Did you know that Massachusetts has one of the highest numbers of driving citations in the country (9th)? This would have the effect of increasing car insurance rates. This may be because the police and authorities in the state are keener to catch the offenders rather than too many motorists breaking the laws. Maybe citations are the sign of well controlled traffic regulations and they may be for minor offences. Massachusetts has the lowest Uninsured Drivers rate in the country (4.5%). It is a positive outcome up against the high number of traffic violation citations. It seems you cannot have it all.
Unfortunately, MA has one of the highest living costs in the United States. When your bills are usually high your premium costs may have a lower portion of the budget. This would have the effect of making premiums more affordable.
Massachusetts Car Insurance Requirements
These figures are taken from very helpful State website where options and terminology explained kindly.
Generally, having an inquiring mind serves you better. There are too many consumers who don’t ask questions or wonder if they could buy their goods and services cheaper. This is reflected when they are buying car insurance policies as well. When you don’t ask questions you get to keep your high premiums for years. Your insurer will not automatically check for the best policies on offer or highest discounts. They will keep offering you the same renewal terms that will make you miss all the improvements in the market in terms of premium and coverage.
It seems that most things are going for the 4.7 million drivers in the Bay State. Having low uninsured drivers and better controlled roads are indication of safer driving environment. This would mean that insurers have fewer reasons to charge you higher premiums. Still it is up to you to find inexpensive automobile insurance in Massachusetts and you can achieve this by maximizing your savings and minimizing surcharges.
You need to shop around a bit to get the best deals too. Trying hard to stay loyal to one company would reduce your choices dramatically. Perhaps, they come to their senses when they realize that you have got better offers and about to walk out the door. Many people think this doesn’t happen but vehicle insurers have a way of magically finding discounts for you and match the prices offered by their rivals.
First thing you should do is to get quotes to find out what else on offer in the market. If one of them sticks out in terms of coverage, price and reliability of the provider you can go with it. Otherwise, you can take your time to compare various options or go for the second round of quotations with some changes on the coverage required.
Don’t you worry that your premium will shoot up when you increase your coverage requirements. Generally, prices go up very slowly while the covers included in the policy go up substantially. This is one of the lesser known facts about insuring automobiles. We have a few great articles on our site that can help you find the best deals and learn more. Most people may think that there is nothing new they can learn. Then, call it refreshing your knowledge.
Average Cost of Auto Insurance in Massachusetts
There are a few demographical characteristics that affect policies. The residents are well educated and in a much better position financially compared to the rest of the US. A clear indication of this is the fact that the state has the lowest uninsured drivers in the country but it is not limited to that. We can understand the position better when we look at the average premium expenditure and average cost of full coverage policies below.
Average cost of premiums is $1,008 and it is $167 over the US average of $841. Even though average premium looks expensive appearances can be misleading. We can see it more clearly when we look at the estimated cost for a full coverage policy. It is bang on level with the US average of $1,325. In other words, you can get relatively affordable full coverage car insurance in Massachusetts by spending little over $300 more than the average premium.
This means that the most popular auto insurance here is by far full coverage policies. That is probably the main explanation why the average premium expenditure is so close to full coverage. Another reason may be that most insurers, agents and brokers are pushing to sell full coverage policies instead of liability only vehicle insurance.
This is not an unknown phenomenon since some companies are known to offer better full coverage quotes than liability only quotes. It is their policy to try and capture more affluent clientele rather than selling policies whichever way they can. It is a popular belief and supported by statistical figures that more affluent policyholders are less likely to make claims.
On the other hand, motorists who buy minimum liability coverage because that is the minimum coverage they are required to buy or they can only afford this much coverage aren’t seen as favorable type of a policyholder. Besides, basic liability coverage is the first in the firing line to pay for third party claims no matter how small it is. Additional liability coverage bought only comes into play when the claims are bigger than the basic liability levels.
Cheapest Auto Insurance Companies in Massachusetts
The most competitive insurer changes depending on your zip code and other particulars. A cheap insurer for a good driver may not necessarily affordable for a student driver. However, there is a high chance one of the insurers below will offer you a cheap quote because they usually offer around 20% cheaper rates than the state average.
- State Farm
- Grange Mutual
Car Insurance Boston, MA
The average premium in Boston is 4o% higher than the MA average. Even though it is no surprise the city has one of the highest rates in the Bay State. Boston is the largest city in the state and it is 3 times more populated than the second largest city in MA. Generally densely populated large cities like Boston have higher than average vehicular accidents and crimes. For example, crime rates in Boston 3 times higher than the state average. So, it is not surprising to see higher than usual rates but you can still get economical auto insurance in Boston if you follow some of these tips on our site.