The 4 Best Homeowners Insurance Companies in Maine

Lucky for homeowners in Maine, the state has one of the lowest premium rates in the country despite the harsh New England weather. The $866 average premium is $326 less than the national average of $1,192. Homeowners should find a policy that fits their budget and offers protection for things like flooding and frozen pipes, two common disasters affecting Maine homes.

We’ve surveyed the top homeowners insurance providers in Maine and outlined our picks for the most cost-effective and highest-value companies to insure with. In addition, we’ve also included an online quote tool so you can easily compare policies and accurate prices in your area before deciding.

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    In this article

      Our Top Picks for Best Homeowners Insurance in Maine

      • Liberty Mutual
      • The Hanover
      • State Farm
      • Progressive

      Liberty Mutual

      Liberty Mutual’s broad policy options, significant premium discount opportunities and customer-focused claims services make it one of the most popular options for homeowners insurance in Maine.

      J.D. Power Rating
      3/5
      AM Best Rating
      A
      Standard & Poor’s
      N/A
      SimpleScore
      4.4 / 5.0
      close
      SimpleScore Liberty Mutual 4.4
      Discounts 5
      Coverage Options 4
      Customer Satisfaction 3
      Support 5
      Accessibility 5

      Coverage options include personal property and liability insurance, additional living expenses if you are displaced from your home, and Home Protector Plus, which includes comprehensive coverage and benefits to allow full replacement of your property and dwelling. Inflation protection allows you to fix your home fully even when the price of repairs skyrockets.

      Liberty Mutual extends discounts to customers who bundle auto and home policies, install protective devices like fire alarms and sprinklers, and are insuring new or recently renovated homes. Customers who belong to one of Liberty Mutual’s 14,000 affiliate organizations have access to more savings and exclusive member benefits.

      If you experience a loss, Liberty Mutual makes recovering a hassle-free process. You can report a claim online or through the company’s 24/7 claims hotline. Should your home require immediate renovation after a disaster, Liberty Mutual’s Emergency Repair Service program will set you up with a reputable local contractor to carry out the maintenance necessary to restore your home to safety. Policyholders also have access to the company’s Catastrophe Center, an online educational resource that provides tips for safeguarding your home and efficiently recovering from any damage.

      The Hanover

      The Hanover offers home insurance with three distinct coverage packages, so you can select the amount of protection you feel most comfortable with for your living situation and budget. Customize the policy further by waiving your deductible or getting extra coverage for your plumbing, siding or roof.

      Each standard policy from The Hanover protects single-family homes and condos, and includes things like fire extinguisher replacement, roof restoration coverage, extended replacement cost for your dwelling and personal property, and lock replacement coverage. Add-on options include guaranteed replacement cost, equipment breakdown coverage for major home systems and appliances, as well as identity restoration services.

      Although The Hanover does not offer an online quote tool or much information on premium discount options, the company has hundreds of independent and local agents located across Maine. Use its agent locator to easily get in contact and determine whether insuring with The Hanover is the right decision for your home.

      State Farm

      State Farm is the largest provider of homeowners insurance in the country and is a popular option for Maine residents. State Farm offers coverage options for nearly every type of standard dwelling, be it a single-family home, condominium, manufactured home or farm/ranch.

      J.D. Power Rating
      3/5
      AM Best Rating
      A++
      Standard & Poor’s
      AA
      SimpleScore
      4 / 5.0
      close
      SimpleScore State Farm 4
      Discounts 2
      Coverage Options 5
      Customer Satisfaction 3
      Support 5
      Accessibility 5

      A baseline policy from State Farm protects any damage to your dwelling caused by fire, lightning, windstorm, hail, vandalism or theft. Add-on options include personal liability and injury coverage, identity restoration services, and extra protection for home businesses like day cares and home offices.

      In addition to offering extensive policy options, State Farm also has a world-class claims services department. In the event that you experience a loss and need to file a claim, you can do so via the company’s 24-hour reporting hotline, online, in person with a local State Farm agent, or by using the mobile app. You can even save money by bundling your home insurance policy with a State Farm auto policy. State Farm offers a number of claims management resources.

      Its blog on how to virtually catalog all of your possessions and their worth makes it easier to respond after a loss. Finally, State Farm’s Premier Service program can help you recover from a covered loss sooner by connecting you with reputable contractors in your area to make emergency repairs.

      Progressive

      Progressive offers comprehensive homeowners insurance coverage options in Maine at an affordable price. A standard policy protects damage to your dwelling and personal belongings, offers liability protection and pays medical bills incurred as a result of a covered loss.

      J.D. Power Rating
      3/5
      AM Best Rating
      A+
      Standard & Poor’s
      AA
      SimpleScore
      4.2 / 5.0
      close
      SimpleScore Progressive 4.2
      Discounts 3
      Coverage Options 5
      Customer Satisfaction 3
      Support 5
      Accessibility 5

      Optional coverage from Progressive includes increased valuables protection, a personal umbrella policy that offers up to $5 million against liability claims, and guaranteed replacement coverage for the complete repair of your home and its contents. Progressive can also pay for a new place to stay if your home becomes unlivable. It has a highly rated customer service department, making it easy to file a claim or ask a question pertaining to your policy.

      Progressive offers customers ways to save by extending premium discounts for bundling policies and installing security devices. However, the company is missing many popular options offered by competitors. If you are insuring a new or recently renovated home or have a long claim-free history, we would suggest factoring in potential savings you may receive from other homeowners insurance companies when comparing policies and prices.

      How much is homeowners insurance in Maine?

      Maine’s average annual homeowners insurance premium is one of the lowest in the nation, at only $866 per year. This number will be affected by local factors such as the cost of living in your area, whether you are in an urban or rural area, crime rates and natural disaster risk. Risk factors are discussed in the next section.

      Maine Rate Factors

      Maine’s natural disaster risk is comparatively low. The two main types of natural disaster in the state are snowstorms and ice storms, and on rare occasions, hurricanes. While things like wildfires, lightning and hail are possible, they rarely cause widespread damage here. This is part of the reason for the state’s relatively low premiums.

      Find the Best Home Insurance

      Save money on home insurance with our simple comparison tool.

      Matching you with providers.
      We found results in
      Click at least 2-3 companies to find the very best rate.

        The 4 Best Maine Homeowners Insurance Companies

        • Liberty Mutual
        • The Hanover
        • State Farm
        • Progressive

        Methodology

        SimpleScore

        The SimpleScore is a proprietary scoring metric we use to objectively compare products and services at The Simple Dollar.
        For every review, our editorial team:

        • Identifies five measurable aspects to compare across each brand
        • Determines the rating criteria for each aspect score
        • Averages the five aspect scores to produce a single SimpleScore

        Here’s a breakdown of the five aspect scores and their rating criteria for our reviews on home insurance.

        Why do some brands have different SimpleScores on different pages?

        To ensure the SimpleScore is as helpful and accurate as possible, we developed unique criteria for every category we compare at The Simple Dollar. Since most brands offer a variety of financial solutions, their products and services will score differently depending on what we’re scoring on a given page.

        However, it’s also possible for the same product from the same brand to have multiple SimpleScores. For instance, if we compare State Farm’s home insurance according to our criteria for the best home insurance, it scores a 3.8 out of 5. But when we compare State Farm according to the criteria for the best auto insurance, it scores higher, since the features the company offers can vary by the type of insurance.

        Discounts

        We looked at the number of discounts each company offers – more discounts mean a higher score.

        Coverage Options

        We awarded higher scores to the companies that offer more coverage options.

        Support

        We awarded higher scores to companies with the most channels for customer support.

        Customer Satisfaction

        We leveraged the J.D. Power 2019 Home Insurance Satisfaction Study℠ to see how customers rated their experience with each company. (If a company wasn’t included in J.D. Power’s study, we skipped this aspect and averaged the four remaining aspect scores.)

        Accessibility

        We looked at the level of accessibility of each company – the more resources they have the higher their score