Even the best drivers can sometimes get into accidents, and that’s why vehicle owners in Wakefield, MA, are required to have car insurance. From fender benders on North Avenue to serious collisions on I-95, a solid auto insurance policy can shield you from large, accident-related, financial losses.
Independent agents make finding the best car insurance policy easy and stress-free. These agents can provide you with a variety of customized auto insurance quotes so you can be sure you are getting a great policy at a competitive price. Find an insurance agent in Wakefield to learn more.
How Much Does Car Insurance Cost in Wakefield, MA?
The average cost of car insurance in Massachusetts is higher than the national average. This makes taking the time to request and compare rates from competing insurance companies all the more beneficial. Doing so has the potential to save you hundreds of dollars a year.
- National average annual car insurance cost: $1,311
- Massachusetts average annual car insurance cost: $1,460
Of course, car insurance rates can vary significantly from one driver to the next, so the figures listed above only offer a general idea of what your actual costs might be. Insurance companies will base your rates on a number of different factors such as:
- The make, model, and year of the vehicle(s) you are insuring
- Your age, occupation, driving record, claims history, and credit score
- Whether you own or rent your home
- The approximate number of miles you drive each year
- Which, if any, coverage options you include in your policy
- How much coverage you are purchasing and the amount of your deductible
- The accident and auto theft rates in the vicinity of your home
You are likely to get much lower rates if you have a long, safe driving record. You can also get policy discounts if you bundle your coverage with another policy like homeowners insurance or renters insurance.
Independent insurance agents can make sure that you get any discounts you are entitled to and that the policy you purchase is offered at a competitive price.
What Are Massachusetts’s Minimum Car Insurance Requirements?
If you cause a collision, you are responsible for covering any medical expenses and property damage you cause to others. Liability insurance is designed to cover these costs.
Massachusetts is a no-fault state, so the other driver’s personal injury protection (PIP) insurance will cover their medical bills to a certain point before your responsibilities kick in.
This state also requires you to carry uninsured motorist insurance to cover medical bills if an uninsured, under-insured, or hit-and-run driver causes a collision with your vehicle and the costs exceed what your PIP can cover.
In Massachusetts, your car insurance must include, at a minimum, the following amounts of coverage:
- Bodily injury liability insurance: $20,000 per person/$40,000 per accident
- Property damage liability insurance: $5,000 per accident
- Uninsured motorist insurance: $20,000 per person/$40,000 per accident
- Personal injury protection (PIP) insurance: $8,000 per accident
If you are responsible for an accident and your liability coverage is not high enough to fully cover your financial responsibilities, you will be expected to make up the difference out of pocket. That is why many Wakefield residents opt to purchase higher liability limits than the state requires.
If you want to have even more liability coverage than your Wakefield car insurance policy will allow, you can also purchase umbrella insurance. This is an affordable way to significantly increase all of your liability coverage. Talk to a local insurance agent to learn more.
What Else Can Wakefield Car insurance Cover?
In addition to the required coverage listed above, your car insurance company will offer a number of coverage options including:
- Collision insurance: This pays for the cost to repair collision-related damages to your vehicle, regardless of fault. This may be required by your lender if you are still paying for your car or by the dealership if you have the vehicle on a lease.
- Comprehensive insurance: This covers the cost to repair non-collision damages to your vehicle. This may be required by your lender if you are still paying for your car or by the dealership if you have the vehicle on a lease.
- Towing and roadside assistance insurance: This can pay for the costs associated with receiving assistance if your vehicle breaks down while you are out on the road.
- Rental car reimbursement insurance: This can pay for you to get a rental car while your car is in the garage being repaired following a covered event.
- Gap insurance: This bridges the gap between what your car is worth and what you still owe for it in the event it is totaled. This usually very beneficial during the first few years of new car ownership because new cars depreciate in value quickly.
Talk to your local insurance agent to learn more about your various coverage options and to find out how much each will cost to add to your policy.
What Is the Penalty for Driving without Insurance in Wakefield?
If you are caught driving without insurance in Massachusetts, you will be charged with a civil motor vehicle infraction (CMVI). This comes with some pretty harsh penalties. For example, you can find yourself facing:
- Fines ranging from $500 to $5,000
- The loss of your driver’s license for up to one year
- A fee of $500 to be paid to the state’s assigned risk plan (MAIP)
- Incarceration for up to one year
In other words, driving without insurance is just not worth the risk. Even so, approximately 6.2% of all drivers in this state are uninsured. This is about half the national average rate of 13%. That is why uninsured motorist insurance is so important.
Because this state requires you to have this coverage, you can rest assured that if you sustain injuries in an accident with an uninsured, underinsured, or hit-and-run driver, you will have the coverage you need to pay for your medical treatments.
Does Wakefield Car Insurance Cover Auto Thefts?
The good news is that the auto theft rate in Massachusetts is lower than the national average; and in Wakefield, the rate is even lower. This is not to say that the risk does not exist. Residents of this city report about 10 auto thefts a year.
- National auto theft rate per 1,000 vehicles: 2.28
- Massachusetts auto theft rate per 1,000 vehicles: 0.96
- Wakefield auto theft rate per 1,000 vehicles: 0.29
You should be aware that your car insurance will not reimburse you following an auto theft unless you have included comprehensive coverage in your policy.
Comprehensive insurance covers far more than just vehicular theft. It can also cover other non-collision damages such as those caused by hazards like floods, fallen trees, garage fires, and hail.
If you are leasing your car or are still paying on your auto loan, you probably already have this coverage. If not, talk to an independent insurance agent near you to learn how much it will cost you to include comprehensive insurance in your auto insurance policy.
Why Work with an Independent Insurance Agent in Wakefield, MA?
As a vehicle owner in Wakefield, you can turn to a local independent insurance agent for help when you are looking for a car insurance policy that meets your coverage and budgetary needs.
These agents are free to work with several different insurance companies so they can obtain a variety of customized car insurance quotes that you can review together. Contact an insurance agent with an office in Wakefield to get started.
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