Insurance
Massachusetts Homeowners Insurance Calculator: Free Cost Estimator (2024)
Updated: November 10, 2024
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MoneyGeek’s home insurance calculator will give you a ballpark estimate of your cost — it’s free, no personal information required, no spam.
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Rates updated:
Nov 20, 2024
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Based on our analysis of Massachusetts' cheapest homeowners insurance companies, we found State Farm the ideal option for those looking for affordable policies.
MoneyGeek also analyzed companies that offer the best overall homeowners insurance in Massachusetts for homeowners who want a balance of cost and affordability.
How to Estimate the Cost of Your Homeowners Insurance Policy in Massachusetts
Insurance companies consider various factors when determining your homeowners insurance expenses, which is why the cost of a policy varies significantly. These factors include your location, credit score, deductible, dwelling coverage and more.
It’s easy to get a personalized quote for homeowners insurance. Enter the following information in the Massachusetts homeowners insurance calculator for a custom quote.
Massachusetts
The area where you live is essential in determining your homeowners insurance costs. Insurance companies consider it risky to insure homeowners living close to areas prone to natural disasters like tornadoes or hurricanes.
Your insurance expenses will also increase if you live in an area in Massachusetts with a high theft rate or more likelihood of fires.
Dwelling Coverage
If there’s any damage to your home due to a covered peril, dwelling coverage will help you rebuild it. It covers the physical structure of your home.
Determining the cost of rebuilding your home is essential if you want to figure out how much dwelling coverage you will need. Your insurance company can help you with this, or you can hire a professional home appraiser.
In Massachusetts, the average dwelling coverage amount is $500,000.
Deductible
Your deductible is the amount you’re responsible for paying when you file a claim. Your insurance provider will cover the rest of the amount for damages.
If your deductible is $3,000 and the claim is worth $10,000, Your insurance provider will only cover $7,000.
You can lower your monthly premiums by choosing a policy with a higher deductible. However, you will have higher out-of-pocket costs.
Liability
Liability insurance provides protection against claims in case of an accident on your property that results in injuries or death of other people or damage to someone else’s belongings. It pays for many types of expenses, including legal costs, medical bills, death benefits and more.
Since thousands of dollars in coverage costs less than a few dollars per month, MoneyGeek recommends buying enough liability coverage to cover your assets.
Personal Property
Personal property coverage is essential if you want protection against theft or damage to your items. It covers jewelry, furniture, clothing and other personal belongings.
MoneyGeek’s personal property calculator can help you estimate the value of your items so you can choose sufficient coverage.
Credit Score
In Massachusetts, insurance companies are not allowed to consider your credit score before determining your homeowners insurance rates.
Personal Property Coverage Calculator
When figuring out how much renters insurance you need, experts recommend the standard $100,000 in liability insurance and enough personal property protection to cover your possessions. Use MoneyGeek's calculator to estimate the value of your possessions so you know how much personal property coverage to buy.
clothing & accessories
Clothes, shoes, bags, belts, hats, gloves, etc.
Average Cost of Home Insurance in Massachusetts
MoneyGeek's research shows that Massachusetts ranks 20th among U.S. states for homeowners insurance affordability. We found that the average cost of homeowners insurance in Massachusetts is $1,774 for $250k dwelling coverage, roughly 27% less expensive than in other states.
The table below lists Massachusetts' average cost per coverage level, which can be helpful if you want to get more or less dwelling coverage.
Average Annual Premium in Massachusetts for Homeowners Insurance
| $100,000 | $884 |
| $250,000 | $1,774 |
| $500,000 | $2,628 |
| $750,000 | $3,959 |
| $1,000,000 | $5,089 |
| $2,000,000 | $9,596 |
| $3,000,000 | $14,076 |
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Dwelling coverage protects you from the cost of damage to your home's physical structure. You should get enough coverage to pay for rebuilding your home.
It's possible to estimate your rebuilding cost with your insurance company's help. However, you can also hire a professional home appraiser to help you assess the cost of rebuilding your home.
Factors like your home's age, structure, design, the material used and other important details are essential in determining your home's replacement cost.
Extended replacement cost, guaranteed replacement cost and inflation guard coverage could be wise investments for extra protection over time.
Average Cost of Home Insurance in Massachusetts Cities
Your monthly homeowners insurance may vary depending on which city you live in. MoneyGeek researched monthly premiums for various cities in Massachusetts to help you figure out your insurance costs.
Average Annual Premium in Massachusetts Cities for Homeowners Insurance
| Boston | $962 | $1,828 |
| Springfield | $690 | $1,249 |
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MoneyGeek’s analysis shows that Allstate is the best overall insurer if you’re not concerned about cost. It offers a great combination of price, financial stability and customer service.
We analyzed various homeowners insurance providers to find the company offering the best homeowners insurance for individual buyer needs.
Frequently Asked Questions About Home Insurance in Massachusetts
MoneyGeek answered the following frequently asked questions about homeowners insurance in Massachusetts to help you understand its cost, coverage details and other important information.
How much does homeowners insurance cost in Massachusetts?
The average cost of homeowners insurance in Massachusetts is $1,774 per year for a $250K coverage policy, which is around 27% less expensive than the national average of $2,417.
How do I know how much dwelling coverage to get?
On average, homeowners in Massachusetts buy a policy with $500,000 in dwelling coverage. To know how much dwelling coverage will be sufficient for you, it’s essential to understand how much it would cost to rebuild your home. You can have your insurance company or a private appraiser help you get an estimate of how much you need.
Insurance
Methodology
To determine the average cost of homeowners insurance in Massachusetts, MoneyGeek sourced pricing data from Quadrant Information Services.
MoneyGeek chose a standard home profile to provide the most reliable and relevant data for developing a thorough analysis of homeowners insurance. This standard home profile consists of the following attributes:
- Construction year: 2000
- Construction type: Frame
- Composition roof
- Three-mile radius from the fire department
- Assumed value of other structures on the property: 10% of the dwelling coverage
- Personal property coverage: 40% of the dwelling coverage
- Liability limit: $100,000
- Deductible: $1,000
About Mark Fitzpatrick
Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.
Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.