Mass. Auto Insurance Prices Climb Back Up In spite of Deregulation

Auto insurance coverage prices that fell sharply following deregulation in Massachusetts are climbing once again.

The Boston Globe reports that 5 years following Massachusetts began to let insurers to set their own rates, the average premium was about the identical as it was ahead of the alter.

According to figures from the state Division of Insurance, premiums dropped about 12 % among 2007 and 2009 to a statewide average of $ 861, saving the average motorist about $ 122 per year.

By 2012, the average premium was back up to $ 974, only $ 9 much less than what it was just before deregulation. 2012 was the most recent year that statistics had been offered.

State officials say deregulation has helped consumers by supplying far more selection. The quantity of businesses offering auto insurance coverage in Massachusetts has practically doubled.

Connected Articles:
Mass. Division of Insurance Approves 2 New Entrants to State’s Auto Insurance Market place
Allstate Agents Returning to Massachusetts After 25 Years

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Mass. Auto Insurance Prices Climb Back Up In spite of Deregulation

Mass. Auto Insurance coverage Rates Climb Back Up In spite of Deregulation

Auto insurance prices that fell sharply right after deregulation in Massachusetts are climbing again.

The Boston Globe reports that 5 years right after Massachusetts started to permit insurers to set their personal rates, the average premium was about the very same as it was before the change.

According to figures from the state Division of Insurance coverage, premiums dropped about 12 % among 2007 and 2009 to a statewide typical of $ 861, saving the typical motorist about $ 122 per year.

By 2012, the average premium was back up to $ 974, only $ 9 much less than what it was just before deregulation. 2012 was the most current year that statistics have been obtainable.

State officials say deregulation has helped customers by supplying far more selection. The number of companies offering auto insurance in Massachusetts has almost doubled.

Associated Articles:
Mass. Division of Insurance coverage Approves 2 New Entrants to State’s Auto Insurance Market place
Allstate Agents Returning to Massachusetts Right after 25 Years

Copyright 2014 Associated Press. All rights reserved. This material may possibly not be published, broadcast, rewritten or redistributed.

« Previous article

Obesity Linked to Increased Fatigue in the Workplace

Next report »

Total Expense of Threat for Organizations Rose 2% in 2013: RIMS

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Mass. Auto Insurance coverage Rates Climb Back Up In spite of Deregulation

Mass. Auto Insurance coverage Prices Climb Back Up In spite of Deregulation

Auto insurance prices that fell sharply soon after deregulation in Massachusetts are climbing once more.

The Boston Globe reports that 5 years following Massachusetts started to allow insurers to set their own rates, the typical premium was about the exact same as it was before the alter.

According to figures from the state Division of Insurance, premiums dropped about 12 % among 2007 and 2009 to a statewide typical of $ 861, saving the typical motorist about $ 122 per year.

By 2012, the typical premium was back up to $ 974, only $ 9 less than what it was before deregulation. 2012 was the most current year that statistics have been available.

State officials say deregulation has helped consumers by offering a lot more selection. The quantity of organizations offering auto insurance in Massachusetts has almost doubled.

Connected Articles:
Mass. Division of Insurance Approves 2 New Entrants to State’s Auto Insurance coverage Market place
Allstate Agents Returning to Massachusetts Following 25 Years

Copyright 2014 Connected Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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Obesity Linked to Elevated Fatigue in the Workplace

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Total Cost of Danger for Businesses Rose 2% in 2013: RIMS

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Mass. Auto Insurance coverage Prices Climb Back Up In spite of Deregulation