Who Has Cheap Auto Insurance Quotes for Drivers Under 21 in Maine?

The car, truck, or SUV needing coverage is one of the largest considerations when shopping for cheap car insurance for drivers under 21 in Maine. Vehicles with lots of speed or power, poor safety features, or an increased likelihood of liability claims will cost significantly more to insure than safer models.

The list below ranks insurance costs for a selection of the more afforable vehicles to insure in Maine.

Data based on single female driver age 20, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Maine minimum liability limits. Discounts applied include safe-driver, and claim-free. Premium amounts do not factor in Maine location which can change premium rates greatly.

Based upon the rates shown, vehicles like the Honda Accord, Ford Escape, Honda CR-V, Chevrolet Traverse, and Toyota Prius are likely to be the cheaper vehicles to insure for minors. Car insurance rates will be higher anyway just because there is more exposure for drivers under 21, but generally speaking those specific models will tend to have the cheapest car insurance rates compared to all other vehicles.

For Maine drivers, one of the criteria that car insurance companies use to calculate the price you pay for insurance is where you call home. More populated areas like Auburn, Ellsworth, and Skowhegan tend to have more expensive car insurance rates, whereas less populated areas have the benefit of cheap car insurance for drivers under 21 in Maine.

The following table displays the more expensive cities in Maine for drivers under 21 to buy auto insurance in.

Premium amounts are comparative as the specific garaging location can decrease or increase price quotes greatly.

The chart below highlights how deductible choice can raise or lower insurance premiums when researching cheap insurance for drivers under 21. The premium estimates are based on a married male driver, full coverage, and no discounts are applied to the premium.

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The chart above illustrates that a 40-year-old driver could lower their car insurance rates by $142 a year by increasing from a $100 deductible up to a $500 deductible, or save $214 by selecting a $1,000 deductible. Even younger insureds, like the 20-year-old example, have the ability to save as much as $472 annually just by choosing higher deductibles when buying full coverage. When choosing a higher deductible, it is important to have enough savings set aside to cover the extra out-of-pocket expense that is associated with using high deductibles.

Full coverage or liability only

Finding cheap car insurance for drivers under 21 in Maine is important to the majority of people, and one easy way to pay lower rates for insurance is to only buy liability coverage. The illustration below visualizes the comparison of insurance costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The premiums assume no accidents or driving violations, $500 deductibles, single marital status, and no other discounts are factored in.

google.charts.setOnLoadCallback(drawFclqcibChart);function drawFclqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘Full Coverage with $500 Deductibles’, ‘Liability Only’],[‘Age 20’, 2211,827],[‘Age 30’, 1149,457],[‘Age 40’, 1131,425],[‘Age 50’, 1033,399],[‘Age 60’, 1001,391],[‘Age 70’, 1235,521]]);var options = {title: ‘Rate Comparison of Full Coverage and Liability Only’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 500,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’},colors: [‘#6791b9′,’#98bee2’],hAxis: {title: ‘Annual Auto Insurance Cost for Average Vehicle in Maine’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);var chart = new google.visualization.BarChart(document.getElementById(‘qcibfcl’));chart.draw(data, options);}

As an average, full coverage costs $1,293 per year over and above liability only. That is a big expense that brings up the question if buying full coverage is worth the money. There is no specific rule to stop buying comprehensive and collision coverage on your policy, but there is a broad guideline. If the yearly cost of comp and collision coverage is more than about 10% of the vehicle’s replacement cost less your deductible, then you might want to think about dropping full coverage.

There are some circumstances where only buying liability is not in your best interest. If you still have a lienholder on your title, you have to maintain full coverage as part of the loan conditions. Also, if you don’t have enough money to buy a different vehicle in the event your current vehicle is totaled, you should not eliminate full coverage.

Ideas to find budget-friendly auto insurance for drivers under 21

Here are some penny-pinching solutions that can help Maine drivers quote more affordable coverage.

• Drive vehicles with five-star safety ratings
• Staying accident-free helps keep rates low
• Better credit scores save money
• Try paying for small claims out-of-pocket
• Avoid speeding and other traffic citations and pay less
• Compare rates regularly and switch companies to save money

That last tip is notably vital, as we pointed out in this article. Car insurance prices change frequently, so don’t be tentative to buy a different policy if a better deal can be had. Many drivers have brand loyalty and that’s fine, but it isn’t a good idea if that faithfulness ends up costing you a small fortune. It takes less than five minutes to shop around and find cheaper car insurance for drivers under 21.