Best & Cheapest Homeowners Insurance in Boston, MA April, 2024

Homeowners in Boston can benefit from the most affordable homeowners insurance rates with State Farm, offering an average annual quote of $1,692.

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Updated: 19 March 2024
Written by
Bob Phillips
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In our thorough assessment of homeowners insurance providers in Boston, MA, State Farm stands out as the most cost-effective option, featuring average annual rates of $1,692. It’s important to note that the best insurer for you may vary based on your unique circumstances and requirements.

On the other hand, if you own a newly constructed home, State Farm remains the most economical choice at $1,813 per year. Conversely, for older homes, Chubb takes the lead with competitive rates of $2,310 per year and comprehensive coverage.

For individuals with a history of claims, Chubb offers an affordable and understanding solution at $2,879 per annum. Lastly, if you possess valuable personal property that requires protection, State Farm once again proves to be the top choice, providing extensive coverage at a reasonable $2,527 per year.

Our in-depth analysis at Insuranceopedia is crafted to assist you in finding the perfect fit for your homeowners insurance needs. Through the comparison of customer ratings, analysis of personal experiences, and presentation of comparison charts, we aim to provide you with all the information necessary to make an informed decision.

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How much is homeowners insurance in Boston, MA?

State Farm provides the most affordable rate for homeowners insurance in Boston at $1,692 annually.

As evident below, rates in Boston are higher than the national average. They are also elevated compared to the average rate for the state of Massachusetts.

Area Average Monthly Rate
National $1,820
Massachusetts $2,872
Boston $4,325

It’s crucial to understand that insurance rates are not a one-size-fits-all matter. They can vary significantly based on a myriad of factors.

For example, your personal driving history plays a pivotal role; a record filled with traffic violations or accidents will likely lead to higher premiums than a clean slate. The type and model of your vehicle also come into play, as high-performance or luxury cars typically cost more to insure.

Cheapest Homeowners Insurance in Boston, MA

Cheapest Homeowners Insurance, Boston,2024

Our Methodology

To identify the most affordable home insurance rates in Boston, we examined data from various home insurance review sites. Some of these sites analyzed rates obtained from public filings provided by Quadrant Information Services. While this review incorporates an average of those rates, it's important to note that each company's rates are subject to frequent changes and may vary based on individual circumstances. The overall rating also takes into account my subjective opinion, drawn from fifteen years of experience as a licensed insurance agent and over three decades of purchasing home insurance.

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Quotes Analyzed

15+

Years Of Industry Experience

24

Brands Reviewed

40+

Research Hours

Cheapest homeowners insurance in Boston, MA

State Farm stands out as the most cost-effective overall option for homeowners insurance in Boston, MA, offering an average annual rate of $1,692.

Company Annual Premium
State Farm $1,692
AIG $1,897
USAA $2,845
Chubb $3,340
Allstate $3,768

The price of your policy is influenced by various factors, including location, home value, and your claims history. State Farm provides a balanced combination of affordability and comprehensive coverage.

Cheapest Homeowners Insurance In Boston If You Have an Older Home

For individuals with older homes, Chubb provides the most affordable rates, averaging $2,310 per year.

Insurance Company Average Annual Premium
Chubb $2,310
USAA $2,399
Amica $2,762
PURE $2,971
Hanover $4,795

Older homes often come with unique risks and maintenance issues, which can drive up insurance costs. Chubb addresses these concerns by offering competitive rates and comprehensive coverage tailored to meet the specific needs of older homes.

Cheapest Homeowners Insurance for Newly Constructed Homes

If you own a newly constructed home, State Farm provides the most cost-effective solution, with an average annual rate of $1,813.

Insurance Company Average Annual Premium
State Farm $1,813
USAA $2,642
Allstate $3,278
Travelers $3,830
Chubb $6,592

Newly constructed homes often demand different coverage compared to older ones, and State Farm excels in providing affordable policies customized to address these specific requirements.

Cheapest Home Insurance In Boston for a History of Claims

For homeowners with a history of claims, Chubb provides an affordable solution, with an average annual rate of $2,879.

Insurance Company Average Annual Premium
Chubb $2,879
USAA $3,386
Foremost $3,742
Amica $4,337
Plymouth Rock $4,560

Having a history of claims can often signal higher risk to insurers, resulting in elevated premiums. However, Chubb believes in offering second chances and provides reasonable rates for individuals with past claims.

Cheapest Home Insurance Rates for Lots of Personal Property

If you possess a wealth of personal property, Allstate offers the most affordable rates, with an average annual rate of $2,527.

Insurance Company Average Annual Premium
State Farm $2,527
AIG $3,682
Travelers $5,012
Allstate $5,138
Chubb $7,490

The more personal property you have, the higher your coverage needs, which can lead to increased premiums. State Farm provides extensive coverage at reasonable rates, ensuring that all your belongings are adequately protected.

Best Homeowners Insurance Companies in Boston, MA

Selecting the right homeowners insurance is not just a necessity; it’s a strategic decision. With a rich history, Boston’s homes are as unique as its residents. Therefore, finding an insurance provider that offers comprehensive coverage at competitive rates becomes paramount.

To simplify your decision-making process, we’ve compiled a list of the top homeowners insurance companies in Boston, MA. These companies have been evaluated based on their annual premiums, coverage options, customer satisfaction ratings, and overall reliability. Take a look at our comparison chart below to find the perfect fit for your home insurance needs.

Company Annual Premium
State Farm $1,692
AIG $1,897
USAA $2,845
Chubb $3,340
Amica $3,043
MetLife $2,198
Travelers $3,322
Allstate $3,768

Average Home Insurance Rates by Zip Codes

The price of homeowners insurance in Boston, MA can fluctuate significantly based on the zip code. Below are tables displaying rates for different zip codes in Boston, along with the five cheapest and most expensive zip codes in the area for annual home insurance premiums.

ZIP Code Average Insurance Premium (Annual)
02114 $1,373
02118 $1,604
02128 $1,409
02109 $1,372
02111 $1,482
02133 $1,456

Cheapest Zip Codes

ZIP Code Average Insurance Premium (Annual)
02108 $1,367
02110 $1,398
02128 $1,409
02109 $1,372
02114 $1,373

Most Expensive Zip Codes

ZIP Code Average Insurance Premium (Annual)
02127 $1,548
02115 $1,543
02199 $1,478
02210 $1,548
02116 $1,498

Average Home Insurance Rates in Boston, MA by Deductible Amount

The chosen deductible amount for a homeowners insurance policy greatly impacts the premium rates in Boston, MA. Here’s a breakdown of how the average home insurance rates fluctuate for different deductible amounts:

Deductible Average annual cost
$500 $1,440
$1,000 $1,198
$1,500 $1,136
$2,000 $1,031
$5,000 $897

Average Home Insurance Rates in Boston, MA By Coverage Amount

A crucial factor influencing your premium is the dwelling coverage amount, which represents the maximum sum your insurance company will pay to rebuild or repair your home if it’s damaged or destroyed.

Below is a comparison chart outlining the average annual homeowners insurance premiums for various dwelling coverage amounts:

Dwelling Coverage Amount Average Annual Premium
$100,000 $673
$200,000 $1,220
$300,000 $1,674
$400,000 $2,132
$500,000 $2,692

Average Home Insurance Rates in Boston, PA by Company

Here’s a comparison table showcasing annual premiums from some of the top providers in Boston:

Company Annual Premium
State Farm $1,692
AIG $1,897
USAA $2,845
Chubb $3,340
Amica $3,043
MetLife $2,198
Travelers $3,322
Allstate $3,768

How Much is Homeowners Insurance for Other Cities in Massachusetts?

Here is a detailed comparison chart showcasing the most affordable cities in Massachusetts and their annual premiums.

City Annual Premium
Accord $2,140
Centerville $3,634
Chesterfield $1,054
Harvard $1,360

Getting Online Homeowners Insurance Quotes in Massachusetts

Informative platforms like Insuranceopedia make it easy to find the best coverage for your specific needs with just a few clicks. By offering quick online quotes from a range of top-rated insurers, Insuranceopedia allows you to compare rates easily.

Simply input your details, and let us handle the heavy lifting by presenting you with a selection of options tailored to your requirements. This enables you to confidently select a policy that offers the best value, balancing cost with comprehensive coverage.

FAQs

Who has the cheapest home insurance in Boston, MA?

The most affordable home insurance in Boston, Massachusetts, is offered by State Farm, with an annual premium of $1,692.

 

What is the average cost of home insurance in Boston, MA?

The typical expense for homeowners insurance in Boston, Massachusetts, is around $4,325 per year.

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