massachusetts auto insurance


A look back: NECN's report on introduction of competition to Mass. auto insurance market

We dig back into the archives to watch NECN’s coverage of the introduction of managed competition to the Massachusetts auto insurance market. NECN does a good job at covering Massachusetts auto insurance issues and it’s interesting to note how much Massachusetts auto insurance consumers have learned since April!

Is closing the auto appeals board right for Massachusetts?

On its editorial pages,the Worcester Telegram & Gazette tackles the question of whether or not the auto appeals board is truly obsolete due to the introduction of managed competition in Massachusetts:

The system could be cumbersome, to be sure. However, it remains to be seen whether its replacement — an at-fault review process conducted by the insurer — will be more expeditious or consumer friendly.

One notable point is also stated by the Telegram & Gazette:

Ms. Burnes promises to monitor the change and “issue further guidance” as needed. If the company-driven reviews fail to meet expectations, a prompt return to the appeals system should be among the options in play.

It’s good to know that Insurance Commissioner Nonnie S. Burnes is open to reverting back to the old system and reestablish the appeals board, should this new approach fail. At MassDriver.org, we covered the end of the Massachusetts auto appeals board previously. Be sure to check back here for further updates!

Fitch Ratings examines Massachusetts auto insurance market

Insurance Journal presents a very in-depth piece on a report by Fitch Ratings on the new competitive auto insurance market in Masschusetts.  Automobile insurance in Massachusetts will never be truly competitive, says Fitch, until the state of Massachusetts abolishes its ban credit rating system for car insurance.

A look at "competition" in Massachusetts before 2008

A good article from the Motley fool on the financial standing of the state’s second largest insurer, Safety Insurance Group, and how insurance companies operated in Massachusetts before the state opened up its doors to auto insurance companies and competition.  As a consumer, it’s a noteworthy process to be aware of the old system and how it dictated the purchase of auto insurance in Massachusetts.

A glance back at the Massachusetts auto deregulation debate

This is a worthwhile article from the Providence Journal published in 2007 that goes through some of the common objections to the deregulation of Massachusetts Auto Insurance.   For some politicians like Joan Menard, D-Somerset,  the primary issue that caused most concern is how competing auto insurance companies in Massachusetts would set rates and what data is at their disposal in making those rates.  This particularly articles gives a good early-stage view at how prevailing opinion has developed over time within Massachusetts car insurance circles.

Newcomers versus legacy carriers in Massachusetts auto insurance marketplace

Competition has certainly changed the playing field in the world of Massachusetts Auto Insurance.  Although insurance agents continue to provide value to consumers, the increased competition is not desirable for Massachusetts insurance agents because it will change the playing field dramatically for Massachusetts Auto Insurance.  One situation with a group of Massachusetts Auto Insurance agents and Massachusetts Insurance Commissioner Nonnie S. Burnes, alleges preferential treatment for newcomers to the Massachusetts Auto Insurance marketplace.

Who says comparison shopping isn't worth it?

In this release by Electric Insurance Company, the company encourages Massachusetts Auto Insurance customers to forgo comparison websites and shop with it directly, citing the availability of inducements and discounts on its own cite.  We can’t say that we agree with Electric, though we do like their insurance products!  Comparison sites like MassDrive.com and others give Massachusetts Insurance customers the broadest range of choice and prices for their unique needs.  Go ahead and compare – no matter what anyone tells you!

Why does it make sense for most Massacusetts auto insurance customers to compare?  A few simple reasons:

  • Insurance companies sometimes have vastly different rates that can cost or save you money
  • Depending on you and your family’s unique situation, certain insurance companies will offer benefits that will save you the most money
  • Comparison shopping will inherently give you more information about the auto insurance process in Massachusetts
  • It’s now a free market!

'You're Entering Massachusetts,' Progressive

Progressive Auto Insurance is now available for Massachusetts Car Insurance buyers, due to the introduction of competition by the Commonwealth of Massachusetts.  According to this article in the Insurance Journal, Progressive is selling its services both directly to consumers and through agents.  According to Cathy Wilton-Bransch, a spokesperson for Progressive:

“We appreciate the work the [Massachusetts Division of Insurance] has done to create a regulatory environment that allows companies to compete for customers. We hope that come May 1, drivers will check out progressive.com and see what we have to offer.”

In a related point, The Insurance Journal notes that Liberty Mutual insurance company plans to return to Massachusetts, as a result of deregulation of the insurance market in Massachusetts.

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