Home Insurance in Beverly, Massachusetts
Homes in Beverly carry a median value of $650,300 - 5% higher than the Essex County median.
Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild. The typical home in Beverly was built around 1956. About 56% of homes were built before 1960, about 6 points above Essex County's 50%.
The housing stock in Beverly is 54% single-family homes and 27% apartments in buildings with 5+ units. The rest are 2-4 unit or other housing types.
In Beverly, about 74% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
Beverly has an owner-occupancy rate of 60% and a vacancy rate of 4%; unoccupied homes typically need a different coverage form.
Most homes in Beverly - 50% - 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.
FEMA rates Essex County's overall risk as Relatively High, led by coastal flooding (Very High). Essex County had 8,754 active NFIP flood policies as of September 2026. See the full Essex County home insurance overview for all FEMA hazard ratings and flood coverage details. Flood damage is excluded from a standard homeowners policy.
According to the NAIC homeowners insurance report (2023 data), a standard HO-3 homeowners policy in Massachusetts carries a statewide average premium of $2,134 per year.
Key figures
| Median home value | $650,300 |
|---|---|
| Median year built | 1956 |
| Owner-occupied share | 60% |
| Share of owner-occupied homes with a mortgage | 74% |
| Top county hazard | Coastal Flooding (Very High) |
| Active NFIP policies in Essex County | 8,754 |
| Home insurance premium | $2,134 - statewide average (NAIC, 2023 data) |
Nearby towns
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)