Cheapest home and auto insurance bundle in Maine

Cheapest home and auto bundles in Maine

The price you pay with a home and auto bundle depends on the base prices for the home and auto policies as well as the amount discounted on each policy. The table below shows the average rates for home insurance and auto insurance and how much the total premiumThe payment required for an insurance policy to remain in force. Auto insurance premiums are quoted for either 6-month or annual policy periods. is with and without the bundling discount.

The cheapest car and home bundles in Maine are from Auto-Owners, followed by State Farm.

Company	Home premium	Auto premium	Bundle premium	Without bundle premium
Auto-Owners	$853	$737	$1,385	$1,590
State Farm	$1,192	$1,001	$1,613	$2,193
Metropolitan	$1,138	$1,417	$2,050	$2,555
Allstate	$1,254	$1,365	$2,130	$2,619
Frankenmuth Insurance	$1,321	$1,395	$2,175	$2,716
MMG Insurance	$1,443	$1,260	$2,267	$2,703

The companies offering the cheapest home and auto bundles in Maine

Auto-Owners

Our take: Auto-Owners car insurance customers rank the company well for high renewal rates and affordable monthly premiums. Its home insurance customers generally score the company well for customer service and discounts. Auto-Owners works solely through agents and doesn’t offer online quoting, but offers many other online services.

State Farm

Our take: State Farm topped the list of auto insurance companies in a recent ranking, with customers giving it extremely high satisfaction scores. The company is also the top pick for home insurance, with customers giving it high marks for customer satisfaction, ease of service and for its various policy offerings. State Farm is the biggest property and casualtyLiability or loss resulting from an accident. insurance company in the nation.

Biggest home and auto bundle discounts in Maine

At 26%, the largest discount for bundling home and auto insurance can be found at State Farm. On the other hand, of the companies evaluated, the smallest multi-policy discount belongs to Auto-Owners, at 13%.

Company	Home and auto bundle discount
State Farm	26%
Frankenmuth Insurance	20%
Metropolitan	20%
Allstate	19%
MMG Insurance	16%
Auto-Owners	13%

How do home and auto bundles affect car insurance rates in Maine?

The table below displays Maine auto insurance rates both before and after a bundling discount is applied. The cheapest price after the multi-policy discount belongs to Auto-Owners at $630. The most significant discount on auto is offered by MMG Insurance at 25%.

Company	Auto premium before bundling	Auto premium after bundling	$ difference after bundling	% difference after bundling
Auto-Owners	$737	$630	$108	15%
State Farm	$1,001	$811	$190	19%
MMG Insurance	$1,260	$945	$315	25%
Allstate	$1,365	$1,098	$267	20%
Frankenmuth Insurance	$1,395	$1,115	$280	20%
Metropolitan	$1,417	$1,239	$178	13%

What are the best home and auto insurance companies in Maine?

When shopping for the right company for your home and auto insurance, it’s important to consider more than just bundling. You want a company that has a solid reputation as well as great rates. Below are the best home and auto insurance companies in Maine overall based on our analysis of rates, financial stability and customer complaints.

Best home insurance companies in Texas

Best home insurance companies in Maine
Best car insurance companies in Maine

Company	AM Best	NAIC	Average annual premium	Insurance.com score
Vermont Mutual	A+	0.07	$654	5.00
Auto-Owners	A++	0.33	$836	4.96
State Farm	A++	0.95	$1,002	4.84
Chubb Ltd	A++	0.18	$1,112	4.82
Allstate	A+	0.9	$1,026	4.75
MMG Insurance	A	0.61	$1,488	4.43
Quincy Mutual	B++	0.24	$1,312	4.40
Frankenmuth Insurance	B++	0.03	$1,323	4.40
Farmers	A	0.54	$2,267	4.00
The Hanover	A	0.5	$2,893	3.66

Company	AM Best	JD Power by state	NAIC	Average annual premium	Insurance.com score
Auto-Owners	A++	840	0.5	$707	4.02
Travelers	A++	782	0.49	$853	3.62
State Farm	A++	829	0.7	$1,262	3.11
Progressive	A+	802	0.65	$1,106	3.09
Allstate	A+	816	0.65	$1,147	3.06
Geico	A++	836	0.91	$1,228	2.92
Farmers	A	821	0.8	$1,664	2.37

Home and auto bundle insurance in Maine cities

Where you live in Maine will impact what you pay for an auto and home insurance bundle. Take a look at average home and auto insurance bundles by city below.

City	Auto & home after discount	Auto & home before discount	$ Difference	% Difference
Anson	2,051	2,547	497	19%
Auburn	1,975	2,445	470	19%
Augusta	1,930	2,390	460	19%
Bangor	1,914	2,365	451	19%
Belfast	1,897	2,346	450	19%
Berwick	1,957	2,411	454	19%
Boothbay Harbor	1,943	2,393	449	19%
Bowdoinham	1,870	2,315	445	19%
Brownfield	2,072	2,579	508	20%
Burnham	1,930	2,394	463	19%
Caribou	1,813	2,246	433	19%
Cliff Island	1,908	2,346	438	19%
Dover-Foxcroft	1,959	2,434	475	19%
Edgecomb	1,966	2,431	465	19%
Ellsworth	1,898	2,347	449	19%
Estcourt Station	1,887	2,326	439	19%
Farmingdale	1,941	2,403	463	19%
Gorham	1,807	2,236	429	19%
Harrington	1,973	2,447	474	19%
Holden	2,011	2,489	478	19%
Jackman	1,969	2,443	474	19%
Leeds	2,003	2,482	479	19%
Lewiston	1,980	2,452	472	19%
North Yarmouth	1,868	2,305	437	19%
Springvale	1,902	2,340	439	19%

How does bundling home and car insurance work?

The concept of bundling is pretty basic. You buy more than one type of insurance from the same company and, in exchange for the increased business, the insurance company gives you a discount. And there’s an additional benefit for the insurer for offering bundles: Customers who bundle are more likely to renew their policies.

You typically get discounts on both car insurance and home insurance when you bundle coverage. The discount isn’t the same for both policies. Each provider has its own discount formulas. Companies may offer a more substantial discount on one than the other.

The pros and cons of home and auto insurance bundles

The biggest benefit of bundling your home and auto insurance is a decreased premium.

But keep in mind that you won't always save money bundling. You could find an insurer with a low price on one of the two policies, which could result in better savings than a bundle. Here’s how that works:

If you currently pay $1,000 for car insurance from one insurer and $1,200 for home insurance from another, that's a total of $2,200.
But let's say you decide to buy your home insurance from your auto insurer. The cost for the new home insurance policy is $1,500, or $300 more than your current cost.
Your total rate under the bundle would be $2,500, a $300 increase.
That means you'd need a bundle discount of at least $400 or so to lower the total bundle rate enough to save money compared to the price you currently pay for separate policies.

That's why you should compare home and auto insurance bundle quotes to what you're paying for separate policies. Rates on bundles aren't always lower.

Should you bundle home and auto insurance in Maine?

Prior to signing up for an auto and home bundle, it’s important to shop around. Bundling your car and homeowners insurance has many advantages; you only have to deal with a single company and with a single bill, and you typically get a discount on both policies. However bundling isn’t always the best deal.

Some companies have cheap car insurance rates but less competitive home insurance rates, and vice versa. You might pay less overall by choosing two different companies for your insurance.

Shop around and evaluate Maine car insurance rates on an individual basis and with a bundling discount to make sure you’re getting the best deal before you buy.

Methodology

In the spring of 2023, Insurance.com analyzed rate and discount data from Quadrant Data Services. The rates, from 2022, are the most recent available to Insurance.com and are based on a 40-year-old male driver with a 12-mile daily commute, good credit and a clean driving history. Rates were fielded for a full-coverage policy (100/300/100 with a $500 collision and comprehensive deductible). Homeowners insurance rates are based on $300,000 in dwelling coverage with $300,000 in liability and a $1,000 deductible.

FAQs: Home and auto insurance bundling

Below are answers to common questions about bundling home and auto bundles and other multi-policy discounts that can save you money on your insurance.

What information do you need to bundle your policies?

To bundle your policies you will need all of the details for both the cars and the home you want to insure. That includes VINs, driver information and details about the home. Your current home and auto policies will list this information for easy reference.

Is there a limit on how many policies can be bundled?

Generally, you can purchase as many insurance policies as you want from the same company. However, that doesn’t mean you will get a bundling discount with every policy you buy. There may be a limit on the number of policies you can bundle with one company. For instance, you might only qualify for a bundling discount on the three most expensive policies. Speak with an agent from your insurance company to learn more about the rules.

Which insurance companies bundle home and auto insurance?

Almost every insurance company offers a bundling discount, often called a multi-policy discount. Multi-policy discounts aren't just for auto and home. They often include other home insurance policies like renters and condo, as well as motorcycle insurance and in some cases life, RV, boat, and others.

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