AUGUSTA, Maine — An industry regulators’ report ranks Maine among the top 10 states for homeowners insurance affordability.
The annual survey by the National Association of Insurance Commissioners also says that line of insurance is becoming more affordable in Maine, which moved up to eighth place from ninth last year.
State Insurance Superintendent Mila Kofman announced the ranking Wednesday. Kofman said Maine’s homeowner’s insurance market is one of the most competitive in the nation because the largest insurer has about 11 percent of the market — an environment that invites competition.
Kofman also noted that Maine ranks among the top states in terms of auto insurance affordability each year.