A homeowners policy is considered a worthwhile investment. Reviews evaluated several insurance providers to determine the 3 best Massachusetts home insurance companies. Based on our research, Allstate is the best home insurance company for premium and deductible options, Travelers is the best home insurance company for endorsements, and Chubb is the best home insurance company for added perks. These companies were evaluated based on average price, AM Best financial strength, J.D. Power overall customer satisfaction scores, add-on coverages available, and discounts offered by each provider.
Reviews.com used 2021 Quadrant Information Services data from Bankrate.com to map the average home insurance premium, and a unique in-house methodology to compare discounts, coverage, and third-party evaluations to rank and review the best home insurance in Massachusetts. Compare quotes from carriers that provide home insurance in Massachusetts to make sure you get the best homeowners insurance rates available.
The 3 Best Homeowners Insurance Companies in Massachusetts
- Allstate: Best Massachusetts Home Insurance for Premium and Deductible Options
- Travelers: Best Massachusetts Home Insurance for Endorsements
- Chubb: Best Massachusetts Home Insurance for Added Perks
Compare the Best Home Insurance Companies in Massachusetts
| AVERAGE ANNUAL PREMIUM* | AM Best Financial Strength AM Best rates insurance providers creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim. | J.D. Power Overall Customer Satisfaction** J.D. Power scores are based on surveys for customer satisfaction and product quality. | ||
|---|---|---|---|---|
| Pin Allstate | $877 | A+ | 829/1,000 | |
| Pin Travelers | $1,300 | A++ | 803/1,000 | |
| Pin Chubb | $1,753 | A++ | 871/1,000 |
Information accurate as of July 2021
*Data provided by Bankrate.com for $250,000 in dwelling coverage
**J.D. Power 2020 Home Insurance Satisfaction Study. Based on a 1,000-point scale.
Best Massachusetts Homeowners Insurance Companies
Allstate
Best For Premium and Deductible Options
Why we chose it
Why we chose it
Pros
- More-than-average additional coverage options
- Claims-free rewards
- Digital home inventory app available
Cons
- High customer complaint ratings
- Average customer satisfaction rating
Add-on Coverage
- ID theft
- Eco-friendly improvements
- Sports/musical equipment
- Yard and garden
- Water backup
Discounts Available
- Auto-pay
- Homebuyer discount
- 10% welcome discount
- Early signing discount
- And more
More Allstate Insurance Reviews
Information accurate as of July 2021
*Data provided by Bankrate.com
**J.D. Power 2020 Home Insurance Satisfaction Study. Based on a 1,000-point scale.
Travelers
Best For Endorsements
Why we chose it
Why we chose it
Pros
- Multiple endorsements available
- Excellent financial strength
Cons
- Lower-than-average customer service rating
- Higher-than-state-average premium
Add-on Coverage
- Special personal property
- Personal articles floater
- Green home coverage
- Water backup
- Identity Fraud
Discounts Available
- Multi-policy
- Home buyer
- Loss free
- Protective device
- Green home
MORE TRAVELERS INSURANCE REVIEWS
Information accurate as of July 2021
* Data provided by Bankrate.com
**J.D. Power 2020 Home Insurance Satisfaction Study. Based on a 1,000-point scale.
Chubb
Best For Added Perks
Why we chose it
Why we chose it
Pros
- High customer satisfaction
- Numerous, easy to achieve discounts
- Members get a variety of freebies
Cons
- Specializes in high end homes
Coverage perks
- Extended replacement cost
- Risk consulting
- Replacement cost coverage
- Cash settlement
Discounts Available
- Home safety features
- Policy bundling
- Newly built home
- Recently renovated home
- Gated community
- Claims-free
Information accurate as of July 2021
*Data provided by Bankrate.com
**J.D. Power 2020 Home Insurance Satisfaction Study. Based on a 1,000-point scale.
Average Cost of Homeowners Insurance in Massachusetts
According to our review of Bankrate.com’s 2021 quoted annual premiums from Quadrant Information Services, the average cost of home insurance in Massachusetts is $1,307 per year. This is nearly equal to the average premium for homeowners insurance in the U.S. which comes in at $1,312 annually. Although not the most weather-prone state in the country, home insurance costs in Massachusetts may be affected by the state’s harsh winter conditions. Depending on your specific ZIP code, claims history for that area may cause you to see higher or lower rates compared to the state average.
Top 3 Cheapest Homeowners Insurance Companies in Massachusetts
- Quincy Mut Grp — $731 average annual premium
- ANDOVER Grp — $774 average annual premium
- Allstate — $877 average annual premium
Top 3 Most Expensive Homeowners Insurance Companies in Massachusetts
- The Hanover — $1,927 average annual premium
- NBIC Holdings Grp — $1,795 average annual premium
- Chubb — $1,753 average annual premium
Average Premium from Homeowners Insurance Companies in Massachusetts
Using 2021 Quadrant Information Services data from Bankrate.com, we analyzed home insurance companies in the United States and compared the best homeowners insurance rates in Florida. We found that the average premium for home insurance in Massachusetts is $1,307 per year. However, homeowners may be able to find cheap home insurance rates, like $731 a year with Quincy.
These are sample rates and should be used for comparative purposes only. Your quotes may be different.
The coverage limits in the methodology are as follows:
- Coverage A, Dwelling: $250,000
- Coverage B, Other Structures: $25,000
- Coverage C, Personal Property: $125,000
- Coverage D, Loss of Use: $50,000
- Coverage E, Liability: $300,000
- Coverage F, Medical Payments: $1,000
The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required).
Common Home Insurance Perils in Massachusetts
Most people living on the East Coast know that hurricane season can be particularly turbulent and cause significant damage and economic loss. In fact, according to the Environmental Protection Agency, extreme storm precipitation has increased 70% since 1958. Flooding is another peril associated with heavy precipitation and based on historical data, flooding is likely to worsen during winter and spring. Coastal towns are historically more vulnerable to storms and coastal flooding. Although they do not happen every year, Massachusetts is also prone to heavy snowstorms and blizzards.
Add-On Home Insurance Coverage in Massachusetts
In addition to basic coverages, like dwelling and personal property coverage, home insurance companies sell a variety of add-on policies that fill certain gaps. In Massachusetts, homeowners should consider purchasing flood insurance. Flood damage, which can come about after a hurricane or major storm, is not included with standard home insurance policies. In order to get protection, a separate flood insurance policy is necessary. The government offers flood insurance through the National Flood Insurance Program (NFIP).
Homeowners Insurance FAQ
Methodology
We evaluated the companies based on their third-party agency ratings for customer experience, financial stability, as well as coverage options to determine which might be the best providers.
To compare home insurance companies across the board, we considered the following factors:
- Coverage: The more options a home insurance company has for insurance add-ons and coverages, the higher it scores in our methodology.
- Customer Experience: We reviewed the National Association of Insurance Commissioners’ National Complaint Index and compared each homeowners insurance company’s complaint rating.
- Customer Satisfaction: With J.D. Power’s 2020 Home Insurance Satisfaction Study, we assigned a score to each company based on the rating it received.
- Financial Stability: Reviews.com utilized AM Best ratings to assign a score based on each home insurance company’s financial stability.
- Discounts: We reviewed and compared the number of discounts advertised on each home insurance company’s website. The more available discounts, the higher the score in this metric.
Rates are based on quoted annual premiums from Bankrate.com. These are sample rates and should be used for comparative purposes only. Your quotes may be different.
The coverage limits for home insurance rates reflect the following coverage and limits:
- Coverage A, Dwelling: $250,000
- Coverage B, Other Structures: $25,000
- Coverage C, Personal Property: $125,000
- Coverage D, Loss of Use: $50,000
- Coverage E, Liability: $300,000
- Coverage F, Medical Payments: $1,000
The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required).
About the Authors
Jessie has been writing professionally for over a decade with experience in a variety of different topics and industries. She currently resides in the beautiful Outer Banks where she works as a freelance writer and marketing professional full-time. With a bachelor’s degree in history, she is extremely passionate about studying the local culture and teaching others about the history of the area.
