New Auto Insurance Study

The Massachusetts Automobile Insurance Study Group, has released a new study that was commissioned by Governor Patrick to “identify opportunities within the existing system to increase competition and reduce costs while maintaining equity.”

The group, and Auto Insurance Study Group, was convened by Dan Crane. Crane is the Director of Consumer Affairs and Business Regulation, and the governor asked for the study in part because they want to see if there is a chance at reducing Massachusetts’ car insurance rates.

The report actually contained a lot of good news for auto insurance holders, as it contained several recommendations for lowering their auto insurance premiums. One of those plans would hold only those responsible for the high accident rates responsible for those premiums.

Massachusetts currently has the highest in the nation accident rate, which of course has given them high auto insurance numbers because of it. They want to maintain consumer protections like limitations on rating factors and to make sure that the Safe Driver Insurance Plan is working as it should be.

But the best news is that overall, auto insurance rates are dropping and will continue to drop over the course of the year ahead as well. The auto insurance companies say that if the state can continue to work on reducing the number of accidents as well, they will be able to add that reduction into auto insurance rates which will further reduce premiums.
 

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