MA Residents Face Agony In Shelling Out More $$ For A Necessary Expense
There are reports of automobile increases rates going up 10, 20, and even 40 percent over the past couple of months in Western Massachusetts with no claims or any moving violations driving up the cost. The question is: Why is this happening? Inquiring minds would like to know, present company included.
According to a recent report on 22News (WWLP-TV) it seems like supply chain issues with parts and microchips, severe weather, and an increase of insurance claims due to a deluges of crashes that were reported in the past months Statistics show The National Highway Traffic Safety Administration, reported over 42,000 traffic deaths nationwide in 2022. These numbers are alarming!
Another factor taken into consideration is in this world of modern technology vehicles with so-called "bells and whistles" have made a dent in replacing parts. for example, a simple bumper replacement and repair including sensors has jumped in price. What used to cost between $1,500 and $2,000, has now skyrocketed to $3,000 to $3,500. I can best describe this a la Crazy Eddie: "These prices are INSANE" and I'm not saying this on a positive note where consumers are NOT saving any money.
Something else that determines what you pay is where you live. A bill is being considered by state lawmakers in Boston would change the formula so it doesn’t weigh your zip code as heavily when determining your rate. In other words "Location, Location, Location". Urban areas will see more of an uptick than rural parts of the state (The Berkshires are included in the category of non-urban, so what does this mean for local residents? You might want to check with your insurance provider for more details in this matter)
We now approach the million dollar question: How can you save on car insurance? Here are a few suggestions: A higher deductible will drop the price, but in the long run, you are responsible for a portion of that car repair before the claim is filed. You can bundle home and auto which shaves off extra cost plus pay your annual premium upfront instead of monthly (Start saving if you elect to pursue this option). But, the best thing to do is just drive safely. Plain common sense will benefit in the long run.
BOTTOM LINE: Automobile insurance companies are looking at six to nine-percent rate increases for this coming year. just another example of skyrocketing prices where consumers can't catch a break in this "so-called" 21st century. My thought is to ask "His Royal Highness" Prince to take me back in time: "1999" to be exact as the insanity was nor prevalent in the beloved 20th century. These days, things are just out of control and since we all need to drive on a daily basis, we're stuck in this precarious predicament.
(Some information in this article courtesy of 22News (WWLP-TV) https://www.wwlp.com/news/i-team/massachusetts-car-insurance-rates-increasing-ways-to-save/)
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