Massachusetts Drivers Seeing Reform Benefits

Massachusetts drivers are now reportedly benefiting from the kind of insurance regulatory reform USAA has supported for many years. USAA members will start seeing auto insurance rate reductions – an average of 15 percent – as the first wave of auto insurance policies begins to renew this month. The reductions are the direct result of efforts by the Massachusetts Division of Insurance to improve the state’s regulatory environment. The regulatory change went into effect last year to allow private insurers to set their own rates for the first time in nearly 30 years. The new system goes into effect April 1, 2008. USAA members with policies renewing in April are reportedly already starting to receive their renewal statements with the new lower rates. Members will see the effects of the rate reductions throughout the year as their annual policies renew.