Maine is often called the Pine Tree State or Vacationland. Therefore, it's one of the top choices for investors. If you own property in this area, you'll find renters who want to live in your home. This is great for your wallet, but it also comes with risks, such as "nor'easters" and bad storms.

Protecting your investment is crucial, and you wonder what insurance options will be best. Is homeowners insurance required? The state doesn't make you get it, but your mortgage lender might.

There are various options for homeowners insurance in Maine, so it's crucial to choose the best one. However, that's hard when comparing insurance premiums and coverage, which is why we created this guide.

We focused on the top companies in Maine to help you find an appropriate homeowners policy. Likewise, you'll enjoy tips for choosing homeowners insurance and more. Let's get started!

Understanding Maine Homeowners Insurance

When should you get Maine home insurance as a property manager or landlord? It seems there are other or better options for personal liability coverage, but it can be beneficial. In fact, it's often your first line of defense when something goes wrong. You never know when a huge storm will blow up and cause damage to the home's structure, and home insurance can protect your investment.

Average Home Insurance Costs in Maine

Maine home insurance rates can vary significantly based on the coverage you require and your chosen insurance agent. However, according to Quadrant Information Services, the average cost is $947/year for a dwelling coverage of $250,000. For comparative purposes, the national average is $1,428.

While home insurance in Maine is far below that nation's average, those in the state pay higher than average than people in surrounding states. For example, New Hampshire homeowners pay roughly $736/year, and Vermont homeowners only pay $658/year.

Typically, the average rate is what it is because most of Maine is remote and forested. This could require more time to find workers and get materials for home repairs. Likewise, Maine sees Atlantic Ocean weather events, which can impact the residents.

Homeowners Insurance vs. Landlord Insurance

Landlords and property managers should understand the difference between landlord and Maine homeowners insurance coverage.

Homeowners insurance might not be enough when renting the property because it only protects personal property and the home's structure. Landlord insurance, on the other hand, offers specialized coverage. It extends past the property itself to cover the potential loss of rental income and any liabilities caused by accidents.

Choosing the right type of insurance will protect you fully against the unique risks you face as a landlord or property manager. However, most insurance policies have conditions and limitations. Therefore, you must accurately represent how you're using the home.

Here are a few instances where you might require homeowners insurance and not landlord insurance:

  • Vacant Property - You own a rentable property, but it's currently vacant. A homeowners insurance policy could protect your personal belongings and the property. However, some companies put in no-vacancy clauses, which might not work in your favor.
  • Home Sharing - You rent a portion of the primary residence out to another party. The homeowners policy might provide home-sharing coverage to protect you. However, it might not be enough, so you should work closely with your insurer to ensure adequate coverage.
  • Transition Period - You have lived on the property for a while and now want to turn it into a rental. This transitional period requires protection, and homeowners insurance could be the right choice.
  • Temporary Absence - You could move out of the property while you're on vacation or traveling for work. In this case, you might rent it out, so homeowners insurance could be beneficial. Make sure you discuss the details with your insurer to get appropriate coverage.

How to Choose a Maine Homeowners Insurance Company

Choosing a home insurance company is the next step once you've realized that's what you require. Here are some tips to help you:

Unique Maine Homeowners Insurance Policy Needs

Most homeowners insurance policies include protection for your dwelling and separate structures, loss of use, personal property, and liability coverage. If something in the home was damaged, you are covered.

However, most companies also offer other home insurance coverage options, such as:

Flood Insurance

You might have to get a flood insurance policy if your home is in the Special Flood Hazard Area. Likewise, a federally regulated lender might want you to get it. Even if it's not required, you may still wish to have it.

Though you can shop through the National Flood Insurance Program, most Maine homeowners insurance companies offer it as endorsements or riders (add-ons).

Earthquake Insurance

As a Maine homeowner, you're not required to purchase Earthquake insurance. However, earthquake damages aren't likely included in your policy. Therefore, you may want to get it as an add-on with other insurance products.

Identity Theft Protection

Maine saw more than 1,000 identity theft reports in 2021 alone. Therefore, you might want to look at your Maine homeowners insurance policy to see if identity theft protection is included. This will help with audits, criminal charges, civil judgments, and hearings related to fraud by the impostor.

Water Backup Coverage

Water backup often happens when the sump pump can't keep up with rainfall, causing water to enter the basement. However, it can occur with any sewer or drain line. Therefore, you might want to protect yourself with this endorsement coverage.

Other Factors to Consider When Assessing Maine Homeowners Insurance Companies

When choosing a home insurance policy, make sure you follow these steps:

  • Consider your needs.
  • Research the companies available.
  • Compare coverages.
  • Consider costs.
  • Evaluate each brand's financial strength.
  • Focus on customer satisfaction/service.
  • Ask about discounts.
  • Get recommendations from others.
  • Review your policy.

Best Cheap Home Insurance Companies in Maine

Are you ready to learn of the top choices for Maine homeowners insurance? Here are the five best companies:

1. Amica


Amica homeowners policies will cover damage to the house from a qualified event, including wind, lightning, and fire. You'll find various insurance coverage options, including liability and personal property coverage. Let's learn more!

Coverage and Features

The Standard Choice policy from Amica provides basic coverage for the home, including:

  • Liability protection
  • Loss of use
  • Personal property
  • Dwelling and other structures

You can also select the Platinum Choice option, which includes the basic coverages above and separately purchased coverages, such as:

  • Personal property replacement
  • Dwelling replacement cost
  • Medical payment and liability coverage
  • Water backup and sump overflow
  • Business property coverage
  • Extended coverage for valuable items
  • Credit card coverage
  • Identity theft protection
  • Special computer coverages

One good thing about Amica is that it has a dividend policy for some states. You could get five to 20 percent of your annual premium returned to you each year.


Most companies offer discounts for various things, and Amica is no different. Here, you can save money by qualifying for and using these discounts:

  • Claim-free discount
  • Autopay discount
  • E-discount
  • Home credits for new or remodeled homes
  • Loyalty discounts
  • Automatic detection device discounts
  • Multi-line discounts, when you bundle home and auto policies
  • Alarm system discounts

2. State Farm

State Farm

State Farm policies will cover the house, detached structures, and your personal property against damages. This includes jewelry, electronics, and more. Here's a deeper look into the brand:

Coverage and Features

When you choose State Farm, you receive the basic package, which offers:

  • Medical payments
  • Personal liability coverage
  • Dwelling and other structures
  • Personal property
  • Additional living expenses (ALE)

There are other additional coverages available, such as:

  • Identity restoration coverage, which reimburses for identity theft without covering fraud or cyber losses
  • Cyber event, fraud loss, and identity restoration coverage, which does a bit more than the above-mentioned option
  • Valuable possessions, which insures your fine art and valuable jewelry
  • Inflation guard, which boosts dwelling coverage to account for construction cost rises
  • Ordinance or law, which covers the rebuilding or repairing of your home to meet current building codes


Saving money is easy with State Farm, and you can find these discounts:

  • Claims-free discount
  • Better roofing discount
  • Multi-policy discount
  • Automatic sprinkler discount
  • Home security discount

3. Allstate


Allstate home insurance covers damages to your personal property and the home's structure, but it also offers other coverage options, such as guest medical expenses and liability.

Getting a Maine homeowners insurance policy is beneficial, but the brand also sells renters, life, and car insurance products. Let's learn more about it.

Coverage and Features

With homeowners insurance from Allstate, you'll get these perks:

  • Liability protection
  • Dwelling coverage
  • Guest medical protection
  • Personal property coverage

There are many add-on options available, such as:

  • Scheduled personal property
  • Personal umbrella policy
  • Business property protection
  • Flood insurance
  • Water backup
  • HostAdvantage
  • Identity theft restoration
  • Green improvement reimbursements
  • Musical instruments coverage
  • Sports equipment coverage
  • Electronic data recovery
  • Yard and garden


The discounts you can get with Allstate include:

  • Responsible payment discounts
  • Easy pay plan
  • Home buyer discount
  • Multi-policy discount
  • Welcome/loyalty discounts
  • Claim-free discounts
  • Early signing discount
  • Protective device discount

4. Liberty Mutual

Liberty Mutual

With Liberty Mutual, you can protect your personal property and house, but there's also personal liability protection. Various discounts are available, and it might be the best homeowners insurance company out there. Let's dive deeper and learn more!

Coverage and Features

A standard policy at Liberty Mutual includes:

  • Personal property
  • Dwelling and other structures
  • ALE (additional living expenses)
  • Medical and liability protection

There are add-ons available, including:

  • Inflation protection, which adjusts your coverage limits when you renew the policy
  • Umbrella coverage, with higher limits
  • Blanket jewelry coverage
  • Personal property coverage
  • Earthquake and flood coverage
  • Hurricane coverage
  • Water backup/sump overflow


You can get many discounts from Liberty Mutual, including:

  • Claims-free discount
  • Multi-policy discount
  • Safe homeowner discount
  • Newly purchased home discount
  • Insured-to-value discount
  • Early shopper discount
  • Preferred payment discount
  • New and renovated home discount
  • Paperless policy discount
  • New roof discount

5. Nationwide


When you choose a Nationwide home policy, you'll get coverage for your personal property, dwelling, detached structures, and even loss of use. There are ways to customize it to meet your needs, as well. Let's learn more about it.

Coverage and Features

With home insurance from Nationwide, you'll get this standard protection:

  • Ordinance/law insurance
  • Guest medical payments
  • Personal liability
  • Dwelling and other structures
  • Personal property
  • Credit card insurance
  • Loss of use

You'll find additional coverages with separate payments for:

  • Valuables
  • Water backup
  • Dwelling replacement cost
  • Identity theft protection
  • Better roof replacement
  • Brand new belongings
  • Flood and earthquake insurance


Here are the discounts you can get from Nationwide:

  • Smart home discounts
  • Prior insurance discounts
  • New home purchase discounts
  • Claims-free discount
  • Multi-policy discounts
  • Protective devices
  • Gated community
  • Roof rating
  • Home renovations

Other Notable Maine Home Insurance Companies

Though the home insurance options listed above are the top choices, here are a few others to consider:

  • Travelers
  • The Hanover
  • Chubb
  • Progressive
  • Farmers Insurance


As a Maine homeowner, you enjoy having property in Vacationland. However, you're also a landlord, so you must protect your investment.

Choosing homeowners insurance in Maine can help you get peace of mind, and many companies are available. Make sure the one you select meets your specific needs!

Frequently Asked Quesitons

David is the co-founder & CMO of DoorLoop, a best-selling author, legal CLE speaker, and real estate investor. When he's not hanging with his three children, he's writing articles here!

Legal Disclaimer

The information on this website is from public sources, for informational purposes only and not intended for legal or accounting advice. DoorLoop does not guarantee its accuracy and is not liable for any damages or inaccuracies.