Best car insurance in Maine for 2024

Our 2024 Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories. 

Each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. Our scoring model provides a comprehensive view, indicating when companies excel across several key areas and highlighting where they fall short.

• Tier 1 (Cost & ratings): To determine how well auto and home insurance companies satisfy these priorities, average quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best, Demotech and the NAIC, were analyzed.
• Tier 2 (Coverage & savings): We assessed companies’ coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated each company’s discount options listed on its website.
• Tier 3 (Support): To encompass the many ways an auto and home insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from S&P and Moody’s and factored a company’s corporate sustainability efforts.

Tier scores are unweighted to show the company's true score in each category out of a possible five points.

Like most states, Maine requires drivers to carry a minimum amount of car insurance to drive legally. Don’t let the information intimidate you, though; you don’t need to memorize Maine’s minimum coverage limits. Insurers cannot sell you a policy that doesn’t meet the state’s requirements, so there’s no risk that you’ll accidentally purchase too little coverage. Knowing your state’s minimum requirements can be a helpful benchmark though, because it can help you start to figure out how much car insurance you need for your own situation.

Although minimum coverage is all you need to drive legally, it may not be enough to protect you financially if you are involved in an accident. Depending on repair and medical costs, your out-of-pocket expenses after an accident could climb quickly and may negate any savings you saw by buying minimum coverage in the first place.

If you have a loan or lease on your vehicle, your financial institution will likely have additional car insurance requirements. Most lenders require comprehensive and collision coverage (colloquially called full coverage), which insures against accidental damage to your vehicle. If your vehicle is leased, you may also have to carry higher liability limits. Further, you may want to consider gap insurance, which helps pay the difference between your outstanding loan amount and the vehicle’s actual cash value if your car is totaled or stolen.

Even if you aren’t making payments on your vehicle, having collision and comprehensive coverage could be useful. Although these coverage types add extra cost to your policy premium, they may help better protect your finances in the event of an accident.

Every driver has a unique situation. If your family includes teen drivers, for example, you may want to look for a company with one or more teen driver discounts to help offset the cost of insuring an inexperienced motorist. If you’re a high-risk driver, your company options may be more limited and you may need to look for a company that specializes in non-standard coverage. There are a myriad of individual needs that you may want to consider when deciding what company and coverage is right for you, so taking the time to understand your circumstances could be well worth it.

USAA, Geico and Vermont Mutual offer cheap car insurance in Maine on average, based on Bankrate’s assessment. However, keep in mind that individual rates vary based on factors like your age, gender, driving record and the type of car that you drive. When looking for the cheapest car insurance companies in Maine, request quotes from multiple companies to see your actual quoted premium and find the best deal for the coverage you need.

In Maine, drivers must carry a minimum level of coverage for bodily injury and property damage liability, uninsured and underinsured motorist coverage and medical payments coverage as mandated by state law. The minimum required coverage includes $50,000 per person or $100,000 per accident for bodily injury and $25,000 for property damage. While the legal requirements offer a baseline level of protection, insurance experts recommend that drivers consider purchasing additional coverage to better protect their finances.

Insurance experts generally recommend that drivers purchase comprehensive and collision — called full coverage — to better protect their finances. Without full coverage, if you cause an accident, the minimum liability insurance required by your state only covers damage others incur. You would be left to repair or replace your own vehicle out of pocket.

If you have an auto loan, full coverage will likely be required by your lender. However, if you have an older vehicle that has depreciated and you own it outright, it may be safe to skip collision and comprehensive insurance. Just keep in mind that you’re accepting the financial risk if the vehicle gets damaged.