Cambridge Insurance Rates:

Cambridge, MA home insurance is nearly $947 to $1,292, about $78-$107/month. Our exhaustive analysis shows customers can save as much as $447 by comparing many quotes

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Cambridge Home Owner Insurance Quotes | Write a Review | Rates & Quotes Analysis
State Farm
Home Insurance Rate of $2390/9 months for $500000-$600000 Coverage
Policy Holder Home Details :

Home Value : $580,000

4 Beds, 4 Baths 2190 sqft Vacation Property Constructed In 1940 with Wood Flooring, Tile Roof, Piers Foundation, Wood siding, Brick Frame. Home Features Include Fire Extinguisher, Central Air Conditioning, Swimming Pool, Fireplace, Circuit Breaker Electricals and Security by HomeOnly

About Policy Holder:

35 Years old Single Male who is Unemployed and has 2 Pets and is a Smoker

Additional Details :
  • 50-75% Mortgage Paid off

  • 650-699 Credit Score

  • Seniors staying at home

  • Guests at home

Home Insurance Rate of $530/6 months for $175000-$200000 Coverage
Policy Holder Home Details :

Home Value : $225,000

2 Beds, 2 Bath 1070 sqft Rental Property Constructed In 1949 with Ceramic Tile Flooring, Shingles Roof, Crawl Space Foundation, Stucco siding, Metal Frame Construction. Home Features Include Fireplace, Swimming Pool, FuseBox Electricals and Security by Monitoring Company

About Policy Holder:

26 Years old Single Female who has a Full Time Job with household income of $75-$100,000 and has 2 Pets and is a Smoker

Additional Details :
  • 75-100% Mortgage Paid off

  • 500-549 Credit Score

  • Seniors staying at home

  • Guests at home

Home Insurance Rate of $2790/10 months for $500000-$600000 Coverage
Policy Holder Home Details :

Home Value : $520,000

3 Beds, 3 Baths 2240 sqft Rental Property Constructed In 1940 with Ceramic Tile Flooring, Metal Roof, Slab Foundation, Vinyl siding, Stucco Construction. Home Features Include Indoor Sprinklers, Swimming Pool, Deadbolt Locks, Smoke Alarm, FuseBox Electricals and Security by Monitoring Company

About Policy Holder:

36 Years old Married Female who has a Part Time Job with household income of $25-50,000 and has More than 3 Pets at home and is a Non-Smoker

Additional Details :
  • 75-100% Mortgage Paid off

  • 500-549 Credit Score

  • Seniors staying at home

  • Guests at home

Home Insurance Rate of $260/2 months for $400000-$500000 Coverage
Policy Holder Home Details :

Home Value : $440,000

2 Beds, 2 Bath 1440 sqft Primary Residence Constructed In 1943 with Carpet Flooring, Membrane Roof, Slab Foundation, Stucco siding, Stucco Construction. Home Features Include Indoor Sprinklers, Fire Extinguisher, Fireplace, FuseBox Electricals and Security by HomeOnly

About Policy Holder:

32 Years old Married Female who is Unemployed and has No Pets and is a Smoker

Additional Details :
  • 75-100% Mortgage Paid off

  • 800-850 Credit Score

  • Seniors staying at home

  • Guests at home

Home Insurance Rate of $10120/10 months for More than $1,000,000 Coverage
Policy Holder Home Details :

Home Value : $855,000

3 Beds, 3 Baths 1447 sqft Primary Residence Constructed In 1936 with Linoleum, Shingles Roof, Slab Foundation, Fiber-Cement Siding, Metal Frame Construction. Home Features Include Fire Extinguisher, Smoke Alarm, Central Air Conditioning, FuseBox Electricals and Security by Monitoring Company

About Policy Holder:

47 Years old Married Male who is Unemployed and has 2 Pets and is a Non-Smoker

Additional Details :
  • 0-25% through paying our mortgage

  • 600-649 Credit Score

  • Guests at home

Cambridge Rates & Quotes Analysis:

Cambridge Area Estimated House Insurance
Walker Street Pl, Max Ave, Brattle Cir, Old Dee Rd, Story St, Vassal Ln, Chapman Pl, Jackson Pl, Appleton Rd, Greenough Blvd$None
Sciarappa St, Agassiz St, Dunster St, Saint Saveur Ct, Aberdeen Way, Riedesel Ave, York St, Churchill Ave, Walnut Ave, Hews St$1,090
Avon Hill St, Hillside Pl, Sellers St, Bates St, Griswold St, Larchwood Dr, Appian Way, Mooney St, Fort Washington Pl, Kirkland St$1,223
Lancaster St, White Street Pl, Newman St, Spring Pl, Ellsworth Ave, Francis Ave, Locust Ter, Rindge Ave, Bishop Richard Allen Dr, Deacon St$1,123
Walbro St, Kinnaird St, Winslow St, Hurlbut St, Seagrave Rd, Avon Hill St, Stinson Ct, Pilgrim St, Eliot Sq, Chetwynd Rd$1,108

Insurance rates are influenced by a number of factors including:

  • Year Built: 26,557 Homes (55% of total) built between 1939 or earlier in Cambridge are paying home insurance between $2,394-$2,411 in contrast with Belmont (+$63), Brookline (+$97), Winchester (+$101), Somerville (-$68) and Watertown Town (-$79).
  • Bedrooms: 14,527 1 bedroom homes (31% of total homes ) in Cambridge are paying about $381 and differs from Belmont (+$9), Brookline (+$15), Winchester (+$16), Somerville (-$11) and Watertown Town (-$13).
  • Auto Insurance Bundling: 4,762 Households (29% of all households) in Cambridge have 2 vehicles available and when it is bundled with home insurance you can save $223. Discounts for similar bundling in close by locations such as Somerville, Watertown Town, Medford come to $217, $216, $213 respectively.
  • Senior Discounts: 8,369 seniors (more than 55 years) occupied housing units (51% of total) in Cambridge get discounts between $166 to $168 in contrast with Somerville ($162), Medford ($160), Belmont ($172).
  • New Homes discounts: New homes such as the 8,827 homes built between 2000 to 2009 in Cambridge can save $223 and varies from Somerville ($217), Watertown Town ($216), Medford ($213).

Cambridge Homeowners insurance Facts

  • Cambridge, MA has 16,269 owner occupied houses which is 36.1% of all units whereas Somerville, Watertown Town and Medford have 33.19%, 52.35% and 58.08% respectively.
  • Cambridge, MA homeowners yearly insurance price at $1,119 is 0.21% of the typical house value of $545,800 which is in contrast with 0.25% in Somerville, 0.25% at Watertown Town & 0.28% in Medford.
  • Homeowners in Cambridge, MA pay 2.03% of their income ($50,000 to $59,999) in insurance whereas homeowners in Somerville, Watertown Town and Medford pay 1.97%, 1.97% and 1.94% respectively.
  • Cambridge, MA’s insurance is 3.8% of monthly housing costs of $2,453/month, for owners with a mortgage compared to 3.79% in Somerville, 3.76% at Watertown Town & 3.79% in Medford. But, for households without a mortgage, insurance is 12.3% of costs ($757 in Cambridge, MA) in contrast with 11.47% in Somerville, 11.05% at Watertown Town & 11.82% in Medford.

Cambridge, MA Home Values & Insurance rates

For example, insurance for 665 Homes (14.0% of total homes ) valued between $250,000 to $299,999 in Cambridge, MA is about $559. Rates in nearby areas in such as Belmont, Brookline, Winchester are cheaper by $66, $94, $105 respectively while Somerville and Watertown Town are costlier by $114 and $133 respectively for similar homes.

Cambridge, MA Home By Value Total Homes % of Total Average Homeowners Insurance
Less than $50,000 160 3.0% $44
$100,000 to $124,999 75 1.0% $223
$125,000 to $149,999 65 1.0% $279
$150,000 to $174,999 124 2.0% $324
$175,000 to $199,999 98 2.0% $380
$200,000 to $249,999 425 9.0% $458
$250,000 to $299,999 665 14.0% $559
$300,000 to $399,999 2,871 62.0% $716

Renters Insurance in Cambridge

  • Average Renters Insurance in Cambridge :  $70($5/month)

  • Median Gross Rent in Cambridge :  $1,585

  • Cambridge Renters Insurance to Median Rent Ratio:  0.32%

  • Renter occupied housing units in Cambridge :  28,818

Cambridge Renters Insurance as a Percentage of Rent

Cambridge Home By Monthly Rent Total Homes % of Total Estimated Monthly Income To Afford Rented House Including Renters Insurance
Less than $200 544 1.0% $317
$200 to $299 898 3.0% $767
$300 to $499 1,532 5.0% $1217
$500 to $749 1,474 5.0% $1892
$750 to $999 1,759 6.0% $2642
$1,000 to $1,499 6,366 22.0% $3767
$1,500 or more 15,548 55.0% $5417

Rent Affordability in Cambridge:

Approximately 41.0% (12,010) of households are spending more than 35% of their income on gross rent in Cambridge

Occupied units paying gross rent Total Households % of Total
Less than 15.0 percent 3,468 12.0%
15.0 to 19.9 percent 3,317 11.0%
20.0 to 24.9 percent 3,847 13.0%
25.0 to 29.9 percent 3,591 12.0%
30.0 to 34.9 percent 2,585 8.0%
35.0 percent or more 12,010 41.0%

Protective device discount in Cambridge Up to :  $10

Claims-free discount in Cambridge Up to :  $14