Why are there not many big auto insurance companies operating in Massachusetts?

Why are there not many big auto insurance companies operating in Massachusetts?

I moved from NY and need to find an auto insurance company. AllState and State Farm are not doing business here. I don'-t want Geico or Mutual Liberty because of bad experience with them. Are the small local businesses reliable? Thank you.

mbrcatz

Until a year or so ago, the auto insurance rates in Massachusetts were set by the state, and insurance companies were NOT allowed to refuse to write a policy for someone. The insurance companies were losing a ton of money in Massachusetts, and most pulled out decades ago. As of a few years ago, there were maybe SEVEN auto insurance companies writing in the state.So, recent regulations have "opened" the market for pricing, so that insurance companies could charge their own rates. But most carriers have no faith, that Massachusetts won't go back to the old way - making them sell insurance for way under the cost of claims - so aren't going to go back into MA any time soon.There are several small regional carriers in MA that do a great job - Amica, Hanover, Commerce, etc. You should probably talk to a local agent, who can give you multiple quotes at once.Source(s):Former MA Agent

Mushu

Allstate now does business in MA. I work for a competitor and just handled a claim for one of our insureds who was involved in an accident with a MA Allstate customer.

FBI

Mass. has strange insurance regulations and only allows "managed competition" hence many companies don't want to do business there. Amica is big, as is Liberty Mutual (I hate them too).

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