Average homeowners insurance cost in Portland, ME

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The average cost of homeowners insurance in Portland is $1,325 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 $1,179 less than the national average of $2,504.

However, homeowners insurance rates can vary drastically from one home to another. Home insurance rates in Portland 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 to know how much homeowners insurance cost per month in Portland, home insurance cost for different dwelling coverage, also know which companies offer cheap home insurance in Portland.

In this guide, we will explain everything from what coverage options are available to which companies have the cheapest rates for homeowners insurance in Portland.

Key takeaways

The average cost of homeowners insurance in Portland is $1,325 per year.
Vermont Mutual is the cheapest homeowners insurance company in Portland with an average annual premium of $611.
If you increase your dwelling coverage from $200,000 to $300,000, you will just have to pay $358 more a year for home insurance.

Average homeowners insurance cost in Portland per month

Portland homeowners pay an average of $110 a month, based on our rate analysis. It’s $5 less than the state average of $115 and $99 less than the national average for home insurance across the United States. The price of your homeowners insurance policy in Portland may vary depending on where you live, the value of your home, and the coverage you choose.

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

The average cost of homeowners insurance in Portland, ME is $967 annually for the dwelling coverage of $200,000 and the liability protection of $100,000. The amount you pay for home insurance each year depends on many different things. The types of natural disasters or events that take place in your area affect how much you pay for coverage in your city.

Some areas are more at risk for natural disasters, like flood, hurricanes, or tornadoes. This means that if something happens, the cost of rebuilding would be higher in those areas, thereby leading to higher insurance premiums. Your insurance policy might not cover damage caused by floods or hurricanes. So, if you live in a flood-prone area, consider buying flood insurance coverage.

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

As per rate analysis by Insure.com, homeowners residing in Portland typically pay an average of $1,325 annually to insure a home for coverage limits of $300,000 dwelling, $100,000 liability protection with a $1,000 deductible.

Your home insurance rates will be increased by $358 if you increase your dwelling coverage from $200,000 to $300,000. It is advisable to buy enough insurance sufficient insurance to cover the entire cost of rebuilding your home. However, the amount of dwelling coverage you need may vary depending on the size of your home, the features in your home, and the cost of living in your area.

Average homeowners insurance cost in Portland by company

After evaluating several carriers, Vermont Mutual is the least expensive homeowners insurance provider in Portland. It’s average annual rate for homeowners in Portland is $611.

Auto-Owners holds the second position, while State Farm secures the third spot with an average annual home insurance rate of $953.

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

Home Insurance Company	Annual rate
Vermont Mutual	$611
Auto-Owners	$891
State Farm	$953
Allstate	$1,089
Quincy Mutual	$1,180
Frankenmuth Insurance	$1,199
MMG Insurance	$1,652
The Hanover	$1,997
Farmers	$2,439
Chubb Ltd	$1,238

Methodology

Insure.com, with the help of Quadrant Information Services, gathered data for homeowners insurance rates in Portland 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.