Homeowners Insurance in Lewiston, ME

Experts break down home insurance costs, coverages, companies, and more for property owners in Lewiston, Maine.

Classic American house with fence and green grass during spring. How to Find the Best Homeowners Insurance in Lewiston, Maine.

More than 36,000 people live in the City of Lewiston. Whether you have lived here your whole life or you recently moved to this New England city for a job or because of its affordable housing, if you own your house, you can protect the investment you have made in it with a good homeowners insurance policy.

Local independent agents are free to work with some of Lewiston’s most highly rated insurance companies as they shop around to find you the best and most affordable coverage. Contact an independent insurance agent near you to start comparing a selection of customized homeowners insurance quotes.

What Is Homeowners Insurance and Is It Required in Lewiston, ME?

Homeowners insurance or, more simply, home insurance, is a policy that protects you against losses related to liability lawsuits and covers your house and property in times of trouble.

Although this insurance is not required by law, your lender will want you to carry it if you owe money on a mortgage or a home equity loan. Whether or not you are required to have it, home insurance is highly recommended since it protects the investment you have made in one of your most valuable assets.

How Much Does Homeowners Insurance Cost in Lewiston, ME?

Overall, homeowners insurance rates in Maine are much lower than the national average, and in Lewiston, rates are even lower. This is great news for area residents looking for an affordable policy.

  • National average yearly premium: $1,211
  • Maine average yearly premium: $882
  • Lewiston average yearly premium: $839

Your actual rate may be higher or lower than this average. Insurance companies base premiums on several factors, such as:

  • Your home’s age, rebuild value, size in square feet, and construction materials
  • The estimated value of your personal property
  • Your insurance claims history
  • Your credit score
  • Whether you are bundling your coverage with other policies like car insurance, motorcycle insurance, or life insurance

Every insurance company you contact for quotes will likely offer coverage at a different price. Comparing customized quotes from a few competing insurance providers lets you choose the policy that provides all the coverage you want at the most competitive rate.

Independent insurance agents in Lewiston make comparison shopping easy.

Where Can I Find Cheap Homeowners Insurance Near Me?

Nobody likes to overspend on things. You may think that purchasing the cheapest home insurance policy you can find is a great way to save money. However, skimping out on coverage is not necessarily the most cost-effective way to protect one of your most valuable assets.

Buying a cut-rate policy may save you money on your monthly payments right now. However, if a disaster causes significant damage to your house, your bargain-priced policy may end up costing you far more than it ever saved you.

The cheapest policies typically have extremely high deductibles and limited coverage. They may also be written by insurance companies which makes filing claims difficult and time-consuming.

Independent agents can help you review policies and rates from a variety of reputable insurers. You can, therefore, rest assured that you are buying a competitively priced policy from an insurance company that will provide the coverage you need when you need it.

What Does Homeowners Insurance Cover in Lewiston, ME?

Homeowners insurance protects your finances in three ways:

  • By covering your house and personal property
  • By covering costs related to displacement
  • By covering against liability lawsuits

Each of these coverage types will be discussed in greater detail below.


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How Does Homeowners Insurance Cover Your House and Personal Property?

Your home insurance can pay to repair, rebuild, or replace your house and property if it is lost or damaged as the result of a covered event. Some of the covered risks that may affect property owners in Lewiston include:

  • Fires: Your policy can cover damage caused by flames, smoke, and firefighting efforts in the event of a fire or explosion.
  • Property crimes: Your policy can cover the cost of replacing stolen property and repairing damage caused by vandalism and other property crimes.
  • Falling objects: Your policy can pay for repair costs if your house or property is damaged by falling objects like hailstones or tree branches.
  • Water damage: Your policy can pay for repair costs if you experience water damage due to leaky roofs, broken windows, burst pipes, and similar hazards. However, homeowners policies specifically exclude coverage for damage caused by floods.
  • Severe weather: Your policy can pay for damage caused by perils like lightning strikes, windstorms, thunderstorms, heavy snows, and ice accumulation.

You will want to be sure you have enough dwelling insurance to cover the cost of rebuilding your home and enough contents insurance to cover all of your personal property. That way, if a catastrophic event like a fire destroys your house, you will have the funds needed to pick up where you left off.

How Does Loss of Use Insurance Cover Lewiston, ME Homeowners against Displacement?

If a major disaster like a structure fire impacts your home, property loss and damage isn’t the only expensive outcome you will need to worry about. If the damage to your home’s structure is severe, it may not be safe for you and your family to be inside it until repairs have been made.

Loss of use insurance is a standard part of every home insurance policy. It can cover your extra living expenses if you must seek alternate accommodations because damage from a covered event has left your home unsafe for habitation.

While your house is being brought back to code, your loss of use coverage can pay for things like:

  • A hotel or other reasonable accommodations
  • A meal allowance, if your accommodations do not include a kitchen
  • Moving cost and storage fees
  • Pet boarding, if needed

Your coverage can continue until it is safe to return home or until you have built or purchased a new primary residence.

Why Do Homeowners in Lewiston, ME Need Personal Liability Coverage?

Accidents, negligence, and errors in judgment on your part can sometimes cause other people to suffer financial losses, injuries, property damage, or other harm. The injured party may file an expensive lawsuit against you if this happens.

Fortunately, your homeowners insurance safeguards your property and assets by providing you with a significant amount of personal liability coverage as a standard part of its coverage.

If you or someone in your household unintentionally causes harm to others, your homeowners liability insurance can cover expenses related to personal liability lawsuits, including legal defense fees, court costs, mediation costs, settlements, and judgments.

If you want to have even more liability protection than your homeowners insurance can provide, you can supplement your coverage with an umbrella insurance policy. This is an affordable way to significantly boost all of your personal liability coverage.

Do Homeowners in Lewiston, ME Need Flood Insurance?

Floods can be extremely expensive for property owners. According to FEMA, just one inch of rainwater in a house can cause up to $25,000 in property damage. However, flood damage is not covered by homeowners insurance.

Floods pose a moderate risk to homeowners in Lewiston. Nearly 1,000 homes (more than 10% of this city’s residential properties) have at least a 26% chance of sustaining significant flood damage over the next 30 years. If your home is among those at risk, you may want to consider flood insurance.

A local independent agent can help you review flood maps and assess your risk of flood damage. If needed, your agent can also help you obtain an affordable flood insurance policy through the National Flood Insurance Program (NFIP), a program administered by FEMA.

What Is the Burglary Rate in Lewiston, ME?

The burglary rate in Maine is lower than the national rate. In Lewiston, the rate is higher than in the state but still lower than in the nation. Residents of this city report an average of around 140 burglaries a year.

  • Number of burglaries per 1,000 people in the US: 3.76
  • Number of burglaries per 1,000 people in Maine: 2.03
  • Number of burglaries per 1,000 people in Lewiston: 3.40

You can protect your home and property by taking precautions like keeping doors and windows securely locked, putting lights on timers when you’re away, or even getting a guard dog.

Home security systems are among the most effective theft deterrents. You may be able to earn significant home insurance discounts if you have one installed in your house.

Of course, nothing is 100% foolproof against a determined burglar. If you are the victim of a property crime, it may give you some peace of mind to know that your homeowners insurance can compensate you for your losses. You will need a copy of a police report when you file your claim.

What Are the Best Homeowners Insurance Companies in Lewiston, Maine?

The insurance companies that stand out above the rest are the ones that have consistently provided their policyholders with responsive customer service, reliable coverage, timely claims processing, and competitive rates.

Independent insurance agents in Lewiston have teamed up with some of the best homeowners insurance companies in Maine. When your agent presents you with a selection of policies and quotes to review and compare, you can be confident that they are all coming from trustworthy insurers.

How Can an Independent Insurance Agent in Lewiston, ME Help Me Find the Right Policy?

Independent agents are ready to help you with all your insurance coverage needs. You can turn to one of these local agents for knowledgeable answers to your coverage-related questions, trustworthy advice, and help with finding the best and most affordable home insurance policy.

Arrange an obligation-free consultation with an independent insurance agent near you to learn more. You will soon discover how easy it can be to compare customized homeowners insurance quotes from multiple providers.

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TrustedChoice.com Article | Reviewed by Jeffrey Green

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