Average homeowners insurance cost in Bangor, ME

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As per Insure.com’s rate data analysis, the average cost of homeowners insurance in Bangor is $1,308 per year (for the coverage level of $300,000 for dwelling, $100,000 for liability protection and $1000 deductible), It’s $1,196 less than the national average of $2,504.

Homeowners insurance rates differ significantly from one home to another. Home insurance rates in Bangor depend on several factors, including:

Size of your home
Age of your home
Amount of coverage you need
Location
Your credit score

Vermont Mutual is the cheapest homeowners insurance company in Bangor with an average annual premium of $1,308 per year.

This guide covers everything from available coverage options to companies with the cheapest homeowners insurance rates in Bangor. Keep reading to learn about the monthly cost of homeowners insurance in Bangor, the cost for different dwelling coverage levels, and discover which companies provide the most affordable home insurance in Bangor.

Key takeaways

In Bangor, homeowners insurance costs $1,308 annually.
Vermont Mutual offers the most affordable homeowners insurance in Bangor with an average annual premium of $646.
If you increase your dwelling coverage from $200,000 to $300,000, your annual home insurance premium will be $351 higher.

Average homeowners insurance cost in Bangor per month

Bangor homeowners pay an average of $109 a month, based on our rate analysis. It’s $6 less than the state average of $115 and $100 less than the national average for home insurance across the United States. The price of your homeowners insurance policy in Bangor 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 Bangor

In Bangor, ME, homeowners pay an average of $957 annually for a $200,000 home. The annual cost of home insurance is influenced by factors such as the risk of natural disasters in your area.

Regions more susceptible to natural disasters, such as floods, hurricanes, or tornadoes, typically face higher rebuilding costs, leading to increased insurance premiums. It is important to understand that standard insurance policies might not cover damages caused by floods or hurricanes. If you live in a flood-prone area, it is advisable to purchase flood insurance.

Average homeowners insurance cost for a $300,000 house in Bangor

According to Insure.com’s rate analysis, homeowners in Bangor typically pay an average of $1,308 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 $351. 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 Bangor by Company

Among the carriers analyzed, Vermont Mutual is the cheapest homeowners insurance company in Bangor. It’s average annual rate for Bangor homeowners is $646. Auto-Owners ranks second and Chubb Ltd makes it to the third spot with an average annual home insurance rate of $915.

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 Bangor and prepared a list of the cheapest home insurance providers. You can find below the Bangor home insurance companies and their average annual premium.

Home Insurance Company	Annual rate
Vermont Mutual	$646
Auto-Owners	$811
Chubb Ltd	$915
State Farm	$996
Allstate	$1,124
Frankenmuth Insurance	$1,162
Quincy Mutual	$1,298
MMG Insurance	$1,575
Farmers	$2,272
The Hanover	$2,283

Methodology

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