Who Has The Cheapest Homeowners Insurance Quotes In Massachusetts?

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Contents


Cheapest Places
Most Expensive Places
Study Outliers: Islands
Comparison of Homeowners Insurance Rates in Massachusetts
Study Methodology

Massachusetts is one of the smallest states in the U.S. but has nearly 7 million residents, making it one of the more densely populated. More than 80% of the people living in the New England state also live in the Greater Boston Combined Statistical Area. To see who has the cheapest and most expensive homeowners insurance rates, we evaluated quotes for a sample property (a home with 2,000 square feet of living space and one full and one half bathroom). The results showed the most expensive homeowners insurance rates were more than 6x higher than the cheapest. Since we used one sample property, the rates have comparative value, but are not indicative of what all tenants can expect to pay for their homeowners insurance. 

Cheapest Homeowners Insurance Companies in Massachusetts

To find the cheapest homeowners insurance in the state of Massachusetts, we collected quotes from Amica, Progressive, and Liberty Mutual for a benchmark home of 2,000 square-feet. We determined that Amica offered the cheapest average annual premium at $691, which is about 71% lower than the more expensive average annual premium offered by Liberty Mutual. The following table lists the mean annual insurance premiums for the three companies from most affordable to least affordable:

RankCheapest Homeowners Insurance CompaniesAverage Annual Rates
1 Amica $691
2 Progressive  1,145
3 Liberty Mutual  2,415
Average  1,417

The above rates were obtained for a sample property. To find the best homeowners insurance policy for yourself, we urge you to find quotes from multiple companies and compare them.

Best Homeowners Insurance Rates in Massachusetts: by City

The five places with the best homeowners insurance rates in Massachusetts are all in the eastern half of the state and four are located within 25 miles of Boston. The city with the cheapest rates was Everett, where the premiums quoted were 67% lower than the state average.   

RankCityAverage Annual RateDifference vs. State Average
1 Everett $454 -67%
2 Amesbury 720 -48%
3 Melrose 723 -48%
4 Malden 756 -46%
5 Peabody 765 -45%

Everett, MA

Everett has the cheapest homeowners insurance in the state of Massachusetts. The city is just across the Mystic River from Boston and has more than 42,000 residents. A number of films and the ABC series Boston’s Finest are set in the city. Out of the 177 places surveyed in our study, Everett had the cheapest homeowners insurance quotes in the state - rates were 67% lower than the Massachusetts average.

Amesbury, MA

Amesbury is in the northeast corner of Massachusetts - right against the border of New Hampshire. It has more than 16,000 residents and a number of historical sites. Amesbury also has some of the most affordable homeowners insurance rates in Massachusetts. Our study found that rates quoted were 48% lower than the state average.

Melrose, MA

Just 10 miles north of Boston, Melrose is a “perfect compromise between a busy city and peaceful landscape,” according to the city’s website. It is mostly residential and has many Victorian homes, but also has a thriving business community enjoyed by its more than 28,000 residents. Melrose has some of the lowest home insurance rates in Massachusetts, with quotes for our sample property 48% lower than the state average.

Malden, MA

Malden is between Everett and Melrose and also a short distance from Boston. More than 60,000 people live there and it was named "Best Place to Raise Your Kids" in Massachusetts by Bloomberg Businessweek in 2009. It has a number of distinct neighborhoods and some of the best homeowners insurance rates in the state. Quotes from homeowners insurance rates in Malden were 46% lower than the Massachusetts average.

Peabody, MA

With a population of more than 51,000 residents, Peabody is located in the North Shore region of Massachusetts and only 25 miles from Boston. It was settled as a farming community but now has many restaurants, hotels and historic sites that attract visitors. Homeowners insurance rates in Peabody were 45% lower than the state average.

Most Expensive Homeowners Insurance in Massachusetts

Below are the five most expensive places in the mainland Massachusetts. All five places are located on Cape Cod, the peninsula peppered with vacation towns and known for its agriculture, beaches and maritime traditions. When rounded, all five places had rates that were 2.14x the cost of the Massachusetts average. 

RankCityAverage Annual Rate*Difference vs. State Average
1 Chatham $2,979 114%
2 Falmouth 2,979 114%
3 Harwich 2,979 114%
4 Hyannis 2,979 114%
5 Mashpee 2,979 114%

*The annual premiums displayed are rounded to the nearest whole dollar amount. 

Chatham, MA

The mainland place with the most expensive homeowners insurance in Massachusetts is Chatham. The town in Barnstable County is located at the southeast corner of Cape Cod, a peninsula and popular vacation spot. It is home to more than 6,000 residents and has the least affordable renters insurance on the mainland, with rates 2.14x higher than the state average.

Falmouth, MA

Another town in Barnstable County, Falmouth is the second largest municipality on Cape Cod (behind Barnstable). It has more than 31,000 residents and a large number of science institutions. Casey Affleck, an actor and brother of Ben Affleck, was born in Falmouth. The town also has expensive homeowners insurance - rates quotes in Falmouth were roughly 2x the state average.  

Harwich, MA

Harwich has a population of about 12,200 residents and is a quite resort and agriculture community on Cape Cod. Seasonally, the population grows to roughly 37,000. Homeowners insurance quotes for Harwich were also 2.14x the Massachusetts average.

Hyannis, MA

The largest of the seven villages in the town of Barnstable, Hyannis is a popular tourist destination and the primary ferry and aviation start for those destined for Nantucket Island. Cape Cod Potato Chips is headquartered in Hyannis. Premiums for homeowners insurance also are some of the most expensive in the state, with quotes that were more than twice as expensive that the state average. 

Mashpee, MA

Mashpee is a Barnstable County town with a population of more than 14,000 and has numerous historic sites and is another popular vacation destination. William Rosenberg, the founder of Dunkin Donuts, had a home in Mashpee and The Food Channel personality Rachael Ray grew up there. Rates for homeowners insurance in Mashpee are some of the most expensive in the state. Quotes for the town are 2.14x the state average.

Study Outliers: Islands

We excluded two places in our study: the island of Nantucket and Edgartown, a town on Martha’s Vineyard island. The two were excluded from the state average and our list of the top five most expensive places because they were not on the mainland and both were extremely expensive, relative to the other places in the study. 

Nantucket, MA

The town of Nantucket is on the small island and county with the same name. It’s off the southern coast of Cape Cod and a popular vacation spot. It’s known for it’s dune-backed beaches and cedar-shingled buildings and has a population of more than 50,000 during the peak travel season. In 2008, Forbes titled Nantucket has having some of the most expensive home prices per-square-foot in the country, even more than the Hamptons on Long Island. Only one company gave a quote for our sample home in the town, which was 3.74x the cost of the state average in Massachusetts.

Edgartown, MA

Edgartown is a town of about 4,000 residents on Martha’s Vineyard island, which is off the southern coast of Cape Cod. It is the county seat of Dukes County, the largest county on the island, and was once a whaling port. Today, it is a popular summer vacation spot and has it’s own lighthouse, the Harbor Light. Homeowners insurance rates in Edgartown were some of the most expensive in Massachusetts. Rates for the property were 3.14x as much as the Massachusetts average. 

RankCityAverage Annual RateDifference vs. State Average
1 Nantucket  $5,213 274%
2 Edgartown  4,371 214%

Average Cost of Homeowners Insurance in Massachusetts: by City

Our study of homeowners insurance premiums in Massachusetts was done by gathering quotes from three major carriers in the state. The comparative study showed that rates in the most expensive place on the mainland were 85% higher than those in the cheapest place.

Study Methodology

The data for this study was collected across three major insurers within the state of Massachusetts. Quotes were collected for the same sample home and homeowner in each of the cities. The property was a two-story, single-family home built 15 years ago. The residence had 2,000 square feet, one full bathroom and one half bath, and an attached garage. The homeowner in the study was a 41-year-old, non-smoking, male. He does not own any dogs, or exotic pets, and does not own a trampoline or swimming pool. The insured also did not file any loss claims in the past.

We excluded two places in our study: the island of Nantucket and Edgartown, a town on Martha’s Vineyard island. The two were excluded from the state average and our list of the top five most expensive places because they were not on the mainland and both were extremely expensive, relative to the other places in the study. 

RankCity Average Annual Rate Difference vs. State Average
143 Abington  $1,499 8%
67 Acton  1,208 -13%
102 Agawam  1,289 -8%
2 Amesbury  720 -48%
32 Amherst  1,094 -21%
128 Andover  1,396 0%
86 Arlington  1,255 -10%
85 Ashland  1,250 -10%
51 Athol  1,170 -16%
129 Attleboro  1,397 0%
70 Auburn  1,211 -13%
118 Avon  1,346 -3%
42 Ayer  1,150 -17%
164 Barnstable  2,886 107%
78 Bedford  1,238 -11%
35 Belchertown  1,119 -20%
104 Bellingham  1,293 -7%
123 Belmont  1,356 -3%
149 Berkley  1,557 12%
29 Beverly  1,087 -22%
55 Billerica  1,178 -15%
144 Bolton  1,501 8%
68 Boston  1,209 -13%
165 Bourne  2,886 107%
134 Boxford  1,426 2%
9 Braintree  792 -43%
166 Brewster  2,886 107%
157 Bridgewater  1,598 15%
161 Brockton  1,815 30%
28 Brookline  1,080 -22%
89 Burlington  1,264 -9%
11 Cambridge  895 -36%
107 Canton  1,313 -6%
154 Carlisle  1,577 13%
63 Carver  1,199 -14%
80 Charlton  1,238 -11%
169 Chatham  2,979 114%
52 Chelmsford  1,173 -16%
133 Chelsea  1,422 2%
36 Chicopee  1,122 -19%
62 Clinton  1,198 -14%
22 Cohasset  1,045 -25%
87 Concord  1,255 -10%
8 Danvers  789 -43%
167 Dennis  2,886 107%
159 Dighton  1,637 18%
135 Dover  1,430 3%
92 Duxbury  1,265 -9%
69 East Boston  1,209 -13%
155 East Bridgewater  1,593 14%
40 East Longmeadow  1,140 -18%
163 Easton  1,999 43%
175 Edgartown  4,371 214%
30 Essex  1,087 -22%
1 Everett  454 -67%
21 Fall River  1,042 -25%
170 Falmouth  2,979 114%
39 Fitchburg  1,139 -18%
122 Foxboro  1,355 -3%
101 Framingham  1,285 -8%
109 Franklin  1,319 -5%
43 Gardner  1,153 -17%
112 Georgetown  1,322 -5%
58 Gloucester  1,181 -15%
71 Grafton  1,212 -13%
19 Great Barrington  1,028 -26%
18 Greenfield  1,008 -28%
47 Groton  1,163 -17%
160 Halifax  1,783 28%
14 Hamilton  980 -30%
150 Hanover  1,559 12%
158 Hanson  1,613 16%
97 Harvard  1,267 -9%
171 Harwich  2,979 114%
27 Hatfield  1,080 -22%
114 Haverhill  1,325 -5%
23 Hingham  1,070 -23%
120 Holbrook  1,353 -3%
48 Holden  1,164 -16%
103 Holliston  1,289 -7%
41 Holyoke  1,146 -18%
84 Hopedale  1,250 -10%
105 Hopkinton  1,296 -7%
75 Hudson  1,224 -12%
93 Hull  1,265 -9%
33 Huntington  1,096 -21%
172 Hyannis  2,979 114%
20 Ipswich  1,035 -26%
94 Kingston  1,265 -9%
162 Lakeville  1,841 32%
140 Lawrence  1,459 5%
54 Leominster  1,173 -16%
131 Lexington  1,411 1%
119 Lincoln  1,347 -3%
49 Littleton  1,167 -16%
106 Lowell  1,299 -7%
37 Ludlow  1,123 -19%
76 Lynn  1,229 -12%
4 Malden  756 -46%
59 Manchester  1,181 -15%
141 Mansfield  1,483 6%
46 Marblehead  1,162 -17%
146 Marion  1,522 9%
79 Marlborough  1,238 -11%
95 Marshfield  1,265 -9%
173 Mashpee  2,979 114%
147 Mattapoisett  1,522 9%
64 Maynard  1,200 -14%
66 Medfield  1,207 -13%
7 Medford  786 -44%
116 Medway  1,332 -4%
3 Melrose  723 -48%
100 Mendon  1,279 -8%
127 Middleton  1,391 0%
82 Milford  1,241 -11%
72 Millbury  1,214 -13%
10 Milton  811 -42%
176 Nantucket  5,213 274%
91 Natick  1,265 -9%
130 Needham  1,397 0%
115 New Bedford  1,331 -4%
16 Newburyport  985 -29%
136 Newton  1,433 3%
121 Norfolk  1,353 -3%
132 North Andover  1,419 2%
139 North Attleboro  1,452 4%
31 Northampton  1,091 -22%
74 Northborough  1,219 -13%
142 Norton  1,494 7%
24 Norwell  1,070 -23%
125 Norwood  1,367 -2%
53 Palmer  1,173 -16%
5 Peabody  765 -45%
17 Pembroke  1,002 -28%
38 Pepperell  1,139 -18%
26 Pittsfield  1,071 -23%
151 Plymouth  1,560 12%
174 Provincetown  2,979 114%
15 Quincy  984 -29%
148 Randolph  1,545 11%
152 Raynham  1,561 12%
90 Reading  1,264 -9%
137 Revere  1,439 3%
153 Rockland  1,563 12%
25 Salem  1,071 -23%
168 Sandwich  2,886 107%
13 Saugus  977 -30%
96 Scituate  1,265 -9%
124 Sharon  1,360 -2%
45 Shirley  1,157 -17%
60 Shrewsbury  1,189 -15%
50 Somerset  1,170 -16%
12 Somerville  895 -36%
34 South Hadley  1,099 -21%
110 Southborough  1,320 -5%
73 Southbridge  1,215 -13%
61 Southwick  1,191 -14%
65 Spencer  1,201 -14%
99 Springfield  1,276 -8%
145 Stoneham  1,502 8%
117 Stoughton  1,332 -4%
81 Sturbridge  1,240 -11%
111 Sudbury  1,321 -5%
57 Swampscott  1,178 -15%
156 Taunton  1,596 15%
56 Tewksbury  1,178 -15%
98 Uxbridge  1,276 -8%
113 Waltham  1,325 -5%
77 Webster  1,238 -11%
126 Wellesley  1,375 -1%
6 Wenham  765 -45%
83 Westborough  1,247 -10%
44 Winchendon  1,156 -17%
138 Winthrop  1,439 3%
88 Woburn  1,260 -10%
108 Worcester  1,318 -5%

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