Insurance rates for autos and homes in Maine rank among the lowest in the nation, the state’s Bureau of Insurance said.
“Thanks to a competitive market, Maine consumers are paying less for auto and home insurance than consumers in nearly every other state,” Bureau of Insurance Superintendent Eric A. Cioppa said in a statement.
Cioppa said Maine has ranked third nationally for lowest average auto insurance premiums for five consecutive years and 10th nationally for lower average homeowners premiums for three consecutive years.
“Maine has coverage requirements that exceed those in most other states, yet Maine continues to have consistently low average auto premiums,” Cioppa said in his statement.
Maine continues to have the lowest average homeowners premiums in New England. The state also has the lowest percentage of uninsured motorists followed by New York and Massachusetts.
Cioppa said the auto insurance and home insurance rankings are based on data compiled by the National Association of Insurance Commissioners.
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