Rates for high-risk drivers
If you’ve been paying a high rate for car insurance, then you may want to consider shopping around. Maine car insurance companies offer a wide range of rates. Some charge higher premiums for high-risk drivers, such as uninsured drivers. Others charge lower premiums for drivers with poor credit.
The minimum insurance coverage required by Maine law is $50,000 for bodily injury liability per person and $100,000 for accident injuries. The state also requires you to carry at least $2,000 in medical payments coverage. If you want to reduce the cost of your coverage, you might consider using a car insurance calculator. These tools can help you compare rates from multiple companies, so that you can make an informed decision about your coverage.
The type of car you drive also impacts your insurance premiums. Higher-end cars will usually have a higher premium than a Toyota Camry. You can also choose different trims and upgrades for your vehicle, which may affect your premium. For example, a Heritage Classic Ford F-150 will cost more to insure than the base model.
Rates for young drivers
When a young driver gets a speeding ticket, a collision, or an at-fault accident, their rates can increase as much as 34%. The best company to get insurance for a young driver in Maine is Concord. Its minimum-coverage insurance plan costs $1,365, which is nearly 30% less than the state average. The company raises its rates after an accident more than other companies, though. In Maine, for example, Allstate increases its rates by 22% and State Farm’s rates jump by 53%.
Insurers often view younger drivers as higher risks, and they charge higher rates to compensate. Insurers base rates on age, gender, and the number of years a driver has been driving. A 40-year-old driver will pay 2.5x less than a 19-year-old. Your credit score also matters. It tells insurers a lot about your reliability. It is the third largest factor in Maine car insurance premium calculations.
Rates for married drivers
If you’re married, you can save money on car insurance in Maine by getting the rates for married drivers. On average, married drivers pay $130 less per year than single drivers. Rates are determined based on several factors, including your age, gender, and credit history. If you have a bad credit score, it’ll increase your premiums by up to 54%. Also, the type of car you drive will affect the cost of your insurance. Expensive cars, especially sports cars, cost more to insure.
If you’re married, you’ll save the most money. A married driver in Maine will save nearly $95 a year, while a divorced driver will save $76. This information is public, so it should be used for comparison purposes.