The state of Maine is one of the few that considers mandatory to own, not only auto liability coverage, but it also requires all of its drivers to posses Uninsured / Underinsured Motorist and Medical Payment coverage. Only exceptions are vehicles owned by the State, a municipality or school district which are exempt from the insurance requirements.

Minimum coverage required by the state is that of:

• $25,000 for Damage to property,
• $50,000 for injury or death of one person
• $100,000 for injury or death of more than one person per accident
• $2,000 for Medical payments
• $25,000 for Uninsured Motorist
• $50,000 for Underinsured Motorist

These minimum amounts must be furnished for each registered vehicle. It is not required to own aA separate proof of financial responsibility for mobile homes, camp trailers, semitrailers and trailers as long as it is registered to a person owning already motor vehicle liability coverage for another registered vehicle.

It is required also to carry proof of owning this auto insurance liability insurance policy. In most cases, your insurer will emit an insurance ID card, which you must present to any law enforcement officer that requires so. Other methods of financial responsibility proof can be:

• By filing with the Secretary of State a certificate from an insurance or surety company
• By the deposit of money or securities, or
• For a corporation, by satisfying the Secretary of State that the corporation has financial ability to comply with the requirements

A vehicle owner may provide proof of financial responsibility by providing to the Secretary of State a receipt emitted by the Treasurer of State in which it is demonstrated a money deposit or approved securities by the Treasurer for the amount or value that equals the required by the policy.

Permitted securities are those that may be legally purchased by savings banks or for trust funds. The depositor must also prove that there are no pending or unsatisfied judgments or trials against itself on any Superior Court in the state of Maine.

If you are unable to prove owning auto insurance liability coverage or don't have it at all, law establishes that you can have your license suspended as well as your vehicle registration, also fines will be applied.

Additionally to the previous mentioned coverage types, you may also purchase Collision and Comprehensive coverage. These are the most common coverage types to complement financial responsibility.

Collision coverage will help you pay for any physical reparations your vehicle may need after any type of collision. No matter if it was an accident with another moving vehicle or with a non moving object. Collision coverage will not pay for any medical bills.

Comprehensive coverage is used when your vehicle is damaged by events on which you have little or no control, for example extreme weather like floods, wildfires, tornados or high winds. Also comprehensive coverage will pay for physical damage caused by theft, vandalism and if you have an accident with wildlife on the road.