Presque Isle is the largest city in Aroostook County, ME. It has over 8,700 residents.
If you own a house in Presque Isle, you’ll want to protect it from threats like fire, theft, vandalism, and severe weather. What’s more, you’ll want to protect your assets from the costs of lawsuits if you are sued for something that happens on your property. You can do that with reliable homeowners insurance.
An independent insurance agent can help you find the best home insurance in Presque Isle, ME. Independent agents can help you get quotes from multiple insurance companies so that you can make the best choice for your needs and budget.
What Is Homeowners Insurance?
Homeowners insurance is a type of personal insurance that protects you from property damage costs. Suppose your home is damaged or destroyed by a fire, storm, tornado, burglary, or another catastrophic event. Your Presque Isle, ME homeowners insurance should cover repairing or rebuilding your home and replacing damaged possessions.
Homeowners insurance also provides liability insurance, which protects you if you or a family member damages someone else's property or injures someone. It pays to repair or replace the damaged property of others or for the medical expenses of an injured person. It also covers your legal fees if you're sued after this type of incident.
What Does Homeowners Insurance Cover in Presque Isle, ME?
Home insurance in Presque Isle, ME includes the following types of property coverage:
- Dwelling coverage: Pays to repair and replace your damaged or destroyed home.
- Contents coverage: Pays for damage to your insured personal property, such as furniture, clothing, artwork, etc.
- Other structures coverage: Covers any detached structures on your property (e.g., sheds, fences, detached garages).
- Loss of use coverage: Pays for additional living expenses (hotel bills, food, etc.) if you are forced to live somewhere else while your home is being repaired.
It’s important to have sufficient dwelling coverage to repair or rebuild your house and enough contents coverage to fully repair or replace all of your personal property.
Homeowners insurance in Presque Isle, ME also includes homeowners liability coverage. It protects you when someone claims you have caused an injury or property damage. It covers the injured party's expenses (e.g., medical bills, property repairs) and your legal fees if you're sued. After a lawsuit, it can even cover financial settlements or court-ordered judgments.
What Is Not Covered by Homeowners Insurance in Presque Isle, ME?
Every home insurance policy in Presque Isle, ME includes a variety of coverage exclusions.
First, the liability coverage in your homeowners insurance policy has certain limitations. If, for example, you hurt someone because of an intentional act, your liability coverage will not cover you. You can find all the exclusions to your liability coverage in your policy documents.
What’s more, your property coverage will not cover every problem under the sun. Almost all homeowners insurance policies in Presque Isle, ME will exclude coverage for property damage caused by the following
- Ordinance or law (e.g., demolition or construction required to bring your house up to code)
- Earth movement (e.g., earthquakes, sinkholes, landslides)
- Water damage due to floods, sewer backups, and water that seeps through the foundation
- Power failure
- Nuclear hazard
- Intentional acts
- Governmental action (e.g., destruction, confiscation, or seizure of covered property by any governmental or public authority)
- Loss to property resulting from faulty zoning, bad repair or workmanship, faulty construction materials, and defective maintenance
Flooding, for example, can be a significant concern for many homeowners, but homeowners insurance in Presque Isle, ME does not cover flood damage. Unfortunately, flooding can be a problem in some areas of Maine. In fact, it is one of the top five risks for homeowners in the state.
Presque Isle has a moderate flood risk, with 360 properties likely to be severely affected by flooding over the next 30 years.
You can discuss if you need to purchase flood insurance to supplement your home insurance policy with your insurance agent. If necessary, your agent can help you purchase flood insurance from the National Flood Insurance Program (NFIP), a program established by the federal government to help homeowners recover after a flood event.
How Much Does Homeowners Insurance Cost in Presque Isle, ME?
Maine is the 42nd most expensive state for homeowners insurance in the US. Average homeowners insurance premiums in Maine are lower than the national average.
- National average annual homeowners insurance premium: $1,211
- Maine average annual homeowners insurance premium: $882
Actual home insurance rates quoted by your local independent insurance agent will be more or less than average. Home insurance rates are calculated on a case-by-case basis and are based on factors such as:
- The size of your house, the year it was built, and the age of your roof
- The estimated cost to rebuild your home (replacement cost)
- Your history of filing claims and your credit score
- Your coverage limits and deductible amount
- Whether you are purchasing other policies (e.g., car insurance, life insurance) with the same insurance company (home insurance bundles)
Moreover, every insurance company uses a different formula to calculate its rates, so premiums vary from carrier to carrier. Shopping around is essential to finding the policy and insurance company that best fits your needs and budget.
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What Common Disasters and Claims Are Covered by Homeowners Insurance in Presque Isle, ME?
Major disasters and mundane, day-to-day events can cause property damage and lead a homeowner to file an insurance claim. Maine has experienced 62 federally declared disasters since 1953. The top five property risks for homeowners in Maine are:
- Severe storms and lightning
- Flooding and water damage
- Heavy snow
- Hurricanes and tropical storms
- Burglary and other property crimes
Your home insurance in Presque Isle, ME can help you recover from most of these kinds of losses. For example, if you experience a burglary, your home insurance coverage can be the key to quickly getting back to normal.
Fortunately for homeowners in Maine, the statewide burglary rate is lower than the national average:
- Number of burglaries per 1,000 people in the US: 3.76
- Number of burglaries per 1,000 people in Maine: 2.03
You can't take your home's safety for granted, no matter where you live, so it's important to safeguard your home from burglaries, break-ins, and vandalism. Home insurance in Presque Isle, ME helps you pay for damage to your home, as well as for repairing or replacing stolen or damaged possessions.
Cheap Homeowners Insurance Near Me
Finding the best rate on home insurance in Presque Isle, ME is essential to staying within your budget. But simply buying the cheapest homeowners insurance near you can also lead to problems later.
It’s probably best to avoid simply choosing the cheapest coverage you can find. Shop around for the policy that offers the best coverage to protect your home and fits your budget. If you don't have enough homeowners insurance when something goes wrong, the financial consequences could be far more devastating than spending a few extra dollars a year to ensure that you have adequate coverage.
Many factors influence the cost of your homeowners insurance, from how claims reimbursements are calculated to whether or not certain types of losses are covered. You can usually offset better coverage by choosing higher deductibles.
The best strategy is to discuss these issues with your independent insurance agent before deciding which policy offers the best value for your needs and budget.
What Are the Best Homeowners Insurance Companies in Presque Isle, ME?
Finding the best homeowners insurance companies in Maine can be simple. A local independent insurance agent can help you get home insurance quotes from multiple insurance companies so that you can select the best policy for your needs and budget.
How Can an Independent Insurance Agent Help Me Find the Best Homeowners Insurance in Presque Isle, ME?
Instead of getting an online quote, find an independent insurance agent now, and get a one-on-one consultation and affordable options for the best coverage for your unique needs. Your agent will work with you free of charge, offering you various options so you can make the best choice.
What’s more, your agent will be there for you when claim time comes. They know the ins and outs of the process and will make sure your claim is handled appropriately.
Contact an agent today for a free, no-obligation consultation.