Gloucester Homeowners Insurance

What Your Gloucester, MA Homeowners Insurance Policy Needs

Find the right homeowners insurance policy for you.

Gloucester, MA is a small city of about 28,000 residents, located on Massachusetts’ Cape Ann. Residents of this city enjoy spectacular beaches, numerous restaurants and shopping venues, and an abundant array of live music, entertainment, arts and culture options throughout the year. If you own a home in this beautiful vacation destination, you will want to be sure to protect your investment by backing it with a solid Gloucester home insurance policy.

When you are looking for appropriate, yet affordable, coverage for your home, you can count on one of our many independent insurance agents for help. These agents can gather an assortment of customized Gloucester homeowners insurance quotes from a selection of highly-rated providers so that it is easy for you to compare rates and find the best policy to meet your coverage and budgetary needs. Find an agent near you to learn more.

Cost of Homeowners Insurance in Massachusetts

  • National yearly premium average: $1,034
  • Massachusetts yearly premium average: $1,150
  • 11th most expensive premium in the U.S.

Homeowners in Massachusetts pay higher-than-average rates for their home insurance coverage, mainly because of the higher home values in the state and because of the hurricane risk for those near the coast. Insurance companies take a number of variables into consideration when they are calculating your specific Gloucester home insurance costs. These include but are not limited to such factors as the following:

  • The value and estimated rebuilding cost of the home you are insuring
  • The materials from which your home was constructed
  • The type of property you are insuring: primary residence, vacation home or second home
  • The location (ZIP code) where your house is located
  • The amount of contents coverage you wish to purchase
  • The amount of your deductible
  • Your qualification for any offered policy discounts

Because each insurance company is likely to quote you a different price for your coverage, you can save money when you request and compare a few Gloucester homeowners insurance quotes before you make a selection.

Second Home and Vacation Home Insurance

Is your Gloucester home a second home or a vacation home as many are? As a popular tourist destination, many people are interested in renting short-term lodging in this city. Others may live in Boston but own a second home out on the cape that they can spend time in on the weekend. Regardless of where they are located or how they are used, vacation homes and second homes have insurance considerations that may differ significantly from those associated with a primary residence. Your agent can help you find suitable insurance for all of your properties and may even be able to save you money by bundling all of your coverage under the same carrier.

Number of Thefts in Massachusetts

  • National number of burglaries: 37,814
  • Massachusetts number of burglaries: 30,735

The burglary rate in Massachusetts is lower than the national average; and in the low-crime city of Gloucester, the burglary rate is even lower. In recent years, there were only 33 burglaries reported in this city. That equates to about 1.12 burglaries for every 1,000 homes — about one-fifth the national rate.

Keeping your doors and windows securely locked can go a long way toward preventing a burglary. If you install a burglar alarm system in your home, it may be even more secure and you might even be able to get a discount on your Gloucester home insurance policy. It can be very stressful to discover that your house has been burglarized, but it may give you some peace of mind to know that your Gloucester homeowners insurance policy compensates you for your losses. Your agent can assist you throughout the claims process if you have questions.

Number of Catastrophes in Massachusetts

  • Number of catastrophes in Massachusetts: 140
  • Number of tornadoes in Massachusetts: 2
  • Amount of property damage in Massachusetts (in millions): $0
  • 1 in 15 insured homes has a claim each year

The risk of tornado-related damage in Gloucester is very low, but other catastrophic events, like hurricanes or accidental fires, can be extremely destructive. It is therefore important that your policy includes high enough levels of structure and contents coverage to enable you to rebuild and start over without suffering a large financial setback. It is a good idea to review your policy’s coverage levels every five years or so to ensure that they are still sufficiently high enough to meet your needs. Your agent can advise you if special endorsements are necessary to cover any of your particularly valuable belongings.

What Are the Risks in Gloucester, MA?

One of the biggest threats to property in Gloucester is damage-causing storms. When severe thunderstorms, windstorms, tropical storms, and even hurricanes strike in this coastal city, the damage can be extensive. Roofs are most vulnerable, but your home can also experience damage to its siding, windows and peripheral property. Your Gloucester home insurance includes coverage against most storms, but you may need to purchase a special endorsement in order to be covered against hurricanes. Your agent can help you be certain that your policy includes the right coverage for your Gloucester home.

These storms frequently bring heavy and prolonged rainfall, and this can lead to flash flooding in the area. However, your home insurance does not cover flood damage, which can be extremely expensive to repair. They only way to get coverage against flood damage is by supplementing your Gloucester homeowners insurance with a flood insurance policy through the National Flood Insurance Program (NFIP). Your agent can help you acquire this affordable coverage.

Compare Gloucester Home Insurance Quotes

The only way to be certain that you are purchasing your Gloucester homeowners insurance coverage at a reasonable price is by taking the time to compare costs and policies from some competing insurance companies. Unfortunately, many homeowners do not want to bother with this time-consuming step and end up paying much more than they need to for their coverage. That is why it is a good idea to work with an agent. These agents will take the time to learn your coverage concerns and requirements and will then make rate inquiries from various insurance companies on your behalf. That way, you can easily compare Gloucester home insurance quotes for policies that have been customized to meet your needs. 

Find an agent near you to get started.

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