I live in Massachusetts and it is very frustrating that there are very few insurance companies operating in the state. Blame Massachusetts insurance regulations for this. Massachusetts insurance rates for auto insurance are determined by the Massachusetts Insurance Commissioner. Since insurers want to determine their own rates, many will simply not operate in the State of Massachusetts (Allstate, Geico, etc.). This rate regulation is great for Massachusetts residents, as we are not hit by sky high premiums as we once were, but it is a detriment in the fact that we are limited in the number of carriers available. high premiums are assigned to risky drivers - that's how insurance works. government do-gooders seeking to make things better as they often to, and failing as they often do, basically took away the power for insurance companies to price risk appropriately, so many simply left. by stating that the companies must charge x or can't charge any more than y, the following results: premiums for good drivers go up to cover the cost of paying for risky drivers
risky drivers here will almost always be able to get insurance and note that it will never cost more than y. the moral hazard is here to continue the same risky behavior, perhaps do it even more often. the overall effect is that the risky drivers will likely be even more risky now. costs rises for the responsible driver because they subsidize the risky ones, and costs of business rises for the insurance company because they have to pay out claims more often because of the additional risk allowed by the subsidies. at the end of the day it's a great program in MA - if you are an irresponsible driver.
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