Portland Homeowners Insurance

Your Complete Guide to Portland, ME, Homeowners Insurance

(Find the best home insurance policy for you)

Portland Maine homeowners insurance

With over 65,000 residents, Portland is the largest city in the state of Maine. If you own a home in this coastal city, you’ll want to make sure you protect it with a reliable homeowners insurance policy.

An independent insurance agent in Portland can help you find the best home insurance policy for you. They work with multiple insurance companies, so you can find an affordable price with the right coverage. Connect with an agent to get started.

Cost of Homeowners Insurance in Portland, ME

Maine is the 42nd most expensive state for home insurance in the US. This is great news for residents of the city because your homeowners insurance will most likely be quite a bit lower when compared to other state's rates. It’s always a good idea to comparison shop before you purchase, and an independent insurance agent can help you do that.

  • National average yearly premium: $1,211
  • Maine average yearly premium: $882
  • Portland, ME average yearly premium: $746

Your actual home insurance rate may be more or less than the average depending on specific factors about you and your home. The premium is calculated on a case-by-case basis and is based on factors such as:

  • How much it will cost to rebuild your home
  • Your history of filing claims and your credit score
  • The deductible and coverage limits you decide
  • The material your home is built of and how old it is

Independent agents in Portland can help you get a competitive price. Connect with an agent to get started.

Burglary Rate in Portland, ME

Maine has a very low property crime rate when compared to the US. This will benefit your home insurance policy by helping to keep your premium low.

(Rate per 100,000 people)

  • National burglary rate: 376
  • Maine burglary rate: 202.7
  • Portland, ME burglary rate: 252.3

Even with a low burglary rate, it’s a good idea to make sure you're covered in case it happens. Your home insurance policy will reimburse you for lost and damaged possessions, along with broken windows, doors, or locks.

If you have expensive valuables such as art, jewelry, or antiques you may want to purchase additional coverage to make sure they’ll be covered if stolen. Talk to an agent about how you can make sure prized possessions are protected.

Common Disasters in Maine

  1. Severe storms
  2. Flooding
  3. Heavy snow
  4. Hurricanes and tropical storms

Insurance companies paid out $131,123,000 in 2016 to Maine homeowners because of covered damages. Your home insurance policy is there to financially protect you when disaster strikes.

Flood insurance

Your home insurance policy will not cover you against damage caused by floods. For that, you’ll need to purchase an additional flood insurance policy. This coverage will help you rebuild and replace items that were destroyed by the water damage. With flooding quite common in Portland, let an independent insurance agent help you find the flood coverage you need.  

Liability Insurance for Portland, ME, Homeowners

Your home insurance policy includes limited liability protection. This could become your financial lifeline if someone is injured on your property because of negligence. Liability insurance will cover the expenses related to a lawsuit.

Examples of when your liability insurance will protect you:

  • If your sidewalk is icy and someone slips and falls.
  • If you're playing catch and accidentally throw it too hard and it ends up through your neighbor’s window.
  • If you’re at the golf course playing golf and hit a ball that bounces off a tree and hits someone.

Your liability insurance will cover you to a limit and after your limit is reached, you’ll be responsible for the rest of the bill. Many homeowners add on to their homeowners liability coverage with an umbrella policy. This will protect your assets if you’re forced to pay out in excess of your liability limits.

Why Work with a Portland, ME Independent Insurance Agent?

An independent insurance agent will make it fast and easy to find the best policy for your home. They aren’t tied to a single insurance company, so they’ll get you competitive prices with the best coverage for your needs. Find a local agent in Portland, ME, to start comparing customized home insurance quotes for your Portland home.

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