Boston ,MA Home Insurance - The cost of homeowners insurance is influenced by a range of factors, including the value of your coverage, deductible, and the construction materials used in your home.
VHome Insurance conducted a thorough analysis of the Boston, MA homeowners insurance market, taking into account factors like average costs, range of coverages, deductibles and customer satisfaction ratings to determine the best providers. The Average home insurance cost in Boston, MA is $1594. Enter your zipcode below and click “GO” to get multiple free quotes.
It is important to understand the different coverage options available in Boston, MA. VHome Insurance will help you navigate the world of homeowners insurance coverages in Boston, MA.
| Coverage Level | Average Annual Premium |
|---|---|
| $100,000 | $638 |
| $200,000 | $1,084 |
| $300,000 | $1,339 |
| $400,000 | $2,040 |
| $500,000 | $2,566 |
One key aspect of your policy is the deductible, which is the amount you pay out of pocket before your insurance kicks in. Choosing the right deductible can have a major impact on your insurance premiums and overall savings. In this guide, we'll help you understand the options available for homeowners insurance deductibles in Boston, MA, and how to choose the right one for your needs.
| Deductible Level | Average Annual Premium |
|---|---|
| $500 Deductible | $1,634 |
| $1000 Deductible | $1,462 |
| $1500 Deductible | $1,379 |
| $2500 Deductible | $1,243 |
| $5000 Deductible | $1,052 |
| Home Insurance Company Near Boston, MA | Homeowners Insurance Agency Near Boston, MA | Address |
|---|---|---|
| NA | The Corporate Benefits Group Llc | 100 Conifer Hill Dr Ste 103, Danvers, MA, 1923 |
| NA | Insurancebee Inc. | 2 Clock Tower Place Ste. 425, Maynard, MA, 1754 |
| Travelers | A James Lynch Insurance Agency | 297 BROADWAY, LYNN, MA, 1904 |
| Nationwide | James M Dolan | 560 Mendon Rd, Cumberland, RI, 02864-6215 |
| Travelers | Telamon Insurance & Financial Network Llc | 150 WELLS AVE, NEWTON, MA, 2459 |
| Place | 1 Car Bundle Savings On Insurance | 2 Car Bundle Savings On Insurance | 3 Car Bundle Savings On Insurance |
|---|---|---|---|
| Suffolk County, Massachusetts | $159 | $212 | $318 |
| Winthrop Town city, Massachusetts | $158 | $211 | $317 |
| Chelsea city, Massachusetts | $155 | $206 | $309 |
| Place | Home insurance as a % of housing cost for homes with mortgage | Home insurance as a % of housing cost for homes without mortgage |
|---|---|---|
| Boston, MA | 3.8% | 12.3% |
| Suffolk County | 3.85% | 12.1% |
| Winthrop Town | 3.95% | 10.23% |
| Chelsea | 4.11% | 12.17% |
| Boston Home By Monthly Rent | Total Homes | % of Total | Estimated Monthly Income To Afford Rented House Including Renters Insurance |
|---|---|---|---|
| Less than $200 | 5,124 | 3.0% | $344 |
| $200 to $299 | 12,893 | 8.0% | $794 |
| $300 to $499 | 11,686 | 7.0% | $1244 |
| $500 to $749 | 10,612 | 6.0% | $1919 |
| $750 to $999 | 14,985 | 9.0% | $2669 |
| $1,000 to $1,499 | 48,473 | 30.0% | $3794 |
| $1,500 or more | 56,310 | 35.0% | $5444 |
| Streets in Boston Area | Homeowners Insurance Cost |
|---|---|
| Hartley Ter, Stanhope St, Reservoir Ct, Pitsmoor Rd, Douglas St, Laconia St, Eliot Pl, Winship St, Laurel Ave, Howard Ave | $993 |
| Orchardhill Rd, Enneking Pkwy, Baker St, Rodman St, Wadsworth St, Child St, Landseer St, Wilkinson Park, M Street Pl, Fulda St | $1,043 |
| Hartford St, Legion Pl, Montfern Ave, Richwood St, Holmfield Ave, Lafield St, Reddy Ave, Lawley St, Harmon St, Hanover St | $1,099 |
| Stockton St, Locust St, Lindall Pl, Port Norfolk St, Hautevale St, Merriam St, Edgewood St, Fawndale Rd, Holbrook St, Lattimore Ct | $1,053 |
| W Thompson St, Sewall St, Gem Ave, 9th St, Castleton St, Rocky Nook Ter, Martinwood Rd, Elmira St, Frazer St, Strathmore Rd | $1,049 |
| Cedar Grove St, Hospital Rd, Rutland St, St James Ave, Seaport Ln, Milton Ter, W 6th St, Newmarket Sq, Emery Rd, Millet St | $1,051 |
| Norton St, Chelmsford St, Radcliffe Rd, Centre Street Ter, Edith St, Wellsmere Park, Quaker Ln, Morrill St, Sinclair Rd, Thompson St | $1,051 |
| Mansur St, Monument Ct, Camp Rd, O St, Cary St, Erie St, St Marys St, Chicamauga Park, Gaffney St, Goldsmith St | $1,049 |
| Eldon St, Iroquois St, Farragut Rd, Ditmus Ct, Dorset St, Fernwood Rd, Delano Park, Schirmer Rd, Necco St, Jackson St | $1,133 |
| Nixon St, Wilton St, Coolidge Rd, Bothwell Rd, Bowditch Rd, Walker St, Dunbar Ave, Cricket Ln, Dunning Way, Lawrence Ave | $1,100 |
| Place | Savings For Senior Occupied Homes |
|---|---|
| Boston | $159 to $161 |
| Suffolk County | $159 |
| Winthrop Town | $158 |
| Chelsea | $154 |
| Low Deductible | High Deductible | |
|---|---|---|
| Deductible | $800 | $2,800 |
| Yearly Boston Homeowner Insurance Premium Example | $1,900 | $1,500 |
| Out of Pocket Expense During Claim | $800 | $2,800 |
| Total Home Insurance Premium for 7 years + Out of Pocket Expense for Claim | $14,100 | $13,300 |
| Net Savings to Boston Home Owner from High Deductible Plan | $800 | |
| Scenario | Boston, MA Home Replacement Value MORE than Home Value | Boston, MA Home Replacement Value LESS than Home Value |
|---|---|---|
| Replacement Value | $374,500 | $266,500 |
| Insurance Premium based on Replacement Value | $3,600 | $2,550 |
| Risk Exposure from Under Insuring Coverage | Unnecessary Home Insurance Coverage of $51,000 | Risk Exposure from Under Insuring Coverage is $57,000 |
| Premium Impact | Insurance cheaper by $550/year | Insurance costlier by $500/year |
| Insurance Company | Allstate | Liberty Mutual | Chubb Group of Insurance |
| Monthly Premium | 88 | 177 | 270 |
| Year Built | 1948 | 1948 | 1945 |
| Home Details | 2 Beds, 1 Baths | 3 Beds, 1 Baths | 4 Beds, 1 Baths |
| Coverage Amount | $150000-$175000 | $250000-$300000 | $400000-$500000 |
| Deductible | $500 Deductible | $500- $1000 Deductible | $500- $1000 Deductible |