Flood Insurance Costs & Coverage in Massachusetts
The average cost of flood insurance in Massachusetts is $1,078 per year for a policy from the NFIP (National Flood Insurance Program).
Your mortgage lender may require you to have flood insurance if you live in a place that has a high chance of flooding according to FEMA (Federal Emergency Management Agency).
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Average cost of flood insurance in Massachusetts
Flood insurance in Massachusetts costs an average of $1,078 per year, or $90 per month.
That's for a policy through the government that gives you an average of $289,000 in coverage for your home and belongings.
In Massachusetts, flood insurance rates can vary by thousands of dollars per year based on where you live and how likely it is that your home will flood.
Flood insurance rates in Massachusetts by city
City | Avg. annual cost |
|---|---|
| Abington | $737 |
| Acton | $747 |
| Acushnet | $652 |
| Adams | $1,301 |
| Agawam | $1,382 |
NFIP flood insurance policies are backed by the federal government, and you buy them through a private insurance company. You'll pay the same amount for NFIP flood insurance no matter what insurance company you use.
Do I need flood insurance in Massachusetts?
Mortgage lenders often require flood insurance if your home is in an area that could flood.
However, Massachusetts state law doesn't require flood insurance coverage.
- You'll usually need to get flood insurance if you live in a high-risk flood zone. On FEMA's flood maps, that's zones that begin with the letters A, which are 100-year flood plains, or zones that begin with the letter V, which are coastal areas with waves at least 3 feet high. These are called special flood hazard areas (SFHAs).
- You usually won't need to get flood insurance if you live in an area with medium or low risk of flooding. These areas will be on FEMA flood maps with a code beginning with the letters B, C and X.
Should you get flood insurance when it isn't required?
It's a good idea to get a flood insurance policy if you think your home could be damaged by a flood.
Flood damage can be expensive, and one inch of water can cause about $25,000 in damage for an average-size home, according to FEMA. Without insurance, you'd have to pay for repairs yourself.
Your home could still flood, even if FEMA says you're not at risk. About 40% of flood insurance claims are from people who live in areas that FEMA says have low or medium flood risk. One key issue with FEMA maps is that they're based on where flooding has occurred in the past, rather than on predictions about areas that could flood in the future.
So recent changes such as more extreme storms could mean your home has a higher risk of flood damage than what the flood map shows.
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Where is flood insurance expensive in Massachusetts?
- Flood insurance is expensive in places that are at risk of coastal flooding, such as Nantucket, where rates average $1,781 per year for about $340,000 in coverage.
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Flood insurance is also expensive in the river towns of western Massachusetts. Policies cost more than $3,000 per year in Great Barrington and Lee, which have the Housatonic River, as well as the town of Fitchburg, which has the Nashua River.
10 most expensive Massachusetts cities for flood insurance
- Fitchburg: $5,134/year
- Great Barrington: $3,623/year
- Lee: $3,391/year
- Spencer: $3,375/year
- Southbridge: $3,303/year
- Lawrence: $2,903/year
- Raynham: $2,521/year
- Orange: $2,255/year
- Tisbury: $2,219/year
- Barre: $2,119/year
Averages based on what current NFIP policyholders are paying
Where is flood insurance cheap in Massachusetts?
- Flood insurance is cheap in Massachusetts towns with a low risk of flooding such as those on a hill or that don't have water nearby. Towns also have low rates when homes have not been built in floodplains.
- Flood insurance can also be cheap in areas where homes are not expensive or where people aren't buying policies to cover expensive homes. That's because it costs less to get flood insurance for a more affordable home.
10 cities in Massachusetts with the cheapest flood insurance
- West Boylston: $294/year
- Holden: $373/year
- Lincoln: $377/year
- Paxton: $380/year
- Cambridge: $391/year
- Lenox: $399/year
- Melrose: $435/year
- Clinton: $465/year
- Framingham: $475/year
- Hopkinton: $480/year
The average cost of flood insurance is cheap in Cambridge because those who are buying flood insurance through the NFIP are insuring lower-value properties.
In Cambridge, flood insurance costs an average of $391 per month for around $145,749 of coverage from the National Flood Insurance Program (NFIP).
- Many people in Cambridge aren't buying flood insurance because the risk of flooding is lower than in other towns.
- Homes in Cambridge are expensive, averaging nearly $1 million. Because NFIP flood insurance policies only cover up to $250,000 for residential homes, those who need flood insurance may be choosing a private flood insurance policy rather than getting a government-backed policy.
Though in the coming decades, more parts of Cambridge are expected to be at risk of flooding as storm surge starts to affect areas from the Charles River almost to Central Square.
How to get cheap flood insurance in Massachusetts
Homeowners in Massachusetts can buy cheap flood insurance from the National Flood Insurance Program (NFIP) or from a private flood insurance company.
In both cases, you'll get a policy through an insurance company, but your flood insurance coverage will be different based on the type of policy you choose.
Because the NFIP is a government program, the cost of flood insurance for your home will be the same, regardless of which insurance company you use.
If your current home insurance company offers NFIP insurance, you should ask for a flood insurance quote. Having both policies with the same company can make the claims process easier if your home is damaged by a storm.
Largest NFIP flood insurance companies in Massachusetts
Company | Market share | |
|---|---|---|
| Assurant | 24% |
| The Hartford | 22% |
| Wright National Flood Ins Co. | 20% |
| Selective | 14% |
| USAA | 3% |
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The downside of NFIP policies is that policies usually won't cover more than $250,000 in damage to your home's structure or $100,000 in damage to your belongings. Limits are higher for commercial properties.
If you have an expensive home or lots of belongings, you may want to consider getting flood insurance from a private company. Private companies can give you more coverage, but rates will vary by company.
Largest private flood insurance companies in MA
Company | Market share | |
|---|---|---|
| Farmers Insurance | 13% |
| AIG | 12% |
| Geico | 12% |
|
| Assurant | 8% |
| AXA SA | 7% |
Online flood insurance quotes are available from companies including Farmers, Geico, Liberty Mutual and Allstate. You'll usually need to contact an insurance agent to get quotes from companies such as Chubb and AIG.
What does flood insurance in Massachusetts cover?
A flood insurance policy protects the structure of your home and your belongings.
Flood insurance from the National Flood Insurance Program (NFIP) offers a maximum of $250,000 of protection for your home's structure. This is called dwelling coverage. If your home would cost more than $250,000 to rebuild, you should consider getting flood insurance from a private company, or an excess flood insurance policy to give you coverage on top of a government policy.
What does dwelling coverage protect?
- Your home's roof, walls, doors and windows
- Permanent flooring like carpet or hardwood floors
- Detached garages
- Your HVAC, furnace, electrical system and hot water heater
- Built-in appliances like a fridge or stove
- Debris removal
What does personal property coverage protect?
- Furniture
- Clothing
- Electronics, like TVs and computers
- Portable appliances, like microwaves
- Valuables, like jewelry or artwork, up to a set limit
- Window treatments and rugs
- Frozen food
The NFIP limits coverage for your belongings to $100,000. This is known as personal property coverage.
What isn't covered by flood insurance?
- Decks and fences
- Landscaping
- Pools and hot tubs
- Extra living expenses after a flood
- Cash and stock certificates
- Precious metals
An NFIP flood insurance policy won't cover money you have in your home or things outside your home such as a pool or deck. If protecting these things is important to you, you should compare quotes from private flood insurance companies.
The NFIP also doesn't cover additional living expenses. This helps pay for extra expenses, like a hotel room, if you have to temporarily move out of your home after a flood.
Frequently asked questions
How much does flood insurance cost in MA?
The average cost of flood insurance in Massachusetts is $1,078 per year. That's based on a policy from the National Flood Insurance Program (NFIP) with about $290,000 of coverage, on average. However, your rates could be higher or lower depending on where you live and how your house was built.
How much does it cost to get flood and home insurance in Massachusetts?
In Massachusetts, it costs an average of $2,942 per year for both flood insurance and home insurance. The best way to save is to choose a home insurance company with cheap rates in Massachusetts. This could save you about $1,000 per year. Flood insurance through the NFIP will cost the same no matter what company you choose.
Is flood insurance expensive in Massachusetts?
Massachusetts is the 12th most expensive state for flood insurance. On average, you'll pay $1,078 per year for flood insurance in Massachusetts, which is $260 more than the average cost of flood insurance in the U.S. The high rates in Massachusetts are because the state has flood risks from both the ocean and rivers.
Does flood insurance cover your car in Massachusetts?
Flood damage to your car would be covered by your Massachusetts car insurance policy if you have full coverage. Most people have full coverage because it's required if you have a lease or auto loan. Your car's flood damage won't be covered by your home's flood insurance policy..
How much does flood insurance cost in Boston?
Flood insurance in Boston costs an average of $640 per year for a policy from the National Flood Insurance Program (NFIP). That's about 41% less than the average rates in Massachusetts.
Methodology and sources
The average cost of flood insurance in Massachusetts is based on policy information from FEMA (Federal Emergency Management Agency) and the National Flood Insurance Program (NFP).
Market share data for the largest flood insurance companies in Massachusetts is from S&P Global, a financial data resource for the insurance industry. Other sources include Floodsmart.gov, FEMA's flood maps, and the Cambridge FloodViewer.
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