How Do I Find a Top Auto Insurance Company in Massachusetts?

Massachusetts skyline
When it comes to choosing an auto insurance company, Massachusetts motorists have many different options. But not all policy providers can offer the same rates or quality of service, so, to find a top rated insurer, residents need to shop around. Making comparisons online can help vehicle owners efficiently identify which producer can have the lowest rates, offer the best service, and be adequately prepared to pay out claims.

As of March 2011, there were over 30 companies to choose from in the Bay State. Because MA no longer follows the "fix-and-establish" system, insurers are allowed to set their own rates, which must be approved by the Commissioner of Insurance. However, one important quality for top rated insurance companies is affordability, and insurers commonly use different methods for setting rates.

Competition among producers helps to drive down prices, giving residents the opportunity to shop around for the cheapest protection available. Drivers are encouraged by the MA Office of Consumer Affairs and Business Regulation (OCABR) to utilize online resources to compare as many quotes as possible. On the Internet, consumers can view dozens of sample rates at once, which can serve as the perfect starting point for further research into the best coverage provider available.

Important Qualities to Look for in MA Car Insurance Companies

The important qualities of a top insurer in the Bay State extend beyond policy price. Residents should also be concerned about the quality of service that a producer can offer, and its ability to pay out claims. A lot can be said about a company based on the number of complaints it receives annually. To help residents shop, OCABR regularly gathers and publishes consumer complaint data on the Internet.

These reports list the number of justifiable grievances that each insurance company or group receives in a given year in relation to the value of premiums it issued. Motorists can explore this data to develop a basic understanding of the level of satisfaction experienced by other drivers. Personal opinions from trusted family and friends can also provide insight into how courteous and efficient a producer is when filing a claim.

The financial strength of a company can also be an important quality that is commonly overlooked. When Massachusetts motorists pay for their coverage, the money is usually invested by their insurer in a number of ways, and is used to pay out claims in the future. If a policy provider has a poor investment history or is on the verge of bankruptcy, it may have difficulty meeting its financial obligations. For this reason, car owners are encouraged to research fiscal information before making a purchase.
Massachusetts postage stamp
To find out more about an insurance company's economic background, residents can go online and utilize data provided by rating agencies. These businesses regularly publish info online that rank insurers based on their creditworthiness, investment history, and overall financial strength.

By extensively shopping around online and utilizing the data provided by OCABR, Massachusetts motorists can easily explore the overall quality of each insurer in the Bay State. Every producer in MA has unique standards and rating methods, which can mean that the top insurer for one driver may not be the best for another.