Maine insurers with the highest market share include Metropolitan Insurance, Vermont Mutual Insurance, and Patriot Insurance.
To help you find the best homeowners insurance companies in Maine, we applied more stringent factors to find providers that offer a winning combination of financial strength, coverage options, customer support, discounts, and price.
The companies we chose and reviewed below include State Farm, Allstate, Progressive, American Family, and USAA. All are top contenders in the 2020 J.D. Power Home Insurance Study.
The 5 Best Homeowners Insurance Companies in Maine
In our search for the best Maine homeowners insurance, we found five companies that meet our demanding standards of financial stability, customer support, and price.
Compare Maine’s Top Insurance Companies
| Average Price | AM Best Financial Strength | J.D. Power Overall Customer Satisfaction | |
| State Farm | $931 | A++ | 829 |
| Allstate | $846 | A+ | 829 |
| Progressive | N/A | A+ | 797 |
| American Family | N/A | A | 821 |
| USAA | $976 | A++ | 889 |
Best Maine Homeowners Insurance Companies
State Farm
State Farm offers above-average customer support along with competitive pricing and solid coverage options. For those new to home ownership, its Simple Insights blog can tell you everything you need to know about home ownership in general.
Best Web Experience
Why we chose it
Why we chose it
Pros
- Financially strong
- Excellent web presence
- 19,000+ agents nationally
- Informative blog
Cons
- Limited discounts
- Higher premiums
Discounts available
- Multiple policy discount
- Fire, smoke, or burglar alarms discount
- Impact-resistant roof discount
Unique features
State Farm’s comprehensive website makes it easy to get a detailed quote in minutes. You can also pay your bill, file and manage a claim, and handle most maintenance tasks either online or via the company’s app.
*J.D. Power 2020 Home Insurance Customer Satisfaction Survey, based on a 1,000-point scale
Further Reading on State Farm:
Allstate
Allstate’s strength is in the diversity of its offerings and discounts, which allow you to pick and choose the coverage that works best for your circumstances. It has a great website, with tons of useful information.
Best for New Homebuyers
Why we chose it
Why we chose it
Pros
- Diverse discount opportunities
- Informative website and digital tools
- Above-average customer service
Cons
- High number of complaints on NAIC complaint index
- Financial strength rating good, but not great
Discounts available
- Early signing discount
- Home buyer discount
- Hail-resistant roof discount
Unique feature
- Allstate’s discount list is longer than most national insurers. You could save up to 10% on your premiums if you sign up for your new policy at least 7 days before the current one expires.
*J.D. Power 2020 Home Insurance Customer Satisfaction Survey, based on a 1,000-point scale
Further Reading on Allstate:
Progressive
Progressive is widely known for its iconic commercials and promises to help you find the best insurance rates. With Progressive, you can get coverage for common, broad, and special perils.
Best for Easy Online Quotes
Why we chose it
Why we chose it
Pros
- Access to an online quote tool
- Service available in all 50 states
- Several discounts available
Cons
- Insurance quotes vary based on home location and condition
Discounts available
- Save 10% by bundling home and auto insurance
- Discount for owning an alarm system
- Discount for going paperless
Unique features
- You can bundle your Progressive auto and home insurance to save on your premiums.
*J.D. Power 2020 Home Insurance Customer Satisfaction Survey, based on a 1,000-point scale
Further Reading on Progressive:
- Progressive homeowners insurance review
- Progressive renters insurance review
- Progressive auto insurance review
American Family
American Family’s optional Identity Theft Protection and Restoration coverage, convenient home insurance packages, and smart-home discounts contribute to its position on our top providers list.
Best Discounts
Why we chose it
Why we chose it
Pros
- Identity Theft Protection and Restoration
- Convenient packages
- Smart home discounts
Cons
- No online quotes
Discounts available
- Multiple policies discount
Unique features
Identity theft protection and restoration
*J.D. Power 2020 Home Insurance Customer Satisfaction Survey, based on a 1,000-point scale
Further Reading on American Family:
USAA
Like Amica, USAA appears at the top of rating lists for its excellent customer service, comprehensive policies, and fair prices. The only catch is that you must be a current or former member of the military community to purchase a policy — but if you are, the company should be your first stop.
Best for Military Members and Family
Why we chose it
Why we chose it
Pros
- Outstanding customer service
- Policies tailored to military family needs
- Competitive pricing
Cons
- Only available to current and former military members and their families
- Limited discounts
Discounts available
- Save 10% if you bundle with auto
- Claims-free 10% discount
- Home security system discount
Unique features
USAA’s policies are written with service men and women in mind. This means they have details that anyone in the military can appreciate, such as full coverage for uniforms for active duty or deployed members.
*J.D. Power 2020 Home Insurance Customer Satisfaction Survey, based on a 1,000-point scale
Further Reading on USAA
Average Cost of Homeowners Insurance in Maine
The average cost of homeowners insurance in Maine is $882, according to the Insurance Information Institute (III). The average cost in the United States is $1,211, so Maine is on the lower side. In fact, only eight states have less expensive premiums, making Maine one of the cheapest for homeowners insurance in the country.
Home Insurance Add-Ons That Will Further Protect You
Many homeowners need more coverage than their standard home insurance policies provide. Maine insurers offer a variety of optional coverage options, including:
- Additional personal property coverage – Additional personal property coverage picks up where your standard policy falls short. For example, if your standard policy limits jewelry claims to $2,500, you could purchase additional personal property coverage to cover a $10,000 wedding ring.
- Business property coverage – Your standard policy likely will cover items such as laptops and printers, but if you work from home and have expensive equipment, you might need to consider optional business property coverage.
- Electronic data recovery – When your computer’s hard drive takes a dive, electronic data recovery coverage can help pay the cost of retrieving your data.
- Flood insurance – Few standard policies cover damages caused by floods. Nonetheless, many carriers offer optional flood insurance. If your provider doesn’t offer the coverage, you can purchase a policy through the National Flood Insurance Program.
- Garden and yard coverage – If your property features expensive landscaping, consider purchasing garden and yard coverage.
- Identity theft protection – Many insurers offer optional identity theft protection, and some include it in their standard home insurance packages.
- Replacement cost coverage – Many standard home insurance policies only pay actual cash value for destroyed dwellings or damaged personal property. But if you purchase replacement cost coverage, you can rebuild your home or replace damaged or stolen belongings at current costs.
- Water backup coverage – If a sewer blockage floods your home, your standard home insurance policy probably won’t pay for the damage, but water backup coverage will.
The Cheapest Homeowner Insurance Companies in Maine
| Largest Companies by Market Share in Maine | Average Annual Premium |
| Metropolitan Insurance | $371 |
| Vermont Mutual Insurance | $480 |
| Patriot Insurance | $569 |
| Northern Security Insurance | $579 |
| Concord General | $654 |
| Allstate | $846 |
| MMG Insurance | $901 |
| State Farm | $931 |
| Nationwide | $932 |
| USAA | $976 |
| The Hanover | $1,005 |
| Union Mutual Fire Insurance | $1,025 |
| Patrons Oxford Insurance | $1,057 |
| Chubb | $1,117 |
| Encompass | $1,342 |
Cost of Homeowners Insurance by Age of Home
| Age of Home (years) | Sample Annual Premium |
| 5 years | $902 |
| 20 years | $1,092 |
| 35 years | $1,133 |
| 50 years | $1,143 |
| Average | $1,068 |
Top 3 Cheapest Homeowners Insurance Companies in Maine
- Metropolitan Insurance – $371
- Vermont Mutual Insurance – $480
- Patriot Insurance – $569
Top 3 Most Expensive Homeowners Insurance Companies in Maine
- Encompass- $1,342
- Chubb – $$1,177
- Patrons Oxford Insurance – $1,057
Helpful Resources for Maine Homeowners
There are some helpful resources for Maine homeowners. HUD has programs to help you in homeownership in Maine. HUD has statewide, regional and city-specific programs. They have home buying programs that can help assist you with your down payment and closing cost, including a wide variety of other assistance programs.
The Maine State Housing Authority helps you with the steps you need to complete to buy your home, including providing a homebuyer education class, showing you how to check your credit, helping you figure out how much you can afford, helping you find a lender and a home, making an offer, getting a home inspection, getting homeowner’s insurance, and how to close your loan.
Homeowners Insurance FAQ
Is homeowners insurance required in Maine?
No. Maine law doesn’t require you to buy home insurance, but if you finance a property your lender will.
What is the cheapest homeowners insurance in Maine?
The lowest average annual home insurance premiums we’ve found in Maine include Metropolitan Insurance at $371, Vermont Mutual Insurance at $480, and Patriot Insurance at $569.
Methodology
We evaluated the companies based on their customer rating and experience, financial stability, and coverage to determine the best providers. To compare home insurance companies across the board, we then calculated a Reviews.com score based on the following:
- Customer Ratings — Customer ratings are an indication of satisfaction with the process of filing a claim. We measured this using J.D. Power Homeowners Satisfaction ratings.
- Coverage — As there isn’t one company to fit everyone’s needs, we evaluated companies by the amount of coverage options and add-ons available.
- Confidence — It is extremely important for insurance companies to fulfill customers’ claims. Companies with sound financial strength will not have issues paying out claims, regardless of the amount. However, companies with weak financial strength might not be able to pay out claims. We measured this using AM Best’s ratings, which specializes in assessing the financial strength of insurance companies.
- Customer Experience — The amount of complaints a company receives is an indicator of the overall customer experience as it expresses dissatisfaction. We have based this measure on the NAIC National Complaint Index.
About the Authors
Nicky LaMarco is a business and finance writer. Her work has been published in Reviews.com, The Simple Dollar, Interest, Bizfluent, and Houston Chronicles.
