ZIP 03902 Insurance Data

Data Snapshot: ZIP 03902 (Cape Neddick, ME)

ZIP 03902 (Cape Neddick, ME) shows an average homeowners insurance premium of $1,857 per year as of 2022, based on U.S. Treasury FIO ZIP-level observations across approximately 43 reported policies. That is 5% above the national average of $1,776 per year, placing this ZIP in the 69th percentile nationally. Compared to the Maine state average of $1,294, this ZIP runs 44% above, reflecting neighborhood-level differences in catastrophe exposure, property age, and claims history.

The loss ratio for ZIP 03902 is 15.0%, meaning insurers retained a working margin after claims. Claim frequency — the share of policies with at least one claim — is 2.98%, and the average claim severity (amount paid per claim) is $9,325. Nonrenewal — insurers declining to extend coverage at policy expiration — occurs at 0.36% in this ZIP, a drop of 64.7% over the past five years; rising nonrenewal often signals insurer retreat from high-risk markets.

Across 5 years (2018–2022), premiums in ZIP 03902 have risen by 11.9%, ranging from $1,660 to $1,995 with a five-year average of $1,797 — an annualized rate of +2.9% per year. FIO data aggregates voluntary reporting from the 40 largest homeowners insurers, covering roughly 80% of the U.S. market, so figures represent market averages rather than individual policy quotes; your own premium will vary with dwelling value, deductible, coverage limits, construction type, and insurer-specific underwriting. This page is educational research only and is not insurance advice — homeowners should request quotes from multiple licensed carriers or an independent agent before purchasing or renewing coverage.