Auto Insurance Rates

Auto Insurance rates

Auto insurance rates, to put it bluntly, are all over the map.

Let’s clarify: I am a Massachusetts auto insurance agent. I have been for over 25 years. Same office. In 1994 the auto insurance rates landscape was very different.

There was one, state-set, rate.

That’s right folks. You read that right: there was one, state-set, rate. There was no competitive rating.

How did we get that way? Massachusetts didn’t, couldn’t trust the insurance companies to charge an honest rate. The citizens of The Commonwealth were taking a flogging. The state set the rate in order to protect the consumer.

Companies then had to figure out how to make a profit. And they did.

Thankfully (I think), 2008 came around and Massachusetts welcomed competitive auto insurance rating.

Our independent insurance Agency rates with 7 auto insurance companies.

Within these companies, we find auto insurance rates all over the map, from year to year.

So, you ask, why the article about auto insurance rates?

It’s because it’s important to have your agent shop your insurance from year to year.

Agencies don’t like to do it. More work, less money. However, I suggest — as an insurance agent — we must do it.

Our Agency lives by the philosophy of do what’s right for the client.

I spend some of my work time contacting clients about unpleasant insurance things like rate hikes, cancellations or claims.

People want to talk to their insurance agent like they want to talk to their dentist.

However, when I call a client to explain we can save them money on their renewal by transferring coverage to another company, it becomes a jubilant phone call.

They picked up the phone and someone saved them money.

The client is always happy. So am I.

Call, click or stop by.

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