The largest of the villages that make up Barnstable, Hyannis, MA is a small slice of heaven on earth. The salted air off Lewis Bay carries traces of the rich maritime history into everyday life in this picturesque town that exemplifies everything that is the best of Massachusetts. If you own a home here, you know how good life can be. But to own a home is to insure it, and it can be a bit tricky to have the coverage you need within your budget.
It’s important to shop around to get the best deal. Your Independent Insurance Agent will help you navigate the options and find the policy you need to cover your risks so that you can enjoy the good life worry-free. By obtaining multiple quotes from many different companies, your agent will get you the coverage you need at the most affordable price.
Home insurance is a little more expensive than average in the Bay State. On average, homeowners spend $1,034 per year on insurance premiums, but in Massachusetts, the average is $1,150. This ranks the state 11th overall for cost. A mild climate with few natural disasters helps keep the costs down, however. Many considerations go into determining the cost of insuring your home, including the following:
- Home's age and type of construction - Wooden homes are more likely to suffer damage, and older homes are more likely to have electrical fires.
- Home’s location - How likely are disasters? Crime?
- Claims history - More claims will make your coverage more expensive.
- Risk factors on the property - Swimming pools and trampolines figure prominently.
- Credit score - A low credit score is indicative of high risk.
That’s why shopping around for the right insurance for your home and your lifestyle is so critical to finding the right insurance for yourself.
Hyannis Second Home and Vacation Home Insurance
If you’re keeping a vacation home in Hyannis, you have more things to consider than you do for your primary residence. Generally, it costs a bit more to insure a second home because no one is there to watch it all the time. For that reason, many owners of second homes opt to have lower coverage. This is a risky thing to do, which doesn’t always save you money in the long run.
It’s always best to insure a second home the same as a primary residence. There are ways you can do this and keep your costs low. A security system helps keep the cost low and protects you against any loss whether you have your home fully insured or are taking on the liability on your own. If you work with your insurance agency, you can find the options that work with their policies and your home.
Number of Thefts in Massachusetts
While home insurance is typically higher in Massachusetts than in other states, there are a few things that bring the cost down. The most important factor is home break-ins, which are a bit less common than average — as shown in these data from recent years:
- Across the U.S., an average state had 37,814 burglaries.
- Massachusetts reported 30,735 thefts from homes.
Any homeowners policy will cover damage to the home from any break-in as well as damage to any other property that is considered part of the house. You can also choose to cover the contents of your home at replacement value or at current value depending on your needs. It is best to get a quote for every option so that you can decide what is affordable with your budget.
Number of Catastrophes in Massachusetts
Massachusetts has one of the lowest rates of widespread damage from catastrophes. Storms are relatively rare, and earthquakes are unheard of. Even a small number of events can cause a lot of damage, however:
- In recent years, 140 catastrophes were reported.
- There were only two tornadoes included in this total.
- 1 in 15 insured homes has a claim every year.
The right insurance policy protects you from damage caused by a storm, like a wicked nor’easter. Even though storms are rare in this climate, when they do strike, you have to be ready. A good insurance policy makes all the difference when it’s time to clean up and put your home back together.
What Are the Risks in Hyannis?
While the risks are relatively low and home insurance is comparably less expensive than in many places, the liability you take on simply by owning a home is large. For example, if you have a trampoline, you also have an “attractive nuisance” that may cause injuries to visitors. Even if someone is not an invited guest on your property, that person can still sue you for any injuries incurred at your home. You need to be covered for a wide variety of potential risks, some of which you may not even be aware of.
Compare Hyannis Home Insurance Quotes
Talk to your Independent Agent to find the best homeowners insurance that fits your home, your lifestyle and your wallet. With extensive knowledge of the companies that cover homes in Hyannis and Barnstable, your agent will find the quote that works for you at a price you can afford.