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Condo insurance isn’t required by law in Massachusetts, but your mortgage company likely requires it. Condo insurance covers everything inside your condo, while the homeowners association’s insurance covers the outside of your building and common areas.

Depending on your HOA’s rules, your condo insurance may cover not only personal property, but also the interior of the structure. Make sure you know how much condo insurance you need before you buy condo insurance.

To find the best condo insurance in Massachusetts, we’ve gathered data on the top companies. Below you’ll find a  list of the best condo insurance companies in Massachusetts with average annual rates.

Key takeaways

  • The residents of Massachusetts pay an average of $596 per year for condo insurance for a coverage level of $60,000 for personal property, $300,000 for liability protection with a $1,000 deductible.
  • Based on the analysis by Insurance.com, State Farm is the top pick for the best condo insurance company in Massachusetts.
  • State Farm offers the cheapest condo insurance in Massachusetts at an average of $328 per year.

Best condo insurance companies in Massachusetts

In Massachusetts, you have a lot of options when it comes to finding the best condo insurance company. To make your task easier, our insurance experts have analyzed premiums, coverage offerings, J.D Power score and customer satisfaction ratings of major insurers in Massachusetts. Below are the best condo insurance companies in Massachusetts based on Insurance.com’s analysis.

CompanyJ.D. Power ScoreAM Best RatingAverage rating (out of 5)
State Farm829A++
4.3
USAA884A++
3.8
Amica Mutual849A+
3.5
Travelers794A++
3.1

Average cost of condo insurance in Massachusetts

The average cost of condo insurance in Massachusetts is $596 a year or $50 a month with $1,000 as deductible, $60,000 in personal property coverage, and liability coverage of $300,000. Your average annual premium will vary depending on your location, the coverage limits you select, and the deductible amount among other factors.

To find the most affordable policy for your situation, compare quotes from multiple providers based on the coverage you need.

Average Annual PremiumAverage Monthly Premium
$596$50

CONDO INSURANCE CALCULATOR

Average condo insurance rates in MASSACHUSETTS

$60,000
$1,000
$100,000
2150 - Chelsea
Personal Property Coverage $60,000, Deductible $1,000 and Liability $100,000.

AVERAGE RATE: $697

HIGHEST RATE: $1,032 LOWEST RATE: $312

Most & least expensive zip codes for condo insurance in Massachusetts

Most Expensive

Zip CodeCityHighest Rate
02222Boston$930
02203Boston$923
02133Boston$890
02137Readville$843

Least Expensive

Zip CodeCityLowest Rate
01451Harvard$475
01523Lancaster$476
01434Devens$476
01719Boxborough$477

Condo insurance rates by company in Massachusetts

Rates for condo insurance by company in Massachusetts vary. It’s important to shop around and compare quotes to find the best price. 

In the table given below, you’ll see condo insurance rates for major companies in Massachusetts. The cheapest company for condo insurance in Massachusetts is State Farm. Andover Insurance, and Vermont Mutual, are the second and third cheapest options.

CompanyAverage Annual Rate
State Farm$328
Andover Insurance$334
Vermont Mutual$467
Arbella Insurance$494
Mapfre Insurance$540
Amica Mutual$640
Travelers$649
Heritage Insurance Holdings$818
USAA$872

Methodology

Insurance.com compared condo insurance rates provided by Quadrant Data Solutions in 2022 for $60,000 of personal property coverage with a $1,000 deductible and $300,000 of liability coverage for all available ZIP codes and with a good credit score. The content was updated in 2023.

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