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The Best Homeowners Insurance Companies in Maine

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    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.

    1. State Farm
    2. Allstate
    3. Progressive
    4. American Family
    5. USAA

    Compare Maine’s Top Insurance Companies


    Average Price AM Best Financial StrengthJ.D. Power Overall Customer Satisfaction 
    State Farm$931A++829
    Allstate$846A+829
    ProgressiveN/AA+797
    American FamilyN/AA821
    USAA$976A++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.

    State Farm

    Best Web Experience

    Why we chose it

    Providing a high-quality customer experience is only one of State Farm’s strengths. It also offers good policy coverages with add-ons to allow you to customize your policy.
    • 3.75 Reviews Score
    • A++ AM Best Rate AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim.
    • 829* J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.
    • A BBB Rating The BBB rates companies based on trustworthiness and performance. The company uses a variety of factors, including how the company handles customer complaints.

    Why we chose it

    Providing a high-quality customer experience is only one of State Farm’s strengths. It also offers good policy coverages with add-ons to allow you to customize your policy.

    Pros

    • Financially strong
    • Excellent web presence
    • 19,000+ agents nationally
    • Informative blog

    Cons

    • Limited discounts
    • Higher premiums
    Read More

    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.

    Allstate

    Best for New Homebuyers

    Why we chose it

    Allstate’s discounts add up to lower premiums, making the company a good choice for anyone who’s looking to save a few dollars on their premium costs. Allstate is also generous in their coverage, providing up to $10,000 for accidental damage.
    • 4 Reviews Score
    • A+ AM Best Rate AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim.
    • 829* J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.
    • A+ BBB Rating The BBB rates companies based on trustworthiness and performance. The company uses a variety of factors, including how the company handles customer complaints.

    Why we chose it

    Allstate’s discounts add up to lower premiums, making the company a good choice for anyone who’s looking to save a few dollars on their premium costs. Allstate is also generous in their coverage, providing up to $10,000 for accidental damage.

    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
    Read More

    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.

    Progressive

    Best for Easy Online Quotes

    Why we chose it

    Progressive understands that one size doesn’t fit all when it comes to homeowners insurance. That’s why their price quote is tailored to your location and allows you to select the coverage you need.
    • 3.75 Reviews Score
    • A+ AM Best Rate AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim.
    • 797* J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.
    • A+ BBB Rating The BBB rates companies based on trustworthiness and performance. The company uses a variety of factors, including how the company handles customer complaints.

    Why we chose it

    Progressive understands that one size doesn’t fit all when it comes to homeowners insurance. That’s why their price quote is tailored to your location and allows you to select the coverage you need.

    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
    Read More

    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:

    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.

    American Family

    Best Discounts

    Why we chose it

    American Family has excellent customer service and unique features that makes it stand out from the others.
    • 3.75 Reviews Score
    • A AM Best Rate AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim.
    • 821* J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.
    • A+ BBB Rating The BBB rates companies based on trustworthiness and performance. The company uses a variety of factors, including how the company handles customer complaints.

    Why we chose it

    American Family has excellent customer service and unique features that makes it stand out from the others.

    Pros

    • Identity Theft Protection and Restoration
    • Convenient packages
    • Smart home discounts

    Cons

    • No online quotes
    Read More

    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.

    USAA

    Best for Military Members and Family

    Why we chose it

    USAA has earned a high reputation for quality and service within the military community. If you fit the demographic, getting a quote from USAA should be the first step in your search for great homeowners insurance.
    • 3.5 Reviews Score
    • A++ AM Best Rate AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim.
    • 878* J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.
    • A- BBB Rating The BBB rates companies based on trustworthiness and performance. The company uses a variety of factors, including how the company handles customer complaints.

    Why we chose it

    USAA has earned a high reputation for quality and service within the military community. If you fit the demographic, getting a quote from USAA should be the first step in your search for great homeowners insurance.

    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
    Read More

    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 MaineAverage 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.

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