Lewiston, a city located inland, tends to have slightly lower home insurance costs than Portland. The average annual premium for homeowners in Lewiston is $1,485, which is still above the national average of $1,428 per year.
Local Factors Impacting Home Insurance Costs in Lewiston
Inland Location: Lewiston’s distance from the coast reduces risks of hurricane and flood damage, resulting in lower premiums.
Older Homes: Many of Lewiston’s homes are historic and require specialized coverage, which can raise premiums.
Winter Risks: Like Portland, Lewiston experiences severe winters that can lead to ice damage claims.
Home Insurance Rates by Home Age in Lewiston
The age of the home is a critical factor in determining insurance rates in Lewiston.
Home Age
Average Annual Premium
0-10 years
$1,400
11-25 years
$1,475
26-50 years
$1,555
51+ years
$1,700
Home Insurance Rates by Credit Tier in Lewiston
Here is a breakdown of the average costs by credit tier:
Excellent Credit (750+): $1,415 per year
Good Credit (700-749): $1,530 per year
Fair Credit (650-699): $1,645 per year
Poor Credit (Below 650): $1,890 per year
Cheapest Home Insurance Providers in Lewiston
Lewiston has a few affordable home insurance providers. Below are the average costs for the top providers:
Provider
Average Annual Premium
State Farm
$1,450
Allstate
$1,520
Liberty Mutual
$1,540
Travelers
$1,475
Home Insurance Rates by Deductible Amount in Lewiston
Increasing your deductible can lead to significant savings on your premium.
$500 deductible: $1,620 per year
$1,000 deductible: $1,485 per year
$2,500 deductible: $1,340 per year
Types of Homeowners Insurance in Lewiston
HO-3: Most common policy for single-family homes, offering standard protection.
HO-5: Premium coverage for those seeking comprehensive protection.
HO-8: Tailored for older homes, offering specialized coverage for repair costs.
Additional Coverage Options
Sewer Backup Insurance: For older homes with aging infrastructure.
Ice Dam Coverage: Due to Lewiston’s heavy snowfall, ice dams are a frequent cause of damage.
Earthquake Insurance: Not commonly required, but worth considering for added protection.
Frequently Asked Questions (FAQs) about Home Insurance in Lewiston
Is flood insurance necessary in Lewiston? While Lewiston is not prone to coastal flooding, it may still be needed if you live near rivers or low-lying areas.
How does my home’s age impact my insurance premium? Older homes tend to have higher premiums due to increased maintenance and repair costs.
Comparison of Home Insurance in Portland vs. Lewiston
Portland: $1,715 average annual premium
Lewiston: $1,485 average annual premium
Portland’s proximity to the coast and higher weather-related risks make it more expensive than Lewiston, which is further inland and experiences less severe weather.
