National Association of Real Estate Editors member
Bylines include Forbes, Bankrate, and CBS News
Aly is a reporter specializing in real estate, mortgages, and personal finance. You can find her work in Hearst newspapers and numerous financial publications.
5+ years in insurance and personal finance content
Ashley is a seasoned personal finance editor who’s produced a variety of digital content, including insurance, credit cards, mortgages, and consumer lending products.
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The average annual cost of home insurance in Massachusetts is $1,863 for a policy with a $300,000 in dwelling coverage and a $1,000 deductible, according to Insurify data.
Having comprehensive home insurance coverage is critical in Massachusetts, as the state has seen increased extreme weather events over the last few decades. The state experienced 23 weather-related disasters between 1990 and 2019. Heavy downpours alone increased 71% from 1958–2010.[1]
AIG and Narragansett Bay Insurance have the cheapest home insurance in Massachusetts, with premiums averaging well under $1,000 annually.
Massachusetts home insurance for $300,000 in dwelling coverage is more than $500 cheaper than the national average of $2,377 per year for the same coverage level.
Standard home insurance policies don’t cover flood damage, so you may want to add a flood policy to your coverage in Massachusetts if you live in a high-risk area.
Best home insurance companies in Massachusetts
Many insurance companies offer home insurance coverage in Massachusetts. The right one for your household will depend on your needs, budget, and preferences. Here’s a look at some of the top insurers.
Insurance Company
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
Average Annual Premium
Best For
AIG
N/A
$755
Cheapest rates
Narragansett Bay
N/A
$809
Personalized coverage
State Farm
4.1
$1,437
Discounts
USAA
4.0
$1,550
Customer service
Our editorial team spent more than 350 hours developing the Insurify Quality (IQ) Score and scoring insurance companies. The IQ Score objectively analyzes and calculates a score for insurers using more than 15 crucial criteria. The team weighted criteria by importance to the consumer — factors such as customer reviews and affordability influence the score more than availability and third-party ratings.
We rate each company on a 1 to 10 scale based on five categories: financial ratings, customer satisfaction, affordability, customer support and transparency, and availability. Insurify updates ratings once a year or as more recent information becomes available.
Third-party financial ratings: Insurify uses data from AM Best, S&P, Moody’s, and more to compare insurance companies’ credit and ability to pay out future claims.
Customer satisfaction: To calculate this score, Insurify analyzed more than 28,000 customer reviews across 155 car insurance companies. We also consider third-party ratings from J.D. Power, the National Association of Insurance Commissioners, and Trustpilot.
Affordability: Our data scientists analyzed more than 90 million real-time auto insurance rates from our partners across the U.S., as well as available discounts, to calculate an affordability score.
Customer support and transparency: This measures coverage options, ease of claims filing, and the insurer's transparency surrounding discounts, coverages, and claims process.
Availability and reach: Insurify scores availability and reach by identifying the number of states in which insurers offer coverage and company size by market share.
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
NR
$300,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$63/mo
$500,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$109/mo
If you’re looking to minimize the costs of insuring your Massachusetts home, AIG is one of the best insurance companies to consider. The company’s average annual premium (for $300,000 in coverage) is just $755 per year.
AIG even offers help with water damage prevention — something important in a state with increased flooding events — and has cyber protection add-ons to protect your identity and assets online, too.
Pros
Cheapest premiums in Massachusetts
Available add-on protections against water damage, cyber threats, and more
Cons
Policies not available online
Only for high-value homes/high-net-worth homeowners
Best insurer for personalized coverage: Narragansett Bay
For more hands-on, personalized insurance guidance in Massachusetts, Narragansett Bay is a good option. In addition to its wide range of coverages (including flood insurance policies), the company also offers its ShelterPride program.
With this program, a Narragansett representative visits your home to ensure you have the proper coverage for all its features and elements, based on the current market prices and replacement costs. If they find your home is over-insured, you may see a reduction in your premium.
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
9.3/10
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
842
$300,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$121/mo
$500,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$176/mo
If you’re looking to reduce your premium through discounts, State Farm is a great choice for homeowners insurance in Massachusetts. The company offers discounts for bundling your insurance with other policies; having fire, smoke, burglar, or other security alarm systems installed in your home; and installing certain roofing products.
State Farm also has the sixth-lowest average premium out of all 24 insurers Insurify analyzed in Massachusetts.
Pros
Above-average J.D. Power customer satisfaction rating
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
9.4/10
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
880
$300,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$133/mo
$500,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$185/mo
If you’re eligible for USAA coverage in Massachusetts, you may want to consider it, as the company has the highest J.D. Power customer satisfaction ratings around. The company scored 881 out of 1,000 on J.D. Power’s 2023 U.S. Home Insurance Study — higher than all other insurance companies analyzed.
USAA also offers a wide range of available discounts, and you can file a claim online.
Pros
High customer satisfaction ratings
Many available discounts
Cons
Not all homeowners are eligible
Higher premiums than some other insurers
Cheapest home insurance in Massachusetts
Whether you’re in Boston, Cape Cod, or somewhere in between, the cheapest home insurance company in Massachusetts is AIG. Its average annual premium is $755, and its monthly premium is just $63 for $300,000 in dwelling coverage.
In the table below, you can see how AIG measures up to other affordable insurers in Massachusetts.
Insurance Company
Average Annual Premium
AIG
$755
Narragansett Bay
$809
Commerce Group
$1,006
Universal P&C
$1,209
Andover Companies
$1,322
State Farm
$1,437
Safety Group
$1,476
Quincy Mutual
$1,527
USAA
$1,550
Vermont Mutual
$1,550
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Cost of homeowners insurance in Massachusetts
The average cost of homeowners insurance for $300,000 in dwelling coverage is $1,863 annually in Massachusetts, according to Insurify data. The national average for the same amount of coverage is $2,377.
Good to Know
The exact premium you’ll pay for your home could be more or less depending on the types and amounts of coverage you choose, your ZIP code, your insurer, the deductible on the policy, your home’s size and features, and the discounts you’re eligible for.[2]
Cost of homeowners insurance by dwelling coverage amount
The more dwelling coverage you select, the higher your home insurance premiums will be. This is because your insurer takes on more of the responsibility and will have to pay out more if your home is a total loss and you have to rebuild.
Below, you can see how the coverage limit you select can affect how much you’ll pay for home insurance coverage.
Coverage Limit
Average Annual Premium
$100,000
$933
$200,000
$1,405
$300,000
$1,863
$400,000
$2,342
$500,000
$2,839
Cost of homeowners insurance by deductible
Your home insurance deductible is the amount you must pay out of pocket before your insurance company will kick in and cover a claim. The higher the deductible you choose (meaning you pay more if you file a claim), the lower your home insurance premium will usually be.
Deductible Amount
Average Annual Premium
$500
$1,927
$1,000
$1,863
How to get cheap homeowners insurance in Massachusetts
You have many ways to reduce your home insurance premium and pay less to protect your property. Some common strategies you might want to try include:[3]
Choose a higher deductible. You can opt for a policy with a higher deductible, as this lessens the risk for the insurer and will qualify you for a lower premium. Just keep in mind that you’ll be on the hook for more money if you file a claim, so be sure to have a stocked emergency fund to be safe.
Bundle your insurance policies. Most insurance companies will give you a discount if you have multiple lines of insurance with them. This means taking out your car and home insurance with the same company — or maybe your renters or life insurance, too.
Make your home safer. Making your home safer — and more resistant to damage and burglary — can reduce your premiums. You can add a security system or fire alarm, install hurricane windows, install a stronger door, or make other updates. Ask your insurance agent if they have any recommendations for safeguarding your house.
Compare insurance companies. Every insurance company approaches risk and pricing differently, so premiums can vary widely from one insurer to the next. To make sure you’re getting the lowest premiums possible, get quotes from several companies before settling on a Massachusetts homeowners insurance policy. You should also compare the discounts each insurer offers, as these can also lower your premium considerably.
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How much homeowners insurance do you need in Massachusetts?
If you used a mortgage loan to purchase your home, your lender probably required you to have an insurance policy on the property. This protects the lender’s investment and ensures the property’s repair or replacement in the event of damaged or burglary.
That exact amount of coverage you need depends on the value of the house and the personal property you have in it, like furniture, clothes, and jewelry. You’ll typically want enough coverage to rebuild or repair your home — or any other structures on the property — in case of damage and to replace any personal belongings affected as well.
Standard homeowners insurance policies also include some level of liability protection and will cover living expenses if you’re displaced while your home undergoes repairs. Insurers refer to this as loss of use coverage.[4]
What are some of the biggest risks when owning a home in Massachusetts?
The most common weather and climate-related events in Massachusetts have been severe storms, floods, and winter storms, so you’ll want to make sure your home is properly insured against these.[5]
Severe storms
Since 1980, 13 severe storms and nine tropical cyclones in Massachusetts have each caused at least $1 billion in damage. A standard home insurance policy typically covers property damage caused by hail or wind in these types of storms. But it won’t cover damage from flooding.
Floods
Massachusetts has seen four billion-dollar flooding events since 1980. To protect against these, you may want a flood insurance policy — a separate type of policy that covers storm-related flood damage. You can get a flood insurance policy through FEMA’s National Flood Insurance Program or some private insurers.
Winter storms
Massachusetts has experienced 15 billion-dollar winter storms since 1980. Though a standard HO-3 policy will cover damage caused by heavy snowfall, freezing rain, or severe cold, you may also want a flood insurance policy to cover any flooding caused by ice or snow melt.
Massachusetts homeowners insurance FAQs
If you’re shopping for home insurance in Massachusetts, this additional information may help as you research your coverage options.
How much is home insurance in Massachusetts?
Home insurance in Massachusetts costs an average of $1,863 per year for a policy with a $1,000 deductible and $300,000 in dwelling coverage, according to Insurify data.
Many factors affect the price of a policy, including your location, the age and square footage of your home, and coverage levels you choose.
Which company has the cheapest homeowners insurance in Massachusetts?
AIG has the cheapest homeowners insurance in Massachusetts, with annual premiums of $755 per year, or $63 per month.
Narragansett Bay and Commerce Group also offer affordable coverage, with respective annual premiums of $809 and $1,006.
Does Massachusetts require homeowners insurance?
No. Massachusetts doesn’t require homeowners insurance. But if you have a mortgage on your home, your lender will require you to have it to protect its investment.
Carrying home insurance coverage is important even if you don’t have a mortgage because it protects you financially if something damages or destroys your home and you have to make extensive repairs.
What is the most common home insurance coverage?
The most common type of home insurance coverage is an HO-3, or standard homeowners insurance policy. It covers your home, other structures, your belongings, and liability coverage if someone injures themselves on your property.
Aly J. Yale is a freelance writer and reporter covering real estate, mortgages, and personal finance. Her work has been published in Forbes, Business Insider, Money, CBS News, US News & World Report, and The Miami Herald. She has a bachelor’s degree in radio-TV-film and news-editorial journalism from the Bob Schieffer College of Communication at TCU and is a member of the National Association of Real Estate Editors.
5+ years in insurance and personal finance content
Ashley is a seasoned personal finance editor who’s produced a variety of digital content, including insurance, credit cards, mortgages, and consumer lending products.
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