MA auto insurance rates to go lower

BOSTON -- State insurance regulators are setting 2005 auto insurance rates lower that what drivers paid in August.



But the new rate still represents an increase from the rate set at this time last year.



Insurance Commissioner Julianne Bowler lowered the rate paid in August by 1.7 percent. However, that's roughly 1½ percent, or $16, above the rate established at this time last year.



State auto insurers wanted a 5.8 percent rate increase for next year, citing a slight increase in major policy claims.



Massachusetts is the only state that sets insurance rates. Each year, the industry files recommendations on rates for the following year. The new rates take effect in January.