaction, affordability, reliability and coverage options.
Average rates are based on thousands of insurance quotes from every residential ZIP code in Maine, using the top home insurance companies in the state. Rates are for a 45-year-old married man with no prior insurance claims. Rates are for a 1,680 square foot home built 51 years ago, based on the average home age and size in Alabama.
Quotes include the following coverage limits:
- Dwelling coverage: $200,000, $350,000, $500,000 or $1 million
- Personal liability: $100,000
- Medical payments: $1,000
- Deductible: $1,000
Averages are based on $350,000 of dwelling coverage unless otherwise specified.
ValuePenguin's analysis used insurance rate data from Quadrant Information Services. Quadrant's rates were publicly sourced from insurer filings and should only be used for comparative purposes.
Additional sources include:
- J.D. Power customer satisfaction survey
- ValuePenguin's ratings
- National Association of Insurance Commissioners (NAIC)
- NOAA Storm Event Database
Sources
About the Author
Senior Writer
Lindsay Bishop is a Senior Writer at ValuePenguin, where she educates readers about home, auto, renters, flood and motorcycle insurance.
Lindsay began her career in the insurance and financial industry in 2010. She was a licensed auto, home, life and health insurance agent and held Series 6 and 63 financial licenses.
After a hiatus from the financial sector, Lindsay returned to the industry as a content writer for ValuePenguin in 2021. She enjoys having the opportunity to help readers make smart decisions about their insurance so they can be prepared for anything life throws their way.
When Lindsay isn't writing about insurance, you can find her spending time with family, enjoying the outdoors on Sunday long runs or riding her Peloton.
How insurance helped Lindsay
As a homeowner for 15 years located in South Carolina, Lindsay has plenty of experience navigating the coastal insurance market and managing the claims process. That includes successfully negotiating a full roof replacement claim.
Expertise
- Home insurance
- Car insurance
- Flood insurance
- Renters insurance
- Motorcycle insurance
Referenced by
- CNBC
- Yahoo Finance
- Miami Herald
Education
- BS/BA Economics, University of Nevada Las Vegas
Editorial Note: The content of this article is based on the author's opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.
