The Best Homeowners Insurance In Massachusetts For 2024

State Farm offers the best homeowners insurance in Massachusetts, at an average annual premium of $1,074.

min read
Updated: 15 March 2024
Written by
Bob Phillips
On this page Open

For Massachusetts homeowners seeking comprehensive coverage at a reasonable price, the information gathered here may be helpful.

Based on my research, State Farm emerges as the leading homeowners insurance carrier in Massachusetts. However, don’t just take my word for it. Continue reading to discover why I believe State Farm stands out from the competition.

 

Best Homeowners Insurance Companies In Massachusetts, 2024

Best Home Insurance, Massachusetts 2024

Compare The Best Homeowners Insurance In Massachusetts

Overall Rating Best For A.M Best Rating J.D Power Rating Online Experience Get A Quote
State Farm
4.9

Best Overall

A++

829

9/10

Instant Quote
Chubb
4.8

Cheap Rates

A+

809

9/10

Instant Quote
Nationwide
4.6

Coverage Options

A+

815

8/10

Instant Quote
Farmers
4.4

Policy Perks

A+

792

9/10

Instant Quote
Allstate
4.7

Discounts

A++

816

9/10

Instant Quote
Scroll to see comparisons

Our Methodology

When we're trying to decide which companies in Massachusetts are the best for homeowners insurance, our choices are founded on particular criteria that includes ratings from unbiased companies like J.D. Power and AM Best, customer reviews from policyholders, and more.

The data comes from J.D. Power about how satisfied customers are with various companies. AM Best reports on how financially strong and stable a company is. In addition, we put quite a lot of weight into reviews left by policyholders online. My personal experience might also be factored in.

52

Quotes Analyzed

19

Brands Reviewed

15+

Years Of Experience

30+

Research Hours

Best Homeowners Insurance Companies In Massachusetts


Best Overall

Overall Rating
4.9

Key Statistics

10/10 Affordability
9/10 Customer Reviews
9/10 Claims
10/10 Coverage Level

Why We Like Them

As previously mentioned, State Farm is our top choice for the best overall home insurance in Massachusetts. The insurance carrier has received the best possible rating from AM Best (A++) for its financial strength and stability. J.D. Power also awards State Farm an excellent rating (829 out of 1000) in policyholder satisfaction.

This rating is partly due to the numerous positive reviews from online customers. State Farm’s many offices, agents, and claims representatives located within the state ensure above-average customer service.

State Farm offers homeowners coverage that is not typically available from other insurers, even in its standard home insurance policies. For example, it provides protection from credit card fraud and identity theft, which are increasingly common issues.

If your home is in an area with strict HOA regulations and codes, State Farm can provide legal assistance to ensure compliance if you need to rebuild your home after a loss. These are just a few examples of the types of protection you’ll receive with State Farm homeowners insurance.

If you decide to purchase home insurance from State Farm, you can easily get started online. However, to complete the process and obtain a policy with this carrier, you must meet with a State Farm agent. Once you become a State Farm policyholder, you can access your account online through the website or app.

The convenient online tools make it easy to enroll in paperless billing and auto-pay, pay premiums, or file a claim. If you’re interested in learning more about your insurance or insurance in general, the State Farm website offers an online resource library full of valuable information.

Benefits & Drawbacks

Benefits
  • Many offices and agents locally
  • Numerous coverage options offered
  • Highest AM Best rating for financial stability and strength
Drawbacks
  • You can't get a State Farm insurance policy through independent agents

Best For Policy Perks

Overall Rating
4.4

Key Statistics

9/10 Affordability
6/10 Customer Reviews
7/10 Claims
9/10 Coverage Level

Why We Like Them

Farmers homeowners insurance coverage receives high ratings from policyholders for its numerous policy perks and online experience. The company’s clear explanation of its perks contributes to its positive online ratings. Policy perks are important when shopping for home insurance, and Farmers offers several, including:

  • Claim Forgiveness: Rates won’t increase after filing a claim, provided you haven’t filed one in 5 years.
  • Discount if Claim Free: Receive a discount if you go 3 years without filing a claim.
  • Multi Line Policies: Insure multiple types of insurance with Farmers and receive up to a 34% discount.
  • Deductible Declines: Get $50 off your deductible for every year your Farmers policy is in effect.
  • Replacement Cost Guaranteed: Farmers pays the full cost to rebuild your home, regardless of the expense.

J.D. Power gives Farmers a high rating of 9.3/10, although its satisfaction ratings from policyholders are lower than the national average.

Benefits & Drawbacks

Benefits
  • Home insurance policies all guarantee replacement cost
  • Multiple sales, claims and service agents in local offices
  • Provides more than 12 discounts
Drawbacks
  • Customer satisfaction ratings aren't as high as average

Best Coverage Options

Overall Rating
4.6

Key Statistics

8/10 Affordability
6/10 Customer Reviews
9/10 Claims
9/10 Coverage Level

Why We Like Them

Nationwide receives an excellent A+ rating from AM Best due to its strong financial strength. While its customer satisfaction ratings could be higher, they are still respectable. Nationwide is well-regarded overall, with many local offices and agents, ensuring convenience and good service for policyholders.

One standout feature of Nationwide is its range of options not commonly found in other homeowner coverage. For instance, they offer reimbursement for events like ID theft and credit card fraud, which are increasingly prevalent issues. Additionally, if you’re in an HOA and need to rebuild after a covered loss, Nationwide provides assistance from an attorney or covers the costs of rebuilding to comply with codes.

The Better Roof Replacement option from Nationwide offers additional coverage if you need to purchase new roofing materials due to damage from a covered loss.

Another valuable option is Brand New Belongings, which reimburses you for the value of your belongings if they are damaged or destroyed in a covered loss, minus depreciation. Simply purchase replacements, send Nationwide your receipts, and you’ll be reimbursed for the difference.

Benefits & Drawbacks

Benefits
  • Many local agents and offices
  • High AM Best rating for stability and financial strength
  • Lots of coverage options
Drawbacks
  • Short term rentals like Airbnb aren't covered
  • Many bad reviews from customers online

Best For Cheapest Coverage

Overall Rating
4.8

Key Statistics

10/10 Affordability
9/10 Customer Reviews
9/10 Claims
8/10 Coverage Level

Why We Like Them

Chubb homeowners insurance in Massachusetts is renowned for its superior coverage tailored for high-value homes. While its average annual premium of $1,471 is 15% higher than the state average of $1,275, policyholders find the additional cost worthwhile for the exceptional coverage and features.

Customers in Massachusetts appreciate Chubb’s specialized offerings, including advanced home inspections, property management services for secondary homes, personalized claims handling, and other perks. Chubb also stands out with its range of add-on coverages beyond basic home insurance.

These include protection against water backup, extended replacement coverage for both the home and personal belongings, coverage for equipment breakdown, and more. Chubb policyholders benefit from extended replacement cost coverage, ensuring their home and property can be rebuilt or replaced even if their value has depreciated since purchase.

Benefits & Drawbacks

Benefits
  • High value homes have special packages of policy options
  • Rates are amongst the most affordable in the state
  • You can get the best coverage for your needs with a broad range of options
Drawbacks
  • You are unable to obtain a quote online
  • No scheduled personal property

Best For Discounts

Overall Rating
4.7

Key Statistics

8/10 Affordability
7/10 Customer Reviews
8/10 Claims
8/10 Coverage Level

Why We Like Them

The average homeowners insurance industry in the U.S. offers seven discounts, but Allstate provides eleven. These discounts can lead to substantial savings on your insurance premiums. Many analysts agree that Allstate’s discounts are compelling for those seeking comprehensive coverage at an affordable price.

Some of Allstate’s discounts include:

  • New Home Buyer: Discount for purchasing a new home
  • Claims Forgiveness: Optional coverage to prevent rate hikes after filing a claim
  • Claims Free: Discount for a year without claims
  • Responsible Payment: Discount for maintaining a good payment record
  • Automatic Payment: Discount for enrolling in auto-pay
  • Early Payment: Discount for purchasing a new policy soon after renewing the existing one
  • Protective Device: Discount for installing fire and theft protective devices
  • Deductible Reward: Deduction from deductible amount upon policy purchase
  • Bundle: Discount for having multiple insurance types with Allstate
  • Loyalty: Discount for renewing your policy

Allstate offers nearly double the national average number of discounts, with eleven available. In addition to common options, Allstate also covers loss or repair of landscaping, riding lawnmowers, and other yard and garden items.

Benefits & Drawbacks

Benefits
  • Financially strong and stable
  • Multiple local offices and agents within the state
  • 11 optional discounts in comparison to the industry average of 7
Drawbacks
  • More than average complaints from policyholders

Average Cost Of Home Insurance In Massachusetts

Insurer Annual Rate
Farmers $1,009.00
State Farm $1,074.00
Nationwide $1,308.00
Allstate $1,313.00
Massachusetts Average Rate $1,582.00
Chubb $1,717.00
Travelers $1,804.00
USAA $1,907.00
Kin $1,998.00

Cheapest Cities For Homeowners Insurance In Massachusetts

City Annual Rate
Cambridge $1,197.00
Lowell $1,209.00
Worcester $1,299.00
Lawrence $1,308.00
Quincy $1,343.00

Most Expensive Cities For Homeowners Insurance In Massachusetts

City Highest Rate
Revere $1,660.00
Lynn $1,553.00
Fall River $1,502.00
Boston $1,467.00

Home Insurance Premiums By Deductible In Massachusetts

Deductible Average Annual Rate
$500 $1,175.00
$1,000 $1,049.00
$1,500 $1,014.00
$2,000 $977.00
$5,000 $807.00

Home Insurance Prices By Coverage Level In Massachusetts

Coverage Level Average Annual Rate
$100,000 Dwelling $614.00
$200,000 Dwelling $912.00
$250,000 Dwelling $1,049.00
$400,000 Dwelling $1,468.00

The Most Affordable Areas For Homeowners Insurance In Massachusetts

Homeowners insurance in Massachusetts varies by ZIP code. It may range from a low of $1,967.00 in Afton, zip code 74331, to as much as $4745.00 in Massachusetts City, zip code 73008. The lowest rates according to zip codes are:

ZIP Code City Lowest Rate
01267 Williamstown $728.00
01236 Housatonic $735.00
01242 Lenox Dale $737.00
01230 Great Barrington $739.00

How To Find The Best Home Insurance Company For You

Finding the best homeowners insurance policy in Massachusetts and choosing the right company can be a challenging task. It requires an investment of time and effort, but it’s crucial for protecting your most valuable asset—your home. Securing adequate coverage ensures the financial security of your family.

Here are 5 steps to help you find the best home insurance for you:

  1. Research home insurance companies in Massachusetts. Most of this research can be done online. Narrow down your choices to a handful of insurers, then further narrow it down to three final companies.
  2. Determine the amount of coverage you need. An insurance agent can help you with this step.
  3. Get premium quotes from the three selected companies.
  4. Consider rates, financial stability, coverage amounts, and customer reviews to make your final decision.
  5. Apply for coverage with the chosen company.

You can often get quotes and apply online, but some companies may require you to meet with an agent.

 

Things That Impact Cost Of Your Home Insurance Policy In Massachusetts

Several factors influence the cost of home insurance in Massachusetts:

  • Location: Living in an area prone to severe weather like storms, tornadoes, hail, ice, snow, or wildfires can lead to higher premiums.
  • Deductibles and coverage: Opting for a lower deductible increases your premium, while higher coverage for an expensive home also raises costs.
  • Proximity to flood zones: Being near bodies of water increases the risk of flooding, impacting insurance rates.
  • Claim history: Previous home insurance claims typically result in higher premiums.
  • Age of the home: Homes 30 years or older may have higher insurance costs due to newer, more stringent building codes, making rebuilding more expensive.

Massachusetts Home Insurance Laws To Know

Massachusetts law doesn’t require you to have home insurance. But, your lender will require that you insure your property that is mortgaged.

How To Get A Home Insurance Quote Online In Massachusetts

Getting a home insurance quote online in Massachusetts is straightforward. Follow these steps:

  1. Research and select three insurers that meet your needs.
  2. Complete an online form with information about your home, including its value, contents, square footage, age, exterior composition, and location.
  3. Submit the form to receive insurance quotes.
  4. Choose the best company and submit your application.

If you prefer a company that doesn’t offer online quotes, you’ll need to contact an agent.

Home Insurance Discounts In Massachusetts

Here are some home insurance discounts available in Massachusetts:

  1. Automatic Payment: Enroll in auto-pay and have your premiums automatically withdrawn from your bank account for a discount.
  2. Claims Free: Stay claim-free for 12 months to receive a 25% discount.
  3. New Home: Qualify for a discount if you have a newly constructed home.
  4. Responsible Payment: Maintain a good payment history for a discount.
  5. Bundle: Bundle your policies, such as auto and homeowners insurance, to receive up to a 25% discount.
  6. Early Payment: Purchase a new policy at least 7 days before your old policy expires for a discount.

FAQs

Is home insurance more expensive in Massachusetts?

No, it isn’t. The average rate in Massachusetts for homeowners insurance is $912 annually, which is considerably lower than most states.

How much per month is a million-dollar home insurance policy in Massachusetts?

Many factors determine your premium rates for home insurance in Massachusetts. For example how much your home is worth, how much of a deductible you have, who your insurer is, where your home is located, and more. Two of the most affordable home insurance rates in Massachusetts are Farmers at an annual premium of $1,009.00 and State Farm at $1,074.00 annually.

What is the average monthly cost of home insurance in Massachusetts?

Home insurance rates are calculated by things like your home’s value, the value of your belongings, the location of your home, your deductible, the age of your home, and more. The average home in Massachusetts valued at $250,000 will usually cost around $1,049.00 annually.

Go back to top