Maine High Risk Auto Insurance
There are about 90 insurance companies licensed to provide insurance coverage to drivers in the state of Maine. While they may charge higher rates for high risk car insurance, drivers should still have adequate choices to shop for the best rates for their individual circumstances. Companies likely to offer high risk insurance include Foremost, Geico, Nationwide, Progressive, and State Farm.
Extensive Liability Minimum Requirements
Maine has extensive minimum insurance requirements to register a vehicle in their state. These include Bodily Injury Liability of $50,000 per person and $100,000 per accident, Property Damage Liability of $25,000, Uninsured/Underinsured Motorist Bodily Injury $50,000/$100,000 and a medical payments coverage for you and/or anyone in your car in an accident with a minimum of $1000. Maine uses a tort system which means that one driver will be found at fault and held financially responsible for the medical, funeral, and property damage expenses of all other parties involved in the accident.
Vehicle Registration Required Proof of Insurance
Drivers must show proof of current insurance to register a vehicle in the state of Maine. Insurance companies are required to notify the state of any canceled insurance policies. When they receive this notification, they will send out a letter warning you of when your vehicle registration will be suspended if you do not provide proof that you have replaced that policy within a certain amount of time. There is a $35 reinstatement fee attached if the registration is actually suspended for lack of insurance. Being caught driving without proof of insurance carries a fine of $100 to $500 for a first offense. Understanding the laws of Maine can help you avoid paying for high risk auto insurance.