Scarborough, ME, is one of the fastest-growing communities in Maine, and it is a popular destination for outdoor enthusiasts. Scarborough, ME has a population of over 22,000 residents.
It’s not surprising that residents of Scarborough want to keep their homes safe from harm and their assets secure. That’s why you need affordable homeowners insurance that covers your risks. Having reliable and responsive homeowners insurance means having peace of mind in the face of unpleasant events.
A local independent insurance agent can help you find the best homeowners insurance in Scarborough, ME.
What Is Homeowners Insurance?
Homeowners insurance protects you when fires, severe weather, or other disasters strike. It contains dwelling coverage, which pays for repairing the physical structure of your home. It also includes contents coverage, which pays for repairing or replacing lost or damaged personal property after a covered event.
In addition to property losses, homeowners may face negligence claims at any time. If someone gets hurt on your property or your child or pet causes an injury or property damage, you may need to pay for the injured party's property repairs or medical bills. Moreover, you could be sued and face extensive legal costs to defend yourself or settle the issue.
Liability coverage is also essential to your Scarborough, ME homeowners insurance policy. It covers the injured party’s expenses and many legal costs if you’re sued.
What Does Homeowners Insurance Cover in Scarborough, ME?
When you purchase homeowners insurance in Scarborough, ME, it will likely include the following types of property coverage:
- Dwelling coverage: Pays to repair and rebuild your damaged 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 forced to live elsewhere while your home is being repaired.
Dwelling coverage will help you repair or rebuild the structure of your house after a covered loss, and contents coverage will help you repair or replace damaged or destroyed possessions. It's essential to have adequate coverage to ensure you'll be fully reimbursed if you have a loss.
In addition, homeowners insurance 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 Scarborough, ME?
All insurance policies, including homeowners insurance policies, exclude coverage for certain losses. Homeowners insurance in Scarborough, ME does not cover everything that can go wrong with your home or property.
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.
Moreover, your property coverage will not cover every type of damage you might encounter. Almost all homeowners insurance policies 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 Scarborough, ME does not cover flood damage. Flooding can be a problem in some areas of Maine. It is one of the top five risks for homeowners in the state.
Fortunately, Scarborough has only a minor flood risk. But that doesn’t mean you shouldn’t discuss your need for supplemental flood insurance with your independent 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 Scarborough, ME?
Maine is the 42nd most expensive state for homeowners insurance. Maine's average cost of homeowners insurance is lower than the national average.
- National average yearly premium: $1,211
- Maine average yearly premium: $882
Your home insurance rates may be higher or lower than the average for your city. Your cost depends on your home's unique characteristics (size, location, age, value, etc.) and other neighborhood risk factors (crime rate, severe weather risk).
If your property's location has more hazards than most, expect to pay more. You will also pay more if your home costs more to repair or rebuild than others.
Comparing quotes from multiple insurance companies and making sure you are maximizing your home insurance discounts is the best way to make sure you’re getting the best rate on your home insurance. One of the easiest ways to get a discount from most insurance companies is to bundle your homeowners insurance with other policies, such as car or life insurance.
A local independent insurance agent can help you get the coverage you need and uncover any discounts you might be eligible for.
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What Common Disasters and Claims Are Covered by Homeowners Insurance in Scarborough, ME?
While severe storms, heavy snow, and even hurricanes can happen in Maine, you can also experience significant and expensive property damage from more common events like wind, lightning, hail, or a break-in. Even a small kitchen fire can be financially devastating.
Maine has experienced 62 federally declared disasters since 1953. The top five property risks for homeowners in Maine are:
- Severe storms and lightning damage
- Flooding and water damage
- Heavy snow
- Hurricanes and tropical storms
- Burglary and other property crimes
Your home insurance in Scarborough, 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.
The statewide burglary rate in Maine 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
Even if you live in a very safe city, it doesn’t mean you can’t be a victim of a home burglary, break-in, or vandalism. Your home insurance is designed to reimburse you for loss or damage following such an event. But remember, you have to pay your deductible first, and then your insurance company will handle the rest.
Don’t wait until it’s too late. Take precautions to protect your home from burglaries, and remember that having a home security system is one of the best ways to keep the burglars out.
What’s more, homes with burglar alarms often qualify for extra discounts on home insurance.
Cheap Homeowners Insurance Near Me
Finding the cheapest homeowners insurance in Scarborough, ME may sound like a great idea. But it's crucial to balance affordability with adequate coverage. Simply buying the cheapest homeowners insurance near you can lead to a more significant financial fallout later.
Consider shopping around for the policy that offers the best coverage to protect your home and fits your budget. Suppose you don't have enough homeowners insurance when something goes wrong. In that case, 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 some of the cost of better coverage by choosing higher deductibles. Insurance companies also typically offer a variety of homeowners insurance discounts. Your independent insurance agent can help you maximize the discounts for which you are eligible.
What Are the Best Homeowners Insurance Companies in Scarborough, 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 Scarborough, 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.
TrustedChoice.com Article | Reviewed by Jeffrey Green
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