The deregulation of the automobile insurance market in Massachusetts, USA has delivered an unexpected change welcomed by consumers: a decrease in the ever-rising home insurance prices.
Insurers competing for auto business for the first time in decades are lowering premiums on homeowners’ policies for consumers who buy both types of coverage from the same company. In recent months, some of Massachusetts’ largest insurers, including Arbella Insurance Group, Commerce Insurance Co., Liberty Mutual Group, and Norfolk & Dedham Group, have shaved 3 to 20 percent off homeowner premiums by offering bigger discounts on com bined policies.
Massachusetts Insurance Commissioner Nonnie Burnes said last week that she had hoped, in planning to deregulate the auto insurance system, that it would "force insurers to pay more attention to their homeowner rates." She is pleased with the results so far.
Gregory Donovan, a Quincy real estate lawyer, learned that his auto insurer, Commerce, has offered a discount to customers who moved their homeowner's policies to Commerce.
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