Massachusetts has a homeownership rate of nearly 62%, but the Bay State is not the cheapest place to live. The capital city of Boston was ranked in the top 10 most expensive urban areas by the Council for Community and Economic Research and Massachusetts is consistently rated as one of the most expensive places to own a home.
If you live in Massachusetts, having homeowners insurance is extremely important. Every year, the state experiences blizzards, ice storms, storm surges and floods that damage homes. Hurricanes can also bring high winds and heavy rain to towns along the coastline.
Before purchasing a homeowners insurance policy, you should consider how much coverage you need based on the value of your home and your personal belongings. You may also need to purchase endorsements for coverage beyond your policy’s limits. Additionally, it’s a good idea to get flood insurance if your home is in a high-risk flood zone.
Best home insurance companies in Massachusetts
Not all home insurance companies are created equal. To help you find the best provider, we put together a list of the best Massachusetts home insurance companies:
- Amica — Amica is known for offering great customer service and comprehensive coverage options for Massachusetts homeowners. The company also sells auto, life, small business, flood, motorcycle, marine insurance and more.
- Allstate — Allstate offers affordable premiums and discounts to help Massachusetts homeowners save money on their home insurance. The company also sells auto, motorcycle, business, life, identity theft insurance and more.
- ASI Progressive — ASI Progressive provides reliable home insurance coverage to Massachusetts residents and is known for their efficient claims process. The company also sells seasonal home, flood and umbrella insurance.
- Massachusetts Farm Bureau — Massachusetts Farm Bureau members can purchase discounted home insurance through American National. Farm Bureau members can also get auto and life insurance with American National.
We chose these providers based on their ratings in J.D. Power’s 2019 U.S. Home Insurance study. We also evaluated each company individually based on their average rate, policy offerings, discounts, claims handling reviews and customer service.
In addition, we accounted for these company’s ratings from AM Best to determine their financial strength, and the Better Business Bureau (BBB) for real customer reviews.
|J.D. Power||AM Best||BBB|
|ASI Progressive||3/5 stars||A||A+|
|MA Farm Bureau (American National)||N/A||A||N/A|
Average homeowners insurance cost in Massachusetts
In the Bay State, homeowners pay an average of $1,488 per year for their homeowners insurance. In comparison, the U.S. national average is about $1,211 per year, according to the Insurance Information Institute.
To help you determine the average rate for the providers on our list, we got sample quotes for a 27 year old single female living in Quincy, MA. The quotes are for a home that is worth $400,000 with $400,000 in liability coverage.
- Amica — $1,519
- Allstate — $1,312
- ASI Progressive — Call an agent to get quote
- Massachusetts Farm Bureau — Must be a member to get a quote
Massachusetts’s home insurance rates are comparable to neighboring states in the northeast region:
The state’s average annual premium is similar to Connecticut and Rhode Island because they share the same weather patterns. All three states are susceptible to blizzards, ice storms, hurricanes and flooding along the coastline.
Home insurance coverage options in Massachusetts
In Massachusetts, homeowners insurance policies include five main coverages, including:
- Dwelling coverage and hazard insurance: Dwelling insurance protects the physical structure of your home, as well as attached structures. Hazard insurance is the portion of your insurance that covers your home’s structure.
- Personal property coverage: Personal property coverage protects the items inside your home, like furniture and clothing.
- Liability coverage: Liability coverage pays for your legal fees if you accidentally damage someone else’s property or someone injures themselves in your home and they take you to court.
- Medical payments: In the event that someone gets injured on your property, your medical payments coverage will pay for their medical bills.
- Loss of use: If your home gets damaged and you have to temporarily move out, loss of use coverage will pay for your hotel and food bills.
In addition to these coverages, Massachusetts homeowners should strongly consider purchasing flood insurance, especially if your home is located along the coast. With rising sea levels, and the risk of storm surges and hurricanes, having flood insurance can protect your home from costly damage.
Common causes of home insurance losses in Massachusetts
In 2018, there were five catastrophic events that caused roughly $487.8 million in property damage in Massachusetts. Those events included:
- Flooding — Flooding is common, especially in coastal towns
- Freezing and ice — Massachusetts often experiences freezing rain and ice in the winter months
- Snow — Heavy snow and blizzards are common across the state, especially in the western region
- High winds — Coastal towns may see damage from high winds and hurricanes
Frequently asked questions
Is homeowners insurance required in Massachusetts?
You don’t have to have homeowners insurance in Massachusetts. However, if you have a mortgage on your home, your lender may require it.
How much does homeowners insurance cost in Massachusetts?
On average, a home insurance premium in Massachusetts costs $1,488 per year. But the actual amount you’ll pay depends on your city, your age, your claims history, the size of your home and more.
What is the best homeowners insurance in Massachusetts?
There isn’t one home insurance company in Massachusetts that is the best for everybody. It’s important to do your research and find a company that offers the coverage you need for the best price.
How do I get homeowners insurance in Massachusetts?
To get homeowners insurance in Massachusetts, shop around and pick a few companies that offer the coverage you want. Then, get sample quotes and compare the rates. Before signing a policy, make sure you have enough coverage to protect your home and personal belongings in the event of a loss.