How to Find the Most Affordable Car Insurance in Maine

Fran
Lucy Lazarony
July 9, 2020

In Maine, the average auto insurance rate is $927 annually, which is 35 percent below the national average. People in Maine already know all about affordable car insurance but there are ways to get car insurance rates in Maine even lower. There are tips and strategies you can use to lower your auto insurance premium. We’ll get to those tips a little later on but first we’ll take a closer look at car insurance in Maine.

Minimum Insurance Coverage in Maine

Liability coverage helps pay for the other person’s expenses if you are at fault in an accident. Every state has its own minimum liability requirements for the drivers in their state.

The state minimum liability requirement in Maine is $50,000 bodily injury liability coverage per person, $100,000 bodily injury liability coverage per accident and $25,000 property damage liability coverage per accident.

This minimum coverage cost is around $405 a year on average. Maine drivers are also required to pay uninsured and underinsured motorist coverage of $50,000 bodily injury per person and $100,000 bodily injury per accident. And finally Maine drivers are required to pay medical payments coverage of $2,000 per person.

A Comprehensive Policy Costs More

In Maine, a full coverage policy with collision and comprehensive insurance coverages and $1,000 deductibles costs $837 on average annually.

Collision insurance coverage is insurance coverage that helps to repair or replace your car if it’s damaged in an at-fault accident with either another vehicle or an object such as a tree or a fence. Comprehensive auto insurance covers events not covered by collision insurance coverage. These events include vandalism, theft and fire and damages caused by weather such as a tornado, a hurricane, a windstorm and a hailstorm.

If you have a loan on your car, your lender may require you carry both collision and comprehensive insurance coverages. A deductible is the amount you need to pay before your auto insurance company begins to pay for damages to your car and your losses. Both collision and comprehensive coverages require deductibles. Choosing a high deductible is one way to lower your insurance premium.

Maine Is an At-fault State

When it comes to auto insurance, Maine is an at-fault state. This means drivers are responsible for the damage they cause to another vehicle. An insurance adjuster determines who is at fault in an accident.

Why Is Car Insurance So Affordable in Maine?

Maine has some of the best auto insurance rates in the country because it has a high percentage of residents living in rural areas, has low population density and has the lowest percentage of uninsured drivers in the country.

In Maine, there are fewer drivers on the road and fewer accidents and claims.

All of these things help to make Maine one of the most affordable states for car insurance. And finally, in Maine there are many different insurance providers and competition is high. This competition is good for consumers and delivers low rates.

Cheapest and Most Expensive Cities

In Maine, the city with the cheapest car insurance is Presque Isle with an average annual premium of $867. The city with the most expensive car insurance is Ellsworth with an average annual premium of $1,003.

How to Save Money on Car Insurance

Looking for ways to save money on car insurance? There are all kinds of tips and strategies that you can try. Here’s a roundup. Use as many tips as you can to save money.

Have a clean driving record. If you follow the rules of the road and maintain a clean driving record you will save money on your car insurance. Maine drivers without a recent at-fault accident save 31 percent on their auto insurance premiums. But break some rules and you’ll pay for it with higher premiums. In Maine, car insurance premiums increase by 34 percent after a DUI, 31 percent after an at-fault accident and 19 percent after a speeding ticket. What does that mean in dollars and cents? In Maine, after your first, at-fault accident you could see your auto premium increase by an average of $432 annually. And with a DUI you could see your premium rise by around $487 annually. If you’ve been a good driver be sure to ask for a good driver discount from your auto insurance company. You’ve earned the savings off your premium.

Stick with your auto coverage. You’ll pay higher insurance rates if you don’t maintain continuous coverage of your auto insurance. In Maine, drivers who don’t maintain continuous coverage pay an average of 6 percent more than those drivers with five or more years of insurance history. So stick with your auto insurance coverage and save money.

Be a married driver. If you are married, you will pay less for your car insurance. There is a correlation between being married and exhibiting safe driving habits. And because of this, married drivers pay less for auto insurance than singles. In Maine, married drivers save $95 per year on insurance premiums.

Maintain a good credit score. If you have good or excellent credit, you will save money on your car insurance. If you have no credit or bad credit you will pay much more for your auto insurance premiums. Auto insurance companies use consumer credit data to assign risk pools and to set insurance rates. And those with poor credit pay much more for their auto insurance premiums. Drivers with excellent credit pay less. In Maine, drivers with excellent credit save around $832 per year on insurance compared with drivers who have bad credit. Looking for ways to boost your credit score? Pay down debt and work on getting all past due accounts current are two ways to lift your credit score.

Bundle your auto policy. Bundle your auto policy with another policy with your insurance company such as a homeowners policy. This bundling of policies will save you money on your premiums.

Get a multi-car discount. Insure more than one car at the same auto insurance company and you’ll save money. Got two cars? Pick up your multi-car discount today.

Pay less often and save. Rather than paying auto insurance premiums with monthly payments, pay the annual amount or the six-months amount. Your premium is lower when you pay once or twice a year.

Check safety and anti-theft features. Having certain safety and anti-theft features on your car will lower your insurance premium. Check with your auto insurance company to find out if the safety features and anti-theft features on your car warrant a discount.

Check for membership discounts. Members of some professional organizations and affiliates get discounts on car insurance. So take out your wallet and check your memberships with your insurance company. Are you due any discounts?

Pay less on older cars. The maximum payout for comprehensive insurance coverage and collision insurance coverage is limited by the value of the car. So if your older car has a low market value, it may not make financial sense to carry comprehensive and collision coverages any longer.

Age matters. Be older than 25 and younger than 65. Younger and older drivers have more accidents and pay more for car insurance. The drivers who are in-between those ages pay less.

Be a female driver. Women make fewer accident claims on their insurance than men and are rewarded with lower auto insurance rates. Men make more accident claims and pay more.

Drive low miles. Someone with a heavy commute to and from work is going to pay more on their car insurance. But if you are a low-mileage driver you are going to pay less. So drive less and pay less on your auto insurance premium.

Opt for a high deductible. Choosing a high deductible for your auto insurance is one way to lower your premium. It is a good strategy as long as you plan ahead. Put the money for the deductible in a small emergency fund. This way you will have the money that you need should you need to file an insurance claim.

Check for discounts. Students and veterans as well as good drivers all may be eligible for discounts on car insurance. So ask your car insurance company if you qualify today.

Pick a safe neighborhood. If you live in a neighborhood with few accident claims and low crime, you will pay less on your car insurance. Live in a neighborhood with high accident claims and auto theft and you’ll pay more. So choose a safe neighborhood and save money on car insurance.

Be a homeowner. Statistics show that people who own their homes drive more safely. So let your auto insurance company know that you own your home and enjoy the savings on your auto insurance premium.

Shop around. One of the best ways to save money on car insurance is to shop around. You’ll want to get quotes from several different insurance companies. SmartFinancial makes it easy for you to do. Just input the type of insurance you are looking for plus a zip code to get started. Answer a few, short questions and you’ll be comparing auto insurance rates in Maine in no time.

SmartFinancial has access to more than 200 insurance companies so you are bound to find the insurance coverage and the price you are looking for. So shop smart for insurance and drive safely along the roadways of Maine.

Get a Free Auto Insurance Quote Online Now.

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