Springfield ,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 Springfield, 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 Springfield, MA is $1443. Enter your zipcode below and click “GO” to get multiple free quotes.
It is important to understand the different coverage options available in Springfield, MA. VHome Insurance will help you navigate the world of homeowners insurance coverages in Springfield, MA.
| Coverage Level | Average Annual Premium |
|---|---|
| $100,000 | $577 |
| $200,000 | $981 |
| $300,000 | $1,212 |
| $400,000 | $1,847 |
| $500,000 | $2,323 |
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 Springfield, MA, and how to choose the right one for your needs.
| Deductible Level | Average Annual Premium |
|---|---|
| $500 Deductible | $1,480 |
| $1000 Deductible | $1,323 |
| $1500 Deductible | $1,248 |
| $2500 Deductible | $1,126 |
| $5000 Deductible | $952 |
| Home Insurance Company Near Springfield, MA | Homeowners Insurance Agency Near Springfield, MA | Address |
|---|---|---|
| NA | Mirick Insurance Agency | 28 Bridge Street , Shelburne Falls, MA, 1370 |
| NA | Assurance Group Inc | 45 Lyman Street Suite 25, Westborough, MA, 1581 |
| Liberty Mutual | Amy Varza | 751 Straits Turnpike Ste 1000, Middlebury, CT, 6762 |
| Travelers | Mccrillis & Keep Insurance Agcy, Inc. | 44 AUBURN ST, AUBURN, MA, 1501 |
| Travelers | Mcgrath Insurance Group Inc | 258 MAIN ST, STURBRIDGE, MA, 1566 |
| Place | 1 Car Bundle Savings On Insurance | 2 Car Bundle Savings On Insurance | 3 Car Bundle Savings On Insurance |
|---|---|---|---|
| East Longmeadow town, Hampden County, Massachusetts | $129 | $171 | $257 |
| Chicopee city, Massachusetts | $125 | $167 | $250 |
| Longmeadow CDP, Massachusetts | $132 | $175 | $263 |
| Place | Home insurance as a % of housing cost for homes with mortgage | Home insurance as a % of housing cost for homes without mortgage |
|---|---|---|
| Springfield, MA | 5.8% | 15.3% |
| East Longmeadow | 4.34% | 12.75% |
| Chicopee | 5.92% | 15.77% |
| Longmeadow | 3.72% | 9.79% |
| 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 |
| Streets in Springfield Area | Homeowners Insurance Cost |
|---|---|
| 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 |
| Place | Savings For Senior Occupied Homes |
|---|---|
| Springfield | $148 to $151 |
| East Longmeadow | $154 |
| Chicopee | $150 |
| Longmeadow | $158 |
| Low Deductible | High Deductible | |
|---|---|---|
| Deductible | $1,600 | $4,600 |
| Yearly Springfield Homeowner Insurance Premium Example | $2,000 | $1,500 |
| Out of Pocket Expense During Claim | $1,600 | $4,600 |
| Total Home Insurance Premium for 8 years + Out of Pocket Expense for Claim | $17,600 | $16,600 |
| Net Savings to Springfield Home Owner from High Deductible Plan | $1,000 | |
| Scenario | Springfield, MA Home Replacement Value MORE than Home Value | Springfield, MA Home Replacement Value LESS than Home Value |
|---|---|---|
| Replacement Value | $161,000 | $111,000 |
| Insurance Premium based on Replacement Value | $1,400 | $975 |
| Risk Exposure from Under Insuring Coverage | Unnecessary Home Insurance Coverage of $23,000 | Risk Exposure from Under Insuring Coverage is $27,000 |
| Premium Impact | Insurance cheaper by $225/year | Insurance costlier by $200/year |
| Insurance Company | Chubb Group of Insurance | State Farm | Amica Mutual Insurance Company |
| Monthly Premium | 152 | 108 | 68 |
| Year Built | 1954 | 1968 | 1984 |
| Home Details | 4 Beds, 1 Baths | 5 Beds, 3 Baths | 2 Beds, 1 Baths |
| Coverage Amount | $350000-$400000 | $125000-$150000 | $100000-$125000 |
| Deductible | $5000 to $10,000 Deductible | $500 Deductible | $500 Deductible |