How much does car insurance cost? Insurance companies will consider people who have had traffic accidents and have multiple violations in their name to be high-risk and will have higher expenses on car insurance. He is passionate about making insurance topics easy for people to understand and helping them make better financial decisions. While generally less expensive than a full coverage plan, liability insurance does not protect against an accident or theft of the insured vehicle. It's important for Maine drivers to know the minimum car insurance requirements to meet legal requirements.
All insurance products are governed by the terms of the applicable insurance policy, and all related decisions (such as coverage approval, premiums, fees and charges) and policy obligations are the sole responsibility of the insurance insurer. Different areas represent more or less risk depending on factors such as crime rate, traffic, car thefts and population density. Research data from MoneyGeek shows that Maine has the cheapest average car insurance rates of all states because it has a low traffic density, a low rate of uninsured motorists, low vehicle thefts, and a low urban population as a percentage of its total population. Maine also has one of the lowest rates of uninsured drivers in the country, accounting for only 4.9% of drivers and is in the bottom 10 in terms of highway traffic density and motor vehicle theft.
Carol Pope is an insurance writer for Bankrate and, before joining the team, she worked as an auto insurance agent for 12 years. Every driver has different needs and wants, so there's no single car insurance company in Maine that's best for everyone. For affordable full coverage insurance plans and minimum coverage plans in Maine, GEICO is the most affordable option, on average. Your insurance premium will also be higher if you live in a densely populated area with a higher risk of traffic accidents or natural disasters.
Cars that are considered more expensive to repair, such as luxury cars and electric vehicles, can make their rates higher than those that may cost less to repair. In Maine, your credit score plays an important role in determining your average annual auto insurance costs. Fortunately for drivers in the state of Pine Tree, Maine, car insurance rates are much lower than the national average, a staggering 53 percent.
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