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If shopping for homeowners insurance is not your idea of fun, you may be in good company. However, the right homeowners insurance policy can protect one of the most significant financial investments a policyholder can have -- their home. Here, we take the legwork out of finding the best homeowners insurance in Massachusetts by showing you where to buy the cheapest policies in the state and outlining key factors to look for in choosing a Massachusetts home insurance policy.
With impressively low rates, these companies offer cheap homeowners insurance in Massachusetts:
Moving into a new home is exciting, and homeowners are often surprised to learn they may be paying less for homeowners insurance than expected. Because the major components of the house are new, insurers frequently don't have to pay claims right away. They pass that expected savings on to the homeowner in the way of lower insurance premiums. Here are the three cheapest Massachusetts home insurance providers for newly built homes:
There's nothing quite like an older Massachusetts home. Character, history, and architectural flourishes are hallmarks of a different era in homebuilding. However lovely the home may be, though, an older structure is more likely to have issues with things like wood rot, leaks, and mold. For that reason, insurers tend to charge more for homeowners insurance. Still, these three companies have found a way to insure old Massachusetts homes cheaply:
If a home is damaged or destroyed, it's good to know there's sufficient insurance coverage to make things right. Still, a homeowner can expect their premiums to go up for a while after making a claim. For a Massachusetts homeowner who has previously made a claim, these three insurers offer the lowest rates in the state:
The average cost of homeowners insurance in Massachusetts is $1,379, which is about 20% lower than the national average of $1,725.
|Average Rate Category||Massachusetts||National Average|
|New home construction||$900||$943|
|When making a claim||$1,444||$1,803|
The best homeowners insurance in Massachusetts can be found at the intersection of comprehensive coverage and low price.
Homeowners coverage in Massachusetts is not a one-size-fits-all proposition. There are six types of policies specifically designed to cover traditional (non-mobile) homes. These policies range from basic coverage to coverage with all the bells and whistles. The best homeowners insurance companies offer them all.
It's possible to purchase a bare-bones policy. That said, a homeowner should not be surprised if a bare-bones policy doesn't fully cover their losses after a peril of some kind damages their home. If a homeowner has enough money to repair or rebuild their property on their own dime, a bare-bones policy may make sense. Otherwise, the best move is to shop for a level of coverage that does not require the homeowner to pull a large sum of money from their own pocket.
A deductible is an amount a homeowner must pay toward a claim. Let's say the roof is damaged during a thunderstorm. The total cost to replace the roof is $18,000 with a $1,000 deductible on the policy. The homeowner pays the contractors $1,000, and the insurance company covers the remaining $17,000.
Policy discounts represent one of the best ways to snag cheap homeowners insurance in Massachusetts. Before deciding which policy is best, it's helpful to know how much each policy costs after discounts are factored in. Nearly all insurance companies offer home insurance discounts. Discounts vary and range from whether smoke detectors are in the house to whether a homeowner bundles auto and home insurance.
To ensure proper coverage, it may help to know the most common Massachusetts home insurance claims. Here's what they are.
Massachusetts gets more than its fair share of rain and snow each year. That alone helps explain the number of insurance claims for things like damage due to ice dams, leaky basements, and frozen pipes. And as with any home, there's also the risk of water damage caused by plumbing issues and malfunctioning appliances.
Nationally, fire and lightning damage accounted for 25% of all homeowners insurance claims in 2019 according to the Insurance Information Institute. And Massachusetts was no exception. While fire may not be the top reason for claims, it is one of the most expensive claims insurance companies deal with.
Wind damage is another common Massachusetts claim. Between blowing objects, falling trees, and heavy winds, roofs and other exterior features of a home can take a beating.
For many people, the ideal homeowners policy combines comprehensive coverage with a low premium. Here's a list of coverage and discount options available to those looking for the best homeowners insurance in Massachusetts.
As mentioned, homeowners (other than those with a mobile home) have their choices of six categories of coverage. These categories are referred to as HO-1 through HO-8. Here's how the types of homeowners insurance break down:
A homeowner can pick up coverage for upgraded features like wine cellars and custom flooring. A comprehensive insurance policy may also protect against loss for things like fine artwork and jewelry.
Landing inexpensive homeowners insurance in Massachusetts depends, in part, on claiming as many discounts as possible. Each insurer offers a different set of discount options. Here's a sampling of the most common:
Insurance companies take many factors into account as they determine premiums. They include things like:
With that said, here are the five cheapest cities in Massachusetts for homeowners insurance:
|City Name||Average Home Insurance Rate|
Here are the five most expensive cities in The Bay State for homeowners insurance:
|City Name||Average Home Insurance Rate|
The best homeowners insurance in Massachusetts provides comprehensive coverage without costing an arm and a leg. Most importantly, the right policy can help a homeowner sleep better at night, knowing there's a plan in place to protect one of their biggest financial investments.
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The data found on this page is a combination of publicly available quote data obtained directly from the carrier as well as insurance rate data from Quadrant Information Services. These rates were publicly sourced from the top ten (10) to fifteen (15) carrier markets, within each state, based on annual written premium and should be used for comparative purposes only -- your own quotes may be different.
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