Barbara Anthony, Undersecretary of the Office of Consumer Affairs and Business Regulation
Our Office recently did an informal online survey regarding auto insurance that drew 232 respondents, and it showed again that shopping around for a policy can save consumers money on their coverage.
The survey found that more than 60 percent of respondents saved money on their car insurance. Twenty-seven percent of the respondents saved more than $300. That means more than two out of every five people saving money saved more than $300. That is a pretty good outcome.
We also found, as we have heard from consumers for some time, that more than half of the respondents increased their coverage. We have seen evidence that consumers are putting some or all of their savings back into their policies in the form of increased coverage. This is also good news for consumers.
Our switch to managed competition is just over two years old, but the reforms by the Patrick-Murray Administration are paying off. Since the start of 2008, we estimate drivers have saved more than $477 million on their car insurance policies. That’s a lot of money. Twelve new companies have entered Massachusetts (we had 19 when managed competition started), which means we now have 31 companies competing for consumers’ business. That competition has led to lower rates, more discounts, and more benefits for many drivers.
To reap the full benefits of the changes, however, consumers need to shop. A good place to start is the Division of Insurance’s auto rates comparison website.
Purchasing a USED car? Here’s what the Lemon Law means for you. posted on Feb 13
President’s Day is this Monday, and many consumers may be looking to purchase or lease new and used cars. This two part series on car purchasing and leasing will provide tips on how you can get the right car and be protected under the Lemon …Continue Reading Purchasing a USED car? Here’s what the Lemon Law means for you.
Purchasing or leasing a NEW car? Here’s what the Lemon Law means for you. posted on Feb 12
With President’s Day fast approaching, many consumers are looking to purchase or lease new and used cars. This two part series on car purchasing and leasing will provide tips on how you can get the right car and be protected under the Lemon Law. Before you …Continue Reading Purchasing or leasing a NEW car? Here’s what the Lemon Law means for you.
Survey Says: Lemon Law Compliance on the Rise posted on Dec 29
The Massachusetts Lemon Laws provide legal relief to consumers who are sold a new, used, or leased vehicle that has a significant defect to its safety or use. Under these laws, car dealerships are required to place a bright yellow Lemon Law sticker on each …Continue Reading Survey Says: Lemon Law Compliance on the Rise