Cheapest Car Insurance for a Company Car in Maine

Determining which companies quote the best auto insurance rates for a company car takes a little more sweat in order to find the lowest price. Each auto insurer has their own guidelines for determining rates, so let’s take a look at the most affordable auto insurance companies in Maine.

It’s important to understand that Maine auto insurance rates are based on many factors that will increase or decrease the price of coverage. Getting older, becoming a homeowner, or getting caught speeding may prompt premium changes that can cause some rates to be cheaper than competitors.

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USAA quotes some of the most affordable car insurance rates in Maine at around $629 each year. Travelers, Vermont Mutual, Countryway Insurance, and Patriot also are some of the lowest-priced Maine car insurance companies.

In the above rates, if you are a policyholder with Countryway Insurance and switched to Travelers, you could earn yearly savings of around $69. Customers with Patriot could save as much as $87 a year, and The Hartford policyholders might see rate reductions of $112 a year.

Bear in mind that those estimates are averaged across all drivers and vehicles in Maine and are not factoring in a price decrease for a company car. So the insurer that has the lowest price for you may not even be shown in the above rate chart. That helps illustrate why you need to get auto insurance quotes using your own individual information.

We all have different tastes in cars, and the vehicle you are buying coverage for is probably the biggest factor when comparing low-cost car insurance for a company car. Vehicles with lower acceleration and performance, advanced safety features, or a track record of few liability claims will cost less to insure than adrenaline junky models. The information below showcases car insurance prices for a number of the most affordable automobiles to insure in Maine.

Premium data assumes married male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Maine minimum liability limits. Discounts applied include safe-driver, homeowner, claim-free, multi-policy, and multi-vehicle. Premium costs do not factor in specific Maine garaging location which can alter coverage prices significantly.

Data based on married male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Maine minimum liability limits. Discounts applied include safe-driver, claim-free, homeowner, multi-policy, and multi-vehicle. Estimates do not factor in your specific Maine location which can raise or lower coverage rates significantly.

Price data assumes married male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Maine minimum liability limits. Discounts applied include multi-vehicle, multi-policy, claim-free, safe-driver, and homeowner. Price information does not factor in garaging location in Maine which can alter premium rates noticeably.

Safe drivers pay less for auto insurance

The common sense way to find affordable auto insurance prices for your employer’s vehicle is to be a good driver and avoid accidents and keep your driving record clean. The chart below shows how traffic citations and at-fault claims drive up auto insurance rates for different age groups. The premiums are based on a married female driver, comprehensive and collision coverage, $500 deductibles, and no policy discounts are applied.

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In the prior example, the average cost of a car insurance policy in Maine per year with no accidents or violations is $751. Get two speeding tickets and the average cost surges to $1,058, an increase of $307 each year. Then throw in two accidents along with the two speeding tickets and the annual cost of auto insurance for a company car jumps again to an average of $2,261. That’s an increase of $1,510, or $126 per month, just for not driving carefully!

Ideas to find low-cost auto insurance for a company car

It is possible to find better rates, and here are some of the better penny-pinching ideas that can help Maine drivers locate lower-cost auto insurance.

• Buy safe vehicles
• Do not get traffic tickets
• Good credit can mean cheaper rates
• Increase your physical damage deductibles
• Remain accident-free and save
• Check for cheaper rates once a year

That last tip is remarkably significant, as we hit on in this write-up. Car insurance rates in Maine vary considerably, so drivers shouldn’t be resistant to change to a new company if you find a better deal. We understand brand loyalty, but it’s not a good idea if that stubbornness costs you thousands of dollars over the life of your policy. It only take a few minutes to compare prices and find cheaper insurance for a company car.