The cost of living in Massachusetts is high, and so is the price of insurance. But to protect your home, it’s important to invest in a homeowners insurance policy.
Based on our research, the best home insurance companies in Massachusetts are Metropolitan Life, Allstate and AIG. These companies have affordable rates, and they offer comprehensive coverage and excellent financial strength.
To evaluate the best Massachusetts homeowners insurance providers, we looked at market share, coverage policies, and discounts for each provider.
The 5 Best Homeowners Insurance Companies in Massachusetts
Compare Massachusetts’s Top Home Insurance Companies
| Average Price | AM Best Financial Strength | J.D. Power Overall Customer Satisfaction | |
| Metropolitan Insurance | $833 | A+ | 877/1,000 |
| Allstate | $900 | A+ | 882/1,000 |
| AIG | $614 | A | 876/1,000 |
| New England Mutual | $927 | A+ | N/A |
| Chubb | $1,632 | A++ | 871/1,000 |
Best Massachusetts Homeowners Insurance Companies
Metropolitan Life
Metropolitan Life, better known as MetLife, offers a few enticing coverages, including full replacement cost for your home and belongings, without an enormous premium.
Best for Replacement Cost Coverage
Why we chose it
Why we chose it
Pros
- Offers replacement cost coverage
- Can bundle with auto insurance
- Can easily pair with flood insurance
Cons
- Average customer reviews
Discounts available
- Safety discount
- Policy bundling
- Group and employer discounts
Unique features
MetLife offers great coverage, including replacement cost coverage for your home and belongings, as well as flood insurance. You also get identity protection coverage with every policy.
*J.D. Power 2020 U.S. Property Claims Customer Satisfaction Study, based on a 1,000-point scale
Further Reading on Metropolitan Life:
Allstate
Allstate’s strength is in the diversity of its offerings and discounts, which allow you to pick and choose the coverage that works best for your circumstances. It has a great website, with tons of useful information
Best For New Homebuyers
Why we chose it
Why we chose it
Pros
- Diverse discount opportunities
- informative website and digital tools
- Above-average customer service
Cons
- NAIC complaint index high
- Financial strength ratings good, but not great
Discounts available
- Early signing discount
- Home buyer discount
- Hail-resistant roof discount
Unique features
Allstate’s discount list is longer than most national insurers. You could save up to 10% on your premiums if you sign up for your new policy at least 7 days before the current one expires.
*J.D. Power 2020 U.S. Property Claims Customer Satisfaction Study, based on a 1,000-point scale
Further Reading on Allstate:
AIG
AIG offers home insurance for high-value homes, so it’s a great option for homeowners who need coverage beyond basic limits, as well as extra coverage for valuables.
Best for High-Value Homes
Why we chose it
Why we chose it
Pros
- Offers comprehensive coverage options
- Members can save through a variety of discounts
Cons
- Consumer reviews could be better
- Must bundle with car insurance
Discounts available
- New home
- Policy bundling
- Gated community
Unique features
AIG offers exclusive home insurance to members of the Private Client Group. It specializes in coverage for luxury homes, and offers unique coverage for things like landscaping and fragile items.
*J.D. Power 2020 U.S. Property Claims Customer Satisfaction Study, based on a 1,000-point scale
Further Reading on AIG:
New England Mutual
New England Mutual sells coverage exclusively through independent agents, but the company offers a variety of flexible coverage options and discounts.
Best for Customizable Coverage
Why we chose it
Why we chose it
Pros
- Truly customize your coverage
- Save with discounts
Cons
- Lack of online presence
Discounts available
- None found
Unique features
New England Mutual offers a variety of coverage options and discounts, but you’ll have to call to talk to an independent agent.
Chubb
Chubb specializes in high end homes, so it’s a good option for homeowners who are looking for high coverage limits for their dwelling, personal property, and liability.
Best for Added Perks
Why we chose it
Why we chose it
Pros
- High customer satisfaction
- Numerous, easy to achieve discounts
- Members get a variety of freebies
Cons
- Specializes in high end homes
Discounts available
- Home safety features
- Policy bundling
- Newly built home
- Recently renovated home
- Gated community
- Claims-free
Unique features
Chubb sells comprehensive coverage for high-end homes, including some great freebies. Homeowners can save money with a number of discounts, including discounts specifically for city homes.
*J.D. Power 2020 U.S. Property Claims Customer Satisfaction Study, based on a 1,000-point scale
Average Cost of Homeowners Insurance in Massachusetts
According to the Insurance Information Institute, the average cost of home insurance in Massachusetts is $1,488 per year. Based on 2017 data, the Bay State is the ninth most expensive state for home insurance in the county. On average, Americans pay $1,211 per year for their insurance.
Top 3 Cheapest Homeowners Insurance Companies in Massachusetts
- Quincy Mut Grp . — $742 average annual premium
- ANDOVER Grp — $773 average annual premium
- MetLife — $945 average annual premium
Average Premium from Homeowner Insurance Companies in Massachusetts
Using Quadrant Information Services data, we analyzed home insurance companies in the United States and compared the best homeowners insurance rates in Massachusetts. We found that the average premium for home insurance in Massachusetts is $1,398. However, homeowners may be able to find cheap home insurance rates, like $742 a year with Quincy Mut Grp.
These are sample rates and should be used for comparative purposes only. Your quotes may be different.
The coverage limits in our methodology are these:
- Coverage A, Dwelling: $200,000
- Coverage B, Other Structures: $0
- Coverage C, Personal Property: $100,000
- Coverage D, Loss of Use: $40,000
- Coverage E, Liability: $250,000
- Coverage F, Medical Payments: $1,500
The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required).
| Carrier | Yearly Average Premium | Montly Average Prremium |
| The Hanover | $2,991.31 | $249.28 |
| Chubb | $2,157.35 | $179.78 |
| American Intl Grp | $1,797.08 | $149.76 |
| Preferred Mutual | $1,794.80 | $149.57 |
| Plymouth Rock | $1,613.52 | $134.46 |
| NBIC Holdings Grp | $1,487.28 | $123.94 |
| Safety | $1,457.84 | $121.49 |
| Travelers | $1,438.23 | $119.85 |
| USAA | $1,373.64 | $114.47 |
| Amica | $1,350.52 | $112.54 |
| PURE | $1,337.35 | $111.45 |
| Allstate | $1,306.00 | $108.83 |
| Ace Ltd Grp | $1,291.29 | $107.61 |
| MAPFRE Ins Grp | $1,279.42 | $106.62 |
| United Ins Holdings Grp | $1,187.21 | $98.93 |
| The Norfolk & Dedham Group | $1,066.33 | $88.86 |
| Arbella | $1,006.30 | $83.86 |
| Vermont Mutual | $963.08 | $80.26 |
| MetLife | $945.77 | $78.81 |
| ANDOVER Grp | $773.11 | $64.43 |
| Quincy Mut Grp | $742.17 | $61.85 |
Source:Coverage.com
Largest Companies by Market Share in Massachusetts
| Largest Companies by Market Share in Massachusetts |
| AIG Prop. Cas. Co. |
| Metropolitan Insurance |
| Allstate |
| New England Mutual Ins. Co. |
| USAA |
| Quincy Mutual Fire Ins. Co. |
| Preferred Mutual Ins. Co. |
| Arbella Mut. Ins. Co. |
| Bunker Hill Ins. Co. |
| Bankers Standard Ins. Co. |
| Northern Security Ins. Co. |
| Dorchester Mutual Ins. Co. |
| Norfolk & Dedham Mutual Fire Ins. Co. |
| Chubb |
| Citizens Ins. Co. Of America |
| Massachusetts Bay Ins. Co. |
| Merrimack Mut. Fire Ins. Co. |
| Amica |
| MAPFRE |
| The Hanover |
| Narragansett Bay Ins Co |
| Average Across Insurance Companies |
Cost of Homeowners Insurance by Age of Home
| Age of Home (years) | Sample Annual Premium |
| 0-10 | $1,393 |
| 10-25 | $1,630 |
| 25-50 | $1,697 |
| 50+ | $1,706 |
| Average Across Ages | $1,606 |
Top 3 Most Expensive Homeowners Insurance Companies in Massachusetts
- The Hanover — $2,991 average annual premium
- Chubb — $2,157 average annual premium
- MAPFRE — $1,868 average annual premium
Home Insurance Add-Ons That Will Further Protect You
In addition to basic coverages, like dwelling and personal property coverage, home insurance companies sell a variety of add-on policies that fill certain gaps. In Massachusetts, homeowners should consider purchasing flood insurance. Flood damage, which can come about after a hurricane or major storm, is not included with standard home insurance policies. In order to get protection, a separate flood insurance policy is necessary. The government offers flood insurance through the National Flood Insurance Program (NFIP).
Resources Helpful for Massachusetts Homeowners
If you’re buying homeowners insurance in Massachusetts for the first time, the state offers a number of helpful resources that can guide you through the process. Check out the Massachusetts Division of Insurance website for help choosing what type of policy to get, how to file a claim, and how payouts work.
Homeowners Insurance FAQ
Is homeowners insurance required in Massachusetts?
No, it is not legally required. However, if you have a mortgage, your lender will require you to have it. More importantly, a policy is needed before a homebuyer can even go through with closing.
What is the cheapest homeowners insurance in Massachusetts?
Based on our methodology the cheapest home insurance provider in Massachusetts is currently Quincy Mut Grp.
Methodology
We evaluated the companies based on their customer rating and experience, financial stability, and coverage to determine the best providers. To compare home insurance companies across the board, we then calculated a Reviews.com score based on the following:
- Customer Ratings — Customer ratings are an indication of satisfaction with the process of filing a claim. We measured this using J.D. Power Homeowners Satisfaction ratings.
- Coverage — As there isn’t one company to fit everyone’s needs, we evaluated companies by the amount of coverage options and add-ons available.
- Confidence — It is extremely important for insurance companies to fulfill customers’ claims. Companies with sound financial strength will not have issues paying out claims, regardless of the amount. However, companies with weak financial strength might not be able to pay out claims. We measured this using AM Best’s ratings, which specializes in assessing the financial strength of insurance companies.
- Customer Experience — The amount of complaints a company receives is an indicator of the overall customer experience as it expresses dissatisfaction. We have based this measure on the NAIC National Complaint Index.
About the Authors
Elizabeth Rivelli is an insurance writer for Reviews.com. Over the last year, she has covered insurance providers, best policies, industry trends and more. Elizabeth has been featured in The Simple Dollar, Bankrate and Coverage.com, among others. She holds a bachelor's degree in Communication Studies from Northeastern University in Boston, MA. The Best Term Life Insurance Companies is Elizabeth’s favorite review on Reviews.com.
