Best Condo Insurance in Massachusetts

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  • Best Condo Insurance in Massachusetts

Housing is at a premium in Massachusetts, and any condo owner should know how important it is to protect their valuable investment. If you’re not properly covered, paying for property damage out of pocket can take a heavy toll on your finances.

Condo insurance in Massachusetts is a must to protect yourself, your property, and your family from unexpected events ranging from theft to Mother Nature.

This comprehensive guide covers all you need to know to find the best condo insurance in Boston and the Bay State overall.

How Much Is Condo Insurance in Massachusetts?

The average Massachusetts condo insurance cost is $432 annually or about $36 per month. Rates range between $30 to $58 monthly, depending on your coverage amounts.

The premium you receive may vary from this range based on your circumstances. The cost of condo insurance in Massachusetts varies based on many factors, such as your location, policy details, personal belongings’ value, and more. 

The company you choose also plays a role, as every provider has slightly different ways of calculating premiums in their underwriting process. The table below illustrates average annual and monthly condo insurance rates in Massachusetts at different coverage levels.

Average Cost of Condo Insurance in Massachusetts


$20,000 to $49,999
$50,000 to $74,999
$75,000 to $99,999
$100,000 and over

Avg. Annual Rate


Avg. Monthly Rate


You’ll notice the average rate for $100,000 in coverage and over is much higher than the others, likely because some condos in more costly cities in the state, like Boston or Cambridge, can cost millions of dollars, and you’re more likely to need higher limits in more expensive or nicer cities in the state.

Residents with expensive units or more belongings will need higher limits reaching $500 or $600 annually. Yet, most unit owners around the state should suffice with between $25,000 and $75,000 in coverage, much closer to the state average condo insurance rate.

A Simpler Way to Get Condo Insurance

Protect everything your condo association doesn’t with a custom condo insurance policy at an affordable price.

What Does Condo Insurance in Massachusetts Cover? 

Condo insurance in Massachusetts (formally called HO-6 insurance) provides a variety of coverages to protect your unit, belongings, liability, and more. Policies protect you from perils, or possible damage sources, like theft, vandalism, fire, water, and wind damage.

The different coverages in a typical policy are as follows:

Personal Property Coverage

Personal property coverage provides protection for your belongings inside your unit, such as furniture, electronics, clothes, art, tools, jewelry, and more, from covered peril damage.

Loss of Use Coverage

Loss of use coverage covers additional living expenses if your condo becomes uninhabitable due to a covered loss and you need to live elsewhere temporarily. Your provider can reimburse you for lodging, groceries, fuel, and more.

Liability Coverage

Liability coverage protects you financially if you’re found responsible for causing injury to someone or damage to their property. Liability coverage can help pay for medical expenses, legal fees, and more.

Medical Payments Coverage

Medical payments covers medical expenses for someone injured within your condo unit, regardless of who is at fault. It is meant for much more minor injuries than liability coverage.

Loss Assessment Coverage

Loss assessment coverage financially protects you against assessments your condo association could charge you for covered losses that exceed the master policy limits.

Building Property (Dwelling) Coverage

Dwelling coverage in condo insurance protects the physical structure of your unit, such as the walls, floors, and fixtures, against covered peril damage.

How to Get the Best Condo Insurance in Massachusetts

The best condo insurance in Massachusetts depends on your coverage needs and budget. You should understand your association’s master policy. You should also compare quotes from a few providers to find the best deal.

Work With Your Condo Master Insurance in Massachusetts

Normally, every condominium development in Massachusetts has what’s called a master insurance policy. This plan covers the building’s exteriors and complex common areas, including

  • Hallways
  • Stairwells
  • Elevators
  • Lobby and clubhouses
  • Pool deck and amenities

Every resident helps pay for this shared insurance plan through homeowners association (HOA) dues. 

The presence of a condo master insurance in Massachusetts helps reduce the cost of personal condo insurance. The combined cost of your coverage and the portion of your HOA dues that goes to your insurance is likely lower than the price of traditional homeowners insurance in the state.

Walls-in vs. Walls-out Coverage

 Your personal condo needs can be influenced by your HOA’s policy. Some master plans will cover features in your unit. These policies, called walls-in plans, cover surfaces and fixtures in your unit, such as cabinets, countertops, and other elements that are part of the unit and present when you move in. 

Some HOA master policies have walls-out coverage, which won’t cover anything in your unit. If you have a master policy with walls-out coverage, you should include dwelling coverage in your personal condo policy and ensure the limits cover the value of your installations.

Some “walls-in” plans will only cover the value of features in your unit as they were when you moved in. So, if you upgraded your unit after you bought it, such as installing new countertops or floors, your master policy may only cover the value of the original fixtures. If this is the case, you should look into dwelling coverage as well to protect your betterments and improvements.

Know Coverage Options

Recognize the need for loss assessment coverage. If your HOA has slim reserves, or you know your condo is prone to a certain type of damage, you may want to get it. Loss assessment coverage usually costs under $100 per year to add, but it can save you thousands if your association ever assesses you after a covered loss.

You may also want to consider endorsements to your policy, depending on your circumstances. Carriers offer additional coverage for fully insuring valuable items or a home-based business, for instance. 

A Simpler Way to Get Condo Insurance

Protect everything your condo association doesn’t with a custom condo insurance policy at an affordable price.

Tips for Getting Cheap Condo Insurance in Massachusetts

Comparing quotes is the best way to save money on coverage. For additional steps to secure cheap condo insurance in Massachusetts, think about raising your deductible and changing your policy limits from the default.

Raise Your Deductible

Your deductible is the dollar amount you must pay before your insurance company steps in to cover damage after a claim. You select the deductible you want when you get a policy. Companies usually offer deductibles between $500 and $2,000.

Choosing a deductible on the higher end of the range will lower your monthly premiums. Opting for a higher deductible means you’re willing to pay for more property damage out of pocket, which your insurance company prefers. As a result, they lower your premiums.

Adjust Your Policy Limits

When quoting, a provider may start you off with some default policy limits based on the size of your condo, but you can adjust your limits to suit your situation. Avoid paying for coverage you don’t need.

Create a home inventory that tracks what you own and how much you paid for all your things. This list will give you the exact amount of personal property coverage you need. Set your limit at the amount from your home inventory – any more coverage than that would technically be unnecessary, and you’d be overpaying.

You can also adjust your liability and medical payments limits in your plan. Insurers typically require you to carry at least $100,000 in liability coverage, but we recommend choosing somewhere between $300,000 to $500,000 in coverage. Raising or lowering your desired limits will change your premiums.

You should also check with your condo master insurance in Massachusetts to determine how much dwelling coverage you need in your personal plan. If your HOA policy is walls-in and covers improvements you make, you may not need much dwelling coverage at all.

Condo Insurance in Massachusetts and Average Cost Factors

As we mentioned previously, several factors influence the cost of HO-6 insurance in Massachusetts. Some of the most critical factors that affect premiums include:

  • Location
  • Property features
  • Policy details

When it comes to your location, insurance companies consider factors such as crime rates in your area, your proximity to a fire station or fire hydrant, and the possibility of natural disasters at your building. Condos at higher risk of damage will likely have higher premiums.

For example, condos by the Atlantic coast in Massachusetts are more vulnerable to wind and flood damage than inland buildings, so coastal developments will probably have higher rates. 

The features and characteristics of your building also impact insurance premiums. The age and construction of your building are important. Older buildings have more wear and tear and m can be more susceptible to certain types of damage, which often results in higher premiums.

Your coverage amounts and deductible will impact your rates, too. Those who want higher limits will pay more for their insurance. Raising or lowering your deductible will increase or decrease your monthly premiums, also.

Is Condo Insurance Required in Massachusetts?

Condo insurance isn’t required by law in Massachusetts. However, mortgage lenders mandate condo insurance as part of their home loans. Condo associations can also require unit owners to get a policy to live in a complex.

Mortgage lenders require condo owners to have personal insurance plans as a part of mortgage agreements. Lenders make all their loanees maintain property insurance to protect their investments. If your condo unit was wrecked by fire, snowstorm, or other covered peril, your lender could recoup the money they put down through the insurance policy. If you bought your condo with a mortgage, you need condominium insurance in Massachusetts.

Some complexes also require insurance before allowing people to move in. Requiring residents to have their own personal plans in addition to the condo association insurance in Massachusetts further limits liability for all residents and the HOA overall.

How to Get Massachusetts Condo Insurance Quotes

Shopping around for insurance coverage is crucial to ensure you obtain the best possible policy at a competitive price. Getting multiple Massachusetts condo insurance quotes allows you to see how rates and coverage options vary among providers.

This is where an independent insurance agent like us here at Clovered can be a valuable resource. As an independent agency, we work with multiple carriers to compare quotes for you and help you find the best deal. Our understanding of the insurance market can help you save time and money when getting condo insurance quotes in Massachusetts.

You can use our online quoting tool to compare options from some of the top providers in your area. Or, you can quote with the help of one of our licensed, in-house agents over the phone by calling 833-255-4117 during business hours. You can also email us at [email protected] with any questions.

Getting Condominium Insurance in Boston

Boston is the capital and largest city of Massachusetts. Condo living is a great option for Boston residents who want to enjoy the economic and cultural aspects of the city at a lower price than homeownership. If you’re looking for a condo in the city, you need condominium insurance in Boston.

Nicer neighborhoods where prices are higher, such as Back Bay, Beacon Hill, the Leather District, and the South End, will likely have higher insurance rates because condo owners there will have more expensive features and belongings to cover with their policies, necessitating higher limits and premiums.

Condos near the water in Boston that are more prone to nor’easter and flood damage may also have higher premiums. You may also experience higher rates if you live in a crime-prone neighborhood, as the chances of experiencing theft or vandalism are higher. 

As long as you shop around for coverage, you should be able to find the best home insurance for a condo in Boston at a price you can afford.

A Simpler Way to Get Condo Insurance

Protect everything your condo association doesn't with a custom condo insurance policy at an affordable price.

The editorial content on Clovered’s website is meant to be informational material and should not be considered legal advice.

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