Maine Auto Insurance Types, Liability Minimums, Average Premium Rates

Maine auto insurance premium rates have decreased in cost steadily over the past year. While the national average for auto insurance is $1,807 per year, the average cost for Maine auto insurance is $1,483. This makes Maine one of states with the lowest average cost for insurance. If you are a Maine resident, this is good news. As long as you follow the requirements of the State of Maine, you will be able to find an affordable insurance for your vehicle.

Though Maine does have a lower average cost of insurance, we have more requirements than many states. The required amounts for Bodily Injury Liability are $50,000 per person or $100,000 per accident. Property Damage Liability in the amount of $25,000 is also required. In Maine, you must also carry Uninsured/Underinsured Motorist Bodily Injury in the amount of $50,000 per person or $100,000 per accident. Medical Payments coverage in the amount of $1,000 must also be carried.

In Maine, the use of the tort system means that in an accident, someone must be found at fault. This is determined on the scene of an accident by the law enforcement officials. The at-fault person's insurance company covers the cost of all damages and the person who is not at fault has the right to sue for damages if need be. This is why having uninsured/underinsured coverage is required by law.

If you want to save money on your Maine auto insurance rates, there are some things you can do. Most importantly, make a wise car buying choice. You may not know this, but insurance rates are higher for certain makes, models, and colors of cars. For example, red cars have higher rates than blue cars, SUVs have higher insurance rates than minivans, and sports cars have higher insurance rates than sedans.

These price differences are due to statistics, replacement costs for specialty cars, and the likelihood of damage in the case of an accident. Statistically, red cars get the most speeding tickets, SUVs cause and experience the most damage during accidents and sports cars have most costly parts to replace. If you are considering one of these types of cars, make sure it is worth the increase in Maine auto insurance costs.

An in-depth study by an independent consumer marketing company reported the cheapest cars to repair, thus making them the cheapest cars to insure. The top vehicles making the list are the Nissan Frontier, Toyota Camry, Toyota Solara, Kia Sedona, Kia Serento, and the Saturn L300. Car choice is an important deciding factor when it comes to auto insurance costs.

Maine auto insurance rates are among the lowest in the nation. When shopping for you car insurance policy, be sure to meet the requirements of the law. When shopping for your vehicle, be sure to consider what features may raise or lower your car insurance rates. Take make, model, repair costs, and color into consideration before buying.

http://www.state.me.us/pfr/ins/ins_index.htm

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Going cheap is certainly not always the best decision when shopping for Maryland auto insurance.

Average annual premium rates for Maryland auto insurance policies cost over $500 more than those in other states.

Check additional valuable information of your State Insurance department organization.
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