Cheap Maine Low-Income Car Insurance for Families and Individuals

While Maine has no government car insurance program to assist individuals and families with limited resources, MoneyGeek discovered car insurance companies that offer affordable rates for low-income drivers. GEICO offers the overall cheapest, low-income car insurance in Maine for individuals and families.

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Last Updated: 11/25/2022
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Income doesn’t affect how much you pay for car insurance. Instead, Maine insurance companies look into factors, like the inclusion of a teen driver on a policy, age of a driver and credit score. MoneyGeek calculated the cheapest options for low-income individuals and families if you have a poor or good credit score.

Is There Car Insurance for Low-Income Families and Individuals in Maine?

There is no government car insurance program in Maine for low-income individuals and families to help with costs. Drivers with limited resources may be hesitant to get insurance because buying a policy is expensive; that could be one reason why about 4.9% of Maine drivers are uninsured.

The best way to get low-income car insurance in Maine is to purchase a traditional minimum coverage policy. Low-mileage drivers can also consider pay-per-mile insurance, which may be an inexpensive option for low-income drivers in Maine.

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Does Maine Have a Government Program to Support Low-Income Drivers with Insurance?

Unfortunately, Maine has no government program to assist low-income drivers with the cost of car insurance. But, you can shop around and compare quotes from several car insurance providers. To help you save time and money, MoneyGeek collected average rates from companies to find the cheapest car insurance for low-income individuals and families in Maine.

The Cheapest Maine Car Insurance Companies for Low-Income Drivers

Car insurance companies in Maine don’t use income to decide your premium. Instead, they consider other factors, such as your age and credit score, to determine how much they should charge you.

The cheapest option for car insurance is to get a minimum coverage policy. MoneyGeek discovered that GEICO offers the cheapest car insurance for low-income drivers in Maine.

We also analyzed the cheapest options for low-income families and individuals across different ages.

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The Cheapest Maine Car Insurance Companies for Low-Income Families

While your family’s income doesn’t impact your premium, your credit score is a big factor that determines your car insurance cost. MoneyGeek analyzed car insurance premiums for single parents and found that rates in Maine differed by around $833 per year if they had a poor credit score versus a good credit score. For a couple with a child, rates differed by around $1,065 per year if they had a poor credit score versus a good credit score.

The top two companies that average the cheapest rates for a couple with a child if they have poor credit in Maine are:

  • GEICO: $1,916 per year
  • MetLife: $1,935 per year

If you’re a military family couple with a child, you can consider USAA, which charges around $1,361 per year with a poor credit score.

The top two Maine companies that average the cheapest rates for single parents with poor credit scores are:

  • GEICO: $1,465 per year
  • MetLife: $1,517 per year

USAA offers the cheapest rate at around $1,106 annually but is only available to single parents with a military background.

Having a low income doesn’t necessarily mean that you have a poor credit score. You can toggle the table below to find the cheapest options for your profile.

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  • Company
    Annual Rates
  • USAA
    $629
  • GEICO
    $833
  • MetLife
    $863
  • Concord Group
    $1,065
  • State Farm
    $1,111
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The Cheapest Maine Car Insurance Companies for Low-Income Individuals

MoneyGeek found that auto insurance rates in Maine for a 40-year-old driver differ by roughly $265 per year if they have a poor credit score versus a good credit score.

On average, the companies that offer the cheapest rates for low-income adult drivers with poor credit scores are:

  • GEICO: $456 per year
  • MetLife: $481 per year

USAA offers the cheapest policy at around $338 per year, but it’s only available to military members and veterans.

If you are a low-income driver, it doesn’t mean that you have a poor credit score. Maintaining a good score can significantly reduce your insurance premium in Maine. Annually, GEICO charges around $260 for low-income individuals with good credit scores, MetLife costs around $273, and USAA roughly $192.

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  • Company
    Annual Rates
  • USAA
    $192
  • GEICO
    $260
  • MetLife
    $273
  • State Farm
    $348
  • Concord Group
    $377

The Cheapest Maine Car Insurance Companies for Low-Income Students

Young student drivers normally pay higher premiums because of their lack of driving experience. While college students are not charged based on their income, their car insurance premiums eat up a big part of their income, which does tend to be low.

On average, the two companies that offer the cheapest auto insurance rates for low-income students in Maine with poor credit scores are:

  • GEICO: $1,158 per year
  • MetLife: $1,219 per year

If you’re from an eligible military family, USAA charges around $858 per year for students with poor credit scores.

Having a low income doesn’t mean you have a poor credit score. Low-income students with good credit scores can get car insurance from GEICO for as low as $659 per year, MetLife charges around $694 per year, and USAA roughly $488 annually.

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  • Company
    Annual Rates
  • USAA
    $488
  • GEICO
    $659
  • MetLife
    $694
  • State Farm
    $882
  • Concord Group
    $957

The Cheapest Maine Car Insurance Companies for Low-Income Seniors

Seniors usually pay more for car insurance than middle-aged drivers, and credit score is a factor that affects their rates. For MoneyGeek’s sample 70-year-old driver, rates in Maine differ by around $274 per year if they have a poor credit score versus a good credit score.

On average, the cheapest auto insurance companies for low-income seniors with poor credit scores in Maine are:

  • GEICO: $415 per year
  • MetLife: $543 per year

USAA is even more affordable at roughly $338 per year for senior drivers, but the company only serves active military members and veterans.

Seniors with low income don’t necessarily have a poor credit score. For seniors with good credit, premiums can get as cheap as $236 per year from GEICO, $309 per year from MetLife, and $192 with USAA.

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Good Credit Score

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  • Company
    Annual Rates
  • USAA
    $192
  • GEICO
    $236
  • MetLife
    $309
  • State Farm
    $338
  • Concord Group
    $365

Does Income Affect Car Insurance Rates in Maine?

Income isn’t used as a factor when determining your car insurance rates in Maine. However, insurance companies consider factors that are often related to your income.

For example, low-income drivers may not be able to afford to pay out of pocket for expensive repairs, so they may make higher claims — insurance companies charge more for drivers with a history of claims.

MoneyGeek analyzed factors that might be related to low income and how they affect car insurance rates in Maine. The top three factors are:

  • Adding a teen driver.
  • Age of driver.
  • Credit score.

Insurance companies also consider other factors like coverage levels and your car’s model.

  • Factor
    How It Affects Your Rates
  • Adding a Teen Driver

    Adding a teen/young driver to your policy in Maine can increase your rate up to 3.4x.

  • Age of Driver

    Young drivers can pay 2.5x more than middle-aged drivers in Maine.

  • Credit Score

    With an excellent credit score, you pay around half the rate of someone with poor credit.

  • Car Model

    Insurance rates for specific car models can be twice as expensive.

  • Coverage Levels

    Higher coverage levels can make your premium 1.8x more expensive than minimum coverage.

Frequently Asked Questions About Low-Income Car Insurance in Maine

MoneyGeek provides answers to some of the most frequently asked questions about getting car insurance for low-income individuals and families in Maine.

Methodology

MoneyGeek calculated the cost of car insurance for low-income drivers in Maine using quotes sourced in partnership with Quadrant Information Services. The sample driver is either a 40-year-old male, a single 40-year-old parent with a 16-year-old child, an adult couple (each 40 years old), or a couple with a 16-year-old child. The individual or family drives a 2010 Toyota Camry LE. The driver buys the minimum car insurance required in Maine.

Costs for poor and good credit scores were extrapolated based on MoneyGeek’s dataset of credit score rate adjustments by score categorization.

About the Author


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Mark Fitzpatrick is a senior content manager with MoneyGeek specializing in insurance. Mark has years of experience analyzing the insurance market and creating original research and content. He graduated from Boston College with a Bachelor of Arts and Johns Hopkins University with a Master of Arts.