Boston Car Insurance (MA)

Boston, Massachusetts has a population of 559,034 and the four million driving residents currently pay an average auto insurance premium of $1,134.

In 2007 and 2008, the car insurance rates are predicted to drop by about $117 per vehicle, which should make the average premium in Boston around $900 per year. Saving money on car insurance in Boston is extremely helpful as the cost of living in Boston is considered fairly high. The average gas price in the city is about $2.93 per gallon, and average apartment rents are 240% above the national average, with a typical two bedroom rental averaging $1900 per month.

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Car Insurance Requirements in Boston, MA

Massachusetts is the only state in the United States where insurance regulators actually set all auto insurance rates. Nonnie S. Burnes, the Insurance Commissioner, is proposing that insurers should set their own auto insurance rates- subject to state approval. Most insurance companies who support this proposal believe the car insurance rates would drop considerably if they are given the ability to set their own auto insurance premiums.

Ways to Save on Boston Car Insurance

Factors affecting auto insurance premiums in Boston include the individual's driving record, where they live, their driving experience and how much coverage the driver wants on their vehicle. Additionally, there are numerous areas within Boston where crime rates are high, vandalism and theft risk is through the roof and the people are struggling to make ends meet. In these areas where the population is mostly urban and young, the state actually lowers the amount of auto insurance premiums they pay so that they can afford to carry insurance, to the extent of about $400 less than the rest of Boston's residents. The subsidized insurance rates are a constant area of frustration for the residents of Boston as the lower risk drivers do not want to be paying higher insurance premiums to help cover the costs for the high-risk drivers.

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