One of the most peaceful and beautiful states to live in the United States, Maine’s coast and mainline alike each are home to many residents who love where they live. However, this doesn’t stop disasters, fires, and crime from happening, and many people are hit with a tragedy each year. We understand that you can’t always stop problems and damage, but you can prepare yourself to recover quickly should the worst happen. This is what renters insurance is for, and to help you get it or get a better policy, we performed some research on the cheapest providers in the state.
Here are the five cheapest renters insurance providers operating in Maine:
The Five Cheapest Quotes:
Your results might differ from those below based on your location, living situation, and other factors, but we’ve made sure to provide you with as accurate as information as possible and to ensure our findings reflect the average experience. You will find a great match among the following five companies.
The number listed next to each provider is the average annual rate for a standard policy.
1) State Farm: $123
State Farm will likely be the company to provide you with the cheapest quote in Maine, and in this case, also provide you with one of the cheapest quotes available to anyone in the country. We found that Maine residents have an incredibly low average rate, and if you want to take the greatest advantage of that fact and want basic coverage, State Farm is where you should look first.
You might not want to use them if you’re looking for great water damage or business property coverage, and you might find a bad apple or two among their agents, but overall, they can be a great choice for you and your apartment.
You can expect the following working with State Farm:
- Discounts and bundling options, especially if you’re willing to install a few safety or security devices in your home.
- A customizable planning and startup process.
- Excellent loss-of-use coverage that’s easily better than nearly every other provider.
2) Allstate: $140
Another very cheap option for most Maine residents, Allstate is similar to State Farm in that it is another great choice for those who want a simple yet effective plan that will act as a safety net should the worst happen to their apartment. Optional coverages can include things such as business property coverage and water damage coverage, but you will want to review their full and extensive list.
You will, however, want to watch out for rate hikes in some areas as well as poor customer service in some circumstances. We recommend comparing their quote to State Farm’s and going with what you think will work best for you.
You can expect the following working with Allstate:
- Great coverage where water damage is concerned.
- Bundling options that can lower your rate by a noticeable amount.
- Very competitive coverage for high-value items.
3) Amica: $179
A choice that is great for people who are looking for great customer service alongside their low rate, Amica is all about forming a long-term relationship with the customer and making sure you get exactly what you expect and what you’re looking for. Their policies will be able to help you be covered no matter the type of damage you get, with few exceptions.
There aren’t too many downsides to working with them, but you may be limited in your customization options. If you have special renters insurance considerations, you might want to work
You can expect the following working with Amica:
- An easy to work with claims team and claims process.
- Customer satisfaction as a point of priority.
- A wide variety of bundling options and opportunities.
4) Liberty Mutual: $284
A provider that is somewhat more expensive than average but also is a provider of great coverage and service, Liberty Mutual is a company with few weaknesses and a solid choice if you want a better plan with little hassle attached. They’re optimized to provide you with a great experience, ranging from their online services to their customer relations. If you don’t want to put much thought into a policy, Liberty Mutual likely won’t do you wrong.
That all being said, you may want to be somewhat cautious when bundling or getting other insurance from them, however, as we’ve found their additional offerings don’t always reach the benchmark set by their renters policies.
You can expect the following working with Liberty Mutual:
- Optional coverages for and regarding such things as water damage, expensive items, identity theft, jewelry, and electronics.
- Discounts available if you are a member of one of the many organizations they are partnered with.
- A reliable team that will answer any questions that you may have.
5) Nationwide: $349
Nationwide is a company you can generally consider as more of a premium provider, and this is especially the case in Maine, where their expensive rate is comparatively noticeable. Yet you get quite a bit in return for your money, as their customization options and general level of coverage are extremely competitive and will help you get exactly what you want. You may also qualify for discount and bundle opportunities if you want to investigate ways to lessen the rate.
There are few downsides other than the price in Maine, but you may want to take the time to make sure the default coverages will work for you if you are not too interested in customization.
You can expect the following working with Nationwide:
- The ability to customize your deductible, giving you a great amount of control over your final rate.
- Coverage that can even extend beyond your doorway so that items you have stored elsewhere are under your policy.
- A free annual assessment that will help you determine the best deal and coverage for you.
There are plenty of options to choose from in Maine for renters insurance, and there is no universally perfect one. What we hope you do is take some time to perform additional research on the policies and companies that interest you, then take the above information into account as you make your choice. Whatever your final decision, we wish you good fortune in your efforts to find the safety net that fits you best.