Maine Car Insurance
Maine is tied with Alaska for the highest minimum liability insurance coverage requirements in the country. By law, Maine drivers are required to carry minimum liability coverage of $50,000 for one person, $100,000 for all parties in an accident for bodily injury damages. The minimum coverage for property damage liability is $25,000. This amount of coverage may be more simply stated on an auto insurance policy as 50/100/25.
UIM Coverage
In Maine, drivers are also required by law to purchase Uninsured/Underinsured Motorist ("UIM") coverage and medical coverage with a $1,000.00. UIM coverage would cover in the event the driver at fault in an accident is uninsured or does not have enough insurance to pay for the damages sustained by the other driver(s) or passengers in an accident.
By law, Maine drivers are required to carry minimum UIM bodily injury limits of $50,000 for one person, $100,000 for the accident. For example, if a driver in Maine an accident had 50/100 UIM coverage, they would be able make a UIM claim with their auto insurance company and be eligible to receive up to $50,000 for their own bodily injury damages or up to $50,000 for all UIM bodily injury damage claims. The cost of purchasing optional higher coverage limits tends to be relatively low. Maine drivers are not required to purchase UIM property damage coverage but it is a good idea.
Collision and Comprehensive Coverage
Other important available insurance coverage types in Maine are Collision and Comprehensive coverage. These coverage types are not required by law but can be very important in the event of an accident. Also, many financial institutions require Maine vehicle owners to purchase collision and comprehensive coverage as a condition of their loans.
Collision pays for vehicle repairs or vehicle replacement value following a collision regardless of fault. Comprehensive coverage pays for all vehicle repair damage or replacement value for incidents other than a collision such as the tree falling on a car or the car being stolen. There are minimum deductible limits for these collision and comprehensive such as $500, but drivers can also raise their deductible amounts to lower their premiums.
Do Not Let Your Car Insurance Lapse
It is very important that Maine drivers do not allow their auto insurance policies to lapse. Each day, thousands of Maine drivers are involved in car accidents. Uninsured drivers in Maine pay fines and may be forced to comply with state financial responsibility laws, which require them to purchase expensive SR–22 Insurance. They can also be held personally responsible for all damages caused in an accident. Driving without car insurance in Maine is fiscally irresponsible and can lead to financial ruin.
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Drivers in Maine have more than a dozen auto insurance companies to choose from. National insurers such as Geico, Liberty Mutual, Nationwide, and the Travelers all sell auto insurance in Maine. Whether you live in Portland, Lewiston, Bangor, or Biddleford, use BestCarInsuranceCompanies.net to get low cost Maine auto insurance.
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