While there is little statistical data available for Massachusetts annual auto premiums, it is known that Massachusetts is one of the highest priced states in the United States as far as auto insurance is concerned. An estimate of $2,000 compared to the national average of $1,440 is realistic for 2011; this is based on the state’s ranking of 4th highest in the nation using estimated 2008 data.
Annual Changes
Premiums in Massachusetts are believed to have risen slightly in 2011. As the state of Massachusetts does not in any way fix or otherwise determine insurance rates, auto insurers set their own rates using their own formulas. As data for Massachusetts auto insurance prices in the past has been hard to obtain, using this site to request multiple quotes and to keep abreast of news related to auto insurance in Massachusetts is the best way for drivers to obtain the lowest rates for coverage in the state.
Seasonal Changes
No data is available for seasonal price changes in Massachusetts. However, because of changing mandatory limits and other factors, rates may be subject to rapid change. Therefore, drivers in Massachusetts are advised to keep themselves aware of any factors that could cause rates to change as well as to shop around by requesting multiple quotes.
Insurance Requirements
Massachusetts is a no-fault state where insurance regulations require property damage insurance and personal injury protection coverage as well as bodily injury liability cover. The minimum amount of bodily injury coverage is set at $20,000 per person and $40,000 per accident, with a mandatory minimum of $5,000 for property damage liability. The no-fault personal injury protection minimum is set at $8,000. Uninsured and underinsured motorist coverage is mandatory in Massachusetts and the minimums are $20,000 per person and $40,000 per accident. Minimum coverage is usually insufficient to protect assets in the event of a serious accident, and it is advised to purchase coverage with higher limits.
Advice for Getting the Best Deals
In Massachusetts, national and regional firms, as well as firms based in the state itself, offer auto insurance coverage. It is not possible to determine which firm or type of firm offers the best rates. Obtaining multiple quotes from reliable insurance companies that are rated A or higher by A. M. Best is highly recommended. In addition, it is advised to consult the J. D. Power consumer satisfaction ratings for each company.
Using this site to get auto insurance news and to obtain periodic multiple quotes from competing insurers enables drivers in Massachusetts to get the best possible rates.
