Vehicle owners in Melrose are required to have car insurance. From fender benders on Main Street to serious collisions on the Frank P. Bennett Highway, a solid auto insurance policy can prevent you from facing large financial losses as the result of an accident.
Finding the best and most affordable car insurance is easy when you work with an independent insurance agent in Melrose. These agents can help you obtain and compare customized car insurance quotes from a variety of reliable insurers. Contact an insurance agent near you to get started.
How Much Does Car Insurance Cost in Melrose, MA?
The average cost of car insurance in Massachusetts is slightly higher than the national average. Comparing rates from a variety of insurance companies enables you to get your policy at the lowest possible price.
- National average annual car insurance cost: $1,311
- Massachusetts average annual car insurance cost: $1,460
Keep in mind that these averages can only give you a general idea of what you might actually be expected to pay. Car insurance costs vary from one driver to the next because they are based on several specific factors. Your costs can be affected by such things as:
- The make, model, and year of every vehicle you are insuring
- Your age, occupation, marital status, and driving record
- Your claims history and credit score
- Information about the other licensed drivers in your household
- Whether you own or rent your home
- The amount of coverage you are purchasing
- The size of your deductible
You can typically get rate reductions if you bundle your car insurance with other policies like homeowners insurance or renters insurance. Many insurance companies also offer other money-saving benefits like good student discounts and safe driver discounts.
Contact an independent agent in Melrose to learn more about these and other potential discounts and to easily review customized quotes from a variety of highly-rated insurers.
What Are the Minimum Car Insurance Requirements in Massachusetts?
Every state has its own coverage requirements when it comes to auto insurance. In Massachusetts, all car insurance policies must include:
- Liability insurance: This is designed to cover other people’s medical bills and damage if you cause an accident. Your policy must have a minimum of:
- Bodily injury liability insurance: $20,000 per person/$40,000 per accident
- Property damage liability insurance: $5,000 per accident
- Personal injury protection (PIP) insurance: This is designed to cover your own medical bills for injuries sustained in an accident, regardless of fault. Your policy must have a minimum of $8,000 of coverage.
- Uninsured motorist insurance: This is designed to cover medical bills that exceed your PIP coverage in the event that you are in an accident caused by an uninsured, underinsured, or hit-and-run driver. Your policy must include bodily injury coverage of at least $20,000 per person and $40,000 per accident.
Many Melrose drivers opt to purchase car insurance that has higher-than-required liability limits. Some residents of this city also purchase umbrella insurance in order to get even more liability coverage than their auto insurance policy can provide.
Your local insurance agent can help you find the coverage you need at price you can afford.
What Else Can Melrose Car Insurance Cover?
In addition to the mandatory liability coverage mentioned above, your car insurance provider will also offer a variety of coverage options that you may want to include in your Melrose auto insurance policy. These options include:
- Collision insurance: This is designed to cover the cost to repair or replace your vehicle if it is damaged or totaled in a collision, even if the accident was your fault. This coverage is typically required by lenders if you are still paying for your vehicle and by dealerships if you are leasing it.
- Comprehensive insurance: This is designed to cover the cost to repair or replace your vehicle if it is damaged or totaled due to a non-collision event. This coverage is also typically required by lenders if you are still paying for your vehicle or by dealerships if you are leasing it.
- Roadside assistance and towing: This is designed to cover the costs of assistance if your car becomes disabled while you are away from home, such as if you get a flat tire or run out of gas.
- Gap insurance: This is designed to cover the gap between what your car is worth and what you currently owe for it in the event that it is totaled. New cars depreciate quickly, so this coverage may be particularly valuable during the first year or two of new-car ownership.
- Rental car reimbursement: This is designed to cover the cost of renting a vehicle while your car is being repaired following a covered event.
Talk to your local insurance agent for help determining which, if any, of these coverage options is a good fit for you.
What Is the Penalty for Driving without Insurance in Melrose?
Driving without insurance in Massachusetts is illegal, and when it comes to enforcement, this state isn’t playing around. If caught, you will be charged with a civil motor vehicle infraction (CMVI). Penalties you will face as result can include:
- A fine ranging from $500 to $5,000
- The loss of your driver’s license for 60 days to one year
- A fee of $500 to be paid to the state’s assigned risk plan (MAIP)
- Incarceration for up to one year
Because of these harsh penalties, this state has one of the lowest rates of uninsured drivers in the country:
- Percentage of US drivers who are uninsured: 12.6%
- Percentage of Massachusetts drivers who are uninsured: 6.2%
Even so, the state requires all drivers to carry uninsured motorist insurance. That way, if you are in a collision caused by an uninsured driver, you can you receive timely compensation without the need to take legal action against the at-fault driver.
After compensating you, your insurance company will try to collect the money owed from the at-fault driver, and will absorb the losses if unsuccessful.
Does Melrose Car Insurance Cover against Auto Theft?
The auto theft rate in the state of Massachusetts is lower than the national rate, and in Melrose, the rate is even lower. This is not to say the risk does not exist. Residents of this city report about 12 stolen cars every year.
- National auto theft rate per 1,000 vehicles: 2.94
- Massachusetts auto theft rate per 1,000 vehicles: 1.18
- Melrose auto theft rate per 1,000 vehicles: 0.32
You can only get compensation for a stolen vehicle if your car insurance policy includes comprehensive (or “other than collision”) coverage.
Comprehensive insurance covers more than just auto thefts. It can also reimburse you for repair costs if your car is damaged in another non-collision event like a flood, fallen tree, or hailstorm.
Talk to an independent insurance agent to find out how much it will cost you to include comprehensive coverage in your Melrose car insurance policy.
Why Let an Independent Insurance Agent in Melrose Help You?
You can ask a local independent agent for help when you are looking for the best auto insurance policy to meet your coverage and budgetary needs. These agents work for you, not for a particular insurance company, so they can shop around to find you the coverage you want at a price you can afford.
Contact an insurance agent in or near Melrose to get answers to your insurance-related questions and to start comparing customized car insurance quotes.
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