With an Ivy League college, large urban center and history of witchcraft trials, Massachusetts is a historically, culturally and educationally abundant state. They are also an interesting state in terms of insurance regulations.

Massachusetts Auto Insurance

Massachusetts auto insurance regulations are more restrictive than some states, but their $5,000 minimum coverage for property damage liability is one of the lowest minimums required by any state in the country. This no-fault state requires personal injury protection (PIP) and uninsured motorist coverage. They also require bodily injury liability in the following amounts:

• At least $20,000 for single-person injuries
• At least $40,000 for multiple person injuries

Massachusetts Health Insurance

In 2006, a law was enacted that required every resident of Massachusetts to obtain a minimum level of Massachusetts health insurance. Their minimum creditable coverage standards are numerous and were designed to provide true protection for residents. To see the full list, you can visit their government website.

Because of this Massachusetts health insurance requirement, pre-existing conditions must be given coverage in all individual policies. The state allows employer group insurance coverage for groups as small as one person and allows a 6 month pre-existing conditions exclusions for individuals in the group who have had at least a 63 day break in coverage over the past 6 months. Health savings account (HSA) contributions are state tax deductible.

Massachusetts Home Insurance

The state of Massachusetts does not require its residents to have all insurance coverage-and that means they do not need to carry home insurance coverage unless their lender directs them to. Massachusetts can be at the receiving end of New England hurricanes, so it is important to make sure you choose adequate hurricane coverage for that risk.

Massachusetts Life Insurance

Created in 1986, the Massachusetts Life and Health Insurance Guaranty Association gives consumers up to $300,000 in death benefits and $100,000 in cash value benefits should their insurer become insolvent and unable to fulfill the contract.

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Tags: Massachusetts auto insurance, Massachusetts health insurance, Massachusetts home insurance, Massachusetts insurance, Massachusetts life insurance

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