Driving a vehicle in the state of Maine means you will need auto insurance. The state of Maryland requires all registered vehicles in the state carry minimum amounts of auto insurance to satisfy the state Financial Responsibility Act. Liability insurance with a minimum of 100/50/25 coverage must be maintained on the vehicle at all times.
50/100/25 coverage refers to the amounts the auto insurance company is willing to pay out in the event of an accident. The basic policy means the insurance company agrees to pay up to $50,000 in bodily injury fees for one injured person, with a maximum amount of $100,000 for bodily injury for all people involved in the accident. $25,000 is the most the insurance company will pay for property damage because of an accident.
Med-Pay is also a requirement in the state of Maine. Drivers are required to carry a minimum of $2,000 in Med-Pay along with the bodily injury and personal property coverage. Med-Pay will pay for medical and funeral costs of the policyholder, as well as costs for injury sustained if the policyholder of family members are hit my a motor vehicle as a pedestrian.
Uninsured/under-insured motorist coverage with a minimum of $50,000(maximum of $100,000)coverage. This type of coverage can protect you in the event of an accident with a motorist who is not insured or who does not have enough insurance to cover the cost of the accident.
Of course, additional insurance can be purchased to better protect you , as well as higher limits of coverage. You might want to consider this additional coverage if you own a new vehicle or car of value.
2010 national auto insurance rates for Maine residents was $1,155. The premium you will pay for auto insurance can be higher or lower than this amount, and is based upon several factors. Many auto insurance companies use a credit report to help determine your premium. A bad credit score means a higher rate for your auto insurance. In addition, the type of vehicle you are insuring, your age, driving record, and many other factors have an impact on your premium.
Comparing rates is the best way to ensure you receive the best service and prices. Sites such as www.dmv.org can provide you with several different auto insurance quotes after you enter a bit of information. The site also provides great information concerning Maine auto insurance requirements and policies. Getting quotes from atleast three different companies is recommended.