Maine has the lowest auto insurance rates in the US although it has one of the largest minimum liability coverage requirements. It must be to do with historically low accident and claim figures. It appears that drivers in Maine are well educated for the risks of driving without insurance, aware of dangers around them to avoid accidents and don’t cause reckless or drunken accidents. These characteristics make driving pleasure and safe for everyone, as well as ensuring cheap car insurance in Maine.
A lot is going for Maine motorists. The state has one of the lowest uninsured drivers figures at just 4.5% which is only 1/3 of national average and only Massachusetts has lower uninsured driver number.
The only negative figure for Maine residents is that living costs are not cheap here. This would probably make vehicle owners feel that they are really getting cheap car insurance in Maine. When the living costs are high and premiums cheap it is likely that smaller portion of household budget is spent on insuring automobiles.
Maine Car Insurance Laws and Requirements
Even though numbers of uninsured drivers don’t appear to be a problem, Maine requires Uninsured Driver Coverage to be included in minimum mandatory liability car insurance policies. Here are the requirements;
- $50,000 for bodily injury or death per person.
- $100,000 total for bodily injury or death per accident.
- $25,000 for property damage.
- Uninsured motoristbodily injury of $50/100 or combined single limit of $100,000
- and a minimum of $2,000 for medical payments coverage is also required.
Motorists are further lucky to have a very informative State Bureau of Insurance website. It is a place to check about your licensing, insurance and vehicle registration information, as well as checking about the insurers and brokers.
Car insurers must love doing business in this state. Who wouldn’t want highly educated drivers who don’t need to be persuaded to get insured? Also, relatively safe driving conditions and crime would keep companies happy. When you have quite a few companies who are keen to do business in a state you will have a very competitive environment that benefits motorists further.
Lower accident risks and relatively more affordable premiums don’t guarantee that every motorist will have reasonably priced policies. You will still need to check if you are enjoying one of the most comprehensive policies at affordable prices. If you have been automatically renewing your policy for some time you are probably missing out on special discounts and deals. Companies constantly improve their policies and sharpen their prices. However, usually insurers don’t update existing policies with better coverage and offer automatic car insurance discounts. Policyholders must ask for it and initiate the upgrade.
When you know there are better policies at much cheaper prices out there you will have strong hand when you are talking to your insurer. Don’t let an agent brush you off with their usual line of “we don’t negotiate”. They do negotiate and you are not actually asking to negotiate. All you are asking them is to offer you the same rates as they are offering to their new customers. As mentioned above, existing customers are kept in their old rates while the new customers enjoy better coverage at a lower price.
Average Cost of Car Insurance in Maine
The premium expenditure in the Pine Tree State is stable and consistently the cheapest in the US. This is probably down to lack of large urban areas throughout the state. This in turn results in low accident numbers that reduces claims and claim payments. Furthermore, main doesn’t suffer from serious weathers like hailstorms or tornadoes even though it may get a lot of snow. Generally, insurance companies are not paying out a lot in the state that pushes rates down for everybody.
Average auto insurance cost in Maine is $593, which is around $250 less than the national average. Living in a cheap state to insure automobiles is a huge advantage for policyholders because this is a major factor that individual motorists cannot influence. It requires collective effort to reduce overall risks in a state. Maine has this collective awareness and it shows through figures like low uninsured driver numbers.
Drivers in Maine are lucky to have the cheapest full coverage car insurance rates in the US too. Average estimated quotes for a good driver is $808 and once again the cheapest in the country. In fact it is over $500 cheaper than the US average of $1,325.
The most striking revelation is that the difference between average premium expenditure and full coverage cost is only $200. This may be because most popular auto insurance policy in Maine is full coverage and that is why average premium expenditure is closer to full coverage premium estimate. In any case, you shouldn’t pass the chance to buy good level of coverage if you only need to pay few dollars more.
Cheapest Car Insurance Companies in Maine
Where a policyholder lives and parks his vehicle plays an important role in premium calculations. You need to find the cheap auto insurance companies to have any chance of getting decent rates. You may be paying twice the fair premium for a driver of your particulars if you haven’t been shopping for the best quotes and auto-renewing with the same company for years. You should get several instant online auto insurance quotes and check if you are really paying the fair premium. Also, you can have a look at the average costs and see if you are paying a lot more or not.
There are plenty information available to policyholders these days that it is easier to correct a problem like expensive auto insurance. For example, the cheapest insurers in your state are listed below. There is no guarantee but you can probably get a decent quote from at least one of them.
- GEICO, $431
- Patriot, $526
- Countryway, $570
On the other hand, high risk drivers shouldn’t expect great rates from every insurer they apply. Some insurers would make their feelings clear by providing deliberately high quotes. In that case, you should try to find the best car insurance for bad driving record. You should at least get 10 quotes and see if any of them is affordable. Also, you should look at the problems that led to such bad driving history and try to correct them.