Rate Comparison with Other States

    Posted by MAIA on Jul 3, 2019 12:01:00 AM

    QUESTION

    This question was answered based upon current rules, regulations & statutes in effect on May 17, 2019

    How can I get any date regarding rates by coverage in comparison to other state for auto?

    For instance, I’d love to know where our collision, PD and comp rates are vs. all other states – I understand the data would be an average.

    It would be also super to have comparison on BI, UM & UIM as well as the other coverages.

    I was able to find some data on homeowners rates but am stuck on auto rates.

    Thank you

    ANSWER

    Kathy Cormier:  I’m not sure where you could find this type of comparison...Maybe the Insurance Library in Boston...617-227-2087.

    I do have this resource Insurance Information Institute that shows what states require for compulsory coverages, but nothing for a rate:  https://www.iii.org/article/background-on-compulsory-auto-uninsured-motorists

    I was looking around this site and they have a lot of statistical data, but I’m not seeing a rate comparison.

    I hope this helps.

     

    This document is not a legal opinion and should not be relied upon as such. The intent of this document is to provide a general background regarding the topic or topics discussed, not to provide legal advice. Producers and agencies should consult an attorney regarding specific situations and specific questions with respect to the topic or topics covered in this document. Neither the Massachusetts Association of Insurance Agents, Number One Insurance Agency nor any of its employees shall be responsible for any errors or omissions regarding any statements made in this document, nor any errors or omissions regarding any statutes, regulations, court rules, and/or any other government documents cited in this document.

    Topics: 2018

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