Renters Insurance

The Best Cheap Renters Insurance in Maine

The Best Cheap Renters Insurance in Maine

Choosing the right renters insurance is about finding the insurer that balances affordability with protective, practical policy features and dependable service. To help you find the insurance company that's right for you, we obtained rates from several insurers in Maine.

Compare Cheap Renters Insurance in Maine

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The average cost of renters insurance in Maine is $13 per month, or $156 per year.

The cheapest renters insurance rates we found in Maine were about $10 per month, or $115 per year. While the cost of coverage varies depending on your insurer, renters insurance in Maine is usually affordable for most people. Below, we share the cheapest renters insurance company in the state and highlight a couple of other top providers.

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Affordability: Comparing the average cost of renters insurance across companies

The average cost of renters insurance in Maine is about $13 per month, or $156 per year. This means that renters insurance in Maine is generally more affordable than in other places in the U.S., according to our findings.

The cheapest renters insurance in Maine comes from State Farm, while the most expensive coverage is often found at Liberty Mutual.

A bar graph showing the average costs of renters insurance in Maine
A bar graph showing the average costs of renters insurance in Maine

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Insurance provider
Monthly cost
Annual cost
Difference from statewide average
State Farm$10$115-26%
Liberty Mutual$18$21236%

The cost of renters insurance is determined by a number of factors, including your location, your home's style or material and, primarily, the amount of coverage you purchase. With that in mind, we requested quotes with the following limits:

  • Personal property coverage: $30,000
  • Liability coverage: $100,000
  • Medical payments to others: $1,000

Your rates are also influenced by your personal information, like your age, marital status and your insurance history — including whether you've made claims in the past. For this reason, your rates may be different than even someone who lives in your neighborhood.

We requested rates based on the characteristics of a 30-year-old unmarried renter who owns no pets and has no history of either having insurance or making claims on lost or damaged property.


Best renters insurance for most people: State Farm

State Farm has the cheapest renters insurance in the state, along with a reputation for great customer service.
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The good:

  • Highly affordable rates, on average
  • Above-average customer service

The bad:

  • Offers modest extra policy features

Read the full review

The best renters insurance in Maine for most people is State Farm. On average, State Farm has the cheapest renters insurance in Maine by far. State Farm costs less than $10 per month, or about $115 per year. This is over 25% cheaper than the statewide average. Also, State Farm covers properties across Maine, even in areas near the water — which companies might view as riskier to insure — like Brunswick or Saco.

State Farm's customer service is highly rated, too. Despite its large size, State Farm receives far fewer complaints than its market share would suggest, according to the National Association of Insurance Commissioners (NAIC). Additionally, J.D. Power ranked the insurer the third-best among national competitors for its service and policy offerings.

Although State Farm offers the same protections that are commonly found with other renters insurance companies, there are few ways to increase your coverage. With State Farm, renters can add more protection to their high-value items and expand their liability coverage.

Best renters insurance for complete coverage: Travelers Insurance

Travelers offers many ways for policyholders to supplement their standard coverage.
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The good:

  • Robust optional extras
  • Receives few complaints for its size

The bad:

  • Price aligns with statewide average
  • Doesn't allow renters to pay monthly
Read the full review

Travelers Insurance has the best coverage for renters who want extra protection on top of their policy's standard offerings. However, the average cost of Travelers Insurance in Maine is nearly equal to the state's overall average. With the increase that comes from adding coverage in mind, budget-conscious renters might consider another insurer.

Besides offering personal property protection, liability coverage and safeguards in the event a tenant's home becomes uninhabitable, Travelers has the following endorsements:

  • Replacement cost coverage: Replaces your covered property for its full value without factoring in depreciation.
  • Water backup protection: Covers your home from damage sustained by backed-up drains and sinks, or malfunctioning sump pumps.
  • Mechanical breakdown: Enlarges the coverage afforded to appliances to include protections against mechanical and electrical failures.
  • Valuables plus: Increases the protection that your high-value items, such as jewelry or firearms, receive from your insurer.

Policyholders of Travelers Insurance are mostly satisfied with their coverage, according to the NAIC. Travelers receives fewer than half of the complaints expected for its size. Also, Travelers has an A++ "Superior" credit rating from AM Best, which means policyholders should not have to worry about the insurer failing to pay its claims.

Best renters insurance for seniors: Allstate

Allstate enables some seniors to reduce their costs significantly.
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The good:

  • Many ways to save money
  • Affordable rates for many renters

The bad:

  • Few ways to upgrade a standard policy

Read the full review

Allstate is the best renters insurance for seniors due to its discounts, which could save some seniors up to 25% on their premiums. Renters who are at least 55 and retired could heavily reduce their rates, especially if they can pair this discount with Allstate's others. The insurer also offers all people discounts for electing to pay bills electronically and remaining claim-free.

Even if you're not eligible for Allstate's discounts, coverage may still be affordable. The average cost of renters insurance from Allstate is $12 per month, or $148 per year. This is 5% cheaper than what's typically charged in Maine.

Like State Farm, Allstate offers industry-standard protections for property, liability and additional living expenses. Along with this basic coverage, policyholders have the chance to add identity restoration services and increase the protection for their high-value items.

How we chose the best renters insurance in Maine

We compared the following three qualities of each renters insurance company in order to find the best company in Maine:

  • Affordability: The amount most renters might expect to pay for coverage.
  • Policy features: The features, in addition to standard protections, that companies offer.
  • Customer service: The reputation for dependability that each insurer possesses.

Maine renters insurance rates: City-by-city breakdown

While obtaining quotes from Maine, we found the average cost of renters insurance in the state's largest cities. We compared these numbers to the typical cost of coverage statewide and tabulated them below. Generally, the cost of renters insurance in Maine is cheaper than it is nationally, but rates can vary by city.

In Maine, you're likely to find cheap renters insurance in Bath, while people living in Rumford might be charged more for coverage.

Monthly cost
Annual cost
Difference from statewide average
South Portland$13$151-22%
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Policy features: Evaluating the protections offered by each insurer

Usually, renters insurance includes coverage for damage to personal property, liability and loss of use expenses. Along with these standard forms of coverage, renters insurance companies provide different extra forms of coverage. The following table shows the extra forms of protection available with each insurer.

Personal property coverage
Personal liability
Water-backup coverage
Identity theft protection
Replacement-cost coverage
Valuables plus
State Farm$10,000 – more than $100,000$100,000 – $1 millionX-X-X
Liberty Mutual$5,000 – $25,000$100,000 – $1 millionX-XXX
Allstate$15,000 – more than $100,000$100,000 – $500,000--X--
Travelers$30,000 – more than 100,000$100,000 – $500,000XXXXX

Customer service: Assessing the quality of service offered by each insurer

We examined three measurements to find which renters insurance company in Maine offered the most dependable, well-regarded service. These were:

  • NAIC Complaint Index: The NAIC uses a Complaint Index to communicate the number of complaints an insurer receives relative to its market share, or size. As the number 1.00 signifies the expected number of complaints, a Complaint Index above this benchmark means that the provider receives more complaints than expected.
  • J.D. Power Homeowners Insurance Study - Renters Insurance: J.D. Power polled policyholders of the nation's largest renters insurance companies to rank each insurer according to its price, policy offerings and claims service. The insurers were given a rating out of five depending on the feedback J.D. Power collected.
  • A.M. Best's Financial Strength Ratings: A.M. Best's credit ratings communicate the ability of an insurance company to meet its financial obligations, such as its claims, in times of economic contraction or after a catastrophic event.
NAIC Complaint Index
J.D. Power score
A.M. Best Financial Strength Rating
State Farm0.354/5A++
Liberty Mutual0.652/5A


We found the best renters insurance in Maine by collecting 100 rates from across the state. We received quotes for policies with $30,000 of personal property protection, $100,000 of liability coverage and $1,000 of medical payments to others. These rates reflect those for a 30-year-old unmarried renter with no pets or history of making insurance claims.

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.