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Boston, MA Homeowners Insurance Quotes (2022)

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Jackie Cohen

By: Jackie Cohen

Edited by John Leach

Last Updated February 28, 2022

Why you can trust Insurify

Insurify partners with top insurance companies and is a licensed agent in all 50 states. However, the insurance experts writing our content operate independently of our partners. Check out reviews from over 3,000 satisfied customers, how we make money, our data methodology, and our editorial standards.

Boston, MA Homeowners Insurance

Beautiful Beantown. Boston, the coastal capital of Massachusetts, and the surrounding cities and regions of Cambridge, Quincy, and the North and South shores are known for top educational institutions, seafood galore, and beautiful (expensive) real estate. With strong winter storms, frequent coastal flooding, and high risks of other natural disasters, homes in the Boston and Cambridge area are often very expensive to insure. But avoiding home insurance isn’t the way to cut costs. The first step to responsible homeownership is sufficient homeowners insurance with coverage levels that meet your unique situation.

To compare quotes from top homeowners insurance companies with your customized coverage options and dwelling coverage, use Insurify, the best comparison platform on the internet.

Cheapest Home Insurance Companies in Boston

For homeowners in Boston, it's important that you evaluate all of your potential insurance options to ensure you are finding the best rate. Comparing the right insurance companies will allow you to get the best possible insurance rate for your home.

To simplify comparing companies, Insurify has analyzed rates from top insurance providers in Boston. The following are the best insurance rates from carriers that offer homeowners insurance in Boston.

Cheapest CompaniesQuotes
Commerce Insurance$786
State Farm$839

How to Find Cheap Home Insurance in Boston

Buying a home may be one of the largest financial investments of your lifetime. With investment, inevitably, comes risk. In areas with high rates of natural disasters and strong storms like Eastern Massachusetts, the best homeowners insurance policy might not always be the cheapest. However, there are steps homeowners can take to minimize risk and protect their investment.

The first step to protecting your property is homeowners insurance. Though not required by law, home insurance provides financial liability for your property and belongings from natural disasters or theft. Different coverage levels are available for different property types, locations, and other factors. One tip Boston homeowners should use to cut their home insurance premiums is to try bundling their insurance products. Bundling more than one insurance policy with the same insurance company can help cut back your living expenses without skimping on your insurance needs. If you combine your home and car insurance options, you can save big on insurance costs. Talk to your insurance provider about what other products you can combine with your home insurance policy to save money.

Keep reading for a full guide on Boston home insurance.

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Cheapest Home Insurance in Boston by Company

Homeowners insurance rates aren’t always designed with savings in mind. That’s where Insurify comes in. Our free home insurance comparison tool allows you to find the best policy for the best rate fast. And your information stays private and protected.

As of 2021, the average home insurance premium in Massachusetts costs $1,177 annually, and the median home value is $644,743 in Boston and $868,090 in Cambridge.

That’s a lot of money. How can you be expected to pay all of these costs (vital as they are) and still provide for you and your family?

Average Home Cost in Boston Average Annual Insurance Premium in Boston

Average Annual Home Insurance Premium in Boston by Company

Average prices for standard homeowners insurance for a 7-15 year old home, $200,000 in coverage

Commerce Insurance
State Farm
Andover Companies
Arbella Insurance
Narragansett Bay
Plymouth Rock Assurance

Cheapest Neighborhoods in the Boston Area for Home Insurance

Like property costs, home insurance varies in price from city to city. Pricing is determined on ZIP code–specific variables, such as the volume of claims filed nearby, crime rates, and property costs, and risk variables, such as natural disaster frequency. Even your specific neighborhood may determine if you pay more or less on our annual premiums.

Rates in Boston can be relatively high or low compared to the national average; it all depends on which town you live in.

Home Insurance Coverage Types in Boston

There are several types of home insurance. Specific terms of insurance policies may vary by city, but in general, the standard policy types are as follows:

  • The simplest and least comprehensive type of homeowners insurance

    Provides coverage for a handful of potential problems including

    • natural disasters (storms, fires, wind, lightning, volcanic eruption),
    • explosions,
    • theft,
    • damage from vehicles,
    • or civil commotion.
  • Broad form homeowners insurance policies include all basic form coverage, plus protection from:

    • falling objects,
    • damage from the weight of ice, snow, or sleet,
    • freezing of household systems including HVAC and pipes,
    • sudden and accidental damage to pipes and other household systems or from artificially generated electrical current,
    • accidental discharge or overflow of water or steam,
    • sudden and accidental damage

    HO-2 policies typically cover both dwelling protection and personal property

    In some cases, broad form coverage may also include liability coverage. However, they still only cover the specific damages listed in the policy

  • The most common form of homeowners insurance is known as “special form” policies.

    While HO-1 and HO-2 policies are “named peril” policies (meaning they only cover dangers that are specifically listed in the policy), HO-3 policies are “open peril” policies, meaning they’ll cover all dangers except those specifically excluded in the policy documents

  • HO-4 policies, also known as renters insurance, are for people who lease rather than own their homes.

    Tenant’s form policies typically cover all the same dangers as HO-2 policies.

    These policies include personal property coverage and liability coverage but don’t cover the physical structure of the house.

    Some HO-4 policies may also include loss of use coverage for the tenants.

  • Comprehensive form policies are usually the broadest and provide the highest level of coverage; not surprisingly, they also tend to be the most expensive type of homeowners insurance policy.

    The biggest difference between HO-3 and HO-5 policies is that most HO-3 policies are “actual cash value” policies, whereas typically HO-5 policies are “replacement cost value” policies.

    An actual cash value policy will only reimburse you for the actual value of a damaged or destroyed item, while a replacement cost value policy will reimburse you for however much it would cost to completely replace or repair the damaged or destroyed item (up to the coverage limits on the policy).

    HO-5 policies also provide personal property coverage against a wider range of dangers than the typical HO-3 policy. Many HO-5 policies also have extra coverage for high-value personal property, such as jewelry and artwork.

  • Not surprisingly, condo form insurance is for condominium owners. HO-6 policies generally protect against the same types of dangers as HO-3 policies.

    They provide dwelling protection coverage with a twist: HO-6 policies cover the walls, floors, and ceiling of the condo unit but not the rest of the building.

    These policies also include personal property and liability coverage and may include loss of use coverage.

  • If you own a mobile home or manufactured home, you likely have an HO-7 policy.

    Mobile home form policies are typically identical to HO-3 policies, except they’re designed specifically for mobile and manufactured homes.

    Like HO-3 policies, they provide dwelling protection coverage, other structures coverage, personal property coverage, liability coverage, and possibly loss of use coverage as well.

    HO-7 policies generally only protect the home when it’s stationary; if you plan to move your mobile or manufactured home, you’ll need to get a special policy to cover it while it’s in transit.

  • Older homes have generally been built to less stringent code standards than recently built homes, so insurers have designed a specialized type of homeowners insurance policy for them.

    HO-8 policies often only cover the basic perils listed in HO-1 policies and generally apply to homes that are registered landmarks or otherwise deemed historic homes.

    Owners of registered landmarks are typically forbidden from updating HVAC, electrical, and other parts of the home that would enable them to qualify for a standard HO-3 policy, so an HO-8 policy is often the only option for them.

For more detailed Massachusetts city level guides, check out these below.

Flood Coverage and Home Insurance in the Boston Area

The best homeowners policies for Boston-area homeowners will include some kind of flood insurance coverage. Most standard insurance policies do not include all-encompassing coverage to financially protect homeowners from damage done by floods. Most insurance carriers will offer supplemental insurance add-ons which will provide sufficient flood insurance coverage. To better protect personal belongings, homeowners in the bay area of the Bay State will find this supplemental coverage worth the extra cost in the long run. The National Flood Insurance Program is an excellent option for homeowners looking to protect themselves from flood damage.

Insurance Bundling Options for Boston Area Homeowners

The best way to save on homeowners insurance is to bundle your policy with another insurance product you’re already paying for. Think of it like going to a big box store—the more you buy, the more you save. Home insurance companies love customer loyalty and reward this loyalty with big discounts. To lower your insurance quote, see how much you can save by combining it with your auto insurance, boat insurance, life insurance, or business insurance—whatever you need. The more you bundle, the more your home insurance rates will fall, along with all your other premiums.

How to Find the Cheapest Home Insurance in Boston

With a little work, comes big rewards. Don’t settle for the first homeowners insurance quote you see. Shopping for insurance has never been easier.
Use Insurify, the best way to compare home insurance , to compare home insurance premiums for your property in the city and the Greater Boston area.

Frequently Asked Questions

  • Due to the high frequency of blizzards in the winter and high winds and flooding from tropical storms in the summer, homeowners in the Boston area may see higher homeowners insurance rates than the national average. Even if you’re trying to cut costs, its important to not lower your coverage limitations too much, as these are meant to protect your wallet after disaster strikes.

  • Yes, USAA offers Boston area homeowners insurance policies. It’s important to note that USAA has strict eligibility requirements for its policyholders: they must be active-duty military, veterans, or family members. If eligible, USAA offers some of the most competitive insurance premiums in the area. If you’re a veteran or active duty, this might be the best home insurance for you.

  • Depending on the type and severity of an insurance claim, they may take a few days to a few weeks from start to finish. If a disaster happens in your area, the insurance company may be facing a huge volume of insurance claims from you and all your neighbors. In these situations, filing home insurance claims may be a slower process. Be sure to keep notes and records of your communication with your insurance agent to keep track of any progress you’ve made.

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Jackie Cohen
Jackie Cohen

Insurance Content Project Manager

Jackie Cohen is an insurance content project manager at Insurify specializing in property & casualty insurance educational content. She has years of experience analyzing insurance trends and helping consumers better understand their insurance coverage to make informed decisions about their finances.

Jackie's work has been cited in USA Today, The Balance, and The Washington Times.

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