Auto

This is a discount offered if a customer is loyal to their insurance company.  Loyalty in this case is can mean how long you have been with the same insurer and in some cases how long you have been with the same agent. The rules and amount of the discount is usually percentage of your premium or a factor built into you rate.

So your policy is going to renew in a couple weeks and you figured you will wait until the week of your renewal to shop around.  You could do that but, if you actually start shipping within those couple weeks before you could save 2% to 5% on your new policy.  An Early shopper discount offers savings to those who shop ahead of time. The idea is that by demonstrating you are a person who plans and thinks ahead, chances are you’ll be a lower risk and probably a better payor. The discount is generally given to those who buy the policy 7 days before the actual policy starts.  

Some companies even offer a New Car discount.  It gives a discount to clients who own cars that are newer than 4 years old.

If you have a college student who normally lives at your household, but is a living on campus more than 100 miles away. You would be eligible for up to 10% off of your auto insurance. Generally the vehicle must remain at home, the discount is given to the young driver because the vehicle is only available to them when they come home to visit.

If you or anyone in your household has taken an In-control driver training course you are eligible for a discount up to 10%.

Anyone who has more than one vehicle insured in their household with the same insurer is eligible for a multi car discount.  Some could even be up to 8%.  The cars do not have to be on the same policy.

Many carriers offer good Payer credits.  You may not see it as an exact percentage.  It is usually factored into your rate.  If you consistently pay on time and are never in cancellation you could be getting the credit. Some insurers do actually offer as much as 5 percent off just for paying on time, If you on automatic payments you’ll always be on time and getting the discount.

There are different rate classes for different drivers.  A new driver has a much higher premium because they are inexperienced. After the first 3 years driving your premium will go down significantly. The next drop is after 6 years you will officially be rated as an experienced operator. As time goes on you will continue to be rated favorably as you gain more years of experience. For example, I have 15 years behind the wheel. If all other factors are equal except you have 25 years of experience, generally you would get a better rate. The final price break is once you turn 65.  

This coverage is mandated by the state of Massachusetts and provides coverage to parties you injure in at fault accidents. You are required to carry $20,000 per person/$40,000 per accident. It is important to know while some online insurance quotes provide the option to buy more compulsory bodily injury coverage you will only be covered if the incident occurs in the state of Massachusetts. It also does not provide legal defense. It is much better to buy more optional bodily injury coverage.

This coverage can pay for injuries to you and your passengers when there is an accident and the other driver is both legally responsible for the accident and considered “uninsured.” An uninsured driver is someone who did not have any insurance, had insurance that did not meet state-mandated minimum liability requirements or whose insurance company denied their claim or was not financially able to pay it. Additionally, a hit-and-run driver, or stolen vehicle counts as uninsured as it relates to bodily injury. While state laws generally require all drivers to carry at least a minimal amount of liability insurance before they can operate a vehicle, not all drivers actually comply, or else they may only purchase enough insurance coverage to meet a minimal standard. Drivers who want to protect themselves financially from an encounter with an uninsured or underinsured motorist may want to consider adding underinsured motorist coverage to their existing insurance package.

often bundled together with uninsured motorist coverage, is designed to cover the difference between the at-fault driver’s maximum pay-out and the actual cost of medical bills incurred by the not at fault driver. For example, if an underinsured driver’s liability insurance only pays a maximum of $20,000, and as a result of the injuries you have you need another $10,000, your underinsured motorist coverage could pay the additional $10,000.

Covers medical expenses and, in some cases, lost wagesand replacement services. PIP is sometimes referred to as “no-fault” coverage, because the statutes enacting it are generally known as no-fault laws, and PIP is designed to be paid without regard to “fault.” In Massachusetts PIP is considered a right, not an option. PIP is a mandatory coverage on your Massachusetts auto insurance. PIP coverage may vary from state to state in terms of both what is covered and what types of treatments are considered customary and reasonable.

Pays for the damages you caused to the property of others. This includes vehicles, buildings, and other property NOT OWNED BY YOU. This coverage also includes labor and parts costs associated with car repair and repairs to stationary objects you may hit (a neighbor’s mailbox, a tree, telephone pole, guard rail, etc.).

Pays for the medical expenses you and your passengers incur in a car accident, whether or not it was your fault. This is similar to personal injury protection and is often purchased as a supplement to PIP. It also covers the medical costs of pedestrians that you may injure. It does not, however, cover any property damages that occurred in the accident, for either party. Since your Massachusetts auto insurance limits PIP to only $8,000 per person, it’s recommended that you add medical payments coverage to your policy. A limit of $25,000 per person is generally very inexpensive and easily obtained from most insurance carriers. Higher limits are also available from some insurance companies; call us at 1-800-698-0414 for more information.

Bodily injury liability insurance that covers you in the event that you cause an accident that injures someone else. Your Massachusetts auto insurance can cover the medical costs of any physical injury incurred by passengers in your car and other cars after an accident for which you are responsible. It also covers the legal costs that you may incur when you cause an accident. Unlike compulsory bodily injury, there is no restriction to Massachusetts; it will cover you in the continental U.S., U.S. territories, and Canada. It is recommended when traveling out of state that you bring a copy of your insurance policy with you, especially if you plan on driving a vehicle once out of state. Bodily injury liability coverage conforms to the laws of whatever state you’re in at the time of an accident. So if your policy is for $50,000 per person and you’re in a state that requires $100,000 per person, you will automatically have $100,000 per person while in that state.

Pays the cost of damages to your vehicle that occurs because of an accident you cause. If it was someone else’s fault, then their insurance will cover the cost of your repairs. This coverage will also pay for repairs to your vehicle in a hit and run accident; you will, however, have to pay your deductible.

Pays the cost to repair non-collision damage to your vehicle. Damage caused by natural disasters, fire, robbery, theft, vandalism, earthquakes and floods are just a few of the causes that are covered by comprehensive insurance. Generally glass coverage is built into comprehensive but with no deductible. Some online insurance quotes will have as much as a $100 glass deductible, which means if you need glass to be replaced, you will have to cover the first $100 of the repair – but you’ll find most independent insurance agents will not add this option onto your policy, ensuring you won’t need to pay the $100 deductible.

This coverage pays the cost of a rental car while your car is being repaired from a covered collision or comprehensive claim. IT DOES NOT provide a rental when your vehicle is just having mechanical work done unless that work was part of the repair from a covered claim. The coverage has a pre-determined limit and applies for a pre-determined amount of time. Rental reimbursement is considered an “additional coverage” item for your car insurance policy. It is rare for someone to purchase this policy without purchasing collision and comprehensive coverage.

Accident Forgiveness: Waives the surcharge on your Massachusetts auto insurance policy after your first at-fault accident. Considering a surcharge could raise your premium by hundreds of dollars, this can be a significant savings if you have an accident. Most insurance companies charge a small fee to add it your policy, but considering how costly a surcharge can be, it may be well worth the investment.

This is one of the ways insurers determine the value of an item, such as your vehicle. For an additional charge, Massachusetts insurance can reimburse you the replacement cost if your vehicle were totaled in a loss. Your Massachusetts auto insurance is an actual cash value policy. The difference is replacement cost coverage will pay the cost to buy a new car vs actual cash value will pay the as is value of the car before the accident.

Every auto insurance policy has a deductible of some kind for damage to your vehicle. Disappearing deductible decreases the amount of the deductible over time. Generally for every year you don’t have a claim your deductible is lowered by some amount (generally $50 – $100 but this will vary from one insurer to the next).

Certain insurance providers offer solutions to make things easier for you while your car is being repaired after an accident, such delivery of a rental vehicle, pick up and delivery of your damaged vehicle, or even door-to-door valet service. Contact your independent agent to find out if this service is provided in your coverage should you need it. Loan/Lease Gap Coverage: This is an optional coverage that can be added to your Massachusetts auto insurance policy. If you lease or finance a vehicle and it is stolen or declared a total loss, GAP coverage will cover the difference in the actual cash value of your vehicle at the time of the accident and the amount you owe the finance or lease company. Without GAP coverage, if an accident or theft occurs, you are responsible for covering any remaining balance of your lease or finance contract. Generally, if you put 20% down when you bought your car, you need GAP coverage.

This option provides coverage on your personal effects that are damaged in an accident. A specific limit applies; generally between $250 & $500 is standard. Make sure you keep the damaged items until your insurer has seen them and told you they no longer need them as proof of loss.

If your laptop is damaged in an accident, this coverage will pay the cost to replace your laptop. Generally there is a specific limit – typically somewhere between $500 and $100. If you are interested in adding this to your policy, make sure to review the terms carefully with your independent agent since there are some restrictions as to what is considered accidental damage.