How Much is Car Insurance for Drivers with Bad Credit in Maine?

Wouldn’t it be nice if we could just tell you the one company that has the cheapest rates for drivers with bad credit? It’s just not that easy, however, as there are a whole bunch of unknown elements such as if you have ever let your policy lapse, if you are single or married, and your financial responsibility. We will attempt to cover the causes of high insurance rates and will give you a good start in finding the cheapest car insurance.

The make and model of vehicle to be insured is one of the largest considerations when trying to find cheap insurance for drivers with bad credit in Maine. Vehicles with lots of speed or power, poor passenger safety features, or a history of substantial liability claims will cost much more to insure than safer, lower-performance models.

The information below presents coverage prices for a handful of the most budget-friendly automobiles to buy insurance for.

Prices based on married male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Maine minimum liability limits. Discounts applied include homeowner, multi-vehicle, claim-free, safe-driver, and multi-policy. Estimates do not factor in specific location which can modify auto insurance rates greatly.

Based upon the rates shown, models like the Honda Accord, Toyota Prius, Ford Escape, Chevrolet Traverse, and Honda CR-V are most likely going to be some of the cheaper vehicles to insure for people with poor credit. The cost of a car insurance policy will tend to be higher just due to the fact that there is more liability exposure for drivers with bad credit, but in general those specific models will probably have the cheapest rates compared to other types of vehicles.

For people with poor credit, one of the big things that is looked at to determine the price you pay for insurance is your address in Maine. Cities with larger populations or higher claim trends like Skowhegan, Waterville, and Belfast likely pay more, whereas areas with less congestion profit from lower rates.

The illustration below illustrates the most expensive places in Maine for drivers with bad credit in which to buy car insurance.

Table data uses comparative as the specific area where the vehicle is garaged can increase or decrease insurance rates considerably.

Finding out which company offers the cheapest insurance rates for drivers with bad credit will require a bit more effort in order to find the lowest price.

Each insurer has a different formula to determine premium rates, so we’ll take a look at the insurance companies that tend to be cheaper in Maine.

Compare Cheap Insurance Quotes with Bad Credit

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Travelers quotes some of the best car insurance rates in Maine at around $624 per year. USAA, Countryway Insurance, Vermont Mutual, and Patriot also qualify as some of the most economical Maine insurance companies.

In the rate table above, if you are a customer of Patriot and switched to USAA, you could see an annual premium reduction of approxmiately $76. Policyholders with The Hartford may save as much as $109 a year, and MetLife customers might lower prices by $137 a year.

These prices are averages across all drivers and vehicles in Maine and do not take into consideration a price increase for drivers with bad credit. So the auto insurance company that can offer you the best rate may not even be in the list of companies above. That’s why you need to get quotes using your own specific driver information and vehicle.

Maine insurance companies

Ending up with a highly-rated insurer can be difficult considering how many choices you have in Maine. The ranking information listed below can help you decide which insurers you want to consider comparing price quotes from.

The rankings below include companies that write coverage in many states, so smaller companies that only insure vehicles in Maine are not included in this list. If you wish to compare rates from these and other competitive companies, click this link.

Allstate vs Geico vs State Farm vs Progressive

When comparing car insurance for people with poor credit, the companies with the most market share are Allstate, Geico, State Farm, and Progressive. All of them have unique coverages that shoppers can choose from. The data below breaks down price, claims, and customer service ratings, as well as some optional coverages .

Who has the cheapest insurance quotes for people with poor credit?

Consumers have many ways to shop around for insurance in Maine, but the most prevalent ways are from an independent agent, an exclusive insurance agent such as Allstate or State Farm, or direct either online or via phone. Each way has the same basic process, but they differ slightly in how they provide price quotes.

Independent insurance agents have contracts with multiple insurance companies and can compare coverage rates with each one. These agents are not required to write business for one company and can compare multiple rates, which can give you a better overall rate comparison. If you want to switch companies, the business is moved internally and you can remain with the same agent.

A captive or exclusive agent is able to place business with a single insurance company such as Liberty Mutual and Allstate agents. They usually cannot quote prices from more than a single company, so you will not be able to compare multiple prices.

Buying from a direct company means bypass local agents and instead buy direct either online or via phone. Buying insurance direct is good for consumers who do not need advice for risk management and have knowledge of what coverage options they need.

So which method is best to find cheap insurance for drivers with bad credit in Maine? Most people assume that buying direct results in the best prices because there are no middleman commissions, but that does not always hold true. A good argument could also be made that buying from an independent agent results in the cheapest rates since they have access to many companies, but that is not necessarily true either. In many cases, exclusive agents may have very competitive prices that are impossible to beat.

Due to the fact that insurance rates vary so much, really the best method to get rock-bottom rates is to get quotes and compare the rates. We recommend you get quotes from all three to get an idea of which is cheapest. For a list of insurance companies with low rates, click here to view.