Download the Report.
Dan
Crane, the director of Consumer Affairs and Business Regulation
convened an Auto Insurance Study Group at the request of Governor
Patrick to “identify opportunities within the existing system to
increase competition and reduce costs while maintaining equity.”
The
report filed today is good news for consumers. A few of the key
recommendations include lowering our premiums through reducing our
highest-in-the nation accident rate, delay of the implementation of the
“Assigned Risk Plan” adopted at the end of the Romney administration
but put on hold by the Patrick administration pending review;
maintaining important consumer protections like limitations on rating
factors and some rate flattening; and a re examination of the Safe
Driver Insurance Plan to more accurately or better reward good drivers.
The report also called for an examination on how to move to competitive
rates with built in consumer protections.
The
other good news for drivers is that our auto rates have been dropping –
significantly - and the trend is likely to continue next year. If we
couple this with reducing our accident rate and claims, consumers auto
insurance bills will continue to fall.
Note:
Recent Rate Reductions:
2004-05 -1.69%
2005-06 -8.7%
2006-07 -11.7%
