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State's Auto Insurance Shift Takes Effect Today

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Apr 1, 2008 9:14 am US/Eastern

State's Auto Insurance Shift Takes Effect Today

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BOSTON (AP) ― The push in Massachusetts to open the auto insurance market to more competition takes effect today.

Massachusetts had been the last state in the country where regulators set a single insurance rate.

That changed when Gov. Deval Patrick pushed through new rules to bring what he called "managed competition" into the market. He has said the changes could save drivers 10 percent or more on auto insurance rates.

Car owners looking for new policies -- or hoping to renew existing policies -- can now shop around for the best rates.

Companies already have filed their rates with the state, and the changes have drawn at least one new large insurer to Massachusetts.

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