In Massachusetts, Farmers offers the most affordable overall insurance rates, while State Farm emerges as the most budget-friendly choice for homeowners seeking coverage for new homes or looking for the most economical bundled insurance options.
Cheapest Homeowners Insurance in Massachusetts (2024 Rates)
Massachusetts' most affordable home insurance is offered by Farmers at an annual cost of $517. However, the cheapest insurance provider for you will depend on your personal circumstances and property type.
![Banner image](https://res.cloudinary.com/moneygeek/image/upload/c_scale,q_auto:eco,f_auto,fl_lossy,w_484/v1715118455/home_insurance_image_64ff650d7e.png)
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Mark Fitzpatrick
Head of P&C Insurance, MoneyGeek
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](https://www.cnbc.com/2020/04/15/cant-keep-up-with-insurance-premiums-heres-what-to-do.html), [NBC News](https://www.nbcnews.com/business/autos/flooded-cars-are-problem-their-owners-future-car-buyers-n1278493) and [Mashable](https://mashable.com/article/tesla-insurance-rates). 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.
Jonathan Ramos
Content Editor
Jonathan Ramos is an editor committed to producing user-friendly and accessible financial content, particularly for those in younger generations. Previously, he worked as a fact-checker at The Daily Emerald, the University of Oregon newspaper. Jonathan's interest in the personal finance space stems from his desire to make a positive impact on the lives of others — he helps people make informed financial decisions by using his editing skills to make complex information more digestible.
![](https://res.cloudinary.com/moneygeek/image/upload/c_scale,q_auto:eco,f_auto,fl_lossy,w_100,b_white/v1613177245/Image_from_i_OS_825d26269a.jpg)
Mark Fitzpatrick
Head of P&C Insurance, MoneyGeek
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](https://www.cnbc.com/2020/04/15/cant-keep-up-with-insurance-premiums-heres-what-to-do.html), [NBC News](https://www.nbcnews.com/business/autos/flooded-cars-are-problem-their-owners-future-car-buyers-n1278493) and [Mashable](https://mashable.com/article/tesla-insurance-rates). 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.
Jonathan Ramos
Content Editor
Jonathan Ramos is an editor committed to producing user-friendly and accessible financial content, particularly for those in younger generations. Previously, he worked as a fact-checker at The Daily Emerald, the University of Oregon newspaper. Jonathan's interest in the personal finance space stems from his desire to make a positive impact on the lives of others — he helps people make informed financial decisions by using his editing skills to make complex information more digestible.
Updated: May 22, 2024
Advertising & Editorial Disclosure
Table of Contents
![Farmers](https://res.cloudinary.com/moneygeek/image/upload/c_scale,w_45/v1/MoneyGeek.com/Company%20Logos/miniFarmers.png)
![Farmers](https://res.cloudinary.com/moneygeek/image/upload/c_scale,w_45/v1/MoneyGeek.com/Company%20Logos/miniFarmers.png)
![State Farm](https://res.cloudinary.com/moneygeek/image/upload/c_scale,w_45/v1/MoneyGeek.com/Company%20Logos/miniStateFarm.png)
![State Farm](https://res.cloudinary.com/moneygeek/image/upload/c_scale,w_45/v1/MoneyGeek.com/Company%20Logos/miniStateFarm.png)
![Farmers](https://res.cloudinary.com/moneygeek/image/upload/c_scale,w_45/v1/MoneyGeek.com/Company%20Logos/miniFarmers.png)
![Farmers](https://res.cloudinary.com/moneygeek/image/upload/c_scale,w_45/v1/MoneyGeek.com/Company%20Logos/miniFarmers.png)
![State Farm](https://res.cloudinary.com/moneygeek/image/upload/c_scale,w_45/v1/MoneyGeek.com/Company%20Logos/miniStateFarm.png)
![Farmers](https://res.cloudinary.com/moneygeek/image/upload/c_scale,w_45/v1/MoneyGeek.com/Company%20Logos/miniFarmers.png)
Why Trust MoneyGeek? MoneyGeek used information from the Massachusetts Division of Insurance and Quadrant Information Services to obtain data on insurance rates, discounts and more.
These rates reflect the cheapest home insurance quotes in Massachusetts as of 2024.
Overall Cheapest Homeowners Insurance in Massachusetts
Farmers offers the cheapest home insurance in Massachusetts at an average of $517 per year for $100K in dwelling coverage. However, home insurance rates can fluctuate significantly based on dwelling coverage.
Across different dwelling coverages, Farmers ranks as the most affordable choice in Massachusetts. Review its rates:
- Cheapest for $100,000: Farmers at $517 per year
- Cheapest for $250,000: Farmers at $997 per year
- Cheapest for $500,000: Farmers at $1,734 per year
Find cheap home insurance with MoneyGeek's table to see how costs vary by dwelling coverage and provider.
- $100K Dwelling / $50K Personal Property / $100K Liability
- $1MM Dwelling / $500K Personal Property / $1MM Liability
- $250K Dwelling / $125K Personal Property / $200K Liability
- $500K Dwelling / $250K Personal Property / $300K Liability
- $750K Dwelling / $375K Personal Property / $500K Liability
- 2000
- 2023
Farmers | Annual Premium$517 |
State Farm | Annual Premium$564 |
Vermont Mutual | Annual Premium$736 |
Chubb | Annual Premium$760 |
Amica | Annual Premium$1,452 |
Allstate | Annual Premium$1,597 |
Travelers | Annual Premium$2,672 |
Compare Massachusetts Home Insurance Quotes Online
We recommend comparing quotes from multiple insurers to find the most affordable home insurance in Massachusetts. Use MoneyGeek's home insurance calculator to receive Massachusetts quotes without needing to submit your personal details at the outset.
Home Insurance Cost Calculator
MoneyGeek’s home insurance calculator will give you a ballpark estimate of your cost — it’s free, no personal information required, no spam.
Rates updated:
Jul 26, 2024
MoneyGeek partners with some of the companies we write about. However, our content is written and reviewed by an independent team of editors and licensed agents. Reference our data methodology and learn more about how we make money.
Cheapest Home Insurance in Massachusetts for High-Value Homes
In Massachusetts, Farmers is the most affordable home insurance provider for high-value homes, offering $750K in dwelling coverage at just $2,414 per year. High dwelling coverage increases home insurance costs, and high-value homes typically have higher limits.
Even for high-value homes, Farmers ranks as the cheapest home insurance company in the state. Check out its rates:
- Cheapest for $750,000: Farmers at $2,414 per year
- Cheapest for $1,000,000: Farmers at $3,004 per year
We recommend purchasing dwelling coverage that matches your home's replacement cost, not property value, to avoid under or over-insuring. See how rates change for home insurance with higher coverage limits.
- $1MM Dwelling / $500K Personal Property / $1MM Liability
- $750K Dwelling / $375K Personal Property / $500K Liability
- 2000
- 2023
Farmers | Annual Premium$2,414 |
Vermont Mutual | Annual Premium$3,153 |
Allstate | Annual Premium$3,847 |
State Farm | Annual Premium$4,523 |
Amica | Annual Premium$5,447 |
Chubb | Annual Premium$5,849 |
Travelers | Annual Premium$8,177 |
Cheapest Home Insurance in Massachusetts for New Homes
With an annual premium of $250, State Farm is the cheapest home insurance provider in Massachusetts for new homes, specifically for $100K in dwelling coverage. New properties in Massachusetts generally have more affordable insurance rates, largely due to their modern construction techniques and materials, which are less likely to sustain heavy damage.
State Farm is consistently the most affordable option for new homes in Massachusetts. Take a look at the rates for various dwelling coverage levels:
- Cheapest for $100,000: State Farm at $250 per year
- Cheapest for $250,000: State Farm at $313 per year
- Cheapest for $500,000: State Farm at $613 per year
Examine MoneyGeek's table to get a comprehensive understanding of how insurance costs may shift for newly constructed homes based on different dwelling coverages.
- $100K Dwelling / $50K Personal Property / $100K Liability
- $1MM Dwelling / $500K Personal Property / $1MM Liability
- $250K Dwelling / $125K Personal Property / $200K Liability
- $500K Dwelling / $250K Personal Property / $300K Liability
- $750K Dwelling / $375K Personal Property / $500K Liability
State Farm | Annual Premium$250 |
Farmers | Annual Premium$292 |
Vermont Mutual | Annual Premium$566 |
Chubb | Annual Premium$623 |
Allstate | Annual Premium$816 |
Amica | Annual Premium$981 |
Travelers | Annual Premium$1,184 |
Cheapest Home Insurance in Massachusetts With a Claims History
State Farm is the most affordable option in Massachusetts for homeowners who have filed a single claim in the last five years, offering a policy with $100K in dwelling coverage for $644 per year. Bear in mind that insurance premiums tend to be higher for homeowners with prior claims, as this often signals a higher risk for future claims.
Here's a roundup of the cheapest options for different dwelling coverage values with the same claim and construction year conditions:
- Cheapest for $100,000: State Farm at $644 per year
- Cheapest for $250,000: Vermont Mutual at $1,535 per year
- Cheapest for $500,000: Farmers at $2,698 per year
Additional claims can significantly increase your premiums. Across all companies, homeowners with two past claims pay an average of $531 more each year than those who are claims-free. Maintaining your home and avoiding claims is critical to keeping your insurance costs down in Massachusetts.
- 1 claim in past 5 years
- Claim free for 5+ years
- 2 claims in past 5 years
- 2000
- 2023
- $100K Dwelling / $50K Personal Property / $100K Liability
- $1MM Dwelling / $500K Personal Property / $1MM Liability
- $250K Dwelling / $125K Personal Property / $200K Liability
- $500K Dwelling / $250K Personal Property / $300K Liability
- $750K Dwelling / $375K Personal Property / $500K Liability
State Farm | Annual Premium$644 |
Farmers | Annual Premium$805 |
Chubb | Annual Premium$824 |
Vermont Mutual | Annual Premium$917 |
Amica | Annual Premium$1,753 |
Allstate | Annual Premium$2,370 |
Travelers | Annual Premium$2,888 |
Cheapest Home Insurance in Massachusetts by Home and Roof Materials
The type of construction and roofing materials used in your home directly influence the price of your home insurance policy. For instance, for a frame-construction home with a shake-treated roof, Farmers offers the lowest premium in Massachusetts at $517 per year. The frame construction and shake-treated roof features are linked to higher insurance prices due to their associated risks, such as susceptibility to fire or weather damage.
Here are the most affordable insurers in Massachusetts across various coverage levels for the same home:
- Cheapest for $100,000: Farmers at $517
- Cheapest for $250,000: Farmers at $997
- Cheapest for $500,000: Farmers at $1,734
In comparison, homes with superior construction and tile roofs have lower average premium costs, saving about $143. These building features decrease the risk factor, leading to insurance savings. This is particularly significant in Massachusetts, given its severe weather conditions. Investing in high-quality construction and roofing directly translates to significant annual savings on insurance costs.
- Frame
- Superior
- Masonry
- Composition
- Shake-Treated
- Tile
- $100K Dwelling / $50K Personal Property / $100K Liability
- $1MM Dwelling / $500K Personal Property / $1MM Liability
- $250K Dwelling / $125K Personal Property / $200K Liability
- $500K Dwelling / $250K Personal Property / $300K Liability
- $750K Dwelling / $375K Personal Property / $500K Liability
Farmers | Annual Premium$517 |
State Farm | Annual Premium$564 |
Vermont Mutual | Annual Premium$736 |
Chubb | Annual Premium$760 |
Amica | Annual Premium$1,452 |
Allstate | Annual Premium$1,573 |
Travelers | Annual Premium$2,672 |
Cheapest Home Insurance in Massachusetts by Deductible
Changing your deductible can save you hundreds each year. In Massachusetts, Farmers offers the most affordable home insurance with a $2,000 deductible at $491 per year, compared to $573 for a $500 deductible, also provided by Farmers.
For $100K in dwelling coverage, the cheapest insurers are:
- $2,000 deductible: Farmers at $491 per year
- $1,500 deductible: State Farm at $502 per year
- $1,000 deductible: Farmers at $517 per year
- $500 deductible: Farmers at $573 per year
A deductible is your out-of-pocket cost before your insurance kicks in. Massachusetts home insurance costs an average of $233 less with a $2,000 deductible versus a $500 deductible.
- 500
- 1000
- 1500
- 2000
- $100K Dwelling / $50K Personal Property / $100K Liability
- $1MM Dwelling / $500K Personal Property / $1MM Liability
- $250K Dwelling / $125K Personal Property / $200K Liability
- $500K Dwelling / $250K Personal Property / $300K Liability
- $750K Dwelling / $375K Personal Property / $500K Liability
- 2000
- 2023
Farmers | Annual Premium$491 |
State Farm | Annual Premium$502 |
Chubb | Annual Premium$636 |
Vermont Mutual | Annual Premium$652 |
Amica | Annual Premium$1,325 |
Allstate | Annual Premium$1,394 |
Travelers | Annual Premium$2,415 |
Cheapest Home and Auto Bundle Insurance in Massachusetts
State Farm offers the most affordable home and auto bundle policy in Massachusetts, with an annual premium of only $1,197. Bundling home and auto insurance together can lead to significant savings.
- State Farm at $1,197 per year
- Allstate at $3,443 per year
Additionally, bundling results in savings and provides the convenience of dealing with one insurer for both policies. The ease of managing two essential policies with a single company facilitates a seamless insurance experience. Explore the best Massachusetts insurance bundles.
State Farm | Annual Premium$1,197 |
Allstate | Annual Premium$3,443 |
Travelers | Annual Premium$5,322 |
Cheapest Home Insurance in Massachusetts by City
Farmers is the most affordable home insurance provider in most Massachusetts cities. Costs by city can vary significantly due to factors including local building codes, crime rates and weather risks. For instance:
- Worcester has the lowest annual premium for its cheapest company, State Farm, at $399.
- Lowell has the highest annual premium for its cheapest company, Farmers, at $493.
It's crucial to shop around as insurers often have unique rate calculations for various areas, which could result in potential savings.
Boston | Cheapest CompanyFarmers | Annual Premium$486 |
Cambridge | Cheapest CompanyFarmers | Annual Premium$459 |
Lowell | Cheapest CompanyFarmers | Annual Premium$493 |
Springfield | Cheapest CompanyState Farm | Annual Premium$405 |
Worcester | Cheapest CompanyState Farm | Annual Premium$399 |
About Mark Fitzpatrick
![Mark Fitzpatrick headshot](https://res.cloudinary.com/moneygeek/image/upload/c_scale,q_auto:eco,f_auto,fl_lossy,w_160/v1613177245/Image_from_i_OS_825d26269a.jpg)
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.