Cheap Auto Insurance in Lowell, MA
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Lowell, the fourth biggest city in all of Massachusetts, has quite the historical past. Because of a vast network of waterways, which caused many to nickname Lowell “The Venice of America”, it became a manufacturing powerhouse for textiles during the industrial revolution of the early 1900’s. This industry has since waned, but high-tech manufacturing began to take its place in the mid 1980’s.
- Fun fact: residents of Lowell must not be afraid to smile, because they’re #28 on the list of “Top 101 counties with the highest percentage of residents that visited a dentist within the past year”!
Coverage Requirements - Auto Insurance in Lowell Massachusetts
Driving legally in Lowell requires:
| Coverage | Requirements | Most Common |
| Liability Bodily Injury | 20,000/40,000 | 100,000/300,000 |
| Liability Property Damage | 5,000 | 50,000 |
| Bodily Injury - Motorist Uninsured | 20,000/40,000 | 100,000/300,000 |
| Medical Payments | Not required | 10,000 |
| Collision | Not required | 500 deductible |
| Comprehensive | Not required | 250 deductible |
With the minimum state coverage limits, you’ll be slightly better protected in the event of any accident you are liable for than you would be in most other states. You’ll also be protected from forking out medical bills in the event you are injured by an uninsured motorist.
The average monthly rate for Massachusetts drivers is around $134. But don’t worry, there are special deals available in Lowell right now. You could end up forking out only $73/mo* by following our advice listed here in this article.
National Grange Mutual, Allstate, and Amica are all trying to price out the competition in Lowell by offering the lowest rates. However, insurance coverage isn’t just about low rates. Customer service and efficient claims handling are important, too.
Auto insurance companies evaluate different elements when assessing your insurance quote, including your driving experience, zip code, occupation, education, and theft protection devices. Additionally, premiums differ from company to company. To verify you’re still getting the lowest possible rate, just use the internet to compare cheap Lowell auto insurance quotes.
Most Car Insurance Facts to know in Lowell MA
There are a number of items which could factor into the rate quotes you are provided with. Although multiple of these elements aren’t actually something you can do something about, some of them are variables which you can change for the better. Here are some elements which can affect most car insurance premiums:
- Your Zip Code
Where you park your vehicle each night will have a significant influence on your auto insurance rate. Typically, auto insurance is cheaper in rural areas because fewer cars means a smaller chance that you will be involved in a collision with another vehicle. The total population of Lowell is 108,861 and the average household income is $42,270.
- Automobile Accidents
The rate of significant accidents in Lowell is pretty low, especially considering the population. And you may not know this, but living and driving in a safe city gets you lower insurance premiums automatically, since you’re less likely to get into a wreck.
- Car Thieving in Lowell
If you live within a big city (especially one having an elevated crime rate), it will raise your chance of becoming a target for auto theft. Also, if your overall locale features higher than average rates of theft claims each year, you will probably spend more for your auto insurance in order for your provider to offset expenses. The number of vehicles stolen in the year 2013 was 320 for Lowell.
- Your Credit Score
Massachusetts is one of three states which prohibits Automobile insurance companies from charging higher or lower rates based on your credit score. For motorists with bad credit, this helps them get a fair price for insurance. But Automobile insurance companies are also more likely to charge everyone a higher rate on average – even with good credit – to offset the risk (and recoup lost profits).
- Your Age
Because Teenage motorists have so little experience behind the wheel, they are statistically more likely to get into an accident. To offset this potential risk, they are charged dramatically higher monthly rates. Luckily, there are “Good Student” and Driver’s Ed discounts which can help lower their bills.
- Your Driving Record
significant driving violations – such as a DUI, or a reckless driving citation – can send your monthly premiums through the roof. Some companies may even refuse to cover you altogether. But if you only have minor citations, such as a speeding ticket, as your provider if you can save money with “Accident Forgiveness”.
- Your Vehicle
The more expensive your vehicle is, the more it will cost to insure. After all, would you trust a luxury vehicle to an auto policy with only the state minimum amount of coverage? Probably not. If you’re going to make a big, luxurious vehicle purchase, make sure you have the money to keep it comprehensively insured.
Minor Car Insurance elements in Lowell
Of All the elements which might raise (or even lower) your monthly insurance bill, the following are sometimes less influential:
- Your Marital Status
Married couples have an advantage when it comes to auto insurance – bundled discounts. By bundling your insurance policy with your spouse, you can both save on your premiums each month. The only catch is that you have to bundle with the same company.
- Your Gender
Thankfully, many insurance companies are phasing out the outdated practice of charging drastically different rates based on gender. Some companies still charge a 2-3% difference, but it depends on the provider whether or not male or female drivers are stressed with this extra expense.
- Your Driving Distance to Work
Your typical commute to work might last anywhere from 21-34 minutes in Lowell. The vast majority of those workers who drive to their place of employment will likely be taking their own vehicle (almost 75%), while nearly 10-24% will agree to go carpooling along with fellow co-workers.
Are you worried about driving too many miles? Or that doing too much leisurely driving is costing you in higher insurance premiums? Don’t fret. Even if you severely limit your yearly mileage, you’ll save 3-4% at best. Whatever you do, try not to register your vehicle for business – you could face rate hikes of 10% or more.
- Your Coverage and Deductibles
One way to increase your coverage without forking out a fortune each month is to raise your deductible. A high deductible, although unpleasant to pay if you need to file a claim, can dramatically lower your monthly bill.
- Education in Lowell, MA
Recent statistics reflect a growing trend in the car insurance industry: those who have a higher education will likely save more on their auto insurance costs than those who don’t, regardless of yearly salary or job title. In Lowell, the average driver already has their high school diploma. A slightly smaller number of drivers have not yet completed high school.
Although Lowell University has changed its name in recent years to UMass Lowell, it is still a popular institution for students who want to further their education. Whether you’re looking for a professional, bachelor’s, master’s, or higher degree, you can find it at UMass Lowell. Additionally, you might want to look into Middlesex Community College. They offer scores of certificate and degree programs, career training, non-credit classes, and they will also help prepare you for transfer to a four-year institution.
Trying to find low-cost auto insurance can be a confusing sometimes. There is a great deal of important information to think about, and understanding how your insurance company might evaluate your possible risk elements can be challenging. But don’t allow a bad insurance company to convince you that purchasing their expensive policy is a good idea. Interested in learning more about Lowell, MA?
How We Conducted Our Car Insurance Analysis
Sources:
Massachusetts Division of Insurance
Massachusetts Division of Insurance and Financial Institutions
Department of Highway Safety and Motor Vehicles