Homeowners Insurance in South Portland, ME

The average home and condo values in South Portland are considerably higher than the state's overall average values. With a comparison of $276,899 vs. $200,500, residents in South Portland have extra incentives to protect their property with the right type of coverage. That means having homeowners insurance.

Working with an independent insurance agent in South Portland is a great way to get matched to the right type of homeowners insurance policy. They'll help you get set up with coverage long before disaster strikes. But first, here's a behind-the-scenes look at home insurance in South Portland, ME.

What Is Homeowners Insurance?

Homeowners insurance covers your home's structure and contents, personal liability, and potential additional living expenses. Coverage can pay to rebuild or repair your home's structure and contents after a listed disaster like a fire. It can also reimburse you for lawsuits or pay for a hotel visit and other expenses if your home requires extensive repairs following a covered disaster.

What Does Homeowners Insurance Cover in South Portland, ME?

Standard homeowners insurance policies in South Portland include these core coverages:

• Additional living expenses: This covers hotel stays and other additional costs if you can't live at home while it's being repaired for a covered disaster like a fire.
• Dwelling coverage: This covers the costs of rebuilding or repairing your home's structure after a covered disaster like an explosion.
• Contents coverage: This covers the costs of repairing or replacing your personal property like clothing if it gets stolen, lost, damaged, or destroyed by a covered disaster like theft or fire. 
• Liability coverage: This covers the costs of lawsuits filed against you by third parties for bodily injury or personal property damage. 

An independent insurance agent in South Portland will help you build a homeowners insurance policy with all the necessary coverages to fully protect your property.

What's Not Covered by Homeowners Insurance in South Portland, ME?

Homeowners insurance is designed to protect you against all kinds of disasters, but it still comes with specific exclusions.

These disasters are not covered by home insurance:

• Nuclear fallout or war damage
• Flood or earthquake damage
• Malicious acts against others
• Pest or insect damage
• General property wear and tear

Since home insurance doesn't cover flooding or earthquake damage, talk to your independent insurance agent about adding flood insurance or earthquake insurance to your coverage. These separate policies provide important protection for your home against natural disasters.

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How Much Does Homeowners Insurance Cost in South Portland, ME?

Annual rates for homeowners insurance average $882 per year in Maine, which is well below the current annual national average of $1,211. Maine currently ranks as having the ninth-lowest homeowners insurance rates overall. That makes it even easier for an independent insurance agent in South Portland to find you an affordable policy in your city.

The Most Common Home Disasters in South Portland, ME

Home insurance can help protect your home from many disasters. But it's important to be familiar with the most common property disasters in your area so you can prepare in other ways, as well.

The top home disasters in South Portland, ME are:

1. Severe storms and lightning damage
2. Flooding and water damage
3. Heavy snow
4. Hurricanes and tropical storms
5. Burglary and other property crimes

Flood insurance is necessary to protect your home against heavy rainfall flooding such as from severe storms and hurricanes. But home insurance can reimburse for burglary and other property crimes, lightning damage, and heavy snow damage.

Cheap Homeowners Insurance Near Me

Cheaper homeowners insurance policies aren't always the smartest option. Lower premium rates can indicate:

• Higher deductible amounts
• Lower overall coverage limits
• Sub-par insurance carriers

If you want to pay less out of pocket per claim before receiving reimbursement from the carrier, you'll want to trade a low deductible for a higher premium. You also want to ensure you have enough coverage to actually cover an entire claim amount if necessary. Further, though not always true, paying more for your coverage can help you get matched to a quality insurance carrier that will deliver on its promises to customers. 

What Are the Best Homeowners Insurance Companies in South Portland, ME?

You can find home insurance from many different carriers in your area. But we're hoping to simplify your coverage hunt by providing just a few of our top-recommended home insurance carrier choices in South Portland, right here. 

Top Homeowners Insurance Companies in South Portland, ME	Star Rating
Stillwater
Foremost
MAPFRE Insurance
Progressive
Peerless

Why Work with an Independent Insurance Agent in South Portland, ME?

There's no such thing as a one-size-fits-all homeowners insurance policy. With a wide variety of products and options at your disposal, you can put together a solid home insurance package that's custom-built for you and your family.

Independent insurance agents can help you choose the right policies and options to meet your specific coverage needs. Because they're independent, these agents can work with several of the best homeowners insurance companies in Maine to find you the right coverage at a great price.