Massachusetts Auto Insurance Minimum Coverage
A question about compulsory auto insurance?
When I insured my car last month, I told the agent that I want basic insurance, and I thought that was what I purchased. I never any information about my policy, all they sent me was the monthly bill.
So today I went to the agent and notified them of this, and they gave me a Coverage Selections Page paper, and I noticed that on part 4 of the compulsory insurance they set my limit to $50,000 while the minimum is only $5000 here in Massachusetts. Apparently the premium for having the $50,000 limit is $503.
Since the car is no longer operational due to an accident last Sunday and I want to keep my insurance for four months until I can replace the car, I was wondering how much I would save if I lowered the limit to the state minimum of $5,000?
You need to talk to your insurance agent.
