Our last look of 2021 focuses on the latest CAR Data as of September 2021
The latest numbers for our December bi-monthly market share update are here. The following numbers on the Massachusetts Private Passenger Auto Insurance Marketplace are from September 2021, the latest month for which complete data is available.
As always, many thanks to the Commonwealth Automobile Reinsurers, which acts as the statistical agent for motor vehicle insurance in the Commonwealth of Massachusetts and provides Agency Checklists with all the data presented here.
A breakdown of the Marketplace in Massachusetts by Exposures and Market Share
The following are some insights from this September’s data:
- As of September 2021, there were a total of 3,592,793 exposures in the private passenger automobile insurance marketplace in Massachusetts.
- MAPFRE/Commerce continues to hold the largest share of this marketplace with a 22.61% market share representing a total of 812,319 exposures.
- GEICO continues as the second-largest auto insurer in the Commonwealth with an 11.55% market share.
- The top 10 private passenger auto insurance writers have an even greater share of the marketplace, with an 83.37% total combined market share.
- Six of the 10 auto writers continue to be Massachusetts-domiciled insurers, while half of the top 20 insurers are based in New England.
The Current State of the Private Passenger Auto Insurance Marketplace in Massachusetts
|Company Name||Exposures||Market Share|
|3. LIBERTY MUTUAL||312,394||8.70%|
|6. PLYMOUTH ROCK||243,179||6.77%|
|8. STANDARD FIRE||151,523||4.22%|
|9. U S A A||138,737||3.86%|
|11. AMICA MUTUAL||107,755||3.00%|
|14. QUINCY MUTUAL||62,186||1.73%|
|15. NORFOLK AND DEDHAM MUTUAL||46,925||1.31%|
|16. VERMONT MUTUAL||39,277||1.09%|
|17. NATIONAL GRANGE||33,777||0.94%|
|19. STATE FARM||16,244||0.45%|
|20. GREEN MOUNTAIN||14,002||0.39%|
|21. PREFERRED MUTUAL||13,794||0.38%|
|22. BANKERS STANDARD||10,176||0.28%|
|26. FARM FAMLY||6,216||0.17%|
|28. AMERICAN INTERNATIONAL||2,236||0.06%|
|31. MARKEL AMERICAN||917||0.03%|
|32. HARLEYSVILLE WORCESTER||899||0.03%|
|33. FIREMEN’S INS CO||113||0.00%|
|34. AMERICAN FAMILY||15||0.00%|
Historical Shifts & Trends in the Private Passenger Auto Insurance Marketplace
In order to give some perspective on the shifts in the marketplace over the past decade within the intended goal of presenting a side-by-side comparison on how the Private Passenger Auto Insurance Marketplace continues to evolve.
With that said, the following three graphs depict the Top Ten Private Passenger Insurers for the month of September 2021, followed by the same graph for the same month, from five years earlier in September 2016, and then finally from a decade ago in September 2011.
The goal is to present a more complete perspective on how the Massachusetts automobile insurance market has shifted during this highlighted period.
Unlike in past updates, all of the past years included in this review have now been during “Managed Competition”.
Past market share reports and links
For those looking to reference Agency Checklists’ bi-monthly CAR reports from early this year, please refer to the links below.
- 1st Look 2021: The MA Private Passenger Auto Insurance Marketplace
- 2nd Look 2021: The MA Private Passenger Auto Insurance Marketplace
- 3rd Look 2021: The MA Private Passenger Auto Insurance Marketplace
- 4th Look 2021: The MA Private Passenger Auto Insurance Marketplace
- 1st Look 2020: The Private Passenger Auto Insurance Marketplace In Massachusetts
- 2nd Look 2020: The Private Passenger Auto Insurance Marketplace in Massachusetts
- 3rd Look 2020: The Private Passenger Auto Insurance Marketplace in Massachusetts
- 4th Look 2020: MA Private Passenger Auto Insurance Marketplace
- Last Look 2020: The Private Passenger Auto Insurance Marketplace In Massachusetts
- NAIC 2020 Market Share Report: The Top 25 Private Passenger Auto Insurers (U.S.)