How Maine Regulators Say They Saved Residents $5.8 Million on Insurance

The Maine Bureau of Insurance reported that its employees’ work regulating insurance rates saved residents $5.8 million in potential increases for auto and homeowners coverage in 2025.

The regulatory agency also said it recovered more than $4.5 million for Mainers and businesses through investigations into consumer complaints.

“Every day, our staff helps Mainers navigate insurance questions and concerns,” said Superintendent Bob Carey. “We carefully review proposed rate increases to ensure they are justified, helping keep coverage fair and affordable for Maine people and businesses.”

The Bureau of Insurance’s budget for fiscal year 2025 was $12,374,850.

For personal auto insurance, the bureau approved rate changes that kept overall premiums flat in 2025, benefiting more than 900,000 policyholders. According to the National Association of Insurance Commissioners, Maine drivers paid an average annual premium of $926 based on 2023 data – the lowest in the nation. The national average was $1,438, about 55% higher. The bureau estimates its review process prevented nearly $2 million in additional auto insurance costs this year.

In the homeowners insurance market, approved rate changes resulted in an average increase of 2.9% in 2025, affecting about 340,000 policyholders. The bureau’s review process – including rejecting or modifying some proposed increases – saved homeowners an estimated $3.8 million.

Beyond rate reviews, the bureau said it help consumers resolve denied claims, underpayments, and incorrect charges. In 2025, these efforts resulted in more than $4.5 million returned to Maine residents and businesses. The consumer health care division investigated 324 complaints, recovering about $1.5 million, while the property and casualty division responded investigated 290 complaints, recovering more than $3 million.

The bureau did not mention it but a year ago it also approved a 9.6% reduction in workers’ compensation insurance loss costs, which saved employers approximately $27 million.

Source: Maine Bureau of Insurance

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