Average homeowners insurance cost in South Portland, ME

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 South Portland is $1,254 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 $1,250 less than the national average of $2,504.

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

Key takeaways

The cost of your homeowners insurance policy in South Portland can vary based on factors such as your location, the value of your home, and the coverage options you select.
Vermont Mutual is the cheapest homeowners insurance company in South Portland with an average annual premium of $588.
If you increase your dwelling coverage from $200,000 to $300,000, you will pay $336 more, annually for home insurance.

Average homeowners insurance cost in South Portland per month

South Portland homeowners pay an average of $105 a month, based on our rate analysis. It’s $10 less than the state average of $115 and $104 less than the national average for home insurance across the United States. The price of your homeowners insurance policy in South 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 South Portland

The average cost of homeowners insurance in South Portland, ME is $918 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 South Portland

According to Insure.com’s rate analysis, homeowners in South Portland typically pay an average of $1,254 annually for a home insurance policy with $300,000 in dwelling coverage, $100,000 in liability protection, and a $1,000 deductible.

If you increase your dwelling coverage from $200,000 to $300,000, your home insurance rates will rise by $336. It is advisable to purchase enough insurance to cover the entire cost of rebuilding your home. The required amount of dwelling coverage can vary based on factors such as the size of your home, its features, and the cost of living in your area.

Average homeowners insurance cost in South Portland by Company

Among the carriers analyzed, Vermont Mutual is the cheapest homeowners insurance company in South Portland. It’s average annual rate for South Portland homeowners is $588. Auto-Owners ranks second and State Farm makes it to the third spot with an average annual home insurance rate of $909.

Before choosing a homeowners insurance policy, it is important to do some research on the company. Our experts have analyzed all the insurance companies across South Portland and prepared a list of the cheapest home insurance providers. You can find below the South Portland home insurance companies and their average annual premium.

Home Insurance Company	Annual rate
Vermont Mutual	$588
Auto-Owners	$893
Allstate	$1,089
Frankenmuth Insurance	$1,126
Quincy Mutual	$1,183
Chubb Ltd	$1,238
The Hanover	$1,668
Farmers	$2,439
State Farm	$909
MMG Insurance	$1,408

Methodology

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