In the Field
This week brought an announcement that many have expected for some time – Allstate is coming back to sell personal automobile insurance products in Massachusetts.
This week brought an announcement that many have expected for some time – Allstate is coming back to sell personal automobile insurance products in Massachusetts. Essentially coming in as a direct writer, the company seems to have big plans to make a play for taking on a fair amount of business.
Shifting of auto insurance business has been expected and seems to staying at a minimum for now. Part of that reason might be that recent entrants to the market – Progressive, GEICO (now open for business) and Allstate – are not going to be offering homeowners insurance and the existing players have tended to push the value of package policies and discounts for keeping both personal products with the same company.
In that way, there appears to be more of a disconnect between the introduction of competition to Massachusetts auto insurance and the homeowners insurance market. While the latter is getting less attention than it did over the last five years, it is still a concern for many coastal residents. While managed competition really does seem to be working well, it can truly be called a success when the market brings in competitors that can offer full solutions to all the personal insurance needs of Bay State consumers.