The Truth Is, Sometimes My Husband Gets It Right

Are insurance rates on the rise in Mass. -Winter damage, more driving spur spike in claims

By Deirdre Fernandes GLOBE STAFF MAY 25, 2015

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Car insurance premiums are rising for many Massachusetts drivers as insurers recover losses from a harsh, snowy, and slippery winter, and an improving economy encourages more driving — and more accidents.

Insurers are boosting their overall rates by as much as 6 percent this year, according to filings with the Massachusetts Division of Insurance, continuing the trend of steadily rising premiums over the past few years. Expect premiums to swell again next year, too, industry officials said, because insurers are spending more money on claims this year.

Boston-based Safety Insurance will raise rates by 3.8 percent starting June 1. Liberty Mutual, which has the second-largest share of the Massachusetts auto insurance market, raised rates an average of nearly 5 percent in April, following a 7 percent increase in 2014. Nationwide Insurance will increase its rates by 6 percent on new and renewing customers starting in July.

A few companies are lowering rates. The largest auto insurer in the state, Mapfre Insurance, until recently known as Commerce Insurance, submitted regulatory paperwork earlier this year to decrease overall rates by 1.3 percent.

This is exciting news for customers of Dolan & Maloney Insurance, one of the leading Mapfre Agencies in the state. While other companies rates are increasing, customers with Dolan & Maloney may see a decrease. 

As insurance costs rise, it’s important for consumers to compare rates from at least three carriers to get the best price, said Ting Pen, founder of ValuePenguin.com, a consumer research and data website. Pen said insurers are passing on the costs of paying “a higher number of claims and higher dollar amounts per claim.”

Again, this information suggests that customers at Dolan & Maloney Insurance are in the know. As an independent agent, Patrick works for his customers by researching many different insurance companies to help his customers find the best coverage and rate. This effort uniquely benefits his customers in the short and long term. Why do the leg work yourself when an expert can do it for you?

More insurers may submit rate increases in the coming months to address losses from the first three months of 2015 .

Not all drivers will see premiums rise. Consumers, especially those with good driving records, can still get deals, insurance agents said. Companies often offer discounts to keep reliable customers or entice people to bundle home and auto policies, said William Suneson, chief executive of MassDrive Insurance Group of Boston.

Here again, independent agents like Patrick can help you to find discounts and rates that best suit you and your family. 

For more information, send Patrick an email at patrick@dmia.com 

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