Boston auto insurance rates are now in a competitive environment due to the deregulation of the industry in Massachusetts. This is good news for drivers because of the savings you can realize. Here are some things to consider.
The Big Dig was confusing enough, now drivers in Boston and the rest of the state must try to figure out all this stuff about auto insurance deregulation and "managed competition." Basically, rates are now set by the insurance companies instead of a single rate set by the insurance commissioner. Suffice it to say that the idea is to help consumers reap the benefits of lower car insurance rates due to competition between companies. Because of this, now would be a good time to shop for comparison quotes.
Why comparison quotes? As companies compete for your business, they are going to offer different rates from each other. Shopping around is one of the easiest and best ways to lower your auto insurance costs. It's recommended that you get at least three quotes -- or more -- from different companies or agencies.
You can call different agents or insurance companies that do business in Boston to get quotes, or go online to individual company Web sites. Many people have found it more convenient to request quotes from a comparison Web site that doesn't represent just one company. At these sites you usually only enter your information once and can get several quotes back.
This is important because in order to get the most accurate comparison quotes, you want to provide the same information about desired coverages and deductibles to each company.
The minimum required coverages for Massachusetts are:
Personal Injury Protection, or PIP-- Minimum coverage of $8,000.
Bodily Injury -- $20,000 per person, and $40,000 per accident for more than one person.
Bodily Injury Caused By an Uninsured Auto -- $20,000 per person, and $40,000 per accident for more than one person.
Property Damage Liability -- $5,000.
Again, these are the minimums and you may want to increase these for added financial protection.
Other ways to save include, increasing your deductible and taking advantage of discounts. Also, make sure to maintain a good driving record and credit score.
by Justin Scott
Check Out the Related Article : An Online Auto Insurance Comparison Can Save You Money
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