Massachusetts Homeowners Insurance
Massachusetts homeowners insurance rates average at $85/mo for a standard policy. You can find cheaper Massachusetts home insurance when you comparison shop online. Refer to our guide to learn more about the coverage options available, then use our free ZIP code search below to compare Massachusetts homeowners insurance quotes and find the best policy.
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UPDATED: Nov 6, 2020
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You can expect your annual home insurance to cost around $1,026 ($85/mo) when you live in Massachusetts for the four main sections of coverage.
Your responsibility as a home owner is to know what those sections mean, and to have a working knowledge of the possible perils your home may experience during the course of any given year.
Where you and your family live is the dwelling. The dwelling portion of your home insurance is one of the largest sections and pertains to the structure and utilities of the home. Any additional buildings that are permanently attached are also part of the dwelling where your home insurance is concerned.
- Other Structures
If it is a building or other construction and it is not permanently attached to the home, it is classified as an “other” structure. This might include a barn, a garage, or even a fence surrounding the property. The general rule is that if it is artificially constructed but does not depend on the main residence for support, it is an “other” structure.
- Personal Property
Personal property encompasses all of your belongings, from your linens to your lawn equipment and everything in between. The personal property portion of a home insurance policy usually covers your personal effects up to a specified percentage of the total home value, usually 10 percent or less, and may not be sufficient for your needs without increasing the property limits.
- Loss of Use
Loss of use occurs any time a named peril prevents you from making full use of your home. When you are in a situation where you have to file a loss of use claim, it is important to save all the receipts so that you can be fully reimbursed by the insurance provider.
Average Massachusetts Homeowner Insurance Rates vs. US
Cheaper Massachusetts Home Insurance
5.77 out of every 1000 people have their homes broken into each year, and there are no figures concerning the rate of vandalism and other crimes against homes. To protect your home and get the lowest prices on home insurance, you should make home security a priority. You can also reduce the costs of insurance by making your home less risky and taking steps to improve your credit, because risks are what drive up prices, and the lower your risk assessment, the less you will have to pay.
- Home Security
Putting up a privacy fence around your property helps deter crime, but a decorative brick or chain-link fence is good enough to earn you a discount on your home insurance. And if you couple the fence with an alarm system that is monitored by a professional security company, the discounts get even bigger.
- Health and Home Insurance
You are an important part of the risk factors surrounding your home insurance, and if you take steps to lead a healthier life, the rewards include discounts on home insurance. For example, if you are a smoker, quit. Cigarettes account for a large percentage of the house fires that occur every year, and your rates will go down if you kick the habit.
- Credit Score and Insurance Risk
A credit score of 650 or better will earn you a discount on homeowners coverage. In a state where the average credit score is 710, 650 is not a difficult target number to work toward. And once you have a discount worthy credit score, monitor your credit regularly to make sure it stays free of errors or unwanted identity impersonation.
Home Characteristics Affecting Massachusetts Insurance Rates
Maintenance on your home can reduce the risks of insuring it in a state where the average age of a home is 52 years, because older homes are more likely to experience degradation due to improper care over long periods of time. Another factor that has to be considered is the price of the home, and in Massachusetts the average home price is near $338,500. By being a responsible home owner, you can not only live in a nicer home, you can save money on insuring it.
Local Natural Disasters Massachusetts Homeowners Should Consider Protecting Against
Weather phenomena common to Massachusetts include fires, floods, and hurricanes, tropical and winter Storms. There is not much to fear from earthquakes or tornadoes, but flooding is a very real danger that you need to protect the home against. In addition to insurance, it is a good idea to make sure that your property has adequate drainage away from the home.
Ranked at 35 out of 51, Massachusetts is not likely to have an earthquake. This does not mean it cannot happen, but the chances are extremely small.
Massachusetts had 2,121 claims in 2009, a significant portion of the national total of 46,621. Because of this, flood insurance in Massachusetts is almost certain to be available only through the state-sponsored FAIR plan or some other high risk insurance offering. Regardless of the cost, flood insurance for Massachusetts is a necessary investment.
Hail damage is covered under most insurance policies. It is a good idea to read your policy carefully to make sure that hail has not been excluded, but most policies consider hail a form of wind damage and cover it without comment.
Even though they are rare, hurricanes do make landfall in Massachusetts. For insurance purposes, the only aspect of a hurricane that is not automatically included in the homeowner’s policy is flooding, and that will most likely have to be purchased through some sort of high risk home insurance provider.
0 tornadoes expected in an average year is as low on the list of dangers as you can get. This is not to say that tornadoes cannot happen, but they are very, very rare. As long as your policy covers wind damage and does not specifically exclude tornadoes, you are adequately covered.
One or more of the 74,749 wildfires that happen every year in our country could come to light in Massachusetts. The good news is that unless your policy specifically excludes wildfires, you are already covered and won’t need to look for additional coverage.
Massachusetts Homeowners Insurance Optional Coverages
Having all of the coverages you need does not mean you have all of the protection you need. Most homeowner’s policies only provide limited coverage for personal property or injury liability, for instance. Both of these types of coverage can easily exceed the values assigned to them, and without additional insurance policies to cover these events, you could be left high and dry in the event of a local disaster.
Important Contact Information
Massachusetts Department of Insurance
1000 Washington Street, Suite 810
Boston MA 02118-6200
Phone: (617) 521-7794
Home Insurance Guides for Nearby States
- Connecticut Homeowners Insurance
- New Hampshire Homeowners Insurance
- New York Homeowners Insurance
- Rhode Island Homeowners Insurance
- Vermont Homeowners Insurance
Massachusetts Insurance Agents
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