Springfield Insurance Rates:

Springfield, MA home insurance is approximately $845 to $1,142, about $70-$95/month. Our extensive analysis shows customers can save as much as $397 by getting multiple quotes

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Springfield Home Owner Insurance Quotes | Write a Review | Rates & Quotes Analysis
Chubb Group of Insurance
Home Insurance Rate of $460/12 months for $75000-$100000 Coverage
Policy Holder Home Details :

Home Value : $100,000

2 Beds, 2 Bath 1060 sqft Rental Property Constructed In 1986 with Wood Flooring, Metal Roof, Crawl Space Foundation, Stucco siding, Wood Frame. Home Features Include Smoke Alarm, Indoor Sprinklers, Copper Water Pipes, FuseBox Electricals and Security by HomeOnly

About Policy Holder:

40 Years old Married Male who has a Full Time Job with household income of $100-$150,000 and has 3 Pets and is a Non-Smoker

Additional Details :
  • 75-100% Mortgage Paid off

  • 700-749 Credit Score

  • Seniors staying at home

Home Insurance Rate of $1360/10 months for $350000-$400000 Coverage
Policy Holder Home Details :

Home Value : $340,000

5 Beds, 5 Baths 3880 sqft Rental Property Constructed In 1959 with Hardwood Flooring, Slate Shingles Roof, Chainwall Foundation, Fiber-Cement Siding, Wood Frame. Home Features Include Deadbolt Locks, Smoke Alarm, Copper Water Pipes, FuseBox Electricals and Security by Monitoring Company

About Policy Holder:

40 Years old Married Male who has a Part Time Job with household income of less than $25,000 and has 3 Pets and is a Smoker

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

  • Up to 499 Credit Score

  • Guests at home

Home Insurance Rate of $150/3 months for $125000-$150000 Coverage
Policy Holder Home Details :

Home Value : $140,000

3 Beds, 3 Baths 1640 sqft Rental Property Constructed In 1958 with Wood Flooring, Asphalt Shingles Roof, Chainwall Foundation, Stone Siding, Stucco Construction. Home Features Include Central Air Conditioning, Smoke Alarm, Deadbolt Locks, Circuit Breaker Electricals and Security by HomeOnly

About Policy Holder:

29 Years old Single Male who is Unemployed and has 3 Pets and is a Non-Smoker

Additional Details :
  • 75-100% Mortgage Paid off

  • 600-649 Credit Score

Home Insurance Rate of $160/3 months for $50,000-$75,000 Coverage
Policy Holder Home Details :

Home Value : $60,000

2 Beds, 2 Bath 1027 sqft Primary Residence Constructed In 1942 with Carpet over wood flooring, Wood Shake Roof, Piers Foundation, Fiber-Cement Siding, Brick Frame. Home Features Include Central Air Conditioning, Indoor Sprinklers, Swimming Pool, Copper Water Pipes, Circuit Breaker Electricals and Security by HomeOnly

About Policy Holder:

29 Years old Single Female who is Unemployed and has No Pets and is a Smoker

Additional Details :
  • 50-75% Mortgage Paid off

  • 800-850 Credit Score

  • Seniors staying at home

  • Guests at home

Springfield Rates & Quotes Analysis:

Springfield Area Estimated House Insurance
Sachem St, Grenada Ter, Arbutus St, Mill Ln, Cornell St, Bunker Cir, Forest Hills Rd, Fern St, Buick St, Spencer St$994
Old Lane Rd, Lawton St, Sara Lynn Dr, Haskin St, Rita St, Dorchester St, Rockland Ter, Princess Rd, Genesee St, Harkness Ave$997
Arion Pl, Telbar St, Lumae St, Tiffany St, Joseph St, Lynwood Ter, Commonwealth Ave, Edgemere Rd, Wing St, Hamilton St$984
Gillette Cir, Spencer Ct, Greenacre Sq, Breckwood Blvd, Norman St, Ivan St, 4th St, David St, Normandy Rd, Lancashire Rd$984
Sherwood Rd, Pinecrest Dr, Savoy Ave, Baltimore Ave, Puritan Rd, Gilbert Ave, Maura St, Waltham Ave, Drumlin Rd, Ramah St$988
Summerfield St, Driftwood Rd, Rosewell St, Burt Rd, Tufts St, Rapalus St, Emeline Ct, Geneva St, Elliot St, Hebron St$998
Silas St, Sheridan Ln, Gerrish Ct, Prince St, Frank St, 2nd St, Margerie St, Veterans Way, Bartels St, Corey Rd$1,004
Hawthorne St, Garibaldi St, Dawes St, Cherryvale Ave, Lenox St, Breck Pl, Magaziner Pl, Monmouth St, Itendale St, Harbour Rd$1,007
E Court St, E Park St, Delano Dr, Magnolia Ter, Squirrel Rd, Texel Dr, Claremont St, Rosemary Dr, Navajo Rd, Castlegate Dr$1,008
Noel St, Yorktown Dr, Fairbank Pl, Bowles St, Wentworth St, Turner St, Lois St, Shepherd Dr, Turnbull St, Frank B Murray St$998

Insurance rates are influenced by a number of factors including:

  • Year Built: 26,960 Homes (43% of total homes ) built between 1939 or earlier in Springfield are paying home insurance between $2,128-$2,143. Places close to Springfield, MA such as East Longmeadow, Chicopee, Longmeadow are more expensive by $74, $19, $129 respectively while Sherwood Manor(CT) and Hazardville(CT) are cheaper by $328 and $340 respectively for similar homes.
  • Bedrooms: 18,916 2 bedrooms homes (31% of total homes ) in Springfield are paying about $358 and varies from East Longmeadow (+$3), Longmeadow (+$11), Hampden County (+$6), Chicopee (-$6) and West Springfield Town (-$4).
  • Auto Insurance Bundling: 3,868 Households (13% of all households) in Springfield have 3 or more vehicles available and when it is bundled with home insurance you can save $248. Discounts for similar bundling in close by locations such as East Longmeadow, Chicopee, Longmeadow come to $257, $250, $263 respectively.
  • Senior Discounts: 13,271 seniors (more than 55 years) occupied housing units (47% of total) in Springfield get discounts between $148 to $151. The comparative concessions in proximate regions such as East Longmeadow, Chicopee and Longmeadow are $154, $150 and $158 respectively.
  • New Homes discounts: New homes such as the 13,502 homes built between 2000 to 2009 in Springfield can save $198 in contrast with East Longmeadow ($206), Chicopee ($200), Longmeadow ($210).

Springfield Homeowners insurance Facts

  • Springfield, MA has 27,702 owner occupied houses which is 49.8% of all units whereas East Longmeadow, Chicopee and Longmeadow have 87.61%, 58.45% and 89.12% respectively.
  • Springfield, MA homeowners yearly insurance price at $994 is 0.65% of the typical house value of $152,600 which is in contrast with 0.39% in East Longmeadow, 0.56% at Chicopee & 0.31% in Longmeadow.
  • Homeowners in Springfield, MA pay 2.65% of their income ($35,000 to $39,999) in insurance whereas homeowners in East Longmeadow, Chicopee and Longmeadow pay 2.75%, 2.67% and 2.81% respectively.
  • Springfield, MA’s insurance is 5.8% of monthly housing costs of $1,424/month, for owners with a mortgage compared to 4.34% in East Longmeadow, 5.92% at Chicopee & 3.72% in Longmeadow. But, for households without a mortgage, insurance is 15.3% of costs ($541 in Springfield, MA) in contrast with 12.75% in East Longmeadow, 15.77% at Chicopee & 9.79% in Longmeadow.

Springfield, MA Home Values & Insurance rates

For example, insurance for 281 Homes (1.0% of total homes ) valued between $60,000 to $69,999 in Springfield, MA is about $417.

Springfield, MA Home By Value Total Homes % of Total Average Homeowners Insurance
Less than $50,000 1,015 3.0% $159
$60,000 to $69,999 281 1.0% $417
$70,000 to $79,999 508 1.0% $487
$80,000 to $89,999 770 2.0% $546
$90,000 to $99,999 907 3.0% $616
$100,000 to $124,999 4,038 14.0% $715
$125,000 to $149,999 5,581 20.0% $894
$150,000 to $174,999 6,143 22.0% $1053
$175,000 to $199,999 3,596 13.0% $1212
$200,000 to $249,999 2,810 10.0% $1461
$250,000 to $299,999 807 2.0% $1789
$300,000 to $399,999 679 2.0% $2276

Renters Insurance in Springfield

  • Average Renters Insurance in Springfield :  $315($26/month)

  • Median Gross Rent in Springfield :  $780

  • Springfield Renters Insurance to Median Rent Ratio:  3.33%

  • Average household size of renter-occupied unit :  2.64

Springfield Renters Insurance as a Percentage of Rent

Springfield Home By Monthly Rent Total Homes % of Total Estimated Monthly Income To Afford Rented House Including Renters Insurance
Less than $200 1,396 5.0% $378
$200 to $299 2,880 10.0% $828
$300 to $499 3,340 12.0% $1278
$500 to $749 5,166 19.0% $1953
$750 to $999 7,368 27.0% $2703
$1,000 to $1,499 5,859 21.0% $3828
$1,500 or more 1,083 3.0% $5478

Rent Affordability in Springfield:

Approximately 52.0% (14,678) of households are spending more than 35% of their income on gross rent in Springfield

Occupied units paying gross rent Total Households % of Total
Less than 15.0 percent 2,478 8.0%
15.0 to 19.9 percent 2,287 8.0%
20.0 to 24.9 percent 2,269 8.0%
25.0 to 29.9 percent 3,213 11.0%
30.0 to 34.9 percent 2,964 10.0%
35.0 percent or more 14,678 52.0%

Springfield Renters Insurance Discounts:

Springfield Renters Insurance Discounts by Number of Vehicles in Renter Occupied Housing Units

Number of Vehicles in Springfield, MA Number of Housing Units % of Total Renters Insurance Insurance Savings by Bundling Auto Insurance
1 vehicle available 13,334 47.0% $31.5
2 vehicles available 3,166 11.0% $47.25
3 or more vehicles available 628 2.0% $63.0

Protective device discount in Springfield Up to :  $47

Claims-free discount in Springfield Up to :  $63