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The Best Cheap Massachusetts Homeowners Insurance for 2024

Updated
Dana George
By: Dana George
Dana George
Dana George
Writer

Dana George has a BA in Management and Organization Development from Spring Arbor University. For more than 25 years, she has written and reported on business and finance, and she's still passionate about her work. Dana and her husband recently moved to Champaign, Illinois, home of the Fighting Illini. And though she finds the color orange unflattering on most people, she thinks they'll enjoy Champaign tremendously.

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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.

  • Cheapest overall for Massachusetts: Quincy Mutual
  • Cheapest for new home construction: Metropolitan Group
  • Cheapest for older homes: Quincy Mutual
  • Cheapest for homeowners who have filed a claim: Quincy Mutual

Cheapest overall for Massachusetts

With impressively low rates, these companies offer cheap homeowners insurance in Massachusetts:

  • Quincy Mutual, with an average annual rate of $741
  • Plymouth Rock, coming in with an average rate of $851
  • Heritage, with an average annual rate of $889
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Cheapest overall for Massachusetts homeownersQuincy Mutual
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Cheapest for new home construction

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:

  • Metropolitan Group, offering an average annual rate of $457
  • Quincy Mutual, with an average annual rate of $521
  • Plymouth Rock, with an average annual rate of $604

Cheapest for older 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:

  • Quincy Mutual, with an average annual rate of $652
  • Heritage, offering an average annual rate of $792
  • Plymouth Rock, with an average annual rate of $800

Cheapest when you've made a claim

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:

  • Quincy Mutual, offering a forgiving rate of $686
  • Heritage, coming in with an average annual rate of $859
  • Mapfre, offering an average annual rate of $890

Average home insurance cost in Massachusetts compared to the national average

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
Overall $1,379 $1,725
New home construction $900 $943
Older homes $1,433 $1,658
When making a claim $1,444 $1,803
Data source: Quadrant data.

Massachusetts homeowners insurance overview

The best homeowners insurance in Massachusetts can be found at the intersection of comprehensive coverage and low price.

Different types of homeowners coverage

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.

Level of coverage

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.

Amount of deductible

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.

Potential discounts

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.

What are the most common homeowners insurance claims in Massachusetts?

To ensure proper coverage, it may help to know the most common Massachusetts home insurance claims. Here's what they are.

Water damage and freezing

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.

Fire and lightning

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

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.

Homeowners insurance coverage options and discounts in Massachusetts

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.

Coverage options

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:

  • One type covers renters
  • Another covers mobile homes only
  • The other six range from basic coverage to more extensive protection

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.

Discount options

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:

  • Home security system
  • Smoke detectors
  • Deadbolts
  • Nonsmoking
  • Company loyalty
  • Roof upgrade
  • Upfront payment of premium
  • New home construction
  • Policy bundling

5 cheapest cities in Massachusetts for homeowners insurance

Insurance companies take many factors into account as they determine premiums. They include things like:

  • A city's crime rate
  • The value of other homes in the area
  • Cost to rebuild in a particular area
  • How near (or far) a house is from a fire station

With that said, here are the five cheapest cities in Massachusetts for homeowners insurance:

City Name Average Home Insurance Rate
Adams $875
Williamstown $878
Pittsfield $887
Lenox $889
North Adams $893
Data source: Quadrant data.

5 most expensive cities in Massachusetts for homeowners insurance

Here are the five most expensive cities in The Bay State for homeowners insurance:

City Name Average Home Insurance Rate
Siasconset $3,157
West Chop $3,099
Menemsha $3,065
Cataumet $2,910
Cummaquid $2,848
Data source: Quadrant data.

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.