Average Cost of Homeowners Insurance in Massachusetts (2024)


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Updated: May 22, 2024

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The average cost of homeowners insurance in Massachusetts in 2024 is $2,008. That's $415 less than the national average of $2,423.

Aside from the amount of coverage you get on your home, the insurance provider has the largest impact on premiums, with the difference between the lowest and highest premium amounts reaching $3,423 on average in the Bay State. If your rates have recently increased, we've also analyzed the cheapest plans in the state. This may help you find budget-friendly alternatives without compromising on the quality of coverage.

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Rates updated:

Jul 15, 2024

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To establish the average cost of homeowners insurance in Massachusetts, MoneyGeek used quotes from various providers for a profile that reflects the average homeowner.

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These rates reflect the average cost of home insurance in Massachusetts as of 2024.

276KQuotes Analyzed
 
8Companies Compared
 
15ZIP Codes

Average Cost of Home Insurance in Massachusetts by Coverage Amount

In Massachusetts, the average annual premium for homeowners insurance is $2,008 with $250K in dwelling coverage, $125K in personal property coverage and $200K in liability coverage. This figure is less than the national average, costing $2,423.

Understanding how much coverage you need means ensuring you can rebuild your home and replace personal property after a loss. For example, a policy with $100K in dwelling coverage averages an annual premium of $1,187 in Massachusetts. Owning a more substantial property necessitating $500K in dwelling coverage increases the average annual premium to $3,168.

Average Annual Home Insurance Premium Massachusetts by Coverage Amount
$100K Dwelling / $50K Personal Property / $100K LiabilityAverage Annual Premium$1,187
$250K Dwelling / $125K Personal Property / $200K LiabilityAverage Annual Premium$2,008
$500K Dwelling / $250K Personal Property / $300K LiabilityAverage Annual Premium$3,168
$750K Dwelling / $375K Personal Property / $500K LiabilityAverage Annual Premium$4,709

Average Cost of Home Insurance in Massachusetts by Insurer

Premiums for homeowners insurance in Massachusetts can vary significantly among providers, even for similar coverage levels. For example, Farmers offers a policy at nearly half the state’s average cost, while Travelers’ premium is almost double despite providing equal levels of protection for your home.

Differences in underwriting criteria, such as location, home features and company risk assessments, lead to these price disparities. Comparing quotes when looking for the best homeowners insurance in Massachusetts is the best course of action.

Average Annual Home Insurance Premium Massachusetts by Provider
Data filtered by:Results filtered by:
Coverage:
Coverage:$250K Dwelling / $125K Personal Property / $200K Liability
FarmersAnnual Premium$997
Vermont MutualAnnual Premium$1,233
State FarmAnnual Premium$1,350
USAAAnnual Premium$1,993
AllstateAnnual Premium$2,077
ChubbAnnual Premium$2,136
AmicaAnnual Premium$2,334
TravelersAnnual Premium$3,940

Average Cost of Home Insurance in Massachusetts by Construction and Roof Type

Roofing type plays a role in determining your homeowners insurance premium. In Massachusetts, homes with tile roofs, known for their durability, may benefit from lower insurance costs. Conversely, shake-treated roofs, which can be more susceptible to damage, could result in higher premiums.

The materials used in home construction also affect insurance rates. Superior construction materials, which are often more resistant to certain perils, can lead to reduced insurance premiums. On the other hand, standard frame constructions carry higher premiums due to their commonality and potential vulnerability to severe weather events.

Premiums can vary based on your home's materials, so explore the drop-downs in the table below to see the potential impact on your insurance costs.

Average Annual Home Insurance in Massachusetts by Construction and Roofing Type
Data filtered by:Results filtered by:
Construction:
Construction:Frame
Roof Type:
Roof Type:Composition
$100K Dwelling / $50K Personal Property / $100K LiabilityAnnual Premium$1,187
$250K Dwelling / $125K Personal Property / $200K LiabilityAnnual Premium$2,008
$500K Dwelling / $250K Personal Property / $300K LiabilityAnnual Premium$3,168
$750K Dwelling / $375K Personal Property / $500K LiabilityAnnual Premium$4,709
$1M Dwelling / $500K Personal Property / $1M LiabilityAnnual Premium$6,113

Average Cost of Home Insurance in Massachusetts for Newly Constructed Homes

Insuring a newly constructed home in Massachusetts generally costs around $1,103, which is $905 less than the average premium for older homes as they are less vulnerable to hazards of older homes such as structure fires caused by faulty wiring. The table below illustrates the premium differences for various coverage levels.

Average Annual Home Insurance Premiums: New vs. Existing Construction
Data filtered by:Results filtered by:
Coverage:
Coverage:$250K Dwelling / $125K Personal Property / $200K Liability
Existing Construction (2000)Annual Premium$2,008
New Construction (2023)Annual Premium$1,103

Average Cost of Home Insurance in Massachusetts by Claims History

In Massachusetts, homeowners with a spotless claims record for at least five years can expect an average annual premium of $2,008 for their insurance. Those who have filed one claim within the past five years see an average increase to $2,449, while premiums further rise to $2,878 for homeowners with two claims in the same period.

Average Annual Home Insurance in Massachusetts by Claims Experience
Data filtered by:Results filtered by:
Coverage:
Coverage:$250K Dwelling / $125K Personal Property / $200K Liability
Claim free for 5+ yearsAnnual Premium$2,008
1 claim in past 5 yearsAnnual Premium$2,449
2 claims in past 5 yearsAnnual Premium$2,878
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MASSACHUSETTS NATURAL DISASTERS AND HOME INSURANCE

In Massachusetts, riverine flooding, tropical cyclones, nor'easters and tornadoes are the natural disasters that pose the highest risks to homeowners. Homeowners insurance typically covers tornado damage, but it does not usually cover flood damage.

Average Cost of Home Insurance by City in Massachusetts

For the cities we analyzed, we found premiums ranging from $1,681 to $2,271. In Worcester, homeowners may pay around $1,681 annually, while Cambridge homeowners face around $1,804 in annual insurance costs. Boston tops the list for the highest average rate in the state at $2,271.

Location impacts premiums due to varying risks like crime rates and weather patterns — premiums can vary significantly from one city to the next. However, location is just one factor that impacts insurance costs.

Average Annual Home Insurance Premium by City
Data filtered by:Results filtered by:
Coverages:
Coverages:$250K Dwelling / $125K Personal Property / $200K Liability
BostonAnnual Premium$2,271
CambridgeAnnual Premium$1,804
LowellAnnual Premium$1,774
SpringfieldAnnual Premium$1,708
WorcesterAnnual Premium$1,681

How to Shop for Home Insurance in Massachusetts

Getting a good homeowners insurance deal in Massachusetts is within reach provided you understand how it works. Here's how to find the best deal for you.

1
Assess Your Coverage Needs

Decide how much protection you need for your home and personal properties.

2
Compare Quotes

Check different home insurance prices online and compare quotes to find the best deal for your needs.

3
Consider Bundling

Bundle home and auto insurance with the same carrier for possible discounts on both policies.

4
Look for Discounts

Ask about what discounts insurers offer. Some insurers lower your premiums for being claim-free or installing security systems in your home.

5
Review Insurance Providers

Choose a company with a good reputation and fair prices, as well as a strong financial rating so you can rest assured it can pay claims.

6
Purchase Your Policy

Buy the policy that fits your needs and budget best.

Bundling Home Insurance With Auto Insurance in Massachusetts

In Massachusetts, homeowners can potentially save an average of 15% on their insurance costs by opting for a multi-policy bundle. Specifically, savings can range from $179 to $616 when combining auto and home insurance policies. Looking into the best home and auto insurance bundles in Massachusetts can potentially maximize your discounts.

Home Insurance Discounts in Massachusetts

Massachusetts residents can lower their homeowners insurance costs with various discounts.

  • Loyalty Discount: Stay with the same insurance company for several years.
  • Protective Devices: Install smoke detectors, burglar alarms, or other security systems.
  • Claim-Free History: Maintain a record of no claims over a certain period.
  • New Home Construction: New homes are less likely to have issues that require claims, so many insurers offer a discount.

Remember, to maximize your savings, inquire about all available discounts when requesting a quote.

FAQ: Homeowners Insurance in Massachusetts

On average, what is the cheapest insurer in Massachusetts?
Is riverine flooding in Massachusetts covered by homeowners insurance?
What is the biggest factor that impacts the price of homeowners insurance in Massachusetts?
In Massachusetts, how much, on average, can I save bundling my homeowners insurance with auto?

Additional Resources for Homeowners Insurance in Massachusetts

For those navigating the homeowners insurance landscape in Massachusetts, the following resources can provide valuable guidance and insights:

About Mark Fitzpatrick


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Mark Fitzpatrick has analyzed the property and casualty insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. Currently, he leads P&C insurance content production at MoneyGeek. Fitzpatrick has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.

Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.