Maine Governor Paul R. LePage and Insurance coverage Superintendent Eric Cioppa not too long ago announced that the Bureau of Insurance now gives new online sources for buyers who want to compare auto and property owners insurance coverage policies.
Regulators stated downloadable copies of policy types and relevant paperwork utilised by the 10 biggest insurance coverage businesses are offered on the Bureau’s internet site under “Sample Insurance Policies.”
“The Bureau of Insurance, like a lot of other state agencies, is looking for to supply Maine families and companies with a lot more informational sources than ever ahead of,” Governor LePage stated. “By utilizing technology, the Bureau is able to make accessing individuals sources simpler than ever.”
Superintendent Cioppa emphasized the importance of evaluating policies and asking concerns ahead of making a variety. “The potential to accessibility these materials on the web will give consumers an opportunity to evaluation and examine policies just before they get,” Cioppa stated. He noted that the Bureau presently offers numerous informational brochures on its website to manual shoppers and company owners in comprehending and purchasing all varieties of insurance.
The companies listed on the internet site, which have been picked based on their 2012 market place share, represent 71 % of the auto insurance market and 65 percent of the homeowners industry. Cioppa indicated that the goal is to update the kinds annually.
The online types signify the companies’ regular types and the mandatory amendments that go with them, but do not incorporate optional forms that may be obtainable to increase or restrict the policy’s coverage.
Governor LePage and Superintendent Cioppa also highlighted Maine’s ranking between the states with the most cost-effective personalized car and property owners insurance. The National Association of Insurance coverage Commissioners (NAIC) just lately released 2 reports displaying Maine’s regular premium for the 2 personalized auto and house owners as the most cost-effective in New England and amongst the lowest in the nation.
“Maine is leader in affordable car and home owners insurance,” Governor LePage stated. “Maine families proceed to pay out significantly less for car and home owners insurance coverage, on typical, than people in any other New England state.”
Supply: Maine Bureau of Insurance coverage