Best homeowners insurance in Massachusetts for 2023

Compare the best homeowners insurance companies in Massachusetts

Bankrate’s extensive home insurance research found USAA, Allstate and Amica to be among the best home insurance companies in Massachusetts. Most of the companies on our list offer average rates below the state average of $1,199 per year for $250,000 in dwelling coverage, based on our study of average rates sourced from Quadrant Information Services. 

Additionally, these companies offer competitive coverage options, unique and varied opportunities for home insurance discounts, strong financial strength ratings from AM Best and most were ranked in J.D. Power’s 2022 U.S. Home Insurance Study.

*USAA not officially ranked by J.D. Power due to eligibility restrictions

The top five home insurance companies in Massachusetts

How Bankrate chose the best home insurance companies in Massachusetts

When it comes to finding the best Massachusetts homeowners insurance, Bankrate first reviewed average premium data from Quadrant Information Services. But price doesn’t give a full view of a carrier’s capabilities, so we also analyzed coverage offerings, discounts, digital tools and third-party ratings from organizations like J.D. Power and AM Best. We combined these metrics into our proprietary Bankrate Score model.

Each Score is on a scale from 0.0 to 5.0. The higher a company’s Bankrate Score, the more highly it ranked in the individual rating categories. You can use the Bankrate Score of each company to get a quick view of how competitive that company is across various metrics.

How much is home insurance in Massachusetts?

The average cost of homeowners insurance in Massachusetts is $1,199 per year for $250,000 in dwelling coverage, which is cheaper than the national average of $1,428 per year. The state’s average annual premium is slightly lower than some of its neighbors' rates. In Connecticut, the average cost of home insurance for $250,000 in dwelling coverage is $1,244 per year, while in Rhode Island the average cost is $1,233 per year. All three states are susceptible to blizzards, ice storms, nor’easters and hurricanes along the coastline. 

Keep in mind that the amount of dwelling coverage you need to purchase to cover the cost of rebuilding your home will affect your insurance premium. We’ve gathered home insurance premiums for different dwelling coverage amounts in Massachusetts for each carrier on our ‘best’ list to help give you an idea of what you might expect to pay.

Average annual premium by dwelling coverage level in Massachusetts

How to find the best cheap home insurance in Massachusetts

When you're looking for good cheap Massachusetts homeowners insurance, there are a few strategies you can use to ensure that you are getting the best possible rate. Consider these tactics to help you score a reasonably priced policy:

1. Shop around: Don't stop after asking for just one home insurance quote. Take a look at multiple Massachusetts insurers and get quotes from several.  You may be surprised at the range of options you receive. Just be sure that you're quoting the exact same coverage levels and options with each company so you can make a fair comparison.
2. Repair your roof: Most home insurers will ask you the age of your roof when you request a quote. An old or poorly-maintained roof can result in a pricey claim, so you are likely to earn a lower rate if you have a newer roof. If your roof is made of storm-resistant materials, some insurers may even give you a discount.
3. Increase your deductible: Increasing your deductible is likely to lower your rate, since it means you'll be paying more before your policy kicks in after a claim. Make sure that the deductible you choose is an amount that you can comfortably pay on short notice, though. 
4. Bundle your policies: Most insurers will offer you a substantial discount if you purchase multiple policies from them. Usually, this means homeowners plus auto insurance, but you could also earn a discount from some if you have another type of policy, such as renters insurance. 

Common home insurance discounts in Massachusetts

Most homeowners are able to save some money on their policy by taking advantage of discounts. These are some commonly offered discounts, and some are quite easy to earn.

Types of home insurance in Massachusetts

You may want to consider adding optional home insurance coverage options to your Massachusetts homeowners insurance coverage for more tailored protection that speaks to the particular needs of residents in the state. For instance, you may want to think about purchasing:

• Flood insurance: Standard home insurance policies do not cover damage caused by flooding and you will need to purchase a separate flood insurance policy from the National Flood Insurance Program (NFIP) or a private insurer. Even if you aren’t in a high-risk flood zone, it might be useful to get a Massachusetts flood insurance quote to decide if the coverage is right for you. A 2021 report indicated that nearly 50,000 Massachusetts homes have a substantial risk of flooding.
• Identity theft coverage: As we live in an increasingly digital world, identity theft is becoming more common. Many Massachusetts homeowners insurance companies offer this endorsement, which can help pay for legal fees and services like credit monitoring in the wake of an identity theft.
• Sewer backup coverage: Sewer backups can occur when water or drain lines can’t properly funnel water away from your house, leaving it to back up into your living space. This commonly happens in basements or crawl spaces when sump pumps can’t keep up with heavy rains, but it can happen from any water line. Standard home insurance does not cover this type of damage, so you may want to ask your insurance agent about purchasing this endorsement, which typically costs less than $100 per year in additional premium for $5,000 of coverage, according to the Insurance Information Institute (Triple-I).

Frequently asked questions