How much is homeowners insurance in Springfield,MA

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The average cost of homeowners insurance in Springfield is $1,680 per year (for the coverage level of $300,000 for dwelling, $100,000 for liability protection and $1000 deductible), based on Insure.com’s rate data analysis. It’s $824 less than the national average of $2,504.

However, homeowners insurance rates can vary drastically from one home to another. Home insurance rates in Springfield depend on a number of factors, including:

Size of your home
Age of your home
Amount of coverage you need
Location
Your credit score

To make sure you are getting the best deal on home insurance, it is important to get quotes from multiple insurers to find the right coverage for your needs. Read this guide to know how much homeowners insurance cost per month in Springfield, home insurance cost for different dwelling coverage, also know which companies offer cheap home insurance in Springfield.

In this guide, we will explain everything from what coverage options are available to which companies have the cheapest rates for homeowners insurance in Springfield.

Key takeaways

Homeowners insurance costs $1,680 per year in Springfield.
At $803 per year, State Farm offers the cheapest homeowners insurance in Springfield.
Your home insurance rates increase by $363 more annually if you increase your dwelling coverage from $200,000 to $300,000.

How much is homeowners insurance in Springfield per month

According to Insure.com’s rate analysis, residents of Springfield pay an average of $140 per month for homeowners insurance. This is $5 more than the state average of $135 and $69 less than the national average for home insurance across the United States. The cost of your homeowners insurance policy in Springfield can vary depending on your location, property value, and selected coverage options.

How much is homeowners insurance for a $200,000 house in Springfield

In Springfield, MA, homeowners pay an average of $1,317 annually for a $200,000 home. The annual cost of home insurance is influenced by factors such as the risk of natural disasters in your area.

Regions more susceptible to natural disasters, such as floods, hurricanes, or tornadoes, typically face higher rebuilding costs, leading to increased insurance premiums. It is important to understand that standard insurance policies might not cover damages caused by floods or hurricanes. If you live in a flood-prone area, it is advisable to purchase flood insurance.

How much is homeowners insurance for a $300,000 house in Springfield

According to a rate analysis by Insure.com, homeowners in Springfield pay an average of $1,680 per year for a $300,000 house. These rates are for the coverage limits of $100,000 for liability protection and $1000 deductible.

If you increase your dwelling coverage from $200,000 to $300,000, you will just have to pay $363 more a year for home insurance. It would be best to buy enough insurance to cover the full cost of rebuilding your home.

However, the amount of dwelling coverage you need may vary depending on the size of your home, the features in your home, and the cost of living in your area.

How much is homeowners insurance in Springfield by company

Among the carriers analyzed, State Farm is the most affordable homeowners insurance company in Springfield. It’s average annual rate for homeowners in Springfield is $803.

Andover Insurance, ranks second and Heritage Insurance Holdings makes it to the third spot with an average annual home insurance rate of $1,434.

Research on the company is essential before selecting a homeowners insurance policy. Insure.com has thoroughly examined all insurance companies operating in Springfield and compiled a list of the most affordable home insurance companies.

Below are details of Springfield home insurance companies and their average annual premiums.

Home insurance company	Annual rate
State Farm	$803
Andover Insurance	$1,007
Heritage Insurance Holdings	$1,434
Arbella Insurance	$1,542
Travelers	$1,650
Safety Insurance	$1,693
Allstate	$1,725
Vermont Mutual	$1,768
Amica Mutual	$2,119
Mapfre Insurance	$2,286
USAA*	$1,765

Methodology

Insure.com, with the help of Quadrant Information Services, gathered data for homeowners insurance rates in Springfield for $300,000 dwelling coverage and $100,000 liability coverage with a $1,000 deductible. The data presented are those with a good credit tier alignment.