Lowell ,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 Lowell, 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 Lowell, MA is $1492. Enter your zipcode below and click “GO” to get multiple free quotes.
It is important to understand the different coverage options available in Lowell, MA. VHome Insurance will help you navigate the world of homeowners insurance coverages in Lowell, MA.
| Coverage Level | Average Annual Premium |
|---|---|
| $100,000 | $597 |
| $200,000 | $1,015 |
| $300,000 | $1,253 |
| $400,000 | $1,910 |
| $500,000 | $2,402 |
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 Lowell, MA, and how to choose the right one for your needs.
| Deductible Level | Average Annual Premium |
|---|---|
| $500 Deductible | $1,530 |
| $1000 Deductible | $1,368 |
| $1500 Deductible | $1,291 |
| $2500 Deductible | $1,164 |
| $5000 Deductible | $985 |
| Home Insurance Company Near Lowell, MA | Homeowners Insurance Agency Near Lowell, MA | Address |
|---|---|---|
| NA | Wood & Associates Insurance Agency | 32 South Common St, Lynn, MA, 1902 |
| NA | Conte Insurance Agency Inc | 579 Pleasant Street, Paxton, MA, 1612 |
| Travelers | Brown & Brown Of New Hampshire | 93 WASHINGTON ST, DOVER, NH, 3820 |
| Liberty Mutual Independent | Hic Insurance | 725 LAFAYETTE RD, HAMPTON, NH, 3842 |
| Liberty Mutual Independent | Platinum Insurance Agency Inc | 418 Massachusetts Ave, ARLINGTON, MA, 2474 |
| Place | 1 Car Bundle Savings On Insurance | 2 Car Bundle Savings On Insurance | 3 Car Bundle Savings On Insurance |
|---|---|---|---|
| Dracut town, Middlesex County, Massachusetts | $155 | $207 | $311 |
| Chelmsford town, Middlesex County, Massachusetts | $158 | $210 | $315 |
| Tewksbury town, Middlesex County, Massachusetts | $158 | $210 | $315 |
| Place | Home insurance as a % of housing cost for homes with mortgage | Home insurance as a % of housing cost for homes without mortgage |
|---|---|---|
| Lowell, MA | 4.5% | 13.9% |
| Dracut | 4.6% | 14.85% |
| Chelmsford | 3.92% | 11.01% |
| Tewksbury | 3.82% | 12.65% |
| Lowell Home By Monthly Rent | Total Homes | % of Total | Estimated Monthly Income To Afford Rented House Including Renters Insurance |
|---|---|---|---|
| Less than $200 | 394 | 1.0% | $366 |
| $200 to $299 | 1,655 | 8.0% | $816 |
| $300 to $499 | 1,547 | 7.0% | $1266 |
| $500 to $749 | 2,697 | 13.0% | $1941 |
| $750 to $999 | 4,887 | 24.0% | $2691 |
| $1,000 to $1,499 | 7,565 | 37.0% | $3816 |
| $1,500 or more | 1,565 | 7.0% | $5466 |
| Streets in Lowell Area | Homeowners Insurance Cost |
|---|---|
| Malden Ave, Rosemont St, Enfield St, Dover Sq, Lura St, Nicole Dr, Vaughn St, Rogers Ave, Berry Rd, Hereford Pl | $1,018 |
| O'Brien Ter, Lamb St, Brookings St, Kianthi Dr, Colwell Ave, Harris Ave, Dumerle St, Court Ave, Butman Rd, Cheney Pl | $1,031 |
| London St, Ursula St, Sanders Ave, Willie St, Forestview Ave, Belle Ave, Rockingham Ave, Thorndike Rd, Lund St, Karen St | $1,032 |
| Harlem St, Keene St, Mansion Dr, Homestead Rd, Tyng St, Aiken St, Lupine St, Riverby St, Middlesex Park, Read St | $1,002 |
| Bailey Ln, Manahan St, Crowley St, Gerson Ter, Dempsey Pl, Ready Ave, W Albert St, Westboro St, Starbird St, Lowell Research Center Dr | $1,026 |
| Place | Savings For Senior Occupied Homes |
|---|---|
| Lowell | $152 to $155 |
| Dracut | $155 |
| Chelmsford | $158 |
| Tewksbury | $157 |
| Low Deductible | High Deductible | |
|---|---|---|
| Deductible | $1,400 | $3,400 |
| Yearly Lowell Homeowner Insurance Premium Example | $1,300 | $900 |
| Out of Pocket Expense During Claim | $1,400 | $3,400 |
| Total Home Insurance Premium for 7 years + Out of Pocket Expense for Claim | $10,500 | $9,700 |
| Net Savings to Lowell Home Owner from High Deductible Plan | $800 | |
| Scenario | Lowell, MA Home Replacement Value MORE than Home Value | Lowell, MA Home Replacement Value LESS than Home Value |
|---|---|---|
| Replacement Value | $186,500 | $125,000 |
| Insurance Premium based on Replacement Value | $1,800 | $1,200 |
| Risk Exposure from Under Insuring Coverage | Unnecessary Home Insurance Coverage of $41,500 | Risk Exposure from Under Insuring Coverage is $20,000 |
| Premium Impact | Insurance cheaper by $200/year | Insurance costlier by $400/year |
| Insurance Company | Allstate | Chubb Group of Insurance | State Farm |
| Monthly Premium | 200 | 119 | 163 |
| Year Built | 1994 | 1948 | 1994 |
| Home Details | 5 Beds, 4 Baths | 4 Beds, 2 Baths | 3 Beds, 2 Baths |
| Coverage Amount | $300000-$350000 | $250000-$300000 | $200000-$250000 |
| Deductible | $500 Deductible | $5000 to $10,000 Deductible | $500 Deductible |