If you have any kind of insurance policy, whether house, car or health, you know that costs can vary depending on what kind of coverage you have, the amount of your deductible and various other factors that go into determining your rate. Snowmobile insurance coverage is the same.
Insurance companies in Maine will look at the type of vehicle (or vehicles) on your policy, the type of coverage you want and whether you’ve had any accidents previously among other factors. These will be used to determine the cost of your policy.
Snowmobile Insurance Rates Maine
If you purchase liability insurance only, it can be as low as $100 per month depending on the kind of vehicle you insure. Costs can rise to $400 in some cases.
- More expensive snowmobiles are likely to be the most expensive to insure. It will cost more to repair or to replace them. They are also more likely to be the targets of thieves, especially if they are new.
- The level of coverage will also be a factor in the expense of the policy. Insurance that covers more will of course cost you more. A comprehensive policy with coverage for accessories (like a trailer) will yield a higher rate.
- The “deductible” is the cost to you for a repair or replacement for your insured vehicle before the insurer starts to pay. If your deductible is low, the rate will be lower.
- The insurer will factor in the planned use of the snowmobile, where you will be using it and how often. If you’re only taking it out for the occasional joy ride, you may find a lower rate than if you are using it for business purposes.
- The insurer will also be interested in you and your driving record. Younger riders are a higher statistical risk, bringing higher rates. If you’ve had an accident before or have poor credit, you may also receive a higher rate quote.
Get a Quote on Snowmobile Insurance in Maine
Your best bet to answering these questions is to contact an honest, reputable insurance company in your area. Allen Insurance and Financial provides a variety of insurance products to Maine residents. Contact us for a quote.