Average homeowners insurance cost in Bangor, Maine

Why you can trust Insure.com

Quality Verified

At Insure.com, we are committed to providing the timely, accurate and expert information consumers need to make smart insurance decisions. All our content is written and reviewed by industry professionals and insurance experts. Our team carefully vets our rate data to ensure we only provide reliable and up-to-date insurance pricing. We follow the highest editorial standards. Our content is based solely on objective research and data gathering. We maintain strict editorial independence to ensure unbiased coverage of the insurance industry.

The average cost of homeowners insurance in Bangor is $1,308 per year (for the coverage level of $300,000 for dwelling, $100,000 for liability protection and $1000 deductible), based on Insure.com’s rate data analysis. It’s $1,196 less than the national average of $2,504 .

However, homeowners insurance rates can vary drastically from one home to another. Home insurance rates in Bangor depend on a number of factors, including:

Size of your home
Age of your home
Amount of coverage you need
Location
Your credit score

To make sure you are getting the best deal on home insurance, it is important to get quotes from multiple insurers to find the right coverage for your needs. Read this guide for more info on how much homeowners insurance costs per month in Bangor, home insurance costs for different dwelling coverage, and which companies offer cheap home insurance in Bangor.

Key Takeaways

The average cost of homeowners insurance in Bangor is $1,308 per year.
Vermont Mutual is the cheapest homeowners insurance company in Bangor with an average annual premium of $646 .
If you increase your dwelling coverage from $200,000 to $300,000, you will just have to pay $351 more a year for home insurance.

Average homeowners insurance cost per month

How much you pay for a homeowners insurance policy depends on the value of your home, your location, and the coverage options you select.

Homeowners in Bangor pay an average of $109 per month. It’s $6 less than the state average of $115 and $100 less than the national average for home insurance across the nation.

Average homeowners insurance cost for a $200,000 house in Bangor

The average cost of homeowners insurance in Bangor, ME is $957 annually for the dwelling coverage of $200,000 and the liability protection of $100,000. The cost of your home insurance each year depends on several factors – including the risk of natural disasters in your area. If your city is prone to events like hurricanes, wildfires, or floods, you’ll likely pay more for coverage.

Some places are more prone to natural disasters, like floods, hurricanes, or tornadoes. That makes rebuilding after a major event more expensive, which is why home insurance tends to cost more in those areas. And keep in mind, your standard policy probably doesn’t cover flood or hurricane damage. If you live in a high-risk zone, it’s definitely worth looking into separate flood insurance for extra protection.

Average homeowners insurance cost for a $300,000 house in Bangor

According to a rate analysis by Insure.com, homeowners in Bangor pay an average of $1,308 per year for a $300,000 house. These rates are for the coverage limits of $100,000 for liability protection and $1000 deductible.

If you increase your dwelling coverage from $200,000 to $300,000, you’ll have to pay $351 more a year for home insurance. It would be best to buy enough insurance to cover the full cost of rebuilding your home.

However, the amount of dwelling coverage you need may vary depending on the size of your home, its features, and the cost of living in your area.

Average homeowners insurance cost in Bangor by company

After comparing several homeowners insurance companies, Vermont Mutual offers the lowest rates in Bangor. Its average annual rate for homeowners in Bangor is $646 , while Auto-Owners is the second-cheapest.

Researching the insurance company is crucial before selecting a homeowners insurance policy. Our experts have analyzed all insurance providers in Bangor and compiled a list of the cheapest home insurance providers. Below, you’ll find the home insurance companies in Bangor and their average annual premiums.

Home Insurance Company	Annual rate
Vermont Mutual	$646
Auto-Owners	$811
Chubb Ltd	$915
State Farm	$996
Allstate	$1,124
Frankenmuth Insurance	$1,162
Quincy Mutual	$1,298
MMG Insurance	$1,575
Farmers	$2,272
The Hanover	$2,283

Bundling your home insurance with other policies, like auto insurance, can lead to significant savings. Insurance companies often offer discounts for customers who combine multiple policies. By bundling, you can reduce your premiums and manage your insurance needs with one company.

Natural disasters in Maine that can impact your home insurance

Living in Maine means facing the risk of natural disasters that can seriously damage your home and belongings. These events can lead to expensive repairs and major insurance claims. That’s why it’s so important to understand which disasters are most likely in your area before choosing a home insurance policy.

Being aware of your local risks helps you choose the right level of protection, from setting appropriate coverage limits to deciding on deductibles or adding extra coverage. Taking the time to tailor your policy to those risks can help you avoid being underinsured and give you peace of mind if you’re impacted by a natural disaster.

Maine is commonly affected by Ice storm.

How home insurance protects you against natural disasters

If your home is hit by a covered event, your insurance can help pay for repairs, replace your belongings, and even cover temporary housing if you can’t live in your home. Having the right coverage in place can make it a lot easier to get back on your feet after a disaster.

That said, not everything is automatically included. While most standard policies cover things like wind, hail, and lightning, you’ll usually need extra coverage for disasters like floods, earthquakes, or wildfires. It’s worth taking the time to understand exactly what your policy includes so there are no surprises when you need it most.

Make sure your coverage is disaster-ready

The best time to review your homeowners insurance is before a storm hits. If you’ve made upgrades to your home or live in a disaster-prone area, you may need more coverage than you think. A quick policy check now can prevent big financial losses later.

Methodology

Insure.com, with the help of Quadrant Information Services, gathered data for homeowners insurance rates in Bangor for $300,000 dwelling coverage and $100,000 liability coverage with a $1,000 deductible. The data presented are those with a good credit tier alignment.

Shivani Gite

Contributing Writer

Shivani Gite is a personal finance and insurance writer with a degree in journalism and mass communication. She is passionate about making insurance topics easy to understand for people and helping them make better financial decisions.