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Maine Car Insurance

Price comparison through a Maine car insurance quote can be a smart move for motorists, especially those in Maine (ME), when looking for auto insurance. Because Maine car insurance is mandated by the government, the multiple quotes you receive with a Maine car insurance quote will allow you to select the policy and the company which will save you the most money. This is a quick, free way to help control your expenses.

Maine, like all the other fifty states, requires that a certain level of minimum coverage be carried by its drivers. In ME, a driver is required to carry minimum Bodily Injury Liability limits of $50,000 per injured person up to a total of $100,000 per accident and Property Damage Liability coverage with a minimum limit of $25,000. This is referred to as the 50/100/25 minimum. It is interesting to note that while Maine's cost of car insurance remains affordable, the minimum on the required monetary amounts of liability are some of the highest in the nation. The state of ME is one of a handful of states who follow a Tort system. In a Tort system car insurance, a culprit must be named in any auto accident. The culprit and their car insurance company is then held responsible for all medical bills and property damages for both parties.

While some states offer cheaper alternatives to buying coverage through a private provider, Maine does not. The Coalition Against Insurance Fraud recently published a report naming Maine as the number one state in the country for car insurance fraud perpetration. There are roughly 158 incidences of fraud for every 100,000 residents of Maine. The rate is almost six times that of Maine's neighbor - New Hampshire. The coalition and lawmakers are working in conjunction with one another to create a Bureau of Automobile Insurance Fraud. Recent efforts of the coalition in the combat against fraud resulted in the elimination of a fraud ring in a town in the state. The result of the raid saved taxpayers a projected fifteen million dollars, and it reduced the local Maine car insurance rates by 24%.

Getting a Maine Car Insurance Quote From Multiple Companies

Since you are compelled to find traditional coverage, receiving a Maine car insurance quote is the first step to save you money. The highly competitive field of Maine car insurance has resulted in many companies offering the same products; therefore, there are many companies who are competing for your business. National insurance chains are omnipresent. However, a little research might reveal statewide or more local car insurance offices in Maine that can cater to a niche market. In other words, the auto insurance provider may be better able to custom tailor a policy toward your auto. This is especially helpful if you drive a high end luxury car or a motorcycle, for example. The number of Maine car insurance companies competing for business in one market can be overwhelming.

With the advent of a highly competitive market, there are fringe benefits for consumers. Maine auto insurance companies are going out of their way to provide you with quick, free estimates and a Maine car insurance quote to entice you to do business with them. Most of the online car insurance quotes will ask you to fill out a few general questions about yourself. Examples of these questions can include inquiries about your vital information, what type of car you would like insured, and the location where you reside (i.e. your zip code). Once you choose an appealing looking company to further investigate, there will be a bevy of more detailed questions. These additional questions may be about topics like your driving history, credit rating, or how often you use your car.

How Maine Auto Insurance Companies Assign Risk

Over the course of its evolution, the Maine auto insurance industry has developed a complex system for assigning a risk value to each of its potential clients. Each of your personal characteristics, such as the car you drive, are assigned a value. The total sum of your values is then compared to claim rate averages of other people who share your characteristics. The comparison is to determine how likely you are, on average, to make a claim. The information you submit online when receiving your Maine car insurance quote is the beginning of this process. The higher your risk assessment is, the higher your insurance premiums will be. Because coverage is government mandated, many consumers feel it is unfair for a Maine car insurance provider to charge, unchecked, the rates they would like.

The information about your locale that your zip code provides plays a large role in your risk assessment. Many factors about your location, such as crime rates, are beyond the control of the consumer. If your zip code is found in the inner city of a larger metropolis, like Portland, Maine, the coverage carrier will assume that you are more likely at risk to be victimized in a crime, and this will increase your monthly premiums. However, if you live in a smaller city like Augusta, your rates will likely be lower as the crime rate is not as high. Information about your financial status is also derived from your zip code. If you are found to be living in a wealthier area, such as Cape Elizabeth, Maine or Old Orchard Beach, Maine, the coverage carrier will assume you will be able to pay higher premiums for your auto insurance.

How Your Auto Affects Your Maine Car Insurance Quote

The information about your auto that you provide when receiving your auto insurance quote is also very important. A car's details can divulge information about driving habits and the risk that will be involved in insuring you. Maine car insurance companies maintain a nationwide database that records the statistics of cars involved in accidents. The statistics include information about the make, model, and even the color of your car. For example, the color red is considered to be the most expensive color of car to insure. There seem to be a disproportionate amount of wrecks involving red cars. Often when assigning a risk value to a car, small details, like a decal on your rear windshield, will be taken into account. That decal might serve as a distraction to you or other drivers on the road and therefore, will increase your premiums accordingly. Higher end auto, such as luxury or sports cars, are also often assigned a higher risk value because of the amount of money it requires to repair them in the event of an accident. Mid-priced sedans are considered to be the car that costs the least to insure.

Obtaining a Maine car insurance quote online is free and quick. It is beneficial because it can be performed almost anywhere there is an Internet connection, such as your home or your work office. The main goal is to find the policy you need at the most affordable price. Online price comparison techniques can certainly help you achieve this objective by helping you to find the right Maine car insurance company. The general car insurance quote will allow you to determine which automobile insurance companies in Maine are worth further investigation. With the hundreds of dollars you could potentially save every year, the investment of time and research is well worth the effort.

So what are you waiting for? Compare cost and coverage details from the Maine cities of: Portland, Augusta, Waterville, Bangor, Lewiston, Auburn, Rockland and more.


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