Maine Car Insurance: Get the Cheapest Rates on Your Policy
Maine is known for its beautiful coastal towns, scenic lighthouses, tons of lobster, and is one of the top 5 states with the lowest car insurance rates in the country.
The average Maine car insurance rate (with “full coverage”) is $925 per year.
Such a low rate is due to a high percentage of residents living in rural areas, low population density, and the lowest percentage of uninsured drivers in the country.
In this guide, we’ll be helping you find the best blend of coverage and premium for your best protection.
Average Car Insurance Rates in Maine
Statewide average premiums in Maine for three popular car insurance coverage levels (all premium information we’ll be providing comes from our sister site, CarInsurance.com) are as follows:
- “Full coverage” –100/300/100***, with comprehensive and collision coverage, including a deductible of $500: $925 per year
- Liability only, with 50/100/50: $364 per year
- Liability only, using the state minimum coverage levels: $359 per year
Coverage levels are often explained with three numbers:
- The first number represents bodily injury or death to one person in a single at-fault accident.
- The second number represents bodily injury or death to two or more people in a single at-fault car accident.
- The third number refers to property damage caused to other vehicles in an at-fault accident.
Full coverage also includes collision and comprehensive coverage, which pays for repairs to your vehicle no matter who is at fault.)
Depending on your driving profile and the different factors that make up your premium, the average rate may not apply to you however it makes for a good starting point.
You may pay more or less depending on where you live, your age, and the company providing your coverage.
Factors that Will Affect Your Maine Car Insurance Premium
Below are seven factors that will determine the premium you’ll pay for Maine car insurance.
Gender
In most states, it’s common for gender to play a large role. That is not the case in Maine.
A 30-year-old male as well as a 30-year-old female will pay the same price for a full coverage policy, at the rate of $90 per month.
Your age
Like most states, age plays a large role when determining your rate.
Drivers under the age of 25 will pay much more for a policy. An 18-year-old male driver living in Augusta will pay $96 a month, or $1,052 per year, for state minimum coverage. A 30-year-old male with the same coverage, also living in Augusta, will pay $32 a month, or $384 per year.
In most of the U.S., insurance rates will go up once you reach the age of 65.
However, in the state of Maine, the opposite happens: rates drop past age 65.
For example, a 75-year-old man will pay $79 per month for full coverage, or $948 per year, while a 30-year-old man with the same policy will pay $89 per month, or $1,068 per year.
Driving records
Insurance companies look to your driving record when determining your rate.
Don’t take it lightly, this will be the single biggest factor.
Speeding 10-15 miles over the limit will result in a 15% premium increase. Speeding 30 miles over the limit will produce a 19% premium increase.
Meanwhile, the average increase in Maine is 37% for a DUI/DWI first offense (subsequent offenses will be much higher and carry serious penalties).
There is an average 20% increase in premiums for an at-fault accident. That percentage may differ based on the dollar amount of any property damage claim, or whether or not the accident resulted in bodily injury to you or to other drivers.
Credit history
Insurance companies look to your credit score when it comes to your premium.
A driver in Maine with bad credit will pay 74% more on their premium than a driver with good credit.
Unfortunately, Maine is higher up on the list of the worst states for drivers with poor credit.
Choosing a company that is more lenient on poor credit drivers can help lower your premium.
Coverage limits
As stated before, a policy with liability limits of 100/300/100 is $925 per year, while liability coverage limits of 50/100/50 is $364. State coverage for minimum liability is $359 per year. The amount of coverage you choose for your premium should be based on your net worth.
For example, if your net worth is less than $50,000, you might be able to take the state minimum coverage. If your net worth is between $50,000 and $100,000, choose at least 50/100/50. If it's more than $200,000, choose at least 100/300/100.
Keep in mind that state minimum liability may not be enough.
Too little coverage could lead to a lawsuit or claim against your personal assets, as you may be forced to pay for out-of-pocket expenses if your policy limits are exceeded.
Vehicle(s) on the policy
Depending on the year and make/model of your vehicle, rates can differ. An older vehicle will usually cost less to insure than a brand-new one.
Brand-new cars and certain vehicle types, like SUVs, pickup trucks, sports cars, and luxury cars, will cost more to insure than a 10-year-old sedan. One major difference being that the older vehicle may not require collision and comprehensive coverage.
It is recommended that if your car is less than 10 years old, buy collision and comprehensive. If your car is more than 10 years old, you may only need collision and comprehensive if it’s worth $3,000 or more, or if you can’t afford to replace your car if it’s totaled.
The auto insurer
The company you choose your premium with will be a major factor. The difference in companies for the same policy can be thousands of dollars.
Below are the average statewide premiums for full coverage (100/300/100) by four major carriers operating in Maine:
- GEICO: $516 per year
- State Farm: $948 per year
- Progressive: $1,025 per year
- Allstate: $1,212 per year
Notice that Allstate, the most expensive provider, charges premiums that are more than double those of GEICO, the least expensive provider.
Average Maine Car Insurance Rate Based on City
Within the same state, there can be major variations in premium levels from one area to another.
With the statewide average premium at $925 in Maine for 100/300/100 coverage, average premiums on a local level are as follows:
- Auburn: $883
- Bangor: $877
- Lewiston: $880
- Portland: $888
- South Portland: $819
Higher populated areas, such as Portland, will bring a rise in rates. More traffic means more potential for accidents. More remote and rural areas will have lower rates.
Auto Insurance Laws in Maine
Maine car insurance laws require that drivers carry minimum liability coverage limits of 50/100/25 on their vehicle. The minimum car insurance requirements in Maine are listed below:
- Minimum bodily injury liability, one person: $50,000
- Minimum bodily injury liability, two or more people: $100,000
- Minimum property damage liability: $25,000
- Uninsured/underinsured motorist bodily injury: $50,000/$100,000
- Medical Payments (MedPay): $2,000
Uninsured/underinsured bodily coverage is required in Maine and should match the general liability limit you choose.
This provision will protect you and pay the cost of damage to your vehicle and your hospital bills if you're injured in an accident. That’s the fault of an uninsured or underinsured driver. If you don't have this coverage, all or most expenses you incur will come out of your own pocket.
Medical payments (sometimes referred to as MedPay), is also a requirement in Maine, though it’s an option in most other states.
It covers medical and funeral expenses of covered drivers and passengers after an accident, up to the coverage limit, no matter who's at fault. This provides you and your passengers with coverage for medical expenses if your health insurance limits are exceeded.
Basic Information on Optional Coverages in Maine
As is the case in virtually every other state, there’s a wide range of optional coverages available to add to your policy in Maine.
The most popular include:
Collision & comprehensive
While the personal property damage portion of a car insurance policy covers the cost of repairs to the other driver’s vehicle when you are determined to be at fault, it will not cover the cost of repairs to your vehicle.
Collision will cover your vehicle for damage while it’s in motion, while comprehensive will cover it while it’s parked. That can include damage from storms, falling trees, vandalism or theft.
If you have a loan or a lease on your vehicle, the combination will be required by your lender.
Guaranteed Auto Protection (GAP)
If your car is ever stolen or totaled in an accident this add-on can help you cover the loss by paying off the lease or loan.
Car insurance policies typically pay only the value of the vehicle at the time it’s totaled.
If the amount of your loan or lease exceeds the vehicle value, you’ll be forced from out-of-pocket to cover the shortfall. But, if you have GAP coverage, the shortfall will be paid for you.
GAP coverage is not required, except by lenders on cars with loans greater than 80% of the vehicle’s value. But it is recommended if you believe you owe more on your car than it’s worth.
Tips to Get the Best Rates on Maine Car Insurance Policies
Below are the most popular strategies to get the best rates on car insurance in Maine:
Safe driving
Your driving history will play one of the biggest roles when it comes to your premium rate.
Avoid any violations or at-fault accidents.
A clean driving history for at least three years will provide you with the best rates available.
Look for the lowest rates between companies
The difference in price for the same policy can be thousands of dollars between carriers.
Shop and compare prices to find the right match.
Discounts
Insurance companies offer multiple options for you to earn discounts on your policy.
Find out which ones your carrier offers and take advantage of every one that applies to you.
Maintain credit clean
Like most states, your credit score will be a factor. Poor credit can easily double your premium.
Keep your credit clean for at least the last two or three years, and you’ll likely qualify for a lower premium.
Complete a safe driver course
If your driving record is poor, your insurance company may have the option to complete an approved safe driver course. It could lower your premium by 10% or more.
Increase your deductible
Deductibles apply to collision and comprehensive coverage, and it can be adjusted up or down.
Raising your deductible from $500 to $1,000 can significantly reduce your annual premium.
Bottom Line
Keeping enough coverage to protect your assets is a high priority when it comes to car insurance.
Regardless of your driving history, insurance companies in Maine provide plenty of affordable options to keep yourself protected throughout your time on the road.
