Cheapest Auto Insurance in Massachusetts

Whether you’re heading to Cape Cod for a beach getaway, Cambridge for a tour of the iconic Harvard campus, or Boston to catch a Red Sox game at Fenway Park, all drivers in the Old Bay State must have an active car insurance policy that meets the legal minimum requirements in the state. With all the exciting things to do and see in Massachusetts, it’s no surprise that Old Bayers love to save a buck wherever they can. 

Finding the best policy for your needs and budget can be tough, but not when you have a few tricks up your sleeve. Keep reading to find out how you can save on your Massachusetts auto insurance policy so you can spend your savings on something much more fun, like a trip to the Isabella Stewart Gardner Museum.

Car insurance in Massachusetts varies from person to person, insurer to insurer, and policy to policy, as premiums vary based on various factors. Typically, the cheapest policy will be a minimum coverage one. However, the most affordable premiums may only be available to a select few people, especially those with a clean driving record. Let’s look at how you can lower your premiums to get rates even below the state average.

In Massachusetts, the average full coverage policy costs about $1,330 annually, or about 20% below the national average of $1,670 annually. However, the cheapest policy available in the Old Bay State is a policy that meets the minimum coverage limits but doesn’t exceed them. The legal minimum coverage limit in Massachusetts is $20,000 in bodily injury liability per person, $40,000 in bodily injury liability per accident, $5,000 in property damage liability per accident (20/40/5 liability coverage), $20,000 in uninsured motorist bodily injury coverage per person, $40,000 in uninsured motorist bodily injury liability coverage per accident (20/40 UMBI), and $8,000 in personal injury protection (PIP) per person per accident. 

Those who finance or lease their vehicles may be required to carry a full coverage policy with collision and comprehensive coverages as part of their legally binding contract with the lending or leasing company. 

A minimum coverage policy typically has about half the coverage of a full coverage policy, so they’re typically about half the cost. On average, a minimum coverage policy in the Old Bay State costs about $665 annually in premiums. However, it’s crucial to note that with half the cost comes half the coverage. Depending on the driver and what one values in a policy, a minimum coverage policy may not be the best choice. 

Whether you’re looking for low income car insurance in Massachusetts or have your sights set on the best deal you can get, premiums often vary based on the insurer. Many insurers in the Old Bay State offer lower-than-average base rates and plenty of discounts policyholders can stack on their policies to further reduce their premiums. Some of the lowest rates in the state can be found through Geico, State Farm, or Progressive. 

Binding a policy with one of the top insurers in the Old Bay State can help you get excellent coverage at a fair price. If you can’t bind a policy with one o the top insurers in the state, you may need to search for a non-standard insurer specializing in high-risk insurance. Typically, those who struggle to bind policies with standard insurers have been charged with driving uninsured or previously filed for an SR-22 form. Standard insurers are wary of binding policies with drivers with poor driving records or insurance histories and often charge them double or triple the average rate in premiums. 

The companies with the best car insurance rates in Massachusetts are State Farm, Geico, Progressive, Allstate, and Travelers. Many local insurers specific to the Old Bay State or the New England area also offer competitively low rates for excellent coverage. 

While these insurers offer competitively low base rates, they also offer a variety of discounts policyholders can stack onto their premiums to lower their payments even further. If you’re getting quotes from any of the mentioned insurers that are far more expensive than the average annual premium in the state, you may have a few things working against you, raising your premiums. Let’s take a look at how insurers determine premiums and what that could mean for your wallet.

The lowest auto insurance rates in Massachusetts may not be available to everyone, as premiums are highly subjective to the driver, insurer, and policy. Insurers pay different rates, determined by the unique traits each driver possesses. Insurers often use basic facts about the policyholder and factors correlating with one’s driving history to determine rates. 

Insurers use factors that will help them determine a driver’s risk of getting into an accident and filing a claim. If a driver has specific characteristics that put them at a high risk of filing a claim, like having a history of at-fault accidents or driving without insurance, insurers may consider them high-risk. Insurers often translate a driver’s risk of filing a claim into higher premiums. So, if a driver is at high risk of filing a claim, they’ll likely pay higher premiums. 

While insurers typically use one’s driving record and insurance history as the most significant determinant of one’s premiums, they may also use non-driving factors. Certain non-driving factors like age, gender, or ZIP code, among several other factors, can help insurers determine one’s risk based on statistics associated with such factors. For example, drivers in densely populated cities are likelier to get into accidents and file claims. Thus, those in ZIP codes with high populations generally pay higher premiums. 

While some of these unique characteristics may be working against you to lower your premiums, all hope in terms of savings isn’t lost quite yet. There are still a few ways high-risk drivers can lower their premiums, even without sacrificing coverage. 

The cheapest insurance in Massachusetts is a minimum coverage policy with 20/40/5 liability coverage, 20/40 UMBI coverage, and $8,000 of PIP per person per accident. On average, this policy may cost about $665 annually. However, a minimum coverage policy doesn’t offer an expansive range of protection. Instead, many Old Bayers interested in savings but want to maintain excellent coverage opt to carry full coverage policies from insurers that offer low base rates and plenty of discounts. 

When discounts are stacked and applied to one’s premiums, the price of a full coverage policy becomes much less shocking. Many insurers, especially those highly reputable with a nationwide standing, offer plenty of discounts for policyholders to combine to lower their premiums. Many insurers offer two types of discounts: criteria-based and enrollment-based. Criteria-based discounts require policyholders to passively meet a few standards, whereas enrollment-based discounts require policyholders to take an active role in their savings. 

Some insurers offer criteria-based discounts such as a student discount, a multi-car discount for those with multiple cars insured on the same policy, or a discount for policyholders who bundle home and auto insurance with the same insurer. 

These days, many insurers offer enrollment-based discount programs that offer more significant savings to policyholders but require a bit more of a commitment. For example, some insurers off good driving classes in which drivers can participate for a chance to earn up to 20% off their premiums upon receiving a passing grade. Other insurers offer a usage-based telematics program in which drivers consent to tracking and sharing their driving data with their insurers to earn savings when they make good choices behind the wheel, like going the speed limit or gradually pressing the brakes when stopping. 

Stacking discounts is the best way to have the excellent coverage that comes with a full coverage policy for a fraction of the cost. While the premiums associated with a full coverage policy may never reach the level of savings one may find with a minimum coverage policy, an investment in one’s safety is never a poor choice. 

The best cheap car insurance in Massachusetts for many residents is a minimum coverage policy with 20/40/5 liability coverage, 20/40 UMBI coverage, and $8,000 in PIP per person per accident. While Massachusetts’s minimum coverage policy offers other coverages besides liability, though it’s often colloquially referred to as a liability-only policy. 

Since Massachusetts is a no-fault state, all drivers must carry PIP, one of the most common no-fault coverages. While a minimum coverage policy in the Old Bay State contains more coverage than minimum policies in other states, the coverage may still leave significant gaps where the policyholder could risk financial ruin.

It’s tempting to forgo coverage in the name of savings, but it’s often not worth the risk. One at-fault accident with minimum coverage could cost you thousands in medical expenses and vehicle repairs, which would otherwise be covered with a full coverage policy. A full coverage policy can be costly but far easier to budget for than a catastrophic accident. 

If you’re searching for the best deal on auto insurance in Massachusetts, the best way to see all your options is to get and compare quotes online. Getting and comparing quotes online allows drivers to view and analyze all the policies for which they’re eligible so they can make the most informed decision on a policy that meets their needs.

Luckily, you’ve come to the right place for quotes. Here at Clovered, we have a free quoting tool you can use to get quotes unique to you in minutes. If you prefer to speak with a professional about your quotes, you can contact one of our licensed agents at 833-255-4117 or [email protected].