As a Massachusetts auto insurance broker I often get asked the question: Who has the lowest price for auto insurance?
I start to answer, stutter and start to answer again.
“It depends …” and I begin the long, exotic tale about Massachusetts auto insurance.
There once was a time, eons ago, when all companies had the same price for auto insurance as dictated by The Mighty: MA Auto Insurance Commissioner.
Wide-eyed, my listeners’ attention captivated, I continue:
There was one company, however, that offered the Holy Grail of auto discounts: The 5% AAA – auto club discount. That company was: Commerce. Commerce was The King.
Then, in 2008 “managed competition,” competitive rating, auto insurance rode into Massachusetts on a white horse followed, in 2012, by a scurrying green lizard.
Commerce Insurance morphed into MAPFRE and waved their 33% Massachusetts auto market share adios.
MA auto insurance market shares as of 3rd quarter 2018:
|COMPANY NAME||EXPOSURES||MARKET SHARE|
|4. LIBERTY MUTUAL||301,843||9.18%|
|6. PLYMOUTH ROCK||196,877||5.99%|
|9. TRAVELERS OF MA||112,878||3.43%|
|10. AMICA MUTUAL||110,692||3.37%|
|13. QUINCY MUTUAL||57,196||1.74%|
|15. NORFOLK AND DEDHAM MUTUAL||38,788||1.18%|
|16. VERMONT MUTUAL||38,033||1.16%|
|17. NATIONAL GRANGE||36,592||1.11%|
|18. PREFERRED MUTUAL||19,668||0.60%|
|19. OCCIDENTAL INS||16,387||0.50%|
|20. STATE FARM||14,583||0.44%|
|23. GREEN MOUNTAIN||9,096||0.28%|
|26. BANKERS STANDARD||7,980||0.24%|
|30. AMERICAN INTERNATIONAL||2,467||0.08%|
|31. HARLEYSVILLE WORCESTER||1,754||0.05%|
Basically, the 11 point something Commerce/MAPFRE has lost has gone to Geico. (This, of course, is an over-simplification. They, and others, have taken business from others.)
But this, of course, as is everything, is just the beginning of our story.
Who has the lowest price for Massachusetts auto insurance?
In 2008 our growing independent agency took on new company appointments (including Progressive).
America changed the way we shop for everything, including auto insurance. We flocked to the internet. We compared prices, we compared coverage, we compared companies.
Companies changed the way they price their products.
One company marketing representative expressed delight when he declared their auto rates had an infinite amount of price points. Their price went infinitely out of site as their MA market share dwindled.
Insurance Companies each charted out their course and defined who and what their target market would be.
Often companies targeted the same market and a premium, blood-bath of consumer savings ensued. In fact, it could be argued, continues today.
Which leads me to, and in conclusion, who has the lowest price for auto insurance in Massachusetts?
We do. MassAutoQuote.com.
We are your local, independent insurance agency.
We’ll shop your individual circumstance with numerous companies taking advantage of the best discount programs.
Give us a call, click or stop by.