The Thresholds for car accidents have been increased!
This month, Governor Baker signed the MA 2016 State Budget, which resulted in Section 14-the minor and major thresholds for surchargeable car accidents, being increased to over $1,000 and over $5,000 respectively.
The previous threshold for minor accidents was $500 and for major accidents the threshold was $2,000. Even minor accident damage easily exceeded the previous thresholds with the recent rise in vehicle repair costs.
The increased thresholds are great news for Massachusetts drivers who could save significant money if they’re involved in an at-fault accident.
The change in the thresholds is effective as of July 1, 2015.
No further action is required on this outside budget item, and it is now law.
Above Information provided by the MAIA Massachusetts Agent Newsletter: Edition July 23
McSweeney & Ricci Insurance Agency, Inc.