Homeowners Insurance in Quincy, Massachusetts (2024)

Just seven miles south of Boston, Quincy is Norfolk County’s largest city, with over 100,000 residents.  Whether you’re looking to join these ranks or a long-time property owner in the city, you will need homeowners insurance. Use this guide for help finding the best home insurance in Quincy to protect your property in Greater Boston.

Key Takeaways:

The average cost of homeowners insurance in Quincy is about $1,478 annually, although your exact rate will based on several variables, including home value, coverage limits, and more.

When looking at home insurance in Massachusetts overall, premiums average around $1,554 annually. Rates vary by location, though, because of varying levels of natural disaster susceptibility, crime rates, and other risk factors that alter the chances of property damage. Houses that are more likely to suffer damage have higher rates.

Quincy premiums come in just below the state average at $1,478 yearly. The city is located on the coast, which increases the risk of wind and flood damage due to the increased chances of a direct hurricane hit. 

Another factor influencing rates is home value. Companies use a measurement called your home’s replacement cost as a primary determinant of how much coverage you need. Replacement cost is the potential cost to rebuild your home from scratch. Larger, more expensive homes have higher replacement costs, need more coverage, and pay high premiums.

The following table reflects average home insurance rates in Quincy based on some common coverage amounts.

As you can see, premiums always climb as coverage amount increases. Replacement cost only factors in materials, labor, and construction costs, so it isn’t the same as the selling price of your home. Nevertheless, more costly houses to buy are usually more costly to build, also, because they may be bigger or contain high-end installations and fixtures. 

Insurance rates will also vary by company since every insurer has slightly different underwriting methods and varying business strategies. You should compare multiple quotes when seeking coverage because you won’t know who has the cheapest deal until you shop around.

The most common type of homeowners insurance is the HO3 policy form, and every HO3 policy contains the same coverage areas, regardless of carrier. These are:

Dwelling Coverage: Financially protects your home’s structure and components, including the roof, walls, flooring, balconies, water heater, pipes, and more.

Other Structures Coverage: Guards permanent fixtures and features on your property that are not attached to your house. These include fences, sheds, gazebos, detached garages, and more.

Personal Property Coverage: Protects your belongings within and around your home, including clothes, furniture, electronics, tools, and more. Some valuables, like art and memorabilia, have limited coverage..

Loss of Use Coverage: Helps pay for living expenses if your home is uninhabitable after damage from a covered peril. Your carrier can reimburse you for hotel stays, groceries, gas, and more

Liability Coverage: Covers bills and legal expenses for incidents on or around your property, such as dog bites, injuries, and damage to a neighbor’s property.

Medical Payments Coverage: Helps cover minor medical expenses from injuries that occur on your property without the need for legal liability.

As a coastal town, Quincy residents should be aware of the possibility of flooding. Unfortunately, homeowners insurance plans don’t cover flood damage. Floods are the nation’s most common natural disaster.

The Federal Emergency Management Agency (FEMA) creates and maintains flood risk maps for the country. A few areas in Quincy, Including North Quincy, Adams Shore, and South Quincy, have been designated as flood zones.

If your home is in a high-risk flood zone, your lender may require you to get a flood insurance policy. Even if you aren’t, it’s not a bad idea to consider coverage. Everywhere it can rain, it can flood. Also, FEMA reports that over 20% of its government-subsidized flood carrier claims through the National Flood Insurance Program (NFIP) come from properties outside of high-risk areas.

Most people get flood insurance through the NFIP, but you may be able to get flood insurance in Quincy from a small but growing number of private flood carriers. If you have questions about flood coverage, our team at Clovered can help.

The best homeowners insurance in Quincy will vary by person, since everyone has different properties, coverage needs, and budgets. To get the best coverage for your scenario, you may need to adjust some policy coverages and add-ons. You should also always shop around among several carriers to find the best price.

Every coverage area has a maximum possible payout called a limit. You can choose many of your policy limits when quoting, and you should base your limits based on your needs and financial restrictions.

You can set your dwelling limit as low as 80% of your home’s replacement cost at most carriers, but you may want to increas e it to 100% for a more comfortable rebuild in case of a total loss.

Carriers often estimate your personal property limit to around 50% of your home’s dwelling cost, but you can select a more precise amount if you make a home inventory and determine the exact cost of your belongings. This can help you save money by not overpaying for unnecessary coverage and enhance protection by helping you to avoid opting for too little personal property coverage.

Companies normally suggest at least $300,000 in liability coverage, but you can increase your liability limits for relatively cheap. It’s not uncommon to have $500,000 in liability coverage, and most carriers will let you choose up to $1 million. Ensure you have enough liability protection to guard your assets in case of a legal issue.

You can also consider endorsements to supplement protection beyond the standard coverage for an added cost. And, you should recognize actual cash value and replacement cost within your policy and decide which one better aligns with your needs and budget if you have a choice between the two.

Most companies have ways to get quotes on your own now. But, if you want help during the process, you can enlist the help of an agent. A Quincy insurance agent, with their knowledge and expertise, can help you find the right policy. Generally, there are two types of agents: captive and independent.

Captive agents work with only one carrier and will help you get coverage only from their provider. Independent agents, on the other hand partner with several home insurance carriers and will shop among them for you to find the best policy.

Clovered is an independent agency, and we work with many of the top insurers in Massachusetts to try and bring you the coverage you need at the price you want.

Insurers determine rates on a case-by-case basis since every property is different. They analyze several variables to determine the risk profiles of every home and policyholder. People who represent a greater risk have higher rates. 

Companies consider your home’s age when determining premiums. Older houses tend to have higher rates because older structures are typically more prone to damage. Their older components, such as roofing, piping, and siding, are older and more likely to be weathered or fail, especially during severe weather.

Companies also usually ask about certain features that can raise rates. Attractive nuisances, such as trampolines, pools, and playground equipment, raise your liability risk and often increase premiums. Some insurers will also ask about pets and may increase rates for someone with a historically aggressive dog breed, like a pit bull. On the other hand, some features, like deadbolt locks and home security systems, can reduce rates of property insurance in Quincy.

Carriers also inquire about more personal details about their policyholders. Insurers usually ask if you’ve filed any claims in the recent past when quoting. They believe that someone who has filed several claims is more likely to file another, so they charge higher premiums to offset this risk. People with lower credit scores also tend to have higher insurance costs.

As an independent insurance agency, our job is to make getting home insurance quotes in Quincy as easy as possible for you. We’re available to assist you throughout the entire quoting process.

If you’d like to compare your options and buy insurance online, check out our proprietary quoting tool. It only takes a few minutes to input your information and see your possible providers.

You can also get a Quincy home insurance quote over the phone with one of our licensed agents by calling  833-255-4117 during business hours. If you have any questions, you can email us at  [email protected], too, if you’d like.