Flood Insurance Costs & Coverage in Massachusetts
The average cost of flood insurance in Massachusetts is $1,026 per year for a policy from the National Flood Insurance Program (NFIP).
Your mortgage lender may require you to have flood insurance if your house is located in a place the Federal Emergency Management Agency (FEMA) designates as a special flood hazard area.
Massachusetts homeowners should consider buying flood insurance, even if it's not required. That's because standard home insurance doesn't protect against flood damage.
Find Cheap Homeowners Insurance Quotes in Massachusetts
Average cost of flood insurance in Massachusetts
Flood insurance in Massachusetts costs an average of $1,026 per year for around $290,000 of coverage from the National Flood Insurance Program (NFIP).
NFIP rates are based on the likelihood that your home will flood according to FEMA. This means that your flood insurance rates could vary depending on where you live and how your home was built.
Massachusetts flood insurance rates range from $300 per year to over $3,000 per year depending on the city you're in.
Flood insurance rates in Massachusetts by city
City | Avg. annual cost |
|---|---|
| Abington | $559 |
| Acton | $741 |
| Acushnet | $705 |
| Adams | $910 |
| Agawam | $1,242 |
Homeowners in Massachusetts pay 40% more for NFIP flood insurance than the national average, which is $731 per year.
That's largely because Massachusetts is a coastal state with lots of lakes and rivers. Over 400,000 people in Massachusetts live in a 100-year flood zone. That means there's a 1 in 4 chance that their home will flood over the course of a 30-year mortgage.
Do I need flood insurance in Massachusetts?
Massachusetts state law doesn't require flood insurance coverage. But mortgage lenders often require flood insurance if your home is located within an area with a high risk of flooding. These are called special flood hazard areas (SFHAs). SFHAs are typically close to the coast or another body of water, like a lake or river.
Homeowners can be placed into a special flood hazard area when FEMA updates its rate maps. If this happens, you may be required to buy flood insurance, even if you didn't need it before.
If you believe that your property doesn't belong in a special flood hazard area, you and your mortgage lender can file a "letter of determination review" with FEMA. The agency will take up to 45 days to decide whether your home has been zoned correctly.
Even if FEMA revises its zoning at your request, your mortgage lender may still require flood insurance.
How to buy flood insurance in Massachusetts
Homeowners in Massachusetts can buy flood insurance from the National Flood Insurance Program (NFIP) or from a private flood insurance company. Many home insurance companies sell NFIP policies.
Because the NFIP is a government program, rates are the same regardless of where you buy a policy.
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 | 26% |
| The Hartford | 23% |
| Wright National | 18% |
Find Cheap Homeowners Insurance Quotes in Your Area
However, NFIP policies offer a limited amount of protection.
If you have an expensive home or lots of belongings, you may want to consider getting flood insurance from a private company. Private companies tend to offer more coverage and may also have cheaper rates.
Largest private flood insurance companies in MA
Company | Market share |
|---|---|
| AIG | 18% |
| Zurich | 11% |
| Assurant | 10% |
Some major insurance companies, like Liberty Mutual and Allstate, offer private flood insurance. You may need to contact an independent insurance agent to get quotes from lesser-known companies like Zurich or Arch Capital.
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.
What does dwelling coverage protect?
- Your home's roof, walls, doors and windows
- Permanent flooring like carpet or hardwood floors
- Detached garages
- Your HVAC system, furnace, electrical wiring, hot water heater and other systems
- Built-in appliances like a fridge or stove
- Debris removal
The NFIP limits coverage for your belongings to $100,000. This is known as personal property coverage.
What does personal property coverage protect?
- Clothing
- Valuables, like jewelry or artwork, up to a set limit
- Electronics, like TVs and computers
- Furniture
- Window treatments
- Rugs
- Portable appliances, like microwaves
- Frozen food
There are a number of things that an NFIP flood insurance policy won't cover. If protecting these things is important to you, you should compare quotes from private flood insurance companies.
- Cash and stock certificates
- Decks
- Fences
- Landscaping
- Pools and hot tubs
- Precious metals
In addition, the NFIP doesn't offer additional living expenses coverage. This coverage 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 $1,026 per year. That's based on a policy from the National Flood Insurance Program (NFIP) with $290,023 of coverage, on average. However, your rates could be higher or lower depending on where you live and how your house was built.
Is flood insurance required in Massachusetts?
Flood insurance isn't required by the state of Massachusetts. But your mortgage lender may require you to have flood insurance if your home is in an area with a high risk of flooding according to FEMA.
How much does flood insurance cost in Boston?
Flood insurance in Boston costs an average of $715 per year for a policy from the National Flood Insurance Program (NFIP). The average NFIP policy in Boston includes $294,610 of protection for your home's structure and your personal property.
Methodology and sources
To find the average cost of flood insurance in Massachusetts, ValuePenguin studied public data provided by the National Flood Insurance Program (NFIP).
Market share data for the largest flood insurance companies in Massachusetts was provided by S&P Global, a financial data resource for the insurance industry.
Massachusetts flood zone data was provided by the Commonwealth of Massachusetts.