Car insurance is a necessity in Massachusetts. In a state with as much traffic congestion and automobile accidents as the Bay State, every driver needs to carry some form of car insurance. Unfortunately, insurance and affordability do not always go hand-in-hand. If you’re finding yourself stressed and confused trying to insure your car without breaking your budget, we have some tips for you. Below, we’ve compiled a handy guide explaining Massachusetts car insurance rates and how you can lower the amount you pay in premiums each month.
What Is the Average Massachusetts Car Insurance Rate?
On average, Massachusetts residents pay around $1,294 per year. This is slightly lower than the national average rate, which is around $1,321 per year. Residents in certain cities may pay more in premiums each year because their cost of living is higher. For example, residents in cities like Worcester, Boston, and Fall River can expect to pay more than 20% of the state average.
What Factors Can Influence Car Insurance Rates in Massachusetts?
One of the most prevalent determinants of your insurance rate in Massachusetts is your driving record. Customers with clean driving records are much more likely to get lower rates than customers with marks on their records. Infractions like a DUI, speeding, or reckless driving can cause a customer’s insurance rate to skyrocket. These infractions can result in surcharges on your insurance plan for at least three years, though they may affect your rates for much longer.
If you have numerous violations on your driving record, an insurance company can potentially deny you regular coverage altogether. You may have to search for a different provider that offers specialized high-risk coverage. You may pay several hundred dollars more per year for adequate coverage as a high-risk driver, so it’s best to engage in safe driving habits to keep your insurance rates low.
Another factor that can influence your car insurance rate in Massachusetts is your age. Customers who are between the ages of 16 and 20 will often pay more than older drivers. After you turn 20, you may start to notice your car insurance rates decrease.
Significant decreases in car insurance rates occur in your 30s, and you can observe a continuous decrease in what you pay as you age into your 40s and 50s. Some insurance providers may charge elderly individuals who are 60 and older higher rates. They may see these drivers as at higher risk because of age-related conditions that can impair their driving abilities.
A final factor that’s influential to Massachusetts car insurance providers is the type of vehicle you drive. All insurance providers will have different underwriting methodologies, so you may obtain varying quotes from different companies. Typically, insurance providers will charge customers higher rates if they have newer vehicles with expensive parts. Customers may also pay more if they drive vehicles with low safety ratings or if the vehicles are sports cars that they view as inherently riskier than more family-centric vehicles.
What Factors Do Not Influence Car Insurance Rates in Massachusetts?
In many other U.S. states, gender can influence car insurance rates. Insurance providers typically view men as riskier drivers than women, so they may charge men slightly higher annual premiums when all other factors are the same. However, the state of Massachusetts bans insurance providers from deciding insurance rates based on gender.
Another factor that the state of Massachusetts bans insurance providers from using is a customer’s credit score. It doesn’t matter if you have exceptionally good or bad credit. It’s possible for customers with a high credit-based insurance score and a low credit-based insurance score to pay around the same amount in monthly premiums if they have other factors in common.
What Are the Minimum Car Insurance Requirements in Massachusetts?
The state of Massachusetts requires all drivers to have a minimum amount of car insurance. Any policy that you purchase must include the following coverage:
- $20,000 per person and $40,000 per accident for bodily injury that an uninsured motorist causes
- $20,000 per person and $40,000 per accident for bodily injury to others
- $8,000 per person, per accident for personal injury protection
- $5,000 per person for damage that occurs to someone else’s property
These are just the minimum requirements that the state imposes. They’re often not enough to cover the full costs of damages if an accident occurs. Experts often advise drivers to purchase additional coverage so that they don’t have to pay for costly repairs and medical bills out of their own pockets if they’re a part of a car accident. The amount of coverage you decide to purchase is a personal decision.
How Much Is the Minimum Car Insurance Rate in Massachusetts?
The amount you pay for the minimum car insurance that Massachusetts requires will vary depending on what provider you choose. State Farm and Geico insurance typically offer some of the lowest rates available. Other providers like Travelers and Progressive charge high rates even for minimum car insurance.
Is Massachusetts an At-Fault or a No-Fault State?
Massachusetts is a no-fault state. If an individual is in an auto accident, their insurance company will pay for any medical expenses that occur because of the accident. The insurance provider doesn’t account for who was at fault when issuing payments. This means that it’s important for all drivers to have insurance that provides adequate coverage.
Do You Have To Name Other Drivers on Your Massachusetts Car Insurance Policy?
Insurance providers require that you name other drivers on your Massachusetts car insurance policy. You must name anyone who drives your vehicle on your policy for proper insurance coverage, including individuals who are related to you by blood or law through processes like adoption or marriage. This also includes anyone you live with, whether you are related or not. You must also confirm that any driver you name has a valid Massachusetts license.
How To Save on Massachusetts Car Insurance
Here are some ways you can save money on your Massachusetts car insurance:
- Avoid driving infractions: Driving safely is one of the best ways to keep your car insurance rates low. By keeping infractions like speeding and reckless driving off your record, you can show that you’re a low-risk driver.
- Bundle your home and auto insurance: Find a provider who will bundle your home and auto insurance. If you need to pay for both anyway, you can get a discount on a bundled plan rather than paying for each individually.
- Look into organization-specific discounts: Some providers may offer you a discount if you belong to a group like a college alumni association or business club.
Not every car insurance policy is built the same, so you should research every provider and their policies before choosing the right car insurance for you. With this guide in mind, we hope that you can shop for Massachusetts car insurance with confidence.
At FIXD, our mission is to make car ownership as simple, easy, and affordable as possible. Our research team utilizes the latest automotive data and insights to create tools and resources that help drivers get peace of mind and save money over the life of their car.