Tips To Save You Money Archives - Page 6 of 11 - Massachusetts Auto Insurance

To Gap or not to Gap …

What is Gap Insurance?

If a car is stolen or declared totaled, the auto insurance company will pay actual cash value for the car.

The actual cash value can be a lot different from what is owed on the vehicle.

Without gap insurance the lender will hold the individual responsible for paying the difference between the actual cash value and the amount left on the loan. Gap Insurance covers this amount.

Once a relatively expensive purchase, many Massachusetts auto insurance companies now offer Gap coverage as part of their insurance programs they offer to preferred drivers.

For instance, Vermont Mutual offers their “Advantage” endorsement for step 99 & 98 drivers. For $49 this endorsement includes, among many things, “Auto Loan/ Lease Gap Coverage.”

This endorsement reads:

This coverage applies to Optional Insurance:

a. Collision (Part 7)

b. Limited Collision (Part 8); and

c. Comprehensive (Part 9).

In the event of a covered total loss to your auto shown in the Coverage Selections Page, we will pay any unpaid amount due on the lease or loan less:

a. The amount paid under Collision (Part 7); Limited Collision (Part 8); or, Comprehensive (Part 9) of your policy.

b. Any:

Overdue lease/loan payments.
Penalties.
Taxes.
Interest or charges resulting from overdue payments at the time of the loss.
Financial penalties imposed under a lease for excessive use, abnormal wear and tear or high mileage.
Security deposits not refunded by the lessor
Costs for extended warranties purchased with the loan or lease.
Cost for Credit Life insurance purchase with the loan or lease.
Cost of Health, Accident or Disability insurance purchased with the loan or lease.
Carry-over balances from previous loand
Carry-over balances from previous leases.

Call or click us today to get your free, full, comprehensive Massachusetts auto insurance review!

Eight Gas Savings Tips:

Go easy on the brakes and gas pedal. Avoid “jackrabbit” starts. Try to anticipate stops to avoid sudden braking.
Avoid long idles. Turn off the engine if you expect a lengthy wait. Idling burns more gas than restarting the engine.
Avoid carrying unneeded junk in the trunk. More weight equals worse gas mileage.
4. Avoid driving at high speeds. Mileage improves by 15% if drive 55 instead of 65mph.
Keep air conditioning to a minimum. Try rolling down the windows instead.
If you have overdrive, use it. It’s more economical at high speeds.
Keep tires inflated properly.
Get regular tune-ups and maintenance checks, both of which improve mileage.

Massachusetts Auto Inspection Sticker Blues

In Massachusetts, a ticket for an expired vehicle inspection sticker is the equivalent, in auto insurance citation points, of a moving violation.

According to the MA Department of Insurance:

Surcharge points are incurred if you:

cause an at-fault accident
are convicted of or pay a fine for a traffic law violation
are assigned to an alcohol education program
An expired inspection sticker is considered “pay(ing) a fine for a traffic law violation.”

Perhaps the cruelest of all surcharge points on the personal MA Auto Insurance Policy is the one for an ”expired inspection sticker” citation.

In Massachusetts, a ticket for an expired vehicle inspection sticker is the equivalent, in auto insurance citation points, of a moving violation.

According to the MA Department of Insurance:

Surcharge points are incurred if you:

cause an at-fault accident
are convicted of or pay a fine for a traffic law violation
are assigned to an alcohol education program

An expired inspection sticker is considered “pay(ing) a fine for a traffic law violation.”

A $40 ticket results increased insurance costs for 6 years! About 20% increase the first three years, diminshing the following three .

Check your MA Inspection Sticker: Don’t let it lapse!

Massachusetts Auto Insurance: Accident Forgiveness

The Massachusetts auto insurance market has long been neglected many of the discount and insurance programs consumers in other states have had.

Because Massachusetts auto insurance was highly state regulated many insurers left the state and some refused to enter the market.

In 2008 Massachusetts welcomed managed competition auto insurance and everything changed.

Now consumers can choose between many companies and rates can vary by hundreds of dollars.

Now, more than ever, MA auto insurance consumers should utilize the professional, discount shopping skills of the independent insurance agency.

One of the new programs many Massachusetts auto insurance companies now offer is: “Accident Forgiveness.”

Some companies make you buy it, some companies make you earn it.

Some companies will only include Accident Forgiveness if you have a perfect driving record, some will include it if you’ve had up to one previous accident.

Another MA company will give it to you only if you have a perfect driving record AND you’ve been insured with them for four years.

What is Accident Forgiveness?

Accident Forgiveness does not erase accidents already on your driving record. Instead, if you have the endorsement on your policy they will forgive future at-fault accidents.

Are all insurance companies’ Accident Forgiveness program the same?

No. Each company offers the program only to certain drivers. New drivers, or new insurers, or those with multiple accidents may not qualify.

Consumers placed with a company through the MAIP program may not qualify either. Check with your agent or company to see if you qualify.

Does Accident Forgiveness make sense for you?

Sometimes the Accident Forgiveness program is bundled with the “Disappearing Deductible” endorsement. Sometimes it makes financial & coverage sense to include the endorsement and increase your collision deductible.

Contact MassAutoQuote.com if you have any questions about Accident Forgiveness or concerns about your MA auto insurance policy.

We welcome the opportunity to review your insurance and offer different coverage and premium options.

#1 Tip to Save You Money on MA Auto Insurance …

(drum roll, please …)

1.) Drive Safely!

First and foremost, Massachusetts credits good drivers! The best automobile drivers in Massachusetts get the best rates. If you have been licensed over 6 years and have had no moving violations (speeding tickets etc), no at-fault accidents, no revocations or suspensions then you are a 99 driver (Class 10). The next best drivers are the 98. From here driving records go from 0 (neutral/ number of points that new drivers are given) to 45. Points are given out for moving violations and at-faults accidents. 0 points for a first moving violation (although you lose your credit points – so, in fact you lose two “credits”), two points for each consecutive violation. A “minor” at-fault accident (less than $2,000 combined damage) is a 3 point surcharge and a “major” accident is 4 points. Contact us if you would like to review your driving record.

Massachusetts Auto Insurance

Right now is a great time to shop for MA auto insurance.

Why?

Because long gone are the days of state-set Massachusetts auto insurance rates.

Since April 1st of 2008, Massachusetts realized “Managed Competition” personal auto insurance. State regulations loosened, companies entered and re-entered the Commonwealth.

Insurance companies are now free to charge different rates for different coverage than other companies.

Massachusetts auto insurance consumers were long neglected some of the insurance programs offered to drivers in other states, such as: accident forgiveness & disappearing deductibles.

To get your free, no obligation Massachusetts Auto Insurance Quote: Call or Click us today!

Competetive, Comparative Auto Insurance Quotes

Massautoquote is your online Massachusetts insurance broker.

We utilize the power of the independent insurance agent to rate you with multiple companies & find you the best rate and insurance program.

Massautoquote’s Privacy Statement:

Your personal information will never be used, or sold, for any purpose other than to supply you with the requested insurance information. You will never receive an uninvited solicitation from anyone as a result of Massautoquote’s service.

Tips To Save You Money

Get a quote from us.

The other day we received a quote request from the husband of a woman who is presently insured with our independent Massachusetts insurance agency and one of our A rated carriers (Vermont Mutual Insurance Company).

He was with GEICO and was comparing his coverage with hers and remarked, “her coverage is inferior to my coverage.”

We went line item by line item and found he was talking about was his $250 Collision & $250 Comprehensive coverage deductibles.

He carried only $50,000 Part 4, Property Damage Coverage vs. our client’s $100,000 Property Damage Coverage.

For approximately $3 annually he increased his Part 4, Property Damage Coverage, from $50,000 to $100,000.

In addition, he did not notice that his wife carries Vermont Mutual’s “Advantage” endorsement which gives her a “disappearing collision deductible,” which lowers her $500 deductible to $200!

Also the Advantage endorsement gives her accident forgiveness & $50 per day substitute transportation.

We ran rates for him, packaged their autos together (giving them both multi-car discounts) with their apartment coverage, and was able to save them over $100 while improving his coverage!

Your MA driving record:

Your Massachusetts driving record is based on such factors as: years licensed, age, accidents and moving violations.

Your MA driving record, along with: other operators, town, vehicle, and coverage specifications are the factors that determine your MA auto insurance rate.

Motor vehicle violations and at-fault accidents are called surchargeable events.

If you have been licensed for, at least, 6 years and have no surchargeable events then you are a state-best: “99? driver.

When you first get your license you are a neutral “0? point driver. After 5 years clean driving experience you receive a credit and become a “98? driver.

For a minor (less than $2,000 paid out combined damage) at-fault accident, drivers are surcharged 3 points.

For a major (more than $2,000 paid out combined damage) at-fault accident, drivers are surcharged 4 points.

For the first motor vehicle violation (includes inspection sticker violations), the state will not surcharge you — HOWEVER — if you are a “99? or “98? driver, you lose your credits and become a “0? driver. For each additional motor vehicle violations drivers are surcharged 2 points.

Each surcharge point increases your MA auto insurance by an estimated 8.5%.

The best way to save money on insurance? Drive Safely & keep your driving record perfect!

If you would like additional information or have any questions about your Massachusetts driving record contact the Merit Rating Board.

The Best MA Auto Insurance Rates –

In Massachusetts the best drivers get the best rates. If you have been licensed over 6 yers and have had no moving violations (speeding tickets etc) & no at-fault accidents then you are a state-best “99” driver.

One of the most frustrating consumer tickets is for the expired, annual inspection sticker. The state’s driving record surcharge penalty for a lapsed inspection sticker is the same as the surcharge penalty for a speeding ticket.

So, take a look at your inspection sticker.

Please call, or click, us for your free, friendly, no obligation, competitive Massachusetts auto insurance quote.