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Last updated on Sep 04, 2020

The Best Homeowners Insurance Companies in Massachusetts

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    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 insurance companies


    Average Price AM Best Financial StrengthJ.D. Power Overall Customer Satisfaction
    Metropolitan Insurance$833
    A+877/1,000
    Allstate$900A+882/1,000
    AIG$614A876/1,000
    New England Mutual$927A+N/A
    Chubb$1,632A++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.

    Metropolitan Insurance

    Best for Replacement Cost Coverage

    Why we chose it

    MetLife offers replacement cost coverage, at an affordable rate, which is hard to find. It’s also one of the few insurance providers in the U.S. that you can pair with NFIP flood insurance.
    • 3.5 Reviews Score
    • A+ AM Best Rate AM Best rates car insurance provider’s creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim.
    • 877* J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.
    • A- BBB Rating The BBB rates companies based on trustworthiness and performance. The company uses a variety of factors, including how the company handles customer complaints.

    Why we chose it

    MetLife offers replacement cost coverage, at an affordable rate, which is hard to find. It’s also one of the few insurance providers in the U.S. that you can pair with NFIP flood insurance.

    Pros

    • Offers replacement cost coverage
    • Can bundle with auto insurance
    • Can easily pair with flood insurance

    Cons

    • Average customer reviews
    Read More

    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

    Allstate

    Best For New Homebuyers

    Why we chose it

    Allstate’s discounts add up to lower premiums, making the company a good choice for anyone who’s looking to save a few dollars on their premium costs. Allstate is also generous in their coverage, providing up to $10,000 for accidental damage.
    • 4 Reviews Score
    • A+ AM Best Rate AM Best rates car insurance provider’s creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim.
    • 882* J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.
    • A+ BBB Rating The BBB rates companies based on trustworthiness and performance. The company uses a variety of factors, including how the company handles customer complaints.

    Why we chose it

    Allstate’s discounts add up to lower premiums, making the company a good choice for anyone who’s looking to save a few dollars on their premium costs. Allstate is also generous in their coverage, providing up to $10,000 for accidental damage.

    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
    Read More

    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.

    AIG

    Best for High-Value Homes

    Why we chose it

    With AIG, homeowners can get affordable and comprehensive coverage for high-value homes. AIG also offers a variety of discounts that can help you save money on your policy.
    • 4.25 Reviews Score
    • A AM Best Rate AM Best rates car insurance provider’s creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim.
    • 876* J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.
    • B BBB Rating The BBB rates companies based on trustworthiness and performance. The company uses a variety of factors, including how the company handles customer complaints.

    Why we chose it

    With AIG, homeowners can get affordable and comprehensive coverage for high-value homes. AIG also offers a variety of discounts that can help you save money on your policy.

    Pros

    • Offers comprehensive coverage options
    • Members can save through a variety of discounts

    Cons

    • Consumer reviews could be better
    • Must bundle with car insurance
    Read More

    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.

    New England Mutual

    Best for Customizable Coverage

    Why we chose it

    With New England Mutual, you can easily customize your coverage instead of picking from cookie cutter options. It also makes it easy to lower your premium with various discounts.
    • N/A Reviews Score
    • A+ AM Best Rate AM Best rates car insurance provider’s creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim.
    • N/A J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.
    • A+ BBB Rating The BBB rates companies based on trustworthiness and performance. The company uses a variety of factors, including how the company handles customer complaints.

    Why we chose it

    With New England Mutual, you can easily customize your coverage instead of picking from cookie cutter options. It also makes it easy to lower your premium with various discounts.

    Pros

    • Truly customize your coverage
    • Save with discounts

    Cons

    • Lack of online presence
    Read More

    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.

    Chubb

    Best for Added Perks

    Why we chose it

    Even though it’s limited to high-end homes, Chubb offers relatively affordable premiums for high coverage limits, and free perks, like complimentary tree removal and computer maintenance. The company also offers a long list of discounts.
    • 3.75 Reviews Score
    • A++ AM Best Rate AM Best rates car insurance provider’s creditworthiness. Ratings are based on the provider’s ability to follow through with a payout when a consumer files a claim.
    • 871* J.D. Power J.D. Power scores are based on surveys for customer satisfaction and product quality.
    • A+ BBB Rating The BBB rates companies based on trustworthiness and performance. The company uses a variety of factors, including how the company handles customer complaints.

    Why we chose it

    Even though it’s limited to high-end homes, Chubb offers relatively affordable premiums for high coverage limits, and free perks, like complimentary tree removal and computer maintenance. The company also offers a long list of discounts.

    Pros

    • High customer satisfaction
    • Numerous, easy to achieve discounts
    • Members get a variety of freebies

    Cons

    • Specializes in high end homes
    Read More

    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.

    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).

    The Cheapest Homeowner Insurance Companies in Massachusetts

    Largest Companies by Market Share in MassachusettsAverage Annual Premium
    AIG Prop. Cas. Co.$614
    Metropolitan Insurance$833
    Allstate$900
    New England Mutual Ins. Co.$927
    USAA$1,049
    Quincy Mutual Fire Ins. Co.$1,133
    Preferred Mutual Ins. Co.$1,196
    Arbella Mut. Ins. Co.$1,277
    Bunker Hill Ins. Co.$1,287
    Bankers Standard Ins. Co.$1,339
    Northern Security Ins. Co.$1,353
    Dorchester Mutual Ins. Co.$1,412
    Norfolk & Dedham Mutual Fire Ins. Co.$1,564
    Chubb$1,632
    Citizens Ins. Co. Of America$1,710
    Massachusetts Bay Ins. Co.$1,843
    Merrimack Mut. Fire Ins. Co.$1,843
    Amica$1,844
    MAPFRE$1,868
    The Hanover$1,975
    Narragansett Bay Ins Co$2,036
    Average Across Insurance Companies$1,411

    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 Cheapest Homeowners Insurance Companies in Massachusetts 

    • AIG Prop. Cas. Co. — $614
    • Metropolitan Insurance — $833
    • Allstate — $900

    Top 3 Most Expensive Homeowners Insurance Companies in Massachusetts

    • Narragansett Bay Ins. Co. — $2,036
    • The Hanover — $1,975
    • MAPFRE — $1,868

    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?

    The cheapest home insurance provider in Massachusetts is currently AIG Property Casualty Company.

    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

    Elizabeth Rivelli Contributing Writer

    Elizabeth Rivelli is a Rhode Island-based copywriter and content marketing consultant. She has expertise writing about home, auto and business insurance, and has been published in widely-read publications, including the Simple Dollar, Bankrate and Decision Data. Elizabeth holds a BA in Communications from Northeastern University in Boston.

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