Best Boston Homeowners Insurance Quotes (2024)

AIG offers some of the cheapest homeowners insurance policies in Boston, with average annual premiums of $755.

Kim Porter
Written byKim Porter
Kim Porter
Kim Porter
  • Co-authored the book “Future Millionaires’ Guidebook”

  • 13 years writing personal finance content

A former chief copy editor at Bankrate and past managing editor at Macmillan, Kim specializes in writing easy-to-understand, actionable personal finance content.

Featured in

media logomedia logomedia logo
Ashley Cox
Edited byAshley Cox
Headshot of Managing Editor Ashley Cox
Ashley CoxSenior Managing Editor
  • 7+ years in content creation and management

  • 5+ years in insurance and personal finance content

Ashley is a seasoned personal finance editor who’s produced a variety of digital content, including insurance, credit cards, mortgages, and consumer lending products.

Featured in

media logomedia logomedia logomedia logo

Updated August 7, 2024

Save up to $852 by comparing quotes from the top 100+ insurance companies

Excellent
Secure. Free. Easy-to-use.
ProgressiveLiberty MutualAllstate
Advertiser Disclosure

At Insurify, our goal is to help customers compare insurance products and find the best policy for them. We strive to provide open, honest, and unbiased information about the insurance products and services we review. Our hard-working team of data analysts, insurance experts, insurance agents, editors and writers, has put in thousands of hours of research to create the content found on our site.

We do receive compensation when a sale or referral occurs from many of the insurance providers and marketing partners on our site. That may impact which products we display and where they appear on our site. But it does not influence our meticulously researched editorial content, what we write about, or any reviews or recommendations we may make. We do not guarantee favorable reviews or any coverage at all in exchange for compensation.

Why you can trust Insurify: Comparing accurate insurance quotes should never put you at risk of spam. We earn an agent commission only if you buy a policy based on our quotes. Our editorial team follows a rigorous set of editorial standards and operates independently from our insurance partners. Learn more.

Homeowners insurance in Boston averages $2,133 per year for a policy with $300,000 in dwelling coverage and a $1,000 deductible, according to Insurify data.

Homes in the Boston area are some of the oldest and most expensive in the nation, which keeps premiums elevated. Boston’s exposure to extreme weather also plays into the higher premium prices. Harsh winters, hurricanes, and flooding all pose major risks to homes in the area because of their location on the northeastern coast.

But it’s still possible to find affordable coverage in the Massachusetts state capital. Here’s what you should know about comparing homeowners insurance quotes and finding a home insurance policy in Boston.

Quick Facts
  • AIG, Commerce Group Inc., and Narragansett Bay Insurance are some of the cheapest home insurance companies in Boston, all with annual premiums of less than $1,000.

  • Boston home insurance for $300,000 in dwelling coverage is 14% more expensive than the state average of $1,863 per year for the same coverage level.

  • A standard policy doesn’t cover flood damage, so you may want to add a flood policy to your coverage if you live in a high-risk area in Boston.

Best home insurance companies in Boston

You have plenty of options for homeowners insurance coverage in Boston. The best home insurance company for you depends on your unique needs, budget, and preferences. Here’s a look at some of the top insurers.

Insurance Company
Average Annual Premium
Best For
AIG$755Cheapest rates
Narragansett Bay Insurance$841Older homes
Vermont Mutual$893Business owners
USAA$1,644Military members

Cheapest rates: AIG

Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
NR
$300,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$63/mo
$500,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$109/mo

Boston residents looking for cheap home insurance may find the best prices with AIG. The company has the lowest average annual premiums in Boston. For $300,000 in coverage with a $1,000 deductible, the average cost is just $755 per year.

The company only offers insurance products for high-value homes, but properties in Boston may fit that criteria. The average home price in the city is about $758,000, according to Zillow.

Pros
  • Lowest premiums in Boston

  • Add-on protections against water damage and more

Cons
  • Can’t buy policies on the company’s website

  • Only for high-value homes

Best insurer for older homes: Narragansett Bay Insurance

The housing stock in Massachusetts has a median age of 57 years, and some homes even date back to the 1600s.[1] If your home is on the older side, Narragansett Bay Insurance’s home systems endorsement could come in handy. This coverage pays for repairs or replacement when major home systems and appliances break down. A standard homeowners insurance policy doesn’t include this type of protection.

Through the ShelterPride program, the company also helps ensure you have the proper coverage for all your home’s features and elements. An insurance agent will visit your home and base your coverage on current market prices and replacement costs.

Pros
  • Additional coverage options include major home systems

  • Savings possible through ShelterPride program

Cons
  • Policies not available online

  • Not rated by AM Best for financial strength

Best insurer for business owners: Vermont Mutual

Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
NR
$300,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$98/mo
$500,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$146/mo

Massachusetts is one of the top states for entrepreneurs, with 700,646 small businesses and the ninth-largest small-business payroll in the nation.[2] People who run businesses from home (maybe to beat the Boston traffic) could benefit from Vermont Mutual’s home business endorsement. The add-on insures your in-home business without requiring an additional commercial policy.

Pros
  • Lower-than-average number of complaints with the National Association of Insurance Commissioners (NAIC)

  • AM Best financial strength rating of A+ (Superior)

Cons
  • Not rated by J.D. Power, making it difficult to determine customer satisfaction

  • No mobile app

Best insurer for military members: USAA

Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
9.4/10
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
880
$300,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$133/mo
$500,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$185/mo

USAA is a great option if you’re one of the service members or 15,500 veterans living in Suffolk County. The insurer earned an 881 out of 1,000, the highest score in J.D. Power’s 2023 U.S. Home Insurance Study. USAA also offers a wide range of discounts, and you can file a claim using its online portal.

Pros
  • Many discounts available

  • High customer satisfaction ratings

Cons
  • Must fit eligibility criteria

  • Higher premiums than some other insurers

Find Cheap Home Insurance in Boston

Compare quotes from the top 100+ insurance companies

Secure. Free. Easy-to-use.
Based on 3,806+ reviews
4.8/5
Shopper Approved
ProgressiveLiberty MutualAllstate

Cheapest home insurance in Boston

AIG offers the cheapest homeowners insurance coverage in Boston, with an average annual premium of $755. In the table below, you can see how AIG stacks up to other affordable insurers in Boston.

Insurance Company
Average Annual Premium
AIG$755
Commerce Group Inc.$841
Narragansett Bay Insurance$893
Safety Group$1,245
Vermont Mutual$1,424
Andover Companies$1,476
Arbella Insurance Group$1,486
State Farm$1,506
USAA$1,644
Quincy Mutual$1,712

Cost of homeowners insurance in Boston

The average cost of home insurance in Boston is $2,133 per year for $300,000 in dwelling coverage with a $1,000 deductible. That’s 10% lower than the national average of $2,377 for the same coverage.

Several factors affect the price of your policy, including the location of the house, its safety features, and personal information such as your claims history.

Cost of homeowners insurance by dwelling coverage amount

Your dwelling insurance covers the physical structure of your home along with permanently attached structures, such as your garage, porch, or deck. If certain covered perils damage your home, dwelling coverage can help with the costs of repairing or rebuilding the home.

The table below shows the average annual premiums for homeowners insurance in Massachusetts based on different coverage limits for policies with a $1,000 deductible.

Coverage Limit
Average Annual Premium
$100,000$933
$200,000$1,405
$300,000$1,863
$400,000$2,342
$500,000$2,839

Cost of homeowners insurance by deductible

A homeowners insurance deductible is the amount of money you pay out of pocket when filing a claim. Deductibles usually range from $500 to $2,000 for homeowners insurance, though you may find higher amounts with some companies. When the insurance company approves a claim, it subtracts your deductible from the payout. Generally, the higher your deductible, the lower your premium, and vice versa.

In the table below, you can see how different deductible amounts can affect your home insurance premiums in Boston for policies with $300,000 in dwelling coverage.

Deductible Amount
Average Annual Premium
$500$2,207
$1,000$2,133

How to get cheap homeowners insurance in Boston

It’s possible to save on your home insurance premium while still protecting your property. Consider trying these strategies:[3]

  • Raise your deductible. Homeowners insurance policies with higher deductibles come with lower premiums because they pose less risk for the insurer. Just remember to keep your emergency fund well-stocked since you’ll have to pay more when filing a claim.

  • Look for discounts. Insurance companies may offer discounts to lower your premium without reducing coverage. For example, you may save money by bundling your home and car insurance or by paying in full.

  • Make your home safer. Making your home more resistant to damage and theft can help lower your premium. Consider installing an alarm system, adding hurricane windows, installing a stronger door, or making other updates. Then, share the information with your insurance company.

  • Shop for low prices. Insurance companies have different ways of assessing risk, so premiums can vary widely from one insurer to the next. Get quotes from multiple insurance companies before settling on a Boston homeowners policy.

Massachusetts homeowners insurance rates by city

Home insurance quotes can vary widely in different cities and even within each ZIP code. That’s because every area has a different set of homes and a unique history of losses. Boston, in particular, has older homes located near the coast, where severe storms, floods, and winter storms routinely hit. So you’ll want to make sure you properly insure your home against these threats.

In the table below, you’ll find the average annual premium for homeowners insurance for different cities in Massachusetts.

City
Average Annual Premium
Cambridge$1,682
Lowell$1,739
Lynn$2,067
New Bedford$2,314
Pittsfield$1,448
Quincy$1,840
Salem$1,830
Springfield$1,807
Worcester$1,771

How much homeowners insurance do you need in Boston?

Homeowners insurance can protect you financially after a covered loss. And if you take out a home loan, your mortgage lender will require it. Understanding what a standard policy covers can help you figure out what coverage you need.

Home insurance includes dwelling coverage, which pays to repair or replace the physical structure of your home. Personal property coverage, also known as contents coverage, repairs or replaces your personal belongings. Home insurance policies also include personal liability coverage, which pays for legal and medical costs if an injury happens on your property. And loss of use coverage can help pay for a hotel and other expenses if you have to move out of your home temporarily during repairs.

Shop for Boston Home Insurance

See personalized quotes from Insurify partners in minutes

Secure. Free. Easy-to-use.
Based on 3,806+ reviews
4.8/5
Shopper Approved
ProgressiveLiberty MutualAllstate

What are some of the biggest risks when owning a home in Boston?

Massachusetts residents routinely deal with extreme weather events, including severe storms, floods, and heavy snowfall. If you live in the Bay State, you’ll want to make sure you have enough protection for your property.

Here’s a rundown of some of the biggest risks when owning a home in Boston:[4]

  • illustration card https://a.storyblok.com/f/162273/150x150/0194b78427/weather-96x96-orange_043-flood.svg

    Floods

    Since 1980, Massachusetts has seen four flood events that each caused at least $1 billion in damage. To protect your home against this threat, you may want a flood insurance policy, which covers storm-related flood damage. You can get a flood insurance policy through FEMA’s National Flood Insurance Program or some private insurers.

  • illustration card https://a.storyblok.com/f/162273/x/68ed522f01/windstorm-and-hail.svg

    Severe storms

    In the past four decades, 13 severe storms and nine tropical cyclones in Massachusetts have each caused at least $1 billion in damage. A standard home insurance policy usually covers hail or wind damage. But you’ll need a separate policy to cover floods.

  • illustration card https://a.storyblok.com/f/162273/150x150/a72798aa06/weather-96x96-green_016-snow.svg

    Winter storms

    Boston gets 32.9 inches of snowfall each year, on average. And while some winters are uneventful, the state has seen 15 billion-dollar winter storms since 1980. A standard HO-3 policy covers damage caused by snowfall, freezing rain, or severe cold. But you may also want a flood insurance policy to cover any flooding caused by ice or snow melt.

Boston homeowners insurance FAQs

If you’re shopping for a home insurance policy in Boston, this additional information may help as you research your coverage options.

  • How much is home insurance in Boston?

    Home insurance in Boston costs an average of $2,133 per year for a policy with $300,000 in dwelling coverage and a $1,000 deductible, Insurify data shows. But your rates will vary depending on many factors, including your ZIP code, the age of your home, the square footage of your home, and the coverage levels you choose.

  • Which company has the cheapest homeowners insurance in Boston?

    AIG has the cheapest homeowners insurance in Boston, with an average annual premium of $755. Other affordable insurers include Commerce Group Inc. and Narragansett Bay Insurance, with respective annual premiums of $841 and $893.

  • Does Massachusetts require homeowners insurance?

    No. Massachusetts doesn’t require homeowners insurance, but your lender will require it if you have a mortgage on your home. Home insurance protects you financially if something damages or destroys your home and you have to make costly repairs or rebuild.

Sources

  1. National Association of Home Builders. "Eye on Housing."
  2. Insurance Information Institute. "Businesses by state."
  3. Insurance Information Institute. "How to save money on your homeowners insurance."
  4. National Oceanic and Atmospheric Administration. "Massachusetts Summary."
Kim Porter
Kim Porter

Kim Porter is a writer and editor who's been creating personal finance content since 2010. Before transitioning to full-time freelance writing in 2018, Kim was the chief copy editor at Bankrate, a managing editor at Macmillan, and co-author of the personal finance book "Future Millionaires' Guidebook." Her work has appeared in AARP's print magazine and on sites such as U.S. News & World Report, Fortune, NextAdvisor, Credit Karma, and more. Kim loves to bake and exercise in her free time, and she plans to run a half marathon on each continent.

Ashley Cox
Edited byAshley CoxSenior Managing Editor
Headshot of Managing Editor Ashley Cox
Ashley CoxSenior Managing Editor
  • 7+ years in content creation and management

  • 5+ years in insurance and personal finance content

Ashley is a seasoned personal finance editor who’s produced a variety of digital content, including insurance, credit cards, mortgages, and consumer lending products.

Featured in

media logomedia logomedia logomedia logo

Compare Home Insurance Quotes Instantly

Secure. Free. Easy-to-use.
Based on 3,806+ reviews
4.8/5
Shopper Approved
ProgressiveLiberty MutualAllstate

Latest Articles

View all