Maine is a “fault” car insurance state, meaning drivers pay for damages caused by them in an accident. Drivers are also required to carry uninsured/underinsured motorist coverage in case an accident involves someone without adequate car insurance – uninsured/underinsured motorist insurance protects drivers should an incident happen with someone not covered or who doesn’t carry enough. Furthermore, Maine offers optional additional liability policies, including collision and comprehensive that cover damage from events like fires, theft or extreme weather incidents.
As a rule, the less costly option is purchasing only liability coverage at the minimum required by Maine law, while full coverage (comprehensive and collision coverage) tends to be more costly. Keep in mind that not all policies are created equal and that your car insurance cost may fluctuate considerably depending on various factors.
Attributes that typically influence auto insurance rates include age and gender, driving history, credit score and vehicle model. High-end luxury and sports cars tend to cost more than standard sedans or SUVs due to being more likely to be damaged or stolen; your type of car also plays a part; some types require more extensive repairs after an accident than others.
An outstanding driving record can play an instrumental role in lowering car insurance costs in Maine. Your premiums could drop if you have not received any traffic citations within three to five years; exact rules may differ between insurers but generally those with clean records tend to enjoy more budget-friendly rates.
However, if you have been involved in an at-fault accident or received any tickets recently, your rates may increase accordingly. Poor credit also presents higher risks to insurance providers and requires them to cover additional expenses associated with covering them.
MoneyGeek’s Maine Car Insurance Calculator will give you an accurate estimation of your potential car insurance rates in Maine. With this tool, it provides quick estimates without needing to divulge personal or sensitive data. Once you know an approximate estimate, compare quotes from multiple providers in order to secure the lowest possible rate.
Key factors that could have an effect on your auto insurance premium in Maine include: