What do I need to know about Maine Home Owners Insurance?

Maine Home insurance is a combination of property and liability coverage, which means it can protect you if you're sued, as well as if you're robbed. Property coverage can ensure that you can repair, rebuild or replace your house. Apart from coverage for damage to items in the house (such as furniture), it also protects you against casualties caused by fire, wind or hail.

Maine Homeowners Insurance varies from company to company. The costs vary by hundreds of dollars and many insurance companies offer substantial discounts. Here are some tips to help you lower your home owners' insurance costs.
 

Tips on saving money with your
Maine Home Owners Insurance
● Shop around: Ask your friends, check the yellow pages or call your state insurance department. Also check consumer guides, insurance agents and companies.
● Think about increasing your deductible: By increasing your deductible to 0, you could save up to 12 percent; ,000, up to 24 percent; ,500, up to 30 percent; and ,000, up to 37 percent, depending, of course, on your insurance company.  But be prepared for any instances when you may need to pay this deductible out of pocket.
● Check with your Maine Auto Insurance agent: If your Maine auto insurance company offers home insurance, they might provide you with a home insurance discount.
● Consider not insuring your land: The land under your house isn't at risk from theft, windstorm, fire and the other perils covered in your home owner’s policy. So don't include its value in deciding how much homeowners insurance to buy. If you do, you'll pay a higher premium than you should.
● Install good home security systems: Many companies offer huge discounts if you have installed reliable fire/ burglar alarms or other security systems.
● Compare the value of your insured possessions every year: Keep comparing the value of your possessions that are insured. You may want to cover major purchases but also reduce the coverage on old stuff.
● Stop smoking: Many companies offer discounts to non-smokers.


Shop for the best insurance rate by doing a search
for an Maine Insurance Company
 

 

In addition to getting your Maine Home Owners Insurance, you will also need to get a Maine Home Inspection and Maine Appraisal on your house.

Loan fact: Many people are eligible for a Maine VA home loan, yet they do not realize it.  Find out if you are eligible for a Veteran Loan