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Best car insurance in Maine for 2022
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With thousands of miles of roads along the coastline, Maine is a haven for drivers who enjoy a great road trip. Luckily for Maine drivers, the average cost of car insurance is also some of the most affordable in the nation. The average rate for car insurance in Maine is $876 per year for full coverage, significantly lower than the national average of $1,771 per year.
But affordability isn’t the only factor in finding the best car insurance in Maine. In addition to meeting Maine’s minimum requirements for car insurance, it’s also important to consider how much car insurance you need based on your circumstances. Shopping for car insurance can be overwhelming, but Bankrate evaluated the top carrier options to help you make the best choice.
Best car insurance companies in Maine
To find the best car insurance companies in Maine, Bankrate’s insurance editorial team analyzed companies based on certain criteria. This analysis included AM Best financial strength ratings, customer satisfaction scores from J.D. Power, average rates from Quadrant Information Services, as well as a company’s policy options and discounts.
From there, we compiled a Bankrate Score based on the company’s performance in each category. The higher the company ranked, the higher its overall Bankrate Score, for a maximum score of 5. This can help provide a quick snapshot of a company and help you compare with other carriers.
|COMPANY||BANKRATE SCORE||AVERAGE ANNUAL FULL COVERAGE PREMIUM||J.D. POWER SCORE*|
*J.D. Power score is based on the 2021 U.S. Auto Insurance Study in New England.
**Due to membership eligibility restrictions, USAA is considered rank-ineligible by J.D. Power.
Allstate car insurance comes with many savings opportunities. Students can earn a good student discount based on their GPA, and homeowners may also earn a bundle discount if insuring their homes and vehicles with Allstate. Allstate’s Drivewise program also rewards drivers with more discounts or other rewards based on safe driving habits.
Learn more: Allstate Insurance review
Based on our research, Geico’s average car insurance rates are some of the most affordable in the industry, and Maine is no exception. Maine drivers can also tailor their policies based on their coverage needs, such as rideshare, mechanical breakdown insurance and rental reimbursement.
Learn more: Geico Insurance review
State Farm ranked high in J.D. Power’s 2021 Auto Insurance Study for the New England region, indicating that customers are generally satisfied with its service. State Farm’s network of local agents offers in-person service for customers who want a knowledgeable insurance professional by their side.
Learn more: State Farm Insurance review
USAA consistently earns high customer satisfaction scores compared to its competitors, although it cannot rank in the studies because of its eligibility restrictions. The carrier is only available to military members and qualified family members. If you qualify, USAA could be an excellent choice due to its low average premiums as well as dedicated military coverage.
Learn more: USAA Insurance review
Average car insurance cost in Maine
Maine drivers pay an average of $876 per year for full coverage car insurance and $227 per year for minimum coverage. These rates are significantly less than the national average cost of car insurance, which is $1,771 per year for full coverage and $545 per year for minimum coverage.
Car insurance rates are based on individual rating factors. These factors could include driving records, such as involvement in at-fault accidents and moving violations, as well as credit score, vehicle usage, location and more. Each car insurance company has its own method for calculating rates, so you will likely receive different quoted premiums, even if everything else is the same.
|AVERAGE ANNUAL PREMIUM FOR MINIMUM COVERAGE IN MAINE||AVERAGE ANNUAL PREMIUM FOR FULL COVERAGE IN MAINE|
How to get the best car insurance in Maine
Finding the best insurance carrier is just one part of the car insurance process. The next part is to consider what coverage limits and amounts are necessary based on state and any lender requirements, as well as how much you need to protect yourself and your finances.
Step 1: Maine’s minimum car insurance requirements
In Maine, all drivers are required to have at least a minimum amount of insurance. All drivers must have:
- $50,000/$100,000 in bodily injury liability
- $25,000 in property damage liability
- $50,000/$100,000 in uninsured and underinsured motorist bodily injury coverage
- $2,000 in medical payments coverage
Bodily injury and property damage liability helps cover costs incurred by the other party from an at-fault accident. If you hit another vehicle, passengers in the other vehicle would receive up to $50,000 per person toward medical expenses, but the total payout for the accident would cap at $100,000. Your policy’s property damage liability portion would pay for the other party’s vehicle or property repairs up to $25,000.
In Maine, drivers must also carry uninsured and underinsured motorist bodily injury (UMBI/UIMBI) coverage. This covers you and the passengers in your vehicle if you are involved in an accident, and the other party does not have insurance — or does not have enough coverage — to pay for injuries sustained. These coverage types do not cover damage to your vehicle, though.
Lastly, Maine drivers must carry $2,000 in medical payments coverage. This coverage allows passengers in your vehicle to receive up to $2,000 towards medical and hospital costs, regardless of who was at fault for the accident, should a covered claim occur.
Step 2: Understand lender requirements
If you have a loan or lien on your vehicle, your financial institution may have some car insurance requirements. Most lenders require comprehensive and collision coverage, which insures against accidental damage to your vehicle. 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 was totaled or stolen.
Step 3: Consider your individual car insurance coverage needs
Although you can purchase the minimum amount of car insurance, it may not be enough to protect you financially if you were to be involved in an accident. Depending on repair and medical bill costs, you may end up paying more out-of-pocket if you had minimum insurance coverage, negating any savings you might have expected.
Even if you aren’t making payments on your vehicle, having collision and comprehensive coverage could be useful to insure your vehicle. Although this adds extra cost to your policy premium, you could adjust the deductibles to an amount that you could pay out-of-pocket to see if it helps offset the increased expenses. Other common coverage options include roadside assistance and rental car reimbursement, but carriers may have unique coverage options not found elsewhere.
Step 4: Maximize savings with car insurance discounts
Maine may have some of the cheapest car insurance in the nation, but that doesn’t mean there aren’t even more savings opportunities. Taking advantage of discounts could help you obtain greater savings. Some common car insurance discounts in Maine include:
- Young driver discount: New drivers can face expensive car insurance rates because of their driving inexperience. But they also have specific discount opportunities, such as the good student discount, student away from home discount and driving training discounts.
- Safe driver discounts: Being a safe driver is one of the best ways to keep your car insurance rates low. You may qualify for good driver discounts and participate in usage-based telematics programs for additional savings.
- Other discounts: Some companies offer discounts based on payment methods, such as automatic or paperless billing. You can also receive discounts for features in your vehicle or bundling home and auto insurance with the same company. If switching carriers, ask if a discount is available for quoting in advance or maintaining continuous coverage.
Frequently asked questions
Bankrate utilizes Quadrant Information Services to analyze 2022 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on a 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:
- $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $50,000 property damage liability per accident
- $100,000 uninsured motorist bodily injury per person
- $300,000 uninsured motorist bodily injury per accident
- $500 collision deductible
- $500 comprehensive deductible
To determine minimum coverage limits, Bankrate used minimum coverage that meets each state’s requirements. Our sample drivers own a 2020 Toyota Camry, commute five days a week and drive 12,000 miles annually.
These are sample rates and should be used for comparative purposes only. Your quotes may be different.
Bankrate Scores primarily reflect a weighted rank of industry-standard ratings for financial strength and customer experience in addition to analysis of quoted annual premiums from Quadrant Information Services, spanning all 50 states and Washington, D.C. We know it is important for drivers to be confident their financial protection covers the likeliest risks, is priced competitively and is provided by a financially-sound company with a history of positive customer support.
To determine how well the best car insurance companies satisfy these priorities, third-party agency ratings from J.D. Power, AM Best, S&P, NAIC, and Moodys had the most impact on the companies’ Bankrate Scores. As price is a common consideration for drivers, we analyzed quoted premiums based on 40-year-old male and female drivers with a 2019 Toyota Camry. This profile, assessed across more than 35,000 ZIP codes in the U.S., provided a basis on which drivers may compare each provider.
While coverage options, insurer availability, affordability and customer experience are often the top priorities, Bankrate also analyzed each insurer’s online and mobile resources for policy management and claims handling. Insurance is rapidly evolving to keep pace with our digital world, so these aspects also carried weight in determining Bankrate Scores.