Car insurance in Massachusetts costs $47 monthly ($565 per year) for minimum coverage, on average, and around $163 per month ($1,959 annually) for a full-coverage policy. The cheapest insurance companies in Massachusetts are Chubb, The Hanover, and Plymouth Rock, but insurers calculate premiums differently, so it’s a good idea to get quotes from more companies to find the best deal.… read full answer
Average Cost of Car Insurance in Massachusetts by Category
Clean driving record: $48 per month
After an at-fault accident: $81 per month
Teen driver: $172 per month
After a DUI: $94 per month
The average cost of car insurance in Massachusetts is 22% lower than the national average auto insurance premium, and Massachusetts ranks 21 out of 50 for the most affordable car insurance rates in the U.S.. There are several factors that affect how much you’ll pay for car insurance in Massachusetts, including your driving record, age, location, the amount of coverage that you purchase, and the insurance company you buy it from.
Finally, it’s worth noting that car insurance premiums in Massachusetts are low, compared to the cost of coverage in neighboring states like Connecticut and Rhode Island. You can find more details in the table below.
Cost of Car Insurance in Massachusetts vs. Neighboring States
Full coverage insurance costs $1,997 per year or $166 per month, on average. Full coverage car insurance is more expensive than the legal minimum auto insurance coverage because full coverage usually includes collision and comprehensive insurance as well as the minimum coverage required by a state.
The cost of full coverage car insurance varies based on the state, the driver’s chosen coverage limits, the driver’s risk factors, and the vehicle’s value. Additionally, … read full answercomprehensive and collision insurance are subject to a deductible, and drivers can select a higher deductible in return for a lower premium. Drivers can also minimize the cost of full coverage car insurance by comparing rates and checking for discounts.
Full coverage insurance in Massachusetts is usually defined as a policy that provides more than the state’s minimum liability coverage, which is 20000 in bodily injury coverage per person, up to 40000 per accident, and 5000 in property damage coverage. Full coverage in Massachusetts also includes optional collision and comprehensive insurance… read full answer. As a result, full coverage insurance costs an average of $1,335 per year in Massachusetts, while a state minimum policy costs $550.
If you can’t afford to repair or replace your car after an accident, collision and comprehensive are important coverage types—even if they’re not required. Collision insurance covers repair or replacement costs if you are in an accident, drive into an object, or flip your car. Comprehensive insurance covers repair or replacement costs if your car is damaged by falling objects, natural disasters, floods, fires, theft, vandalism, or animals. Full coverage insurance costs an average of $1,335 per year in Massachusetts, while a state minimum policy costs $550. Lenders usually require collision and comprehensive in addition to the insurance you must have under Massachusetts law when you finance a car.
Most people should also choose higher liability coverage limits than what is required by Massachusetts law. If you cause an accident and your liability limits don’t cover the whole bill, you are still personally responsible for the rest. In the end, “full coverage” means having the right amount of coverage to protect your assets in a worst-case scenario.
WalletHub Answers is a free service that helps consumers access financial information. Information on WalletHub Answers is provided “as is” and should not be considered financial, legal or investment advice. WalletHub is not a financial advisor, law firm, “lawyer referral service,” or a substitute for a financial advisor, attorney, or law firm. You may want to hire a professional before making any decision. WalletHub does not endorse any particular contributors and cannot guarantee the quality or reliability of any information posted. The helpfulness of a financial advisor's answer is not indicative of future advisor performance.
WalletHub members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our content guidelines. This question was posted by WalletHub.
Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not a financial institution’s responsibility to ensure all posts and questions are answered.
Ad Disclosure: Certain offers that appear on this site originate from paying advertisers, and this will be noted on an offer’s details page using the designation "Sponsored", where applicable. Advertising may impact how and where products appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.