The Pine Tree State is not only the birthplace of famous poet Henry Wadsworth Longfellow, but also home to roughly 1,013,533 licensed motorists with some of the nation’s most comprehensive basic auto insurance policies. Vehicle owners in Maine have some of the highest required liability limits that provide an extensive amount of coverage, while simultaneously ME boasts an average expenditure that is ranked by the NAIC as being amongst the cheapest available. A lot of different state related elements go into how much residents pay for coverage, including variables such as crime rate, accident frequency, and a variety of additional statistics. Having inexpensive policies that contain extensive coverage available to residents may also contributes to a decrease percentage of uninsured motorists, which in turn plays a small part in overall policy costs.
When coverage providers determine rates they take into consideration a number of details, specifically an individual’s driving record as well as their place of residence. In Maine the amount of vehicle related crime is lower than most states, with a rate of auto theft per thousand being roughly a quarter of the national average. According to the ME Department of Public Safety there is a vehicle stolen once every 8 hours, 36 minutes. Although this may seem like a large amount, in comparison to states such as California or Florida this is pleasantly low. In CA there were roughly 242,692 vehicle thefts in 2006, yet the Pine Tree State only has a ten year average of 1,329 cars. With a lower chance of theft, as well as a lower number of accidents and a small percentage of uninsured drivers, many residents are likely to find cheaper auto insurance quotes in Maine that offer greater levels of coverage.
Greater Auto Insurance Coverage in Maine
Residents of the Pine Tree State already have a unique combination of a low average expenditures, an uninsured motorist rate of only 4% – the second lowest in the nation according to the Insurance Research Council – and extensive coverage requirements that include bodily injury liability with limits of 50/100/25 (or a total combined limit of $125,000), uninsured motorist coverage with limits of 50/100, and medical payment coverage with a minimum limit of $2,000, but are still urged to obtain greater coverage. Motorists within the state are encouraged to take advantage of these below average prices and consider purchasing additional vehicle protection that encompasses a wider range of situations. Any motorist can be involved in an accident, and being adequately prepared may mean the difference between an unfortunate collision and a financially devastating accident.
One of the simplest and most cost effective way to improve one’s vehicle protection plan is to improve upon the lower limits required by the state, primarily medical payment coverage and property damage. With rising medical costs and the potential to cause extensive and expensive damage if at-fault for an accident involving multiple vehicles, drivers are urged to raise these limits to more reasonable levels, which can typically be done for only a few extra premium dollars. Additionally, residents might want to ponder the possibility of including additional insurance in order to cover damages to their own automobiles, such as comprehensive and collision coverage. Younger or inexperienced drivers may even want to study Maine Driving Dynamics to become better motorists and potentially receive lower rates.