Today is the due date for MA auto insurers to file their first round of proposed rates with the Division of Insurance for implementation on April 1, 2008. Click here for more details.
Plymouth Rock has informed us that their initial filing consists of "a competitive pricing strategy and enhancements that will complement (their) trademark service features. New products will include, but not be limited to, Replacement Cost coverage, Accident Forgiveness, and a Disappearing Deductible. (They) are also adding discounts for Good Students, Students Away at School and Advanced Driver Training. (They) will share the details of this plan with (us) as soon as it is filed. "
Plymouth Rock has also advised that there will be continuous changes as insurers develop their new plans for the managed competition program and that "it is prudent for customers to adopt a cautious, 'wait and see' approach as prices will be too volatile to solely drive the insurance buying decision."
This is an exciting time for Massachusetts as it steps in to a new era of competitive auto insurance rates. Stay tuned for more information as we get closer to April 1!
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