Maine Stands Out as Home Insurance Rates Hold Steady Amid National Spikes

As home insurance rates surge nationwide, Maine has emerged as the most stable state, according to a recent Insurify report. While the U.S. saw an average 9% increase in home insurance premiums, Maine’s rates actually declined between 2023 and 2024. The state earned a perfect 100 on Insurify’s Home Insurance Climate Stability Index, thanks in part to its low exposure to severe natural disasters.

New England as a whole has fared better than many other regions, with New Hampshire, Vermont, and Massachusetts also ranking in the top 10 for stability. Maine and New Hampshire’s average annual premiums of $1,200 remain well below the national average of $2,584. Despite experiencing costly winter storms and floods, Maine’s overall disaster-related expenses are significantly lower than most states, contributing to its insurance market’s resilience.

The report credits Maine’s geographic advantages, lower insurer loss ratios, and diverse insurance market for keeping rates in check. However, experts caution that future disasters could still impact pricing, and insurers may take time to adjust rates accordingly. While Maine’s home insurance rates are currently stable, ongoing climate shifts leave room for potential volatility in the years ahead.