How to get the best car insurance in Maine
Finding an insurer that fits your needs is only one step when shopping for Maine car insurance. Before you move on to finding a company that is right for you, you may want to get more familiar with your own circumstances. That way, you’re finding a company that fits your needs and budget.
Consider minimum insurance requirements in Maine
Like most states, Maine requires drivers to carry at least minimum car insurance limits to drive legally. Don’t let the information intimidate you, though; you don’t need to memorize Maine’s minimum coverage limits. An insurance company won’t be able to sell you limits that don’t meet the state’s requirements, so there’s no risk that you’ll accidentally purchase too little coverage. Knowing your state’s minimum requirements can be a helpful benchmark though, because it can help you start to figure out how much car insurance you need for your own situation.
Although minimum coverage is all you need to drive legally, it may not be enough to protect you financially if you are involved in an accident. Depending on repair and medical costs, your out-of-pocket expenses after an accident could climb quickly and may negate any savings you saw by buying minimum coverage in the first place.
Consider lender requirements
If you have a loan or lease on your vehicle, your financial institution will likely have some car insurance requirements. Most lenders require comprehensive and collision coverage, which insures against accidental damage to your vehicle. Adding these coverage types means your policy is considered “full coverage.” If your vehicle is leased, you may also have to carry higher liability limits. You could also consider purchasing gap insurance, which is intended to pay for the difference between your loan amount and the vehicle’s actual cash value if your car is totaled or stolen.
Even if you aren’t making payments on your vehicle, having collision and comprehensive coverage could be useful. Although these coverage types add extra cost to your policy premium, they may help better protect your finances in the event of an accident. You may also want to consider other endorsements, like roadside assistance and rental car reimbursement.
Consider your individual needs
Every driver has a unique situation. If your family includes teen drivers, for example, you may want to look for a company with one or more teen driver discounts to help offset the cost of insuring an inexperienced motorist. If you’re a high-risk driver, your company options may be more limited and you may need to look for a company that specializes in non-standard coverage. There are a myriad of individual needs that you may want to consider when deciding what company and coverage is right for you, so taking the time to understand your circumstances could be well worth it.
