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Home Insurance and Car Insurance in Maine
If you’re shopping for home and auto insurance coverage for your home or vehicle in Maine, you should know that comparing rates and bundling coverage can save you hundreds of dollars per year. Whether you’re trying to save money on coverage or have questions as a first-time homebuyer, SelectQuote can help you find the right amount of coverage to fit your needs and budget.
Homeowners Insurance in
Whether you live along the coast, enjoy the scenic views of rural Maine or live in Portland or Augusta, home insurance is one of the best investments you can make. Home insurance allows you to protect your home and your property in the event of a catastrophe. It can also be helpful in the aftermath of a burglary or other loss. Finding affordable home insurance is often as simple as comparing quotes from trusted carriers, but you’ll need to know the different types of coverage available and what makes sense for your situation.
Homeowners Insurance Coverage Options in
Most homeowners insurance policies in Maine will include most (if not all) of the following types of home insurance coverage:
- Dwelling coverage is a standard policy that covers the actual physical structure of your home. If you have an attached garage or other structure, this will be covered as well.
- Personal property coverage works to cover your household belongings. If it’s inside or outside your home, it is covered.
- Personal liability coverage protects you in the event that someone is injured on your property and you’re found at fault. It also covers damage to another person’s property.
- Guest medical protection coverage exists to cover people who are injured on your property, regardless of who may be at fault.
Common Causes of Loss in
The recommended types of home insurance you should purchase in Maine will vary based on risks. Most homeowners in Maine face specific common causes of loss, including:
- Water damage due to flooding and sump pump or sewer backups. This costly damage usually isn’t covered under traditional insurance policies.
- Wildfire damage: Maine does have some varied terrain including forests, which means wildfires can and do happen in the state.
Additional Coverage Options Recommended for Homeowners
Maine homeowners should consider insurance coverage to help supplement their standard home insurance policy. The following additional coverage types are recommended for most homeowners:
- Flood insurance coverage: Often sold separately from other home insurance policies, flood insurance offers additional protection should your home face damage due to floods. Some mortgage lenders may require you to purchase this type of insurance based on your home’s location. It can often be purchased from your insurance company or through FEMA’s National Flood Insurance Program.
- Water backup coverage: Water backups happen when sump pumps or sewers fail to keep up with heavy rains and the water backs up into your basement.
- Wildfire coverage: Check to ensure wildfires are covered under your Maine home insurance policy. If not, you may want to purchase this additional coverage.
Our Home Insurance Partners in
SelectQuote partners with several leading home insurance companies to offer competitive rates on coverage. We can help you compare policies and rates from dozens of companies that offer home and auto insurance in Maine.
What is the average home insurance cost in ?
The average monthly premium for home insurance in Maine is $78.29,+ but your rates may vary based on where you live, the type of home you own, the policy limits you’ve set and any additional riders or coverage you’ve chosen to purchase.
Homeowners Insurance Discounts in
Several home insurance discounts are available for Maine policyholders. You may be eligible for discounts based on some of the following factors:
- Professional discounts
- Age of your home
- Security system installation
- Bundled home and auto insurance policies
Bundle Your Home and Auto Insurance to Save Money
One of the best discounts you might be eligible for is to save hundreds of dollars by bundling your home and auto insurance policies through one carrier. SelectQuote customers can save nearly $700 per month when they bundle home and auto insurance policies.
Average Home and Auto Insurance Rates in
The following rates are average premiums paid by real SelectQuote customers in different cities throughout Maine. Rates vary based on location, age, credit rating and other factors.
| City | Avg. Monthly Home Insurance Rate | Avg. Monthly Auto Insurance Rate | Avg. Monthly Rate of Bundled Policies |
|---|---|---|---|
| Portland | $91.00 | $65.90 | $147.00 |
| Lewiston | $85.46 | $60.13 | $116.42 |
| Bangor | $34.50 | $96.44 | NA |
| South Portland | NA | $136.83 | NA |
| Auburn | $63.98 | $86.75 | NA |
Average monthly rates are from effective SelectQuote customer policies between 4/1/2022 and 3/31/2023.
Auto Insurance in
Maine drivers should purchase auto insurance to help protect them from financial liability in the event of a car accident. Maine insurance companies reported roughly $475,000 in expenditures in 2019.1 While that is less than many other states—in fact, Maine boasts the lowest average auto insurance prices per year2—it’s still a sizable amount of money to help cover the costs of repairs and medical bills after an auto accident.
Of course, liability insurance coverage isn’t the only type of auto insurance you can buy. Because Maine requires all drivers to carry specific auto insurance coverage, you’ll want to know exactly what kinds of insurance are available and how much you need to buy.
Auto Insurance Laws and Requirements
Liability insurance is only one of several different types of auto insurance coverage:- Liability insurance pays for damages caused by you if the accident is your fault. It will also pay for medical bills incurred by the other driver or their passengers. Maine requires drivers to have $50,000 of coverage for injuries per person, up to $100,000 per accident. It also requires $25,000 of coverage for property damage.3This coverage, known as 50/100/25 coverage, is the bare legal minimum for Maine drivers.
- Uninsured/underinsured motorist coverage pays for medical expenses when the other driver is at fault and doesn’t have sufficient insurance coverage. Maine requires all drivers to carry $50,000 per person and $100,000 per accident. Maine law does require you to equal your liability limit if it is higher than the minimum, unless you reject it in writing.
- Medical payments coverage can help pay for medical expenses or funeral expenses for you or your passengers. Maine requires you to carry a minimum of $2,000 per person. Higher limits are available at an inexpensive additional cost.
- Collision coverage helps cover expenses for your vehicle if it is damaged in an accident.
- Comprehensive coverage can help pay for repairs or replacement for vehicles that are stolen or damaged by storms, vandalism or animals.
All data on average expenditures is provided by the Insurance Information Institute.
| Types of Coverage | Minimum State Requires |
|---|---|
| Bodily Injury Liability | $50,000 per person/$100,000 per accident |
| Property Damage Liability | $25,000 |
| Uninsured Motorist | $50,000 per person/$100,000 per accident |
| Underinsured Motorist | $50,000 per person/$100,000 per accident |
| Personal Injury Protection | $2,000 per person |
| Collision | Not required |
| Comprehensive | Not required |
| Gap Insurance | Not required |
Teen Driving Laws
Like many other states, Maine law requires all new drivers under 18 years of age to obtain a graduated license.4 This includes restrictions until the driver turns 21. For drivers under 21, a learner’s permit is required. All drivers under the age of 18 will have an intermediate license that allows them to drive, but prohibits them from driving a vehicle while using a mobile device and driving between the hours of 12 a.m. and 5 a.m. It also prohibits them from carrying passengers who are not immediate family members unless accompanied by a licensed driver.
Car Registration Information
The process of registering your vehicle in Maine is different5 depending on how you purchased your vehicle. Private sales require different documentation and fees—including for titling the vehicle—than if you buy it from a dealer. All Maine vehicle registrations require documentation proving ownership as well as proof of auto insurance, often in the form of a policy document, insurance card or binder.
What is the average car insurance cost in ?
The average cost of car insurance for Maine drivers is $99.45,+ but that amount varies based on different factors. The age, make and model of your vehicle can help determine your rates. Drivers in certain ZIP codes may pay more. Driving history and your average daily vehicle use can impact the premiums you pay, too.
Our Car Insurance Partners in
SelectQuote works with trusted, highly rated auto insurance companies to find you affordable coverage for your budget. If you have questions about Maine auto insurance laws or specific carriers, we can help answer them. Call today.
Home and Auto Insurance Frequently Asked Questions
Common questions related to home and auto insurance in Maine include:
Do you need car insurance in Maine?
All Maine drivers are required to purchase auto insurance to cover them in the event of an accident in which they’re at fault. This insurance, called liability coverage, has minimum limits per person and accident.
What is the average cost of car insurance in Maine?
The average cost of car insurance in Maine is $99.45+ per month for SelectQuote customers, but that rate can vary.
Do I need renters insurance in Maine?
Renters insurance isn’t required in Maine, but it is a good idea to have some. Renters insurance is often affordable and will help pay for damages to your belongings if your rental home is damaged or destroyed.
Do I need mobile home insurance in Maine?
Mobile home insurance is different from traditional homeowners insurance. Many insurance companies will not allow mobile home owners to purchase a traditional policy. In these cases, they must buy a specific mobile home policy instead.
SelectQuote can shop home or auto Insurance to save you time and money.
Whether you’re a first-time homebuyer looking to satisfy mortgage requirements or you’re shopping around for a better rate on car and home coverage, SelectQuote can help you save time and money. Bundle your coverage with one carrier and save hundreds of dollars per year! Call us today and let us shop for Maine auto and home insurance to meet your specific budget and needs.
Sources
- https://www.iii.org/publications/a-firm-foundation-how-insurance-supports-the-economy/a-50-state-commitment/incurred-losses-by-state
- https://www.iii.org/fact-statistic/facts-statistics-auto-insurance
- https://www.maine.gov/pfr/insurance/consumers/auto-insurance/insurance-required-by-law
- https://www.maine.gov/sos/bmv/licenses/graduatedlic.html
- https://www.maine.gov/sos/bmv/registration/passenger.html#pdeal
+Average rates calculated are based on effective SelectQuote customer policies in Maine between 4/1/2022 and 3/31/2023. Rates will vary based on level of coverage, location, age, and additional determining factors.
