Car insurance is about to get more expensive in Massachusetts
According to The Boston Globe, auto insurance companies across Massachusetts are raising their rates by as much as 6 percent this year.
Why? As usual, you can blame the weather.
The brutal winter that slammed New England caused slippery roads and treacherous driving conditions that caused more car accidents and medical expenses.
But it’s not just the weather. Higher auto sales and lower gas prices helped increase the number of cars on the road and, in turn, the likelihood of accidents.
According to the Globe:
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.
At least one company plans to lower insurance rates, according to the Globe. Mapfre Insurance, previously known as Commerce Insurance, filed paperwork with the Massachusetts Division of Insurance to lower rates by 1.3 percent.
Read the full Globe story here.
If your rates are going up, at least these cars might save you a few bucks on repairs:
J.D. Power Dependable Car Brands
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