Massachusetts Flood Insurance

Find the Best Flood Insurance Options in Massachusetts

Many people don’t realize that some parts of Massachusetts are considered to be high-risk flood zones. In fact, around $183,000 per year in flood claims are paid out in this state alone. 

Even if you live in a lower-risk flood zone in Massachusetts, every property in the state still has some flood risk. To help mitigate this risk, flood insurance is available to all homes and businesses in communities participating in the National Flood Insurance Program (NFIP). 

The average cost of flood insurance in Massachusetts is $1,294 per year and it is well worth it if you experience costly flood damage. 

An independent insurance agent can help you find Massachusetts flood insurance.

Companies That Offer Flood Insurance in Massachusetts

Flood damage is specifically excluded from the coverage provided by conventional insurance policies like home insurance, renters insurance, and business insurance. According to the Federal Emergency Management Agency (FEMA), however, just one inch of rainwater in your home can cause as much as $25,000 in damage. When flooding is severe and widespread, the resulting property damage can be overwhelming. 

That is why the federal government stepped in in 1968 and created the National Flood Insurance Program (NFIP). This program provides affordable coverage to people at risk of sustaining flood damage. 

Flood insurance is guaranteed. You cannot be turned down due to being in a high-risk location, nor will your rates go up if you have filed a claim. 

You can buy flood insurance in Massachusetts in one of two ways: 

• NFIP: Congress created the National Flood Insurance Program (NFIP) in 1968 to help provide a way for property owners to protect themselves from flood damage financially. Flood insurance from the NFIP is available to homeowners, renters, condo owners, and business owners in communities that participate in the program. The NFIP is a government-backed program, which means its rates are the same regardless of where you buy coverage. The NFIP partners with over 50 insurance companies and thousands of independent insurance agents nationwide to offer flood insurance. 
• Private flood insurance: You can purchase private flood insurance in Massachusetts as an alternative to the NFIP. Flood insurance from private insurance companies may be cheaper and faster to get than policies from the NFIP, which come with a 30-day waiting period for coverage to begin. Private flood insurance may also provide higher coverage limits. Conversely, a private insurance company can cancel your policy if your home is deemed too risky, whereas an NFIP policy cannot be canceled for that reason. 

Here are some top insurance companies in Massachusetts that offer private flood insurance:

• Progressive
• REInsure Pro
• MAPFRE Insurance

Save on Flood Insurance

Our independent agents shop around to find you the best coverage.

Request a quote

What Does Flood Insurance Cover in Massachusetts?

Flood insurance from the NFIP consists of two types of coverage that reimburse you for physical damage to your property: building/structural coverage and contents coverage.

If you are a renter, you’ll only need to purchase contents coverage since your landlord will be responsible for fixing damage to the structure of the home. If you are a landlord, you will need much less contents coverage since your tenant will be responsible for covering their own belongings.  

For homeowners, policies can be purchased with limits up to $250,000 for the building and $100,000 for the building contents. These are typically purchased separately with separate deductibles.

Business owners can purchase up to $500,000 in building coverage and $500,000 in contents coverage. These are typically purchased separately with separate deductibles.

• Building/structural coverage protects:
  • The insured building and its foundation
  • Electrical and plumbing systems
  • Furnaces and water heaters
  • Refrigerators, cooking stoves, and built-in appliances like dishwashers
  • Permanently installed carpeting
  • Permanently installed cabinets, paneling, and bookcases
  • Window blinds
  • Foundation walls, anchorage systems, and staircases.
  • Detached garages
  • Fuel tanks, well water tanks and pumps, and solar energy equipment
• Contents coverage protects:
  • Clothing, furniture, and electronic equipment
  • Curtains
  • Portable and window air conditioners
  • Portable microwave ovens and portable dishwashers
  • Carpets that are not included in building coverage
  • Clothes washers and dryer
  • Food freezers and the food in them
  • Certain valuable items, such as original artwork and furs, up to $2,500

You will want to buy enough coverage in each category to suitably cover your property. A local independent insurance agent can help you find flood insurance in Massachusetts.

What Does Flood Insurance Not Cover in Massachusetts? 

As with any insurance policy, flood insurance has some limitations. This means that not all flood-related damage is covered. Some things your policy will most likely exclude from coverage include: 

• Damage caused by moisture, mildew, or mold that could have been avoided by the property owner
• Currency, precious metals, and valuable papers such as stock certificates
• Property and belongings outside of an insured building, such as trees, plants, wells, septic systems, walks, decks, patios, fences, seawalls, hot tubs, and swimming pools
• Living expenses such as temporary housing
• Financial losses caused by business interruption or loss of use of the insured property
• Cars and other vehicles and their parts
• Personal property kept in a finished basement

In addition to these exclusions, coverage for basements and areas below the lowest elevated floor is limited. These exclusions may apply to basements, crawl spaces, walkout basements, and enclosed areas under certain types of elevated buildings. 

It’s important to understand the limitations of your Massachusetts flood insurance policy before disaster strikes so you don’t have to deal with any unpleasant surprises. An independent insurance agent can help explain your coverage to you. 

Is Flood Insurance Required in Massachusetts? 

If you have a mortgage on your property and it is located in a FEMA-designated flood zone, your lender will likely require you to cover it with flood insurance until your loan is paid in full. Otherwise, flood insurance is optional. 

Whether or not you are required to carry flood insurance, it is usually a good idea, even if your home or business is in a low-risk area. In fact, according to FEMA, from 2014 to 2018, policyholders outside of high-risk flood areas filed over 40% of all NFIP flood insurance claims and required one-third of federal disaster assistance for flooding.

Massachusetts has an increasing risk for flooding. Here's some important things to know:

• 8.9% of all properties in Massachusetts are at substantial risk of flooding right now
• 215,000 Massachusetts properties are at risk of flooding in the next 30 years
• 47,000 properties in Massachusetts will face an almost certain risk of flooding, with a 99% chance of being impacted by a flood
• Over 649,000 properties in Massachusetts are covered by flood insurance 

Heavy rainfall is often a cause of flooding in Massachusetts, especially in spring, as snowmelt and already saturated ground contribute to river flooding and overflow events. The state is also no stranger to heavy storms lashing the coastline. Massachusetts has more than the national average annual rainfall. 

• U.S. average annual rainfall: 30.21 inches
• MA average annual rainfall: 47.7

An independent insurance agent can help you understand your risks and need for flood insurance in Massachusetts. 

Average Cost of Flood Insurance in Massachusetts

The NFIP traditionally used a standard calculation for flood insurance across the United States. Premiums for flood insurance were based on:

• Flood risk for your property (your flood zone)
• The type of coverage you purchased (just building coverage or building and contents coverage)
• The deductible and amount of coverage you need
• The location, design, and age of your home
• The location of your home’s contents 
• Whether or not your house has a basement

Risk Rating 2.0: Equity in Action, FEMA’s new flood rating system, uses a variety of flood risk data to set premiums based on each property’s individual risk rather than the risk for an entire community or neighborhood. The previous methodology set rates based on geographic zones and elevation. Risk Rating 2.0 uses the following factors to set flood insurance rates:

• Likelihood of your home flooding from various sources (flash flooding, floods caused by waves or high-water levels, coastal erosion, and more)
• Characteristics of your home (foundation type, first-floor elevation, etc.)
• Your home’s elevation and distance from flooding sources (coasts, rivers, lakes)
• Replacement cost value of your home’s structure (cost to rebuild after a disaster)
• Elements of your home designed to help it withstand floods, such as flood vents
• Nearby or relevant levee performance

On average, homeowners in Massachusetts pay about $1,294 per year for flood insurance. Depending on the flood risk for your home, you’ll pay more or less than average for your flood insurance in Massachusetts. 

Average Massachusetts Flood Insurance Costs by City

Massachusetts flood insurance costs rely highly on the real flood risk for a specific city, neighborhood, or individual home. It’s pretty simple: the higher the flood risk in an area, the higher the flood insurance cost. 

There is a wide range of average flood insurance costs across Massachusetts and from city to city. The city of Spencer, MA, has the highest average flood insurance cost ($3,375 per year), while West Boylston, MA, has the lowest average flood insurance cost ($294 per year). 

Here’s a list of the average annual flood insurance costs for some cities in Massachusetts.

How to Reduce Massachusetts Flood Insurance Costs

There’s not much you can do about the flood risk where you live in Massachusetts, and you certainly aren’t going to prevent snowmelt or heavy rain. But there are a few things you can do to find the best flood insurance rates. 

• Compare quotes from the NFIP and private flood insurance companies. You may find private flood insurance is cheaper.
• Choose a higher deductible. Higher deductibles lower the cost of your flood insurance policy. 
• Upgrade or retrofit your home to better protect it from flooding. Make sure your living spaces are elevated, and be sure to check the base elevation rate for your area to determine how high your space should be. Having an appropriately elevated living space can help lower flood insurance premiums. 
• Elevate utilities such as the air conditioner, water heater, and furnace. Ensure your foundation has flood water openings so water can be drained out immediately in the event of a flood. This not only better protects your home from flood damage, but it might also help you save money on your flood insurance premiums.
• Get an elevation certificate. This document outlines your property's flood risk, including your flood zone and the height of your lowest floor. Elevation certificates will no longer be required under FEMA’s new risk rating methodology, Risk Rating 2.0, but property owners can still submit one to determine if it will lower their insurance costs. 

An independent insurance agent in your area can help you learn more about flood insurance savings, whether you’re purchasing NFIP flood insurance or private flood insurance. 

Save on Flood Insurance

Our independent agents shop around to find you the best coverage.

Request a quote

Massachusetts Flood Insurance FAQs