Month: October 2022

Service Line Insurance in Maine – Who Needs It?

Posted on by Bob O'Brien

Service line insurance is a new coverage that some homeowners insurers offer. It covers property not included in “off the shelf” policies. What is it, and do you need it? Find out here.

Service line insurance is a new coverage that some homeowners insurers offer. It covers property not included in "off the shelf" policies.

Service Line Insurance – What is It?

Service line insurance pays for damage to some underground lines outside the foundation of your home. Most insurance companies define that as:

  • Public utility water and sewer pipes between the street and your home.
  • Underground private water lines between your well head and your home.
  • Private septic lines between your home and your septic tank.
  • Underground electric, gas or telecommunication lines on your property.

What Kind of Damage Does Service Line Insurance Cover?

For example many forms cover damage from:

  • Wear & tear
  • Rust, corrosion or deterioration
  • Damage from tree roots (some companies exclude tree root damage).
  • Collapse, except for sinkhole or subsidence.

What’s Not Covered?

These claims are typically excluded:

  • Swimming pools
  • Irrigation systems
  • Unclogging plumbing blockages
  • Some policies exclude damage from tree roots.

Is Service Line Insurance the Same as a Water District Plan?

No. Water district plans are usually service agreements, not insurance. Click here to learn about the difference between service line insurance and water district plans.

Service Line Insurance Covers More than Pipes

Service Line insurance covers replacement or repair of the damaged pipe. In addition, it covers excavation costs. Also, the cost to replace your excavated lawn or pavement. Some policies also cover costs for you to stay elsewhere while your home’s water or sewer system is not working.

How Much Service Line Coverage Can I Afford?

Service line coverage typically has a $10,000 limit, for example. And most Maine service line policies have a $500 deductible. And the cost is surprisingly reasonable: often less than $50 per year. So check with your agent to see what’s available to you.

Service Line Insurance Quotes

If you live in Southern Maine, contact a Noyes Hall & Allen agent for a home insurance quote that includes service line coverage. Call us at 207-799-5541 or get up to 5 insurance quotes online. Because we’re independent insurance agency in South Portland, we offer a choice of Maine’s preferred home insurance companies. As a result, we can compare to find you the best insurance value. In short, we’re independent and committed to you.

Maine Insurance Rates September 2022 Home and Auto Update

Posted on by Bob O'Brien

Maine insurance rates remain among the lowest in the US. But home and auto rates are up as insurers struggle with rising claim costs and rising construction values. Portland Maine area insurance buyers saw increasing prices in the 3rd quarter of 2022.

Maine Auto Insurance Rates – June to September

Between June and September 2022, Portland Maine area auto insurance rates averaged a 3.7% increase at renewal, up from 1.7% last quarter. That’s still below the national average of 4.3%. 

Maine insurance rates for autos increased 3.7% in 3Q 2022.

About 62% of auto insurance buyers experienced an increase in premium. The other 38% saw premiums the same or less than before. Higher repair costs, delays finding replacement parts and increased driving speeds are all factors insurance companies site when they have to increase rates. Customers’ rates might decrease if accidents and violations “age off” or they choose to reduce or remove coverage on vehicles.

Maine Home Insurance Rates – June to September

Portland Maine home insurance renewal rates increased 9.6% from June to September. That’s rising faster than auto premiums, and an increase from last quarter’s 4.1% clip. That’s still less than the national average.

Maine insurance rates for homeowners rose 9.6% in 3Q 2022.

Home owners were more likely than auto insurance customers to see a rate increase: 91% saw a renewal increase. Only 9% saw rates stay the same or decrease. Higher building costs contributed to increased rates. So did longer rebuilding times due to labor shortages. The cost to rent temporary housing is very high now. That drives property insurance rates higher. So does the increasing cost of property reinsurance. That’s affected by disasters and other uncertainties.

Maine Insurance Rates – Find the Best Value

If you live in southern Maine, you can get up to 5 insurance quotes in 10 minutes from our website. Or contact a Noyes Hall & Allen agent in South Portland at 207-799-5541 for a free no-obligation custom review. We offer a choice of several insurance companies. That means we can help you find the best insurance value.

We’re independent and committed to you.