New reports are showing that deregulation of the insurance market is not proving to be successful. “When the Division of Insurance introduced the new deregulated auto insurance system nearly two years ago, they contended that this system would result in better rates for consumers,” said Attorney General Martha Coakley in a statement. “While the long-term results of this new system remain to be seen, our office is concerned that consumers may not, in fact, be getting the best rates and the protections they deserve.”
This report from Attorney General Martha Coakley, points out that one of the main causes from increased rates is the lack of consumers shopping around. Shop around! If you do not shop around you are not going to get the best policy for your dollar. The deregulation has brought in more insurance providers so it is important for consumers to take advantage of this and save some money!