Surcharge Limits refer to restrictions or regulations that govern the maximum amount or percentage that can be added as an extra charge, or surcharge, to a base price for a product or service. These limits are often established by regulatory authorities, industry standards, or agreements between parties to ensure fairness, transparency, and consumer protection.

 

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Increase to Accident Surcharge Thresholds Limits Effective July 1, 2015

Governor Baker’s signing of the Massachusetts 2016 State Budget on July 17, 2015, led to increased minor and major thresholds for surchargeable accidents, offering potential savings for drivers in the state who may be involved in at-fault accidents.

Massachusetts Senate Attempts to Increase Accident Surcharge Threshold Limits

The Massachusetts Senate has successfully incorporated an amendment into the 2016 State Budget, aiming to raise the Property Damage Threshold for both Minor and Major accidents. The proposed thresholds would increase to $1,001 for Minor Accidents and $5,001 for Major Accidents, potentially benefiting Massachusetts drivers by impacting surcharge points added to driving records, which can influence insurance premiums following at-fault accidents.