Car insurance rates in Maine vary dramatically based on factors like age, driving history and credit. Drivers aged 20-25 typically face the highest premiums; however, this trend tends to reverse once drivers reach 25 and most find that their auto insurance costs have decreased substantially by the time they reach their 30s.
Car insurance providers use various factors to evaluate your risk profile and assign you a rating factor that dictates how much your car insurance policy costs. Below you can explore average rates by rating factor to gain insight into how each factor influences your rate.
When shopping for car insurance in Maine, it’s essential to understand and meet the minimum coverage requirements imposed by the state. These requirements include liability coverage of $50,000 per person and $100k per accident as well as medical payments of at least $2,000 per person. Liability coverage should be prioritized over any other coverage as it can cover medical costs related to accidents that happen after occurring – making sure liability coverage is present can help cover these expenses incurred after an incident.
Compulsory comprehensive and collision coverage should also be added, to protect against damages from events other than collision, such as theft or weather events. Unfortunately, the additional policies tend to be more expensive than basic liability coverage; raising your deductible can reduce this expense; just make sure that it fits within your budget should a claim arise!
Your vehicle’s make and model can also have an impact on its insurance cost. In general, sports cars and luxury vehicles tend to be the most costly to insure while four-door sedans often make for cheaper rates based on how often it’s seen on the roads. But popularity can either increase or decrease these rates depending on its usage on public roads.
As you shop for car insurance in Maine, it’s wise to gather quotes from multiple providers. By using a comparison website such as MoneyGeek’s car insurance calculator you can quickly obtain estimates from various firms without disclosing personal or sensitive data.
Not only should you compare quotes, but you should also assess a company’s reputation and customer service. Companies with excellent ratings tend to offer cheaper premiums; Travelers and Concord Group in Maine both provide teens and seniors with affordable insurance premiums; additionally they have low rates for drivers with clean driving records compared to competitors such as Nationwide or Progressive. Conversely, your premiums may increase after an at-fault accident or DUI conviction – the average increase after DUI conviction and 25% following speeding tickets is 46% for Maine drivers.