Dracut, Massachusetts, is home to more than 31,000 people. This town offers its residents a small-town feel while all the amenities of Boston are just a short drive away. If you own a house in this residential community, a solid homeowners insurance policy can protect the investment you have made in it.
If you are looking for the best and most affordable coverage for your Dracut home, a local independent agent can help. Contact an insurance agent near you to get more information and to start comparing a selection of customized homeowners insurance quotes.
How Much Does Homeowners Insurance Cost in Dracut, MA?
Home insurance rates in the state of Massachusetts are higher than the national average.
- National average yearly premium: $1,211
- Massachusetts average yearly premium: $1,488
Your actual home insurance quotes are likely to differ from the average rate listed above. This is because costs are calculated on a case-by-case basis according to several factors such as the following.
- Your home’s value, age, and size in square feet
- The type of home you are insuring (e.g., single family detached, manufactured home, condo, townhouse, rental property, etc.)
- The crime rate and weather risks where your house is located
- Your claims history and credit score
- The size of your deductible
- Whether you are bundling your homeowners coverage with other policies like car insurance or boat insurance
Budget-conscious homeowners can save a lot of money every year simply by taking the time to compare quotes from a few competing insurance companies before choosing a policy.
What Risks Are Covered by Dracut Homeowners Insurance?
Your home insurance policy is designed to cover against most of the damaging risks you are likely to face as a property owner in Dracut. These include the following.
- Accidental fires
- Property crimes
- Severe weather events including:
- Damaging winter weather including:
- Heavy snows
- Ice accumulation
- Prolonged freezing temperatures
You will want to be certain that your coverage limits are high enough in both your dwelling insurance (this covers the structure of your home) and your contents insurance (this covers your personal property). It is generally a good idea to review and update your coverage limits every few years.
What about Coverage for Flood Damage in Dracut, MA?
Homeowners insurance policies cover against a lot of hazards, but they do not cover flood damage. Fortunately, you can supplement your home coverage with an affordable flood insurance policy through the National Flood Insurance Program (NFIP).
Some property owners in Dracut, particularly those near the Merrimack River, own houses in FEMA-designated flood zones. These homeowners are required by their lenders to have flood insurance until their mortgages or home equity loans are paid in full. Otherwise, this coverage is optional.
Keep in mind that more than 20 percent of all flood claims filed each year are for properties that are located outside of designated flood zones. And, according to FEMA, as little as one inch of water in your home can cause up to $25,000 in property damage.
If your home is in any way at risk for flood damage, you may want to consider purchasing flood insurance.
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What Is Loss of Use Coverage?
If you experience a catastrophic event like a fire or an uprooted tree falling on your house, the resultant damage could render your home uninhabitable until repairs are made.
Fortunately, loss of use insurance, which is a standard part of every homeowners insurance policy, can cover the costs associated with obtaining alternate accommodations, like a hotel or a temporary rental home, until your house is brought back up to code.
Why Is Liability Insurance Important for Dracut Homeowners?
Homeowners insurance also provides you with a significant amount of personal liability protection. This can be very helpful if you or someone in your household accidentally cause injuries, property damage, or financial losses to others.
Homeowners liability insurance can cover court costs, legal fees, settlements, judgements, and other associated costs if you are sued for a covered event. Here are examples of times your insurance can prove beneficial.:
- A visitor to your home is seriously injured in an accident that can be blamed on negligence of upkeep on your part.
- Your child hits a baseball through your neighbor’s picture window while playing outside.
- You accidentally hit someone with a golf ball while hitting the links at the Four Oaks Country Club.
- Your dog gets loose and bites someone.
- You are accused of libel or slander.
If you have a lot to lose and want to have even more liability coverage than your home insurance can provide, you may want to consider buying an umbrella insurance policy. Umbrella insurance is an affordable way to boost all your liability coverage.
Does Dracut Homeowners Insurance Cover against Burglaries?
The burglary rate in Massachusetts is lower than the national rate, and in Dracut, the rate is currently even lower. Residents of this town reported 24 burglaries in 2019.
- Number of burglaries per 1,000 homes in the US: 3.76
- Number of burglaries per 1,000 homes in Massachusetts: 2.01
- Number of burglaries per 1,000 homes in Dracut: 0.76
Burglaries in Dracut have been declining every year since 2015, which saw 81 reported burglaries. This is great news for area residents and can have a positive influence on your insurance rates.
If your house is broken into, you may gain a bit of comfort in knowing that you can be reimbursed for your property losses by your homeowners insurance policy. You will need a copy of the police report when you file your claim.
Why Work with a Local Independent Insurance Agent?
Independent agents are free to work with several different insurance companies. This means they can present you with customized quotes from a variety of competing providers. Comparing quotes lets you be certain that you are getting the coverage you need at a reasonable price.
Discover how easy it can be to find the best and most affordable homeowners insurance policy by arranging an obligation-free consultation with an insurance agent near you.
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