Best Cheap Auto Insurance for Uber Drivers in Maine

Wouldn’t life be great if we could wave our magic wand and tell you the best company in Maine that has the cheapest car insurance rates for Uber drivers? It’s not that easy, however, as there are many unknown factors like the level of deductible you choose, if you have ever had a gap in coverage, and the number of miles you drive in a year. The information below covers the best ways to avoid overpriced car insurance and educate you enough to have a jump start in finding the best auto insurance in Maine.

Determining which company has the cheapest insurance rates for Uber drivers takes more time in order to find the best price.

Every insurance provider has a different process for setting prices, so let’s look at the rankings for the insurance companies with the most affordable rates in Maine.

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Travelers normally has some of the best car insurance rates in Maine at around $630 per year. USAA, Vermont Mutual, Countryway Insurance, and The Hartford are also some of the most economical Maine car insurance companies.

As illustrated above, if you buy coverage from Countryway Insurance and switched to Travelers, you may see yearly savings of upwards of $83. Drivers with The Hartford might save as much as $90 a year, and Patriot customers might cut rates by $108 a year.

To see how much you can save, click here to start your custom quote or quote rates from the companies below.

Be aware that those policy rates are averages across all insureds and vehicles and and are not figured with a rate decrease for Uber drivers. So the car insurance company that is best suited for you may not even be in the above list. That’s why you need to quote rates from many companies using your own individual information.

The model of vehicle you are seeking coverage for is one of the biggest factors when shopping around for the best cheap car insurance for Uber drivers in Maine. Vehicles with average performance, good crash test ratings, or a low likelihood of having liability claims will cost significantly less to insure than higher performance models.

The next tables ranks insurance costs for a number of the most cost-effective automobiles to insure in Maine.

Data rating is based on single male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Maine minimum liability limits. Discounts applied include safe-driver, multi-vehicle, multi-policy, claim-free, and homeowner. Price information does not factor in specific location which can alter coverage rates noticeably.

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

Table data assumes single male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Maine minimum liability limits. Discounts applied include multi-policy, homeowner, multi-vehicle, claim-free, and safe-driver. Premium amounts do not factor in specific zip code location which can affect prices greatly.

Difference between liability only and full coverage rates

Finding the best cheap car insurance for Uber drivers in Maine is the goal of most vehicle owners, and an effective way to lower the cost of insurance is to buy liability only. The chart below illustrates the comparison of auto insurance rates with full physical damage coverage compared to only buying the minimum liability limits required in Maine. The premium estimates are based on no accidents, no driving violations, $500 deductibles, single status, and no discounts are applied.

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If we average the cost for ages 20 through 70, full coverage costs an extra $971 per year more than insuring for liability only. That is a big expense that brings up the question if physical damage coverage is worth the money. There isn’t a written rule to exclude physical damage coverage, but there is a general school of thought. If the annual cost of coverage is about 10% or more of the settlement you would receive from your company, then you might consider buying liability only.

For example, let’s pretend your vehicle’s book value is $9,000 and you have $1,000 physical damage deductibles. If your vehicle is damaged in an accident, you would only receive $8,000 after paying your policy deductible. If you are paying more than $800 annually to have full coverage, then you may want to consider only buying liability coverage.

There are some conditions where buying only liability insurance is not a good plan. If you have an outstanding loan on your vehicle, you must maintain physical damage coverage in order to satisfy the requirements of the loan. Also, if you can’t afford to buy a different vehicle in case of an accident, you should maintain full coverage.

Is the best company Geico, Allstate, Progressive, or State Farm?

When shopping for auto insurance for Uber vehicles in Maine, four good companies to start with are Geico, Allstate, Progressive, and State Farm. If you combine them together, they insure 48.5% of the entire U.S. market share. The table below compares some of the ratings and options .

How to get the best cheap car insurance for Uber drivers in Maine

The list below shows some of the better money-saving suggestions that can help you find low-cost coverage.

• Frequent claims will increase rates
• Avoid at-fault accidents and claims
• Maintain a clean driving record
• Insure your home and auto with the same company
• Good credit can help you save money
• Raise your physical damage coverage deductibles
• Compare rate quotes often

The last tip is extraordinarily important, as was discussed in this piece. Prices fluctuate considerably, so don’t be tentative to switch companies if a cheaper price is available.

Staying with the same company for years is fine, but is isn’t recommended if it’s costing you money that could be going to better use. It only takes a couple minutes to compare rates and find cheaper car insurance for Uber drivers.

Best cheap insurance quotes for Uber vehicles

Thanks to technology, there are a lot of ways to comparison shop for insurance in Maine, but the three most common methods are through an independent insurance agent, a captive (or exclusive) agency such as Allstate or Auto-Owners, or from a direct company like Geico.

All three ways are similar, but it’s important to understand the differences in how they provide rate quotes.

Independent insurance agencies have contracts with multiple insurance companies and can provide price quotes from each one. Agents of this type will get prices from more than one company, which may give you improved odds of finding cheaper coverage. If your premiums go up, the agent simply finds a different carrier and that require little work on your part.

An exlusive, or captive, agency is restricted to quoting rates for one insurance company, two of the more popular are a Farmers or Allstate agent. Exclusive agents normally do not have the ability to provide rates from more than one company, so it’s a good idea to get additional quotes.

If you want to buy insurance direct, you skip a local insurance agent and instead shop from a direct company like Geico. Buying insurance direct is good for families who do not need complex risk management and know what coverage limits and deductibles they need.

So which one of the three ways works best for finding the best cheap car insurance for Uber drivers in Maine? It would be simple to say buying from a direct car insurance company saves the most money since there isn’t an agent involved, but that generally is not the case. It could also be said using an independent agent guarantees the best prices because they can shop around, but again, that’s not a true statement. In some circumstances, exclusive agencies have extremely competitive rates that independents and direct companies can’t touch.

Since insurance prices are based on many different factors, the only real way to get rock-bottom rates is to compare lots of quotes. The ideal approach is to get rate quotes from all three to get an idea of which is cheapest. For a list of companies offering online discounts in Maine, click here to view.