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Trying to save some money on a homeowner insurance quote in Massachusetts for your condo, house, or mobile home? That seems to be a pretty hot trend right now. Homeowner insurance coverage in Massachusetts is ranked No. 8 among the states that have the highest average insurance rates in the U.S. The annual premiums are approximately $925.

The high premiums are due to the high property values in the state on account of its rich historical heritage and the fact that buying property in Massachusetts is a lucrative long-term investment for the homeowner.

Thankfully, Massachusetts insurance laws do not require residents to get homeowner insurance. However, even if the home is brand new and not an older residence with historical value, a homeowner insurance policy is the only way to protect this most valuable asset. And the cost of paying monthly or yearly premiums is relatively cheaper in comparison to the complete financial ruin that is sure to occur when disasters strike.

The standard homeowner insurance policy in Massachusetts consists of five types of coverage…

· Real Property Damage:  Provides coverage to the complete structure of the home as well as detached properties such as garages and sheds

· Personal Property Damage:  Covers damages and losses to personal belongings. Personal Property Damage Coverage is usually half the value of the home. So, if the home is insured for $200,000 the Personal Property Damage coverage would be $100,000. For homeowners with valuable personal belongings, such as jewelry or collections of rare stamps and coins, the value of these items should first be determined through a professional appraisal and then placed under a higher level of coverage at extra cost.

· Additional Living Expense:  Provides the necessary living expenses for a homeowner and his/her household to continue enjoying a normal standard of living while the home is being rebuilt or repaired. These expenses would cover apartment rental or motel accommodations, food and clothing.

· Liability:  Covers lawsuits and claims resulting from bodily injury or property damage that is inflicted upon another person and his property by the homeowner and/or any member of his household, including pets

· Medical Payments:  Covers the medical expenses of individuals who are injured on the homeowner’s property

Like the other states in the U.S., the standard policy does not include earthquake or flood coverage. Both of these special riders can be added to the basic insurance plan at extra cost. However, if one wants better flood coverage, the best option is to apply for a separate policy from the National Flood Insurance Program.

Because of the high cost of premiums, many homeowners are considering measures on how to lower their rates. This could be achieved by first getting comparative quotes from insurance providers in the area and then purchasing a policy from the one company that could give the needed policy at the premium that the homeowner could afford. Discounts in premiums could be gained through getting other types of insurance from the same company, such as life and car insurance. Another way is by increasing deductibles, although this measure may backfire on the homeowner if he sets the deductibles too high so that he ends up shouldering the greater financial burden in the claim. One sure fire way of lowering premiums is by installing protective devices and security alarms in the home.

Some homeowners may not be able to get an insurance policy from a private insurance provider for reasons including low credit score or the property is located in a disaster-prone zone. But all is not lost. After three rejections, one could apply for a policy with the Massachusetts’ FAIR Plan. Through the FAIR Plan, one could get homeowner insurance in Massachusetts, guaranteeing protection for the home.

Find  homeowner insurance rates in each of these Massachusetts cities

Abington – Acton – Acushnet – Adams – Agawam – Amesbury – Amherst – Amherst Center – Andover – Arlington – Ashland – Athol – Attleboro – Auburn – Ayer – Barnstable Town – Bedford – Belchertown – Bellingham – Belmont – Beverly – Billerica – Blackstone – Boston – Bourne – Boxford – Braintree – Brewster – Bridgewater – Brockton – Brookline – Burlington – Cambridge – Canton – Carver – Charlton – Chatham – Chelmsford – Chelsea – Chicopee – Clinton – Cochituate – Cohasset – Concord – Dalton – Danvers – Dartmouth – Dedham – Dennis – Dighton – Douglas – Dracut – Dudley – Duxbury – East Bridgewater – East Falmouth – East Longmeadow – Easthampton – Easton – Everett – Fairhaven – Fall River – Falmouth – Fitchburg – Foxborough – Framingham – Franklin – Freetown – Gardner – Georgetown – Gloucester – Grafton – Granby – Great Barrington – Greenfield – Groton – Groveland – Halifax – Hamilton – Hanover – Hanson – Harwich – Haverhill – Hingham – Holbrook – Holden – Holliston – Holyoke – Hopkinton – Hudson – Hull – Ipswich – Kingston – Lakeville – Lancaster – Lawrence – Leicester – Leominster – Lexington – Lincoln – Littleton – Longmeadow – Lowell – Ludlow – Lunenburg – Lynn – Lynnfield – Malden – Mansfield – Mansfield Center – Marblehead – Marlborough – Marshfield – Mashpee – Mattapoisett – Maynard – Medfield – Medford – Medway – Melrose – Merrimac – Methuen – Middleborough – Middleborough Center – Middleton – Milford – Millbury – Millis – Milton – Monson – Montague – Nantucket – Natick – Needham – New Bedford – Newbury – Newburyport – Newton – Norfolk – North Adams – North Amherst – North Andover – North Attleborough – North Attleborough Center – North Reading – Northampton – Northborough – Northbridge – Norton – Norwell – Norwood – Orange – Orleans – Oxford – Palmer – Peabody – Pembroke – Pepperell – Pinehurst – Pittsfield – Plainville – Plymouth – Quincy – Randolph – Raynham – Reading – Rehoboth – Revere – Rockland – Rockport – Rutland – Salem – Salisbury – Sandwich – Saugus – Scituate – Seekonk – Sharon – Shirley – Shrewsbury – Somerset – Somerville – South Hadley – South Yarmouth – Southborough – Southbridge – Southwick – Spencer – Springfield – Sterling – Stoneham – Stoughton – Sturbridge – Sudbury – Sutton – Swampscott – Swansea – Taunton – Templeton – Tewksbury – Topsfield – Townsend – Tyngsborough – Uxbridge – Wakefield – Walpole – Waltham – Ware – Wareham – Watertown – Wayland – Webster – Wellesley – West Boylston – West Bridgewater – West Springfield – West Yarmouth – Westborough – Westfield – Westford – Westminster – Weston – Westport – Westwood – Weymouth – Whitinsville – Whitman – Wilbraham – Williamstown – Wilmington – Winchendon – Winchester – Winthrop – Woburn – Worcester – Wrentham – Yarmouth

Homeowner insurance in Massachusetts provides coverage in the event of damage to your property from theft, fire, floods, and natural disasters as well as protects you from liability for injuries or damage caused to people on your property. The right homeowner insurance plan  can help you make the best choices about this important protection for you and your family. Get free quotes on homeowner insurance in Massachusetts above.

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