Cambridge Automobile Insurance

When you obtain an auto or truck insurance policy, you are entering into an actual contract. A contract between you, as the policyholder, and the insurance company is an actual legal document. You agree to pay the premium, while the insurance company agrees to pay for losses.  But only losses as defined in the terms of the contract that formulates the policy.

Massachusetts requires that all drivers must have auto liability insurance before they can legally drive a car. In the case of an accident, liability insurance is intended to pay the other driver’s auto repair, medical, or other costs when you, as the policyholder are at fault when an accident occurs.  Most auto policies are for six months to a year. The basic automobile policy is comprised of six different kinds of coverage.  These 6 coverages are listed below, and each coverage is priced separately.

It is essential to obtain adequate liability insurance to protect your home and your assets. While it is common to set a lower threshold of a minimum of $100,000 of bodily injury protection per person and $300,000 per accident, in today’s world of wildly escalating health care costs, if you do get involved in an accident, the costs may well exceed those policy limits. You will be responsible for paying any judgments over those amounts, even if it could mean losing your home or other assets.

Econosurance of Cambridge, Mass. can help you find the auto or truck insurance policy that’s just right for you. Whether you have a private passenger car or truck, a motorcycle, motorhome, or all of the above, we will make sure you get adequate protection, the best of coverages in the 6 different areas, and great customer service at an affordable price.

Coverages Available

  • Bodily injury liability
  • Property damage liability
  • Injury and damage from uninsured and under-insured motorists
  • Medical payments
  • Towing
  • Physical damage to your vehicle
    • Collision covers damage due to collision with another vehicle or an object
    • Comprehensive covers glass breakage, collision with an animal, theft, fire, vandalism, and more
    • Substitute Transportation provides a rental car when your vehicle is being repaired due to a covered loss

Comprehensive and Collision coverages may be optional, however, if you have a loan on your vehicle, the lender will be insisting that you carry these coverages to protect the interests of the lender.

Mass. Minimum Requirements

Here in Cambridge, Massachusetts, drivers are required to have 4 different basic types of coverages on each vehicle, with minimum amounts as follows:

  • Bodily Injury to Others:
    • $20,000 per person.
    • $40,000 per accident.
  • Personal Injury Protection (PIP):
    • $8,000 per person in an accident.
  • Bodily Injury Caused by an Uninsured Auto:
    • $20,000 per person.
    • $40,000 per accident.
  • Damage to Someone Else’s Property:
    • $5,000 per accident.

PIP coverage will cover you or your passengers’ injuries from a car accident, regardless of who was at fault.

Optional Car Insurance

Massachusetts auto insurance companies allow drivers to purchase higher limits on the required coverage types and/or purchase additional insurance coverage. When getting a quote on car insurance it is advisable to ask about the following types of optional coverage:

  • Collision – This covers damages to your car caused by a collision with another vehicle.
  • Comprehensive – This covers non-collision-related incidents, such as damages to your vehicle caused by severe weather.
  • Rental.
  • Towing and labor.

NOTE:  While Massachusetts auto insurance laws do not require you to obtain collision or comprehensive coverage, if you have a car loan or are leasing your car, your financing company will most definitely insist that you to purchase both collision and comprehensive auto insurance, as a condition of your loan or lease agreement.  They are named as a loss payee on the policy, and if you cancel it, they will be notified, and your financial arrangement with them will be jeopardized.