Analysis of Local Cambridge Mass Insurance Products and the Ecosystem around them

Unique Insights on the Cambridge Mass Ecosystem


Having the right insurance is necessary to protect yourself and have a plan in place if an unexpected event occurs in the future. Residents in Cambridge, MA, can have access to a variety of policies and different types of coverage depending on their specific needs and lifestyle. Whether you spend time on the road, travel a lot or have a dangerous profession, obtaining the right insurance policies can have you covered when you need it most.


Auto Insurance


Cambridge ma auto insurance is required by all drivers with set minimum coverage limits. Drivers can also increase their coverage if they choose. Both collision and comprehensive coverage are available. Collision offers coverage for repairing or replacing a vehicle if it’s damaged or totaled on the road, even if another vehicle is involved. Comprehensive coverage offers repairs or replacement for your car if you strike a tree, animal or come in contact with a falling object. It can also offer compensation for theft, fire or vandalism of the vehicle.


The state has set laws on the minimum insurance coverage Massachusetts that must be obtained by each licensed driver. Obtaining the bare minimum of the state’s requirements for coverage may not always be enough when different types of incidents occur.


Life Insurance


Life insurance is commonly held by the sole provider of households to ensure the defendants don’t suffer from a significant amount of financial loss after the death of the insured. The insurance can secure the family’s financial future and also guarantees the estate is allocated to the beneficiaries.


You can obtain term life insurance quotes Massachusetts to compare rates when shopping around. One of the main factors that determine how much you’ll pay for your coverage is your age. Life insurance rates increase as the insured ages. 


The insured has at least 10 days after the policy is activated to return it or back out, which is known as a free look period. All premiums will be fully paid.


Personal Injury Protection (PIP)


Over 2 million people in the United States are injured in auto accidents each year, which can be debilitating and can affect your quality of life. It’s important to obtain personal injury protection Massachusetts auto insurance because you can receive a payout whether you or another driver were at fault for the collision. You won’t have to worry about seeking compensation from the other party or not having your medical bills covered. Personal injury protection (PIP) covers lost wages, damages to the insured, passengers of the insured any individuals you may have struck.


In Massachusets, PIP is a requirement to have when registering a vehicle. Those who are not eligible for PIP include the driver or passengers of motorcycles, those who are entitled to worker’s compensation and those under the influence of drugs or alcohol.


Up to 75 percent of lost weekly wages are covered by PIP, along with medical bills with or without health insurance according to Value Penguin (see more details here). PIP pays the first $2,000 of medical bills and health insurance pays the rest. Those who don’t have a health insurance policy can expect to have $8,000 of their medical bills paid by PIP. Some insurance companies require health evaluations and exams before the policy is delivered. Group insurance is also available through civic, professional or religions organizations.

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