Average renters insurance cost in Maine

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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?

Among insurers operating in Maine, State Farm has the lowest average annual premium at $96. Vermont Mutual and MMG Insurance are also worth a look if keeping premiums low is a priority.

That said, price alone shouldn’t drive your decision. It’s equally important to weigh coverage limits, deductible options, and any discounts available to you. The table below lays out average annual and monthly rates from various 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 cost of renters insurance in Maine is $211, with a personal property coverage limit of $40,000, $300,000 in liability coverage and a $1,000 deductible.

However, if you lower your personal property coverage from $40,000 to $20,000, you can expect to pay $152 a year for renters insurance in Maine. Make sure $20,000 is enough to cover your belongings before deciding to adjust your coverage.

The table below shows average annual renters insurance premiums in Maine for personal property coverage of $20,000 and $40,000.

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?

Most renters need enough coverage to replace their personal belongings and protect against liability claims. A common starting point is $20,000 to $40,000 in personal property coverage and at least $300,000 in liability protection. That said, the right amount really depends on the value of what you own, any endorsements you might add for higher-value items, and how much risk you’re comfortable carrying yourself.

How much does renters insurance cost by city in Maine?

Your city within Maine can have a real impact on your renters insurance premium. Insurers factor in local variables like crime statistics, weather history, and how urban or suburban an area is when setting rates.

Here’s how average renters insurance costs break down across major cities in Maine.

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 most renters in Maine, renters insurance is well worth having. It protects your belongings against fire, theft, vandalism, and certain natural disasters, while also providing liability coverage if someone is injured in your home.

According to the US Department of Commerce, the US Census Bureau and American Community Survey â€“ over 48% of renter households in the US spend more than 30% of their income on rent and utilities, which means even smaller ongoing expenses like insurance are worth managing carefully.

Finding the right policy comes down to shopping around. Price matters, but it’s also important to review coverage options, deductibles, and customer satisfaction. Paying slightly more for better coverage can make a real difference when you need 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

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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.