The Best Cheap Car Insurance in Maine

Image via Pixabay by jarmoluk

Maine has one of the cheapest insurance costs on average in America. However, finding cheap car insurance in Maine can be a research-driven process that requires time and effort. To ease this process, here’s a guide that evaluates the top firms offering car insurance products, price points, and benefits to help you find the cheapest car insurance in Maine. Want to drive safely in the Pine Tree State without hurting your wallet? Read on.

Average Cost for Car Insurance in Maine

When you want to buy auto insurance, it is best to shop around and find the best quote that suits your coverage needs and budget. Maine’s average cost of comprehensive coverage is $965 annually, compared to the national average of $1,321. But the average price means your car insurance could cost hundreds of dollars more or less. Other factors come into play, such as driving habits, age, the value of the car, DUI citations, and other individual factors that could drive up your premiums.

Cheapest Car Insurance in Maine

USAA offers the cheapest rates at $746 for full coverage and $313 for minimum coverage. A slight caveat, USAA is military-only auto insurance, which means that you can’t get a USAA policy unless you’re active duty or a veteran or family of a service person. Below is the tabulated cost for the average you’ll pay in premiums annually for minimum and full coverage.

Minimum Requirements for Car Insurance in Maine

If you’ve found the cheapest auto insurance in Maine, does it always meet the minimum requirements? The Pine Tree State minimum car insurance is relatively easy to remember — 50/100/25. Here’s a guide to what this means:

• $50,000 for bodily injury liability per person
• $100,000 for bodily injury liability per accident
• $25,000 for property damage per accident

State Farm offers the cheapest minimum cover policy at $361, which meets the state’s bare minimum requirements. In unique circumstances, such as driving without insurance or having tickets for DUIs or other citations, the state may mandate an SR-22, which means your bare minimum will be more expensive.

Minimum coverage meets the requirements but doesn’t always insure you against vandalism, collision with uninsured drivers or motorists. Therefore, consider opting for comprehensive coverage to ensure you meet the minimum requirements and still protect yourself and the car. Before you refer to the table above for the cheapest full coverage insurance in Maine, let’s break down how other factors determine the rates you pay.

Cheap Car Insurance in Maine for a Teen Driver

Generally, it costs more to insure a teen than an adult. Teens pay about three times the average cost of full coverage in America. Further, it costs more to insure a young male driver than a female driver. Below are average annual rates for 17-year-old drivers in Maine:

Concord General Mutual offers the cheapest auto insurance for young drivers. Other companies such as State Farm and GEICO have slightly higher premiums, but they offer driver-oriented discounts that attract many teens. State Farm, in particular, has a 25% discount if you keep your GPA higher than 3.0 or drive only to see your parents.

Cheap Car Insurance for Young Adults

Adults in the 20- to 25-year-old range enjoy custom insurance benefits and lower rates in Maine compared to other states. Below are some of the reputable brands and their cost for full coverage:

1. GEICO: $1,165 per year, or about $97 per month.
2. Concord Group: $1,213 per year, or $101 per month.
3. Countryway: $1,507 per year, or about $126 per month.
4. State Farm: $1,870 per year, or $156 per month.
5. MetLife: $2,482 per year, or about $207 per month

Full coverage usually entails comprehensive and collision insurance rolled into one. Full coverage caters to almost all accidents that may occur except vandalism or car totaling for a leased car.

Cheap Car Insurance in Maine for Good Drivers

If you are an experienced and diligent driver, you will love the rates in Maine. Good drivers with a clean driving history enjoy the cheapest premiums. According to Forbes Advisor analysis, a good driver pays an average of $1,000 annually in car insurance. GEICO offers the most affordable car premiums for good drivers in Maine. The average rate is $590 annually for GEICO customers. Concord comes in second with $658, and the next is Travelers with $841.

Cheap Car Insurance in Maine for Other Groups

• Cheapest car insurance for teen drivers after a speeding ticket  — Concord ($1,062)
• Cheapest car insurance for drivers with poor credit — GEICO ($1,123)
• Cheapest car insurance for drivers with DUI citations — Concord ($1,377)
• Cheapest car insurance for at-fault drivers — State Farm ($1,646)

Best Insurance Brands in Maine

Cheap prices by comparison to other states can still result in expensive payments when it comes to insurance. You need to consider other factors besides the affordable price points when purchasing car insurance. In Maine, reputable car insurance brands are GEICO, Allstate, Progressive, State Farm, Concord, MetLife, and Farmers.

From Yelp reviews and deeper research, the above insurers seem to be the go-to options for car insurance in Maine. These firms have higher payouts and fast settlements and offer customer-oriented solutions that can save you money in the long run.

If you’re in the Pine Tree State, you can expect car insurance to cost you less than the national average. The premiums vary by location, driving habits, age, citations, credit, and more factors. To take the uncertainty out of what you’re paying, contact your insurer for a free quote that factors in the correct insurance pricing model. Plus, ensure you get a full breakdown to avoid paying any hidden fees.

FIXD Research Team

At FIXD, our mission is to make car ownership as simple, easy, and affordable as possible. Our research team utilizes the latest automotive data and insights to create tools and resources that help drivers get peace of mind and save money over the life of their car.