Who Has the Cheapest Auto Insurance for 16 Year Olds in Maine?

When shopping for the cheapest insurance for new drivers, one of the many criteria that affect the amount you pay for auto insurance is your address in Maine. Areas with more people or even just a higher incidence of claims like Skowhegan, Ellsworth, and Belfast will most likely have higher rates, whereas areas with less congestion have the enjoyment of a little cheaper coverage.

The following table displays the highest-priced places in Maine for 16 year olds to purchase auto insurance in.

Rate quotes are estimated as specific Maine garaging address can influence rates substantially.

Deciphering which insurers offer the cheapest insurance rates for 16 year olds calls for more work than just comparing a company or two.

Each insurance company has their own unique process for setting rates, so let’s rank the lowest cost insurance companies in Maine. It’s a good idea to be aware that Maine insurance rates are calculated based on many things which can substantially change the cost of having a policy. Simply turning a year older, getting married, or getting a couple of tickets can produce rate changes that can cause some rates to be cheaper in comparison to the competition.

Best Insurance Companies for Teens

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Travelers has some of the most affordable car insurance rates in Maine at around $630 annually. USAA, Countryway Insurance, Vermont Mutual, and The Hartford also rank well as some of the cheaper Maine auto insurance companies.

In the above rates, if you have coverage with Vermont Mutual and switched to USAA, you may realize a yearly savings of in the neighborhood of $52. Insureds with The Hartford might save as much as $72 a year, and Patriot policyholders might realize rate reductions of up to $90 a year.

Be aware that those policy rates are averaged for all types of drivers and the different vehicles they drive and and are not figured with a rate surcharge for 16 year olds. So the auto insurance company that has the cheapest rates for you may not even be in the above list. That illustrates why you need to compare as many prices as possible using your own personal information and vehicle type.

Liability only or full coverage

Finding the cheapest car insurance for 16 year olds in Maine is the goal of the majority of drivers, and a good way to lower the cost of insurance is to not insure for full coverage. The information below illustrates the difference between car insurance rates with liability coverage only compared to full coverage. The premiums assume no claims or driving violations, $250 deductibles, single status, and no policy discounts are applied.

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If the expense is averaged for all age categories, comp and collision coverage costs $1,081 per year over and above liability only. That may make you wonder if it’s a good idea to buy full coverage. There is no definitive guideline to exclude comprehensive and collision coverage on your policy, but there is a guideline you can consider. If the annual cost of your full coverage insurance is about 10% or more of the replacement cost of your vehicle minus the policy deductible, then you may need to consider dropping full coverage.

Cautious Maine drivers save money

The easiest way to enjoy cheap insurance premiums in Maine for new drivers is to be a good driver and avoid accidents and keep your driving record clean. The diagram below demonstrates how traffic citations and accidents raise annual premium costs for different age groups of insureds. The information is based on a married male driver, comprehensive and collision coverage, $250 deductibles, and no discounts are applied.

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The data charted above shows the average cost of an auto insurance policy in Maine per year with no violations or accidents is $925. Get written up for one speeding ticket and the average cost rises to $1,061, an increase of $136 each year. Now include one accident along with the one speeding ticket and the 12-month cost of insurance for 16 year olds goes up to an average of $1,438. That’s an increase of $514, or $43 per month, just for not driving responsibly!

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

When comparing auto insurance for new drivers, probably the best companies to start with are Geico, State Farm, Allstate, and Progressive. They all have your normal coverages like liability, comprehensive, and collision, but each one offers somewhat different options that you can select from. The next table breaks down ratings and policy coverage options that are available.