February 16, 2011
By: Jana Bell
Days after Wisconsin Republicans voted to lower the minimum amounts of auto insurance coverage residents must have on their insurance policies, the Maine legislature may raise them.
According to Maine Today, a state representative has submitted a bill to the House that would raise the minimums for liability insurance to $50,000 for property damage and to $100,000 for the death or injury of a person. Currently, the minimums are $25,000 and $50,000.
According to the paper, the proposal was in large part made on behalf of a family in Benton, Maine. Three years ago, the father of the family was in a serious car accident. The person at fault in the accident had insurance, but the minimum level of coverage on the policy was not enough to pay off the medical bills, causing the family to incur significant debt.
If measure is passed and signed into law, the state's superintendent of insurance tells the paper it would raise premiums by about $75.
As it is, Maine motorists pay some of the lowest auto insurance rates in the country. According to the Insurance Information Institute, Maine residents pay an average of $600 per year in premiums, the ninth lowest rate.
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