Get Homeowners Insurance in Maine
Maine is known for its picturesque views – from its rocky coastline to its unique lighthouses lining the shore. If you live in Maine, you appreciate the warm months knowing how rough winter can be because as pretty as the Pine Tree State is, the weather can be brutal. Winters are known for extreme seasonal conditions. In fact, a National Climate Assessment says the Northeast sees more frequent or intense storms and more precipitation in the winter.
2 These weather events and other risks, like fires or theft, can result in damages to your home.
That’s why it’s important to protect your house and personal property with
homeowners insurance in Maine. It doesn’t matter if you live in Portland, Bangor, Augusta, Bar Harbor, Lewiston or anywhere else in the state, Maine home insurance through the AARP
® Homeowners Insurance Program from The Hartford
1 can help protect your home from significant financial loss.
Why Homeowners Insurance in Maine Is Important
Maine residents don’t typically see many natural disasters. However, East Coast storms can pose serious risks to your home. For example, hail, snow and freezing temperatures can damage your home’s structure or plumbing system. Without Maine homeowners insurance, you’d have to pay for these costly repairs out of pocket.
How Much Is Homeowners Insurance in Maine?
Home insurance companies look at different factors when determining your homeowners insurance premium, such as your:
- Home size
- Your home's location
- Claims history
Certain policy details, like whether you have replacement cost coverage, can also affect the price of your policy. Because every Maine homeowner has different needs, it’s unlikely that you and your neighbor will have the same homeowner insurance premiums.
Maine home insurance policies come with standard coverages:
Personal property to help protect your belongings if they get stolen or damaged. For example, if someone breaks into your home and steals your TV, this coverage can help cover the cost to replace it.
Dwelling, which helps protect your home and the structures attached to it. This includes garages, walls and electrical systems. For example, if a fire damages the first floor of your home, this coverage can help cover your repair costs.
Personal liability helps protect you from claims alleging that you’re responsible for someone’s bodily injury or property damage. For example, if your neighbor slips on a patch of ice on your sidewalk, injures their back and they then file a claim against you, this coverage can help.
Loss of use helps cover your living expenses if you can’t stay in your home due to a covered loss. So, if a tree falls on your roof and causes significant damage to its structure, this coverage can help cover your hotel fees while your home is repaired.
Medical payments helps pay treatment costs if someone gets injured on your property. So, if your neighbor trips over an extension cord in your home and sprains their ankle, this coverage can help pay their medical bills.3
Be sure you’re aware of your home insurance policy’s coverage limits. If you’re trying to figure out how much coverage to get, a good rule of thumb is to have enough that you can cover the costs to rebuild your home if it’s a total loss. Don’t forget the higher your coverage limits, the more it can impact your policy cost.
Additional Homeowners Insurance Coverages
Maine’s wet and cold seasons can cause flooding. However, your Maine homeowners insurance policy doesn’t cover against flood damage, so you may want to get a separate flood insurance policy to help cover these types of claims.
The AARP Homeowners Insurance Program from The Hartford offers additional coverages to increase your home’s protection, including:
Identity fraud expense coverage, which reimburses you for out-of-pocket expenses up to certain limits (see your policy for limits) to help you recover from identity theft or fraud.
Enhanced personal injury liability coverage to help cover damages from libel or slander claims.
“New for Old” Protection,‡‡ which helps replace your destroyed possessions with new ones of the same quality.
Reimbursement for replacing locks if you lose your keys or they’re stolen.
Homeowners equipment breakdown coverage to help cover mechanical or electrical breakdowns of your home’s appliances. Equipment breakdown coverage also provides coverage if you want to make “green” upgrades. It pays up to 125 percent of your cost to replace any covered equipment with items that are similar, but more energy efficient or environmentally friendly. Keep in mind this does not cover normal wear and tear.
Disappearing Property Deductible,‡‡ which reduces your deductible every year, when you go three consecutive years without an insurance loss.
Homeowners Insurance Rates in Maine
Your home insurance rate may be lower or higher than the state or national average because the total amount depends on which coverages you add to your policy. Take a look at the chart below to see how average home insurance rates in Maine have changed through the years, according to the Insurance Information Institute.4