Technology being blamed for driving up car insurance rates
BOSTON (AP) — Auto insurance rates in Massachusetts are on the rise and technology is to blame.
Industry experts tell The Boston Globe (http://bit.ly/2nD53dW ) that drivers distracted by smartphones are crashing more often and those cars are now more expensive to repair because they’re loaded with on-board sensors and other gadgets.
Some of the largest auto insurers in Massachusetts have received approval from state regulators to raise rates on average by between 3 and 6 percent this year.
Mapfre USA Corp., with more than a million policy holders in Massachusetts, plans to raise premiums by an average of nearly 4 percent. Liberty Mutual Insurance Cos., with nearly 300,000 customers, plans average rate increases of more than 5 percent.
Massachusetts drivers paid an average premium of $1,108 in 2014, the most recent data available.
Information from: The Boston Globe, http://www.bostonglobe.com