Average renters insurance cost in 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.

Renters in Maine pay an average of $211 per year, or $18 per month for renters insurance. This is based on a standard policy covering $40,000 in personal property, $300,000 in liability, and a $1,000 deductible – a reasonable baseline for most renters.

What you actually pay will depend on your coverage amount, which insurer you choose, and personal details like your ZIP code, claims history, and in some states, your credit score.

How much does renters insurance cost in Maine?

The average monthly cost of renters insurance in Maine is $18 for a policy with $40,000 in personal property coverage and $300,000 in liability protection. Premiums can shift depending on where you live, how much coverage you need, and the total value of your belongings – which is why getting quotes from several insurers is a smart move.

Generally speaking, raising your deductible lowers your monthly premium, while adding coverage for valuables like jewelry or electronics increases it. Choose a deductible and coverage level that fits both your budget and replacement needs.

Renters insurance in Maine: Where to start

Renters insurance in Maine averages $211 per year, or $18 per month for a standard policy
If you’re looking for the lowest price, State Farm tends to offer the most competitive rates in Maine, averaging around $96 per year
Since pricing varies widely between providers, it pays to compare a few options before making a decision

Which companies offer the cheapest renters insurance in Maine?

State Farm offers the most affordable renters insurance in Maine, with an average annual cost of $96. Vermont Mutual and MMG Insurance are also worth considering if you’re looking to keep costs down.

Choosing the cheapest insurer isn’t always the best option, so it’s important to review coverage limits, deductibles, and available discounts alongside price. The table below shows average annual and monthly rates from a range of insurers in Maine.

Company	Average annual rate	Average monthly rate
State Farm	$96	$8
Vermont Mutual	$100	$8
MMG Insurance	$147	$12
Auto-Owners	$175	$15
Quincy Mutual	$187	$16
Allstate	$223	$19
Farmers	$267	$22
The Hanover	$612	$51
USAA*	$172	$14

*USAA is only available to military community members and their families.

Want a more accurate renters insurance estimate?

Use our calculator to get a personalized renters insurance quote based on your location and coverage needs.

Your final premium may vary depending on the insurer, coverage limits, deductible, claims history and other rating factors.

Renters insurance calculator in Maine

$194/year

Estimated renters insurance rates in Maine

$16

Monthly renters insurance cost in Maine

-28%

Compared to national average

How much does renters insurance cost by coverage level in Maine?

The average annual renters insurance premium in Maine is $211, based on $40,000 in personal property coverage, $300,000 in liability, and a $1,000 deductible.

Dropping your personal property coverage from $40,000 to $20,000 could bring your annual cost down to around $152. Just make sure $20,000 would actually be enough to replace what you own before making that change.

The table below shows average annual premiums in Maine at both the $20,000 and $40,000 personal property coverage levels.

Coverage level	Average annual renters insurance rate	Average monthly renters insurance rate
$20,000 with $500 Deductible and $100,000 Liability	$147	$12
$20,000 with $500 Deductible and $300,000 Liability	$162	$14
$20,000 with $1,000 Deductible and $100,000 Liability	$137	$11
$20,000 with $1,000 Deductible and $300,000 Liability	$152	$13
$40,000 with $500 Deductible and $100,000 Liability	$211	$18
$40,000 with $500 Deductible and $300,000 Liability	$228	$19
$40,000 with $1,000 Deductible and $100,000 Liability	$194	$16
$40,000 with $1,000 Deductible and $300,000 Liability	$211	$18
$60,000 with $500 Deductible and $100,000 Liability	$276	$23
$60,000 with $500 Deductible and $300,000 Liability	$294	$24
$60,000 with $1,000 Deductible and $100,000 Liability	$254	$21
$60,000 with $1,000 Deductible and $300,000 Liability	$272	$23

People also ask: How much renters insurance coverage do I need?

The right amount of coverage depends on the value of your belongings and how much financial risk you’re willing to take on. Most renters do well with $20,000 to $40,000 in personal property coverage and at least $300,000 in liability protection. If you own high-value items like jewelry or electronics, you may want to add endorsements on top of your base policy.

How much does renters insurance cost by city in Maine?

Renters insurance premiums can differ depending on where in Maine you live. Factors like local crime rates, weather patterns, and the density of the area all play a part in what insurers charge.

Here’s how average renters insurance rates compare across major cities.

Renters insurance rates in Maine by city

See rates in your city

Bangor

Does your ZIP code affect renters insurance rates in Maine?

Your ZIP code is one of the biggest factors insurers use to set rates. Local risks like theft, fire and weather claims can drive premiums up or down, so two renters with the same coverage may pay very different prices.

In Maine, rates range from about $181 in 4530 to $252 in 4923. Here are the cheapest and most expensive ZIP codes for renters insurance in Maine.

Why your ZIP code affects renters insurance costs

Insurers use local risk data to calculate renters insurance premiums, which means rates can vary significantly by neighborhood and ZIP code.

Factors that affect renters insurance rates include:

Local theft and vandalism rates
Weather risks such as hurricanes, floods, or wildfires
Fire claims and rebuilding costs in your area

Even moving a few ZIP codes away can affect your monthly premium.

What are the most affordable ZIP codes for renters insurance in Maine?

In Maine, your ZIP code plays a major role in determining your premiums. Based on our data, 4530 is the most affordable ZIP code for renters insurance, with an average annual cost of $181.

ZIP codes with lower theft rates and fewer severe weather claims tend to have more affordable renters insurance premiums.

ZIP code	City	Average annual rate	Average monthly rate
4530	Bath	$181	$15
4847	Hope	$182	$15
4851	Matinicus	$182	$15
4843	Camden	$183	$15
4853	North Haven	$183	$15
4854	Owls Head	$183	$15
4855	Port Clyde	$183	$15
4422	Charleston	$184	$15
4841	Rockland	$186	$16
4856	Rockport	$186	$16

What are the least affordable ZIP codes for renters insurance in Maine?

4923 is the most expensive ZIP code for renters insurance in Maine, at an average cost of $252 annually or $21 monthly.

Here are the average annual renters insurance rates for every ZIP code in Maine, based on quotes from major insurers.

ZIP code	City	Average annual rate	Average monthly rate
4923	Cambridge	$252	$21
4924	Canaan	$252	$21
4925	Caratunk	$252	$21
4929	Detroit	$252	$21
4478	Rockwood	$252	$21
4985	West Forks	$252	$21
4930	Dexter	$247	$21
4406	Abbot	$246	$20
4414	Brownville	$246	$20
4415	Brownville Junction	$246	$20

How to lower your renters insurance, even in a high-cost ZIP code

Compare at least 3 quotes – rates for the same coverage can vary by $100+ between insurers in the same ZIP code
Bundle with auto insurance to save 5% to 15% on your renters policy
Ask about safety device discounts for smoke detectors, deadbolts, security systems, and smart-home monitoring
Raise your deductible from $500 to $1,000 to save around 10%
Check claims-free discounts if you haven’t filed a claim in 3+ years

Is renters insurance worth it in Maine?

For the vast majority of renters in Maine, a renters insurance policy is a smart financial decision. It covers your personal belongings against fire, theft, vandalism, and certain disasters, and provides liability protection if a guest is injured in your home.

Data from the US Department of Commerce, US Census Bureau, and American Community Survey shows that roughly 48% of renter households in the US spend more than 30% of their income on housing costs – which means every recurring expense, including insurance, deserves careful consideration.

The best approach is to compare policies rather than just prices. Coverage quality, deductibles, and customer service all factor into whether a policy is actually good value. Paying a little more for stronger coverage often makes sense when it’s time to file a claim.

Frequently asked questions

What does renters insurance actually cover?

A standard renters insurance policy covers personal belongings, liability, and additional living expenses if your rental becomes unlivable. It protects against losses from events like fire, theft, and vandalism, and can cover legal or medical costs if someone is hurt on your property. Always check the specific limits and exclusions in any policy you’re considering.

Do I really need renters insurance in Maine?

While renters insurance isn’t legally required in most cases, it provides real financial protection that’s hard to replicate otherwise. Even a basic policy can cover thousands of dollars in losses from theft, fire, or accidental damage – costs that would otherwise come straight out of pocket. Many landlords in Maine also make renters insurance a condition of the lease.

Sources:

Insurance Information Institute. Facts + statistics: Renters insurance. Accessed May 2026.

How much is renters insurance in other states

Show more states

Alisha Ambre

Alisha Ambre holds a Bachelor of Arts with honours in English Literature and Media Studies. She focuses on crafting clear, engaging content that makes complex information feel practical and approachable for everyday readers. When she’s not writing, she’s likely on the volleyball court or immersed in a good video game.