In a new FAQ, the writers at OnlineAutoInsurance.com discuss how insurers in the Pine Tree State cannot raise a policyholder's rates for the sole reason that he or she is getting older. The FAQ also discusses some of the reasons that insurers may lawfully raise a policyholder's rates.
Online PR News – 26-August-2010 – – The writers at OnlineAutoInsurance.com discuss in a new FAQ the specific factors affecting individual car insurance premiums in Maine.
An interesting aspect of Maine auto insurance is that it is one state market in which coverage providers cannot raise an individual’s premiums solely because he or she is getting older. This is peculiar because age can tell an insurer a lot about the level of risk posed by a prospective policyholder. Generally, drivers at either end of the age spectrum are considered to be of higher risk than middle-aged drivers; after all, middle-aged drivers have much more experience than teenage drivers and may have sharper driving skills than older drivers.
The New York Department of Insurance, for example, advises N.Y. residents that “some insurers' statistics indicate that, beyond a certain age, driving skills deteriorate. This causes the claims experience of senior citizens as a group to worsen, causing various insurers to charge higher premiums for those higher-age categories.”
But, according to a bulletin posted by the Bureau of Insurance, an insurer in the Pine Tree State cannot either deny coverage solely because a potential customer is older than 65 or give higher premiums simply because of a driver’s increasing age.
Any Mainers who feel that they have been denied coverage or had their rates increased solely because of an increase in age should contact the bureau of insurance. Consumers should be aware, though, that there is a lengthy list of factors that can be used to calculate auto insurance premiums, and a given increase may have been a result of a factor besides age.
To learn more about the factors that can affect auto insurance premiums in the Pine Tree State and other states, go to http://www.onlineautoinsurance.com/maine/, where visitors will also be able to compare personalized premium estimates from a variety of carriers through the free use of the online quote generator.