Home Insurance in Massachusetts
Massachusetts's median home value is $562,100.
Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. The typical home in Massachusetts was built around 1964. About 46% of homes were built before 1960.
In Massachusetts, the housing stock is 57% single-family homes, 22% apartments in buildings with 5+ units and 1% mobile or manufactured homes. The rest are 2-4 unit or other housing types.
About 66% of owner-occupied homes in Massachusetts have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
About 63% of occupied homes in Massachusetts are owner-occupied. The vacancy rate is 8%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
In Massachusetts, 52% of homes are primarily heated with natural gas. Homes heated with fuel oil can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
In Massachusetts, the statewide average premium for a standard HO-3 homeowners policy is $2,134 per year (NAIC, 2023 data).
Key figures
| Median home value | $562,100 |
|---|---|
| Median year built | 1964 |
| Owner-occupied share | 63% |
| Share of owner-occupied homes with a mortgage | 66% |
| Home insurance premium | $2,134 - statewide average (NAIC, 2023 data) |
Counties
- Barnstable County
- Berkshire County
- Bristol County
- Dukes County
- Essex County
- Franklin County
- Hampden County
- Hampshire County
- Middlesex County
- Nantucket County
- Norfolk County
- Plymouth County
- Suffolk County
- Worcester County