Who Has Cheap Car Insurance for Homeowners in Maine?

One of the more important considerations that help determine the price you pay for insurance is your address in Maine. Areas with increased crime or more people like Auburn, Winslow, and Orono will most likely have higher rates, whereas areas with fewer weather claims and lower vehicle theft rates benefit from lower rates.

The illustration below sorts the most expensive places in Maine for homeowners in which to purchase auto insurance.

Rates are estimated as specific Maine garaging address can raise or lower auto insurance rates substantially.

Establishing which company has the cheapest car insurance rates for homeowners calls for a little more sweat in order to find the best price.

Every insurance company has a proprietary method to establish rates, so to begin we’ll rank the car insurance companies with the overall cheapest rates in Maine. It’s a good idea to know that Maine car insurance rates are based on many factors that will increase or decrease the cost of having a policy. Getting older, filing a claim, or getting a driving violation can trigger rate changes resulting in some rates now being affordable when they were higher priced.

Best Car Insurance Prices for Homeowners

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USAA may offer some of the lowest car insurance rates in Maine at around $629 each year. Travelers, Vermont Mutual, Countryway Insurance, and The Hartford would also be considered some of the lowest-priced Maine auto insurance companies.

In the above rates, if you currently buy coverage from Countryway Insurance and switched to USAA, you might see savings of upwards of $70. Insureds with The Hartford may save as much as $91 a year, and Patriot customers might reduce prices by as much as $102 a year.

Remember that these policy rates are averages for all drivers and vehicles and are not factoring in a price decrease for homeowners. So the company that can offer you the lowest price may not even be included in the rate chart shown above. That is why you need to get quotes using your own personal information and vehicle type.

The information below shows how choosing a deductible can affect insurance costs when searching for cheap insurance for homeowners. The prices are based on a single female driver, comprehensive and collision coverage, and no policy discounts are applied.

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As shown above, a 40-year-old driver could lower rates by $162 a year by changing their physical damage coverage from a $100 deductible up to a $500 deductible, or save $246 by switching to a $1,000 deductible. Younger drivers, such as the 20-year-old chart data, could roll back prices up to $408 every year by choosing a larger deductible amount.

When using a larger deductible, it will be important to have additional savings on hand to allow you to pay the extra out-of-pocket expense. That is the one disadvantage of using higher deductibles.

State Farm, Allstate, Geico, and Progressive: Who is best?

When comparing auto insurance for people who own their homes in Maine, the companies with the most market share are State Farm, Allstate, Geico, and Progressive. Each one has somewhat different options that you can select from. The table below illustrates price and claims rank as well as some different options that policyholders can buy.