What Car Insurance is Cheapest for Nurses in Boston?

Establishing which companies have the best car insurance rates for nurses will require a little more effort than just picking a company at random.

Every car insurance company uses a different method for establishing rates, so we need to take a look at the car insurance companies with the most affordable rates in Massachusetts. It’s a good idea to be aware that Boston car insurance rates are impacted by many factors which can substantially change the price of coverage. Getting older, marrying your spouse, or getting a reckless driving citation can produce rate changes resulting in some rates now being cheaper than others.

Best Cheap Insurance Rates for Health Occupations

Compare Rates and Save

State Farm normally has some of the cheapest car insurance rates in Boston at around $741 each year. This is $494 less than the average rate paid by Massachusetts drivers of $1,235. National Grange Mutual, GEICO, Commerce Group, and OneBeacon also qualify as some of the lowest-priced Boston, MA car insurance companies.

As the rates illustrate above, if you currently buy coverage from GEICO and switched to State Farm, you might see savings of about $127. Massachusetts drivers with Commerce Group might save as much as $143 a year, and OneBeacon customers might reduce prices by as much as $162 a year.

Remember that these policy rates are averages for all drivers and vehicles and are not factoring in an exact zip code location for nurses. So the auto insurance company that is best suited for you may not even be in the top 21 companies in the list above. That is why you need to get quotes using your own individual information.

The make and model of vehicle needing coverage is one of the biggest factors when consumers are trying to find the best cheap coverage for nurses. Vehicles with higher performance, poor passenger safety features, or high incidents of liability claims will cost quite a bit more to insure than safer models.

The list below illustrates coverage prices for the most affordable automobiles to insure.

Above prices assume single male driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Massachusetts minimum liability limits. Discounts applied include safe-driver, claim-free, multi-policy, homeowner, and multi-vehicle. Table data does not factor in specific location which can increase or decrease rates substantially.

Based upon the rates shown, models like the Ford Escape, Honda CR-V, Ford Explorer, Dodge Grand Caravan, and Hyundai Elantra will be some of the more affordable vehicles to insure for health professionals.

Get discounts on Boston insurance

Car insurance companies that provide coverage for nurses may provide special discounts that may potentially lower prices by as much as 35% or more if you are eligible. Companies and the discounts they provide are:

• Progressive has savings for homeowner, multi-policy, good student, multi-vehicle, continuous coverage, online signing, and online quote discount.
• MetLife has discounts for good driver, claim-free, accident-free, multi-policy, good student, defensive driver
• Mercury Insurance discounts include good student, location of vehicle, annual mileage, low natural disaster claims, good driver, and professional/association.
• Nationwide includes discounts for good student, business or organization, defensive driving, anti-theft, and easy pay.
• GEICO may include discounts for good student, air bags, multi-vehicle, multi-policy, and daytime running lights.
• AAA offers premium reductions for multi-policy, good driver, anti-theft, AAA membership discount, education and occupation, and good student.

The example below compares insurance premiums with and without discounts applied to the policy rates. The data assumes a female driver, no accidents, no driving violations, Massachusetts state minimum liability limits, comp and collision included, and $250 deductibles.

The first bar for each age group shows insurance cost with no discounts. The second shows the rates with defensive driving course, accident-free, claim-free, multiple vehicle, multiple policy, and safe-driver discounts applied. When discounts are applied, the average savings per year on car insurance for nurses is 28% or $460.

The diagram below shows how choosing a deductible can impact insurance costs when searching for cheap insurance for nurses. The premium estimates are based on a married female driver, full coverage, and no discounts are applied.

A 50-year-old driver could lower their policy premium by $226 a year by switching from a $100 deductible up to a $500 deductible, or save $344 by using a $1,000 deductible. Youthful drivers, like the Age 20 category, can save up to $568 each year by using a higher deductible.

When increasing deductibles, it is necessary to have additional funds squirreled away to enable you to pay the extra out-of-pocket expense, which is the primary disadvantage of high deductibles.

How much more does full coverage cost?

Lowering the price of car insurance is probably important to the majority of drivers, and an easy way to find cheap insurance for nurses is to only buy liability coverage. The chart below compares yearly insurance costs with liability coverage only compared to full coverage. The rate quotes are based on no claims or violations, $250 deductibles, drivers are single, and no discounts are taken into consideration.

If averaged for all ages, full coverage on your policy costs $1,941 per year over liability only. That is a significant amount which raises the question when is it safe to stop buying full coverage. There is no set guideline of when to phase out physical damage coverage, but there is a guideline you can consider. If the annual cost of your full coverage insurance is about 10% or more of the vehicle’s replacement cost less your deductible, then it could be time to drop full coverage.

There are some cases where buying only liability insurance is not recommended. If you haven’t paid off your loan, you must maintain physical damage coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if you cannot afford to purchase a different vehicle if your current one is damaged, you should not consider dropping full coverage.

Low rates can quickly become overpriced

Massachusetts car insurance rates are based on many factors which can substantially decrease or increase the price you pay. Improving your credit rating, moving to a new city, or having a fender bender can produce rate changes that can now make some companies more affordable than others. Not only that, but insurance companies change their prices as often as every quarter to adjust for unexpected claims or profits. Higher than normal claim frequency or severity may result in more expensive prices, while profitable underwriting may produce lower-cost Boston car insurance rates.

To illustrate this point, the bar chart below compares the cheapest car insurance in Boston, MA for a 35-year-old male driver with no violations or accidents, and solid credit. When comparing rates based on his current risk factors, State Farm offers the cheapest car insurance rates in Boston at $952 per year. This is $283 less than the average rate paid by Massachusetts drivers of $1,235. National Grange Mutual, GEICO, Commerce Group, and OneBeacon are the rest of the best Boston, MA auto insurance companies.

Now we will give the driver from the above example a chargeable accident, bad credit, and a few traffic violations. Due to the fact that each insurance company has their own guidelines to set premium rates, comparing insurance quotes will most likely result in a significantly different list of the cheapest companies as shown below.

Arbella now has the lowest car insurance rate in Boston with USAA, Norfolk and Dedham, National Grange Mutual, and Amica completing the list. This example illustrates why it is critical to spend some time comparing rates to get the most budget-friendly insurance quotes for nurses.

Insurance rates are influenced by many different factors and can decrease or increase without notice, so the best company the last time you shopped around may now be quite expensive.