Homeowners Insurance in Fall River, Massachusetts (2025)

Key Takeaways:

The average cost of homeowners insurance in Fall River is $1,759, which is about 13% higher than the state’s average rate of $1,554 yearly. However, many variables, such as location, property value, and coverage amounts, affect premiums, so you likely won’t know how much you’ll pay until you get quotes.

Fall River premiums could be higher than average due in part to the city’s coastal location since it’s sandwiched between Mt. Hope Bay and South Watuppa Pond, increasing the chances of wind and water damage compared to inland cities. Coastal properties usually have higher insurance rates than inland cities.

Recent disasters nationwide affect policyholders even beyond the affected states. When companies experience losses, they may raise premiums for many policyholders to recoup their losses, which has affected insurance rates recently.

Additionally, home insurance rates nationwide have been affected by inflation starting around the pandemic and continuing due to inflated energy and building material costs. When houses cost more to build, they cost more to insure since carriers have to factor in the home’s replacement cost.

Replacement cost is the cost of rebuilding your house from the ground up based on construction and labor expenses. Homes with higher replacement costs need higher coverage limits, which raises rates. The table below depicts homeowners insurance costs in Fall River at three different dwelling coverage amounts.

Several more factors affect rates, though, so you may not find numbers that match these exactly when getting quotes. The best way to save money on home insurance is to compare multiple quotes to find the most affordable rates before selecting a policy.

Insurance companies analyze several factors about properties and policyholders to determine premiums. They must understand the full likelihood of a property experiencing a claim, and any variable that increases this likelihood raises rates. 

Some of the most important factors affecting home insurance rates in Fall River include:

Home Age: Older houses often have higher insurance costs than newer houses. Older homes tend to be more prone to property damage, either from severe weather or wear and tear. The dated components in older dwellings, such as pipes, wiring, or siding, can more easily fail or just be out of code. Some companies will require inspections on older homes before granting coverage.

Home Features: Companies assess several aspects of your home’s construction as they affect damage likelihood. Houses with new roofs or wind mitigation have lower premiums. Conversely, having attractive nuisances on your property, such as trampolines and playground equipment, can raise rates.

Location: we mentioned that coastal properties often have higher rates than inland ones, but this applies to a house in any location more prone to damage, such as a high-crime neighborhood. Also, houses near fire hydrants have lower premiums.

Policy Details: Policy decisions you make impact your premiums. Raising some coverage amounts or opting for endorsements, which are additional coverage add-ons, will raise rates. On the other hand, qualifying for discounts or increasing your deductible will reduce premiums.

Home insurance in Fall River covers more than just your house. A policy financially protects your property and liability in several ways, with plans normally having six general coverage areas.

Dwelling Coverage: Dwelling coverage guards your home’s physical structure, including the roof, walls, flooring, patios, pipes, and more.

Other Structures Coverage: Other structures coverage protects the permanent features on your property that aren’t attached to the main house, like sheds, fences, carports, and detached garages.

Personal Property Coverage: Personal property coverage will reimburse you if your belongings, including furniture, clothing, jewelry, electronics, and tools, are damaged by a covered peril or stolen.

Loss of Use Coverage: Loss of use coverage helps pay for living expenses you incur if you must temporarily move out of your house after it’s rendered uninhabitable by a covered peril, like a fire. Your insurer can reimburse you for lodging, meals, and more while you’re displaced.

Liability Coverage: Liability coverage covers medical bills and legal fees if someone pursues you in court for damages or injuries that occur on or around your property.

Medical Payments Coverage: Medical payments coverage helps cover minor medical expenses if someone suffers an injury, regardless of fault.

To get the best homeowners insurance in Fall River, you should understand your coverage needs and budget so you can tailor your policy to your property. For instance, you may need to adjust coverage limits or add endorsements. You should also always compare multiple quotes before binding a policy to ensure you’re getting the best rates.

 You can adjust the amounts of most coverage sections in your policy. While your insurer may have suggestions, they don’t know your property as well as you. Fine-tune your policy by understanding the coverage sections and how much you need.

For instance, you can set your dwelling limit between 80% and 100% of your home’s replacement cost. Raising your dwelling limit will cost extra but you may want it if you have the budget. Some companies even offer guaranteed or extended replacement cost coverage that insures your home for more than it’s worth.

You can also adjust your personal property limit easily. We recommend creating a home inventory that values your belongings to determien the exact amount of personal property coverage you need. You should also ensure your liability limits sufficiently guard your assets.

Having enough coverage is always a priority. Ideally, you shouldn’t skimp on coverage to save money. Instead, you can increase your deductible, qualify for discounts, and compare multiple quotes.

Watch Your Deductible: Every plan has a deductible that you choose when quoting. They often start at $500 and can range from $2,000 or more. A deductible is the amount of money you must pay out of pocket when filing a claim. Selecting a higher deductible decreases the insurer’s financial stake in a claim, which lowers your risk level and premiums. Policies in Bristol County also often have separate windstorm deductibles, so raising either deductible can lower your rates.

Ask About Discounts: You should always ask about available discounts and compare possible discounts among providers. For instance, some companies could offer better loyalty, claims-free, or bundling discounts than others.

Shop Around: Related to the previous point, you won’t know which carrier offers the best deal for you until you shop around. Comparing quotes allows you to find the best rates, endorsements, discounts, and even customer service.

While comparing policies, you may notice that no plan covers flooding. Floods, due to their frequency and severity, are excluded from all home insurance plans. You need a separate policy for flood insurance in Fall River.

Floods are the country’s most common natural disaster. They can occur from various events, from thunderstorms and hurricanes to ice jams, snowmelts, and overflowing rivers. In Fall River, areas around Pleasant Street have had persistent flooding problems.

If you want flood insurance in Fall River, you’ll likely get coverage from the National Flood Insurance Program (NFIP), which is funded and subsidized by the federal government and is the nation’s largest flood insurer.

However, as technology improves, a small number of private flood insurance companies are entering the market with greater flexibility and coverage limits. Our team at Clovered can answer questions you may have about flood insurance to help you make the right choice for coverage.

While no law requires homeowners insurance in Fall River, mortgage lenders do. Lenders require home insurance as part of all home loans to protect their investments.

Since lenders are putting down significant amounts of money to help fund your home purchase, they want a way to protect their investment. If your property was destroyed, they’d have no way to get their money back – unless you have home insurance in Fall River.

If a covered peril wrecks your house, the insurance company will reimburse you and your lender for repairs. Lenders typically require home insurance coverage that at least satisfies the mortgage loan amount.

If you need to get homeowners insurance quotes in Fall River, there’s no better place to turn for help than an independent insurance agency. That’s what we are at Clovered, and our team would love to help you protect your property in Fall River.

We try to make it easy through our online quoting engine to compare plans. If you provide some information about yourself and your home, we can try to match you with top home insurers in Massachusetts.

Or, if you’d rather speak with one of our licensed agents for a Fall River home insurance quote, just call us at 833-255-4117 during business hours. Our team is on standby to help. You can also email us with questions at [email protected].