It is this MA insurance agency owner’s belief that MA auto insurance “managed competition” has been a good thing for most MA auto insurance consumers.
However, there is a dark & dank underbelly.
There was a reason Massachusetts moved to government regulated insurance rates under Mike Dukakis. Urban rates were dramatically higher than suburban rates.
Companies are now free to charge whatever they want for rates for, just about, any reason.
Our insurance agency does a ton of auto insurance rating, and we are starting to see large urban area rate increases and big differences between what different companies are charging for rates in different territories.
Another part of the dank underbelly of MA auto insurance “managed competition” is companies now require, for cancelled policies, 100% of annual premium to be “paid in full” before rewriting.
This requirement is often unrealistic for those that have had payment problems.
Still, for most MA auto insurance consumers “managed competition” has brought with it: more choices, lower rates & improved insurance programs.