Are you burned out from not being able to scrape enough together to keep your car insured? You’re in the same situation as most other people in Maine. Multiple insurance companies compete to insure your vehicles, so it can be very hard to choose a insurer to get the lowest price
The easiest way to compare rates is to know the trick auto insurance companies have advanced systems to give you rate quotes. All consumers are required to do is provide the companies a bit of rating information like marital status, daily mileage, how you use your vehicles, and if your license is active. That information is sent automatically to many of the top insurers and you will receive price estimates almost instantly.
To start a quote now, click here and enter the information requested.
Use discounts to get cheaper Madison auto insurance rates
Auto insurance can be pricey, but you may be missing some discounts that can drop the cost substantially. Some discounts apply automatically at the time of quoting, but some need to be requested specifically before they will apply. If you aren’t receiving every discount you deserve, you could be saving more on your auto insurance.
- Early Signing – Some larger companies provide a discount for buying a policy early. It can save you around 10%.
- Accident Forgiveness – Not necessarily a discount, but certain companies will let one accident slide before they charge you more for coverage so long as you are claim-free prior to the accident.
- Senior Discount – If you’re over the age of 55, you may qualify for a small decrease in premiums.
- Distant College Student Discount – Older children living away from home attending college and do not take a car to college may be able to be covered for less.
- Full Payment Discount – By paying your policy upfront instead of monthly or quarterly installments you can actually save on your bill.
- Theft Deterent Discount – Cars and trucks equipped with anti-theft or alarm systems are less likely to be stolen and can earn a small discount on your policy.
- Seat Belt Discounts – Requiring all passengers to buckle their seat belts can save a little off the PIP or medical payment premium.
- E-sign – Certain insurance companies will give a small break just for signing your application online.
- Federal Government Employee – Employees or retirees of the government may reduce rates when you depending on your company.
Discounts reduce rates, but you should keep in mind that most discounts do not apply to the overall cost of the policy. The majority will only reduce individual premiums such as physical damage coverage or medical payments. Just because it seems like adding up those discounts means a free policy, auto insurance companies aren’t that generous.
A few of the larger companies and their possible discounts are outlined below.
- State Farm discounts include multiple policy, driver’s education, Steer Clear safe driver discount, accident-free, anti-theft, passive restraint, and multiple autos.
- Progressive includes discounts for online quote discount, continuous coverage, homeowner, multi-vehicle, and multi-policy.
- Travelers offers premium reductions for payment discounts, driver training, hybrid/electric vehicle, new car, multi-policy, and IntelliDrive.
- American Family offers discounts including good student, mySafetyValet, TimeAway discount, Steer into Savings, air bags, and early bird.
- Liberty Mutual may include discounts for good student, newly married, new move discount, teen driver discount, newly retired, safety features, and preferred payment discount.
Double check with each company which discounts you qualify for. Some credits may not apply everywhere. To locate auto insurance companies who offer discounts in Madison, click this link.
Tailor your auto insurance coverage to you
When it comes to buying adequate coverage for your personal vehicles, there is no “perfect” insurance plan. Each situation is unique and your policy should reflect that. For example, these questions might point out whether your personal situation would benefit from professional advice.
- Is a new car covered when I drive it off the dealer lot?
- What happens if I owe more than my vehicle is worth?
- What can I do if my company denied a claim?
- Am I covered if I crash into my own garage door?
- How much liability coverage do I need in Maine?
- Do I need PIP coverage since I have good health insurance?
- At what point should I drop full coverage?
- Does my car insurance cover rental cars?
If you don’t know the answers to these questions but a few of them apply, then you may want to think about talking to an insurance agent. If you want to speak to an agent in your area, complete this form or go to this page to view a list of companies. It only takes a few minutes and may give you better protection.
Specific coverage details
Knowing the specifics of a auto insurance policy helps when choosing appropriate coverage and proper limits and deductibles. The terms used in a policy can be difficult to understand and even agents have difficulty translating policy wording. Below you’ll find typical coverage types available from auto insurance companies.
Auto liability insurance
This will cover damage that occurs to a person or their property by causing an accident. It protects you from claims by other people. It does not cover damage to your own property or vehicle.
Liability coverage has three limits: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see values of 100/300/100 which means a limit of $100,000 per injured person, a total of $300,000 of bodily injury coverage per accident, and a total limit of $100,000 for damage to vehicles and property.
Liability can pay for things such as emergency aid, bail bonds and attorney fees. How much coverage you buy is your choice, but it’s cheap coverage so purchase as much as you can afford. Maine state law requires minimum liability limits of 50,000/100,000/25,000 but drivers should carry better liability coverage.
Collision coverage protection
This pays to fix your vehicle from damage resulting from colliding with a stationary object or other vehicle. You first must pay a deductible then the remaining damage will be paid by your insurance company.
Collision insurance covers things such as hitting a mailbox, scraping a guard rail and hitting a parking meter. Paying for collision coverage can be pricey, so analyze the benefit of dropping coverage from vehicles that are older. Another option is to choose a higher deductible to save money on collision insurance.
Uninsured and underinsured coverage
This coverage protects you and your vehicle’s occupants from other motorists when they either have no liability insurance or not enough. Covered losses include injuries to you and your family and damage to your vehicle.
Due to the fact that many Maine drivers carry very low liability coverage limits (50/100/25), their limits can quickly be used up. For this reason, having high UM/UIM coverages should not be overlooked.
Comprehensive coverages
This pays to fix your vehicle from damage OTHER than collision with another vehicle or object. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.
Comprehensive coverage pays for claims such as rock chips in glass, hitting a bird and vandalism. The maximum payout you’ll receive from a claim is the cash value of the vehicle, so if it’s not worth much more than your deductible consider removing comprehensive coverage.
Coverage for medical payments
Coverage for medical payments and/or PIP provide coverage for expenses like funeral costs, rehabilitation expenses, prosthetic devices and X-ray expenses. The coverages can be used to cover expenses not covered by your health insurance policy or if you lack health insurance entirely. Medical payments and PIP cover all vehicle occupants and also covers getting struck while a pedestrian. PIP is not universally available and may carry a deductible
More resources for learning
Even more information can be found at the Maine Bureau of Insurance website. Maine drivers can learn about specific coverages, file complaints about an insurance agent or broker, view a list of available companies, and discover disciplinary actions.
The following articles may also be useful.