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The Maine Department of Professional & Financial Regulation Bureau of Insurance published a Bulletin informing auto insurers of Maine’s new motor vehicle financial responsibility law requiring coverage for towing and storage charges. Coverage must be provided for up to $500 per accident when the policyholder is responsible for paying towing and storage charges for the insured vehicle. Coverage is triggered by an accident and when the insured vehicle is towed at the request of a law enforcement officer.

The law will be in effect July 1, 2024, and apply to all issued or renewed policies. Insurers with policies already in force before July 1 will not be required to add this coverage mid-term, but it must be included when the policy is renewed after July 1. 

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