The Best Homeowners Insurance in Massachusetts – NerdWallet
Best homeowners insurance companies in Massachusetts
several of NerdWallet ‘s Best Home Insurance Companies offer policies in Massachusetts. here they are, along with their modal annual premiums :
| caller | NerdWallet rat | average annual bounty |
|---|---|---|
| Amica |
4.5 NerdWallet rat
NerdWallet’s ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service. |
$ 1,379 . |
| Chubb |
5.0 NerdWallet rat
NerdWallet’s ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service. |
$ 1,455 . |
| The Hanover |
4.5 NerdWallet rate
NerdWallet’s ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service. |
$ 2,642 . |
| Travelers |
4.5 NerdWallet rate
NerdWallet’s ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service. |
** |
| USAA* |
Read more: The Best Car Insurance Companies for 2022
4.5 NerdWallet rate
NerdWallet’s ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service. |
$ 1,235 . |
| *USAA homeowners policy is available lone to active military, veterans and their families . | ||
| **NerdWallet confirmed with the ship’s company that it offers policies in Massachusetts, but pace information was unavailable . | ||
You can customize your homeowners policy with numerous add-ons, but below are the types of coverage that by and large come standard :
| type of coverage | What it does |
|---|---|
| Dwelling | Pays to repair or rebuild the structure of your home . |
| other structures | Covers damage to unattached structures such as a caducous or fence . |
| personal property | Pays to repair or replace personal belongings such as furniture or clothe . |
| extra surviving expenses | Pays for hotel stays, restaurant meals or other expenses if you have to live elsewhere while your home undergoes covered repairs . |
| indebtedness | Covers legal expenses and damages if you ‘re responsible for injuries to early people or their property . |
| medical payments | Covers injuries to guests in your home, careless of fault . |
For more details, see Homeowners indemnity : What it is and what it covers. here ‘s a little bite more about each caller and the extras they offer.
Amica
Amica gives homeowners respective relatively easy ways to save money, such as discounts for receiving bills electronically and signing up for automatic bill pay. You can besides potentially get cash back at the end of your policy period by signing up for Amica ‘s dividend policies, which can pay out 5 % to 20 % of the policy ’ s annual agio if the caller performs well.
Chubb
Although Chubb is one of the more expensive insurers in the state of matter, its standard policy includes coverage options for which others much charge supernumerary. For example, homeowners who buy Chubb ‘s Masterpiece policy can receive the fully amount it costs to replace damaged or destroyed personal items rather than the items ‘ depreciated value.
The Hanover
The Hanover offers several base policy packages, some of which include helpful features like reimbursement for replacing your locks after losing your keys, or paying to remove debris after a overlay event. It ’ ll besides waive your deductible if a loss is more than $ 50,000.
Travelers
Travelers ‘ standard policy does not come with some of the coverage options provided by early insurers. Travelers does, however, offer alone add-ons such as fleeceable family coverage that can help cover the cost of using sustainable materials to rebuild or repair your home.
USAA
If you ‘re an active military member or a veteran, or are a family extremity of one, USAA offers several benefits that normally cost extra from other insurers. Identity larceny coverage and substitution cost for damaged or stolen personal items are barely two of the benefits available to policyholders in most states.
Cheapest homeowners insurance rates in Massachusetts
NerdWallet looked at the rates from each insurance company in 578 ZIP codes in Massachusetts to find the lowest home policy premiums in the state. We found a statewide average annual agio of $ 1,205, but your rate may vary depending on where you live. The difference between the cheapest and most expensive rates in Massachusetts was over $ 1,500 per class. hera are the five cheapest homeowners policy rates in Massachusetts :
| company | average annual premium |
|---|---|
| quincy Mutual | $ 637 . |
| Preferred reciprocal | $ 685 . |
| MetLife | $ 860 . |
| Arbella | $ 872 . |
| Vermont Mutual | $ 894 . |
And here ‘s a expression at all the available rates :
What to know about homeowners insurance in Massachusetts
here are a few things you ‘ll want to keep in mind as you evaluate your options for home policy in Massachusetts :
- You may be subject to a “ hurricane deductible. ” Massachusetts has been hit by many major storms — including hurricanes — and if it happens again, homeowners may have to pay a hurricane deductible before their policy will kick in. This deductible is a share of your home plate ‘s insured prize rather than a flat dollar measure. then if your home is insured for $ 300,000 with a 5 % deductible, you have to pay the first $ 15,000 of damage from a storm before your insurance company will give you a penny .
- You should besides consider flood insurance. Flood damage is not typically covered by homeowners policy, so you ‘ll probably need a offprint flood tide indemnity policy in holy order to be covered. That can be a good mind specially if you live on the seashore or in an sphere prone to flood, but your home might besides be vulnerable to flooding without you knowing it. The Federal Emergency Management Agency ‘s deluge maps can help give you the flood risk at your specific address.
- Your rate will vary depending on where you live. popular seaside destinations Cape Cod, Martha ‘s Vineyard and Nantucket besides have the most expensive home policy in the state, and overall rates become cheaper the farther you get from the coast. To see the average pace where you live, here ‘s a look at the county-by-county breakdown :
Looking for more policy ? Check out NerdWallet ‘s lead to the cheap car indemnity in Massachusetts .