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Maine Home Insurance

Maine home insurance offers property damage coverage for your home. The most basic policy, known as the HO-2 policy, covers damages caused by fire, smoke, hail, wind, falling objects, theft, vandalism, vehicles, aircraft, frozen pipes, a sudden cracking, and overflowing steam from air conditioners and water heaters. The HO-3 policy (the most popular Maine homeowners insurance policy) offers bodily injury liability protection. If someone experiences an accident on your property, then this coverage would pay for medical expenses as well as any lawsuits. It also offers added property damage coverage. The majority of home lenders require Main home insurance when you’re buying a house on loan. For this reason, you should know more about Maine home insurance.

Maine Home Insurance Coverage

It is important to know that Maine homeowners insurance does not offer flood protection. If you live in an area prone to flooding, you must buy additional flood insurance to protect your home. In addition, certain areas may need additional coverage for high wind storms. The protection provided by your home insurance may be enough for your winter conditions, but be sure to review your policy and the perils in and around your home. It is always important to remember that Maine homeowners insurance does not cover maintenance negligence.

Maine Home Insurance Rates

The cost of Maine Home insurance can be relatively inexpensive depending on the area where you live. Of course if you live closer to the coast, then the added storm activity can affect your premium. Further inland, the winter conditions and proximity of firehouses and rivers and streams can affect your rate. It is important to review a property before buying a house to determine the perils that could arise. Not all perils are covered by Maine homeowners insurance, so it is important to review your “exclusions” section of your policy.

Saving Money

There are a few tried and true ways to reduce your Maine home insurance. First off, a homeowner can add preventative storm measures to receive a discount, including adding storm shutters, reinforcing the roof, and using stronger roofing materials. To receive an additional discount, a homeowner could buy both their home and auto insurance through the same company. The majority of insurance companies offer a discount when you buy more than one policy through them. It is always smart to shop around before buying a policy. Many of your friends or colleagues own homes and could point you in the right direction. With a little work, you can shave the much needed dollars from your Maine home insurance premium.

Maine Bureau of Insurance

Bureau of Insurance
#34 State House Station
Augusta, ME 04333-0034
Phone: (800) 300-5000


For other Maine Insurance Resources, See:


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