Massachusetts Deregulation: home insurance prices dip

The Boston Globe reports:

The deregulation of the automobile insurance market in Massachusetts has delivered an unexpected benefit to consumers: a break from constantly rising premiums for their homeowner's policies.

Insurers competing for auto business for the first time in decades are lowering premiums on homeowner's policies for consumers who buy both types of coverage from the same company. In recent months, some of the state's largest insurers, including Arbella Insurance Group, Commerce Insurance Co., Liberty Mutual Group, and Norfolk & Dedham Group, have shaved 3 to 20 percent off homeowner premiums by offering bigger discounts on com bined policies.

Massachusetts Insurance Commissioner Nonnie Burnes said last week that she had hoped, in planning to deregulate the auto insurance system, that it would "force insurers to pay more attention to their homeowner rates." She is pleased with the results so far.

Capitalism means lower prices.