Car Insurance Quotes for Massachusetts…Finally.
This month marks a special moment in the history of auto insurance for Massachusetts drivers for the reason that they will be able to do something they haven’t been able to do for more than 30 years: buy car insurance from insurance companies that compete with each other. That is, the government has de-regulated insurance companies to no longer force companies to charge the same price for the same driver. Instead, insurance providers can charge whatever they want and can now actually compete with each other for your business by offering special discounts, increased coverage and of course lower insurance premiums.
Pro-business groups see this as great news for consumers as they will now will have a lot more choices in regards to obtaining and comparing car insurance quotes.
From the late 1970s, drivers from Massachusetts had no viable insurance products to choose from as all insurers were forced to rate drivers and charge drivers exactly the same. This essentially meant, all insurance companies had to compete with other for the same target market. Now with the lift on forced rates, insurance companies can now go after niche markets as they can charge different groups different rates -as all other states in America do.
One popular coverage option insurance companies can now offer is accident forgiveness. This coverage allows insurance companies to forgive or not rate an insured for their first accident and essentially not charge them on their next renewal as they normally would someone who had an at-fault accident in the previous term. This of course, has been proven to be a marketing gimmick of sorts, as it has been pointed out companies are merely charging you as if you already had the accident to begin with. But you get the idea.
Essentially, competition in Massachusetts’ auto insurance industry should help lower prices in the short term as companies feel the wrath of competition. However, as all economic cycles have their boom and bust, and the insurance cycle is no different, there will unfortunately be times when Massachusetts drivers are wondering why they ever wanted their insurance companies to compete in the first place.
Related Articles:
It's hard to trust other sites when they are owned by an insurance company, why would they give me a higher price than their competition? You guys provided me with an unbiased quote and I appreciate that. I also received a really good price too. Thank you.
