In the state of Maine, automobile insurance is both required and extensive. While already boasting some of the highest liability requirements in the country, vehicle owners are also required by law to carry protection from uninsured motorists as well as medical payment coverage. Even with these requirements in place, however, Maine auto insurance still ranks amongst the least expensive with an average expenditure of approximately $600 per year; this is nearly half as much as places like Washington DC and Louisiana. With such low average prices, Mainers have a unique opportunity to raise their coverage and still maintain an affordable policy.
Increasing one’s liability limits is easily one of the simplest and most affordable ways of improving one’s coverage. The state of Maine already requires bodily injury liability (BIL) of $50,000 for the injury or death of any one person, $100,000 for one accident that results in the injury or death of more than one person, and $25,000 for property damage liability (PDL); often abbreviated as 50/100/25. Although these numbers may seem high, it would still be fairly easy to exceed these minimums. For example, if a motorist struck and totaled an expensive car then the $25,000 of PDL could be exceeded, leaving the policy holder to pay any remaining expenses out of pocket. To ensure better protection, drivers are encouraged to consider raising their limits an amount that would remain affordable, yet offer increased amounts of protection. Typically 100/300/50 would offer many ME motorists a suitable balance between affordability and protection.
Having excellent coverage can be wonderful for a driver, but having that same excellent coverage at a discounted price is considerably better. Motorists are encouraged in Maine’s consumer’s guide to personal auto insurance to seek out discounts. It is required by ME law that a policy supplier provide discounts for liability, medical payments, and collision coverage to motorists who are 55 years of age or older and who have completed a “motor vehicle accident prevention course.” Additional savings can be obtained by speaking with an insurance provider to see what is available and what the driver can qualify for. Automobile owners who own more than one car may be able to get a multiple vehicle discount, or a young adult may be able to acquire a good student discount by retaining a 3.0 grade point average. The first step in saving through special offers is to ask what is available.
Further savings can be achieved depending on certain features a policyholder’s vehicle may have. Installing an anti-theft device is often an excellent way of bringing down the premium on comprehensive coverage because it reduces the chances of a vehicle being stolen. Having anti-lock breaks is another feature that can sometimes produce a discount with insurance providers because it generally reflects a higher safety level of a vehicle. Additional discounts may also be available for items such as having a good driving record and low annual mileage. With the already high liability requirements coupled with a low average expenditure rate and the possibilities of discounts, motorists in the Pine Tree State are encouraged to take advantage of their unique set of circumstances and pursue the best possible policy that they can afford and utilize the opportunities that are offered to them.
Source: http://www.onlineautoinsurance.com/maine/
