Nearly 17,000 people live in Swansea, Massachusetts. If you are among the property owners in this historic New England town, you will want to be sure to protect the investment you have made in your house by buying a good homeowners insurance policy.
Independent insurance agents can help you find the best and most affordable coverage for your Swansea home. 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 Swansea, MA?
The average cost of homeowners insurance in the state of Massachusetts is higher than the national average.
- National average yearly premium: $1,211
- Massachusetts average yearly premium: $1,488
Your actual homeowners insurance cost is likely to differ from the average rate mentioned above because rates are calculated on a case-by-case basis according to several considerations such as the following information.
- The age, size, and value of your house
- The type of home you are insuring (e.g., single-family detached house, rental property, vacation home, etc.)
- The number of stories your house has and whether or not it has a basement
- 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 coverage with other policies like car insurance or boat insurance
Every insurance company has its own method for calculating rates. Comparing a variety of quotes lets you choose the policy that offers the coverage you want at the lowest price.
What Kinds of Damaging Events Are Covered by Swansea Home Insurance?
Your homeowners insurance is designed to pay for repair or replacement costs if your property is lost or damaged by a covered event. Unless you have purchased a named peril policy, you can expect your homeowners insurance to cover against the following hazards.
- Severe storms, such as hurricanes, tropical storms, windstorms, and thunderstorms
- Falling objects, such as hailstones and uprooted trees
- Damaging winter weather, such as heavy snows and ice accumulation
- Accidental fires
- Property crimes
Dwelling insurance covers the structure of your house while contents insurance covers your personal property. You will want to be sure to have enough coverage in each category to enable you to repair, rebuild, or replace following a disaster.
It is a good idea to review your coverage limits every few years to make sure they are still sufficient.
What about Coverage against Floods?
Homeowners insurance does not cover damage caused by floods. However, floods pose a significant risk throughout the Swansea area, especially for residents in South Swansea.
Floodfactor.com has identified 62 properties in North Swansea and 94 properties in South Swansea with a high risk of sustaining flood damage. Residents of Swansea currently experience an average of $450,000 worth of flood damage every year.
That is why you may find it extremely beneficial to supplement your home insurance with a flood insurance policy. Affordable policies are available through the National Flood Insurance Program (NFIP).
Flood insurance policies take 30 days to go into effect so do not wait until a hurricane or tropical storm is headed your way to buy coverage.
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What Is Loss of Use Insurance?
Swansea has a high risk of hurricane damage. This town has been impacted by 36 hurricanes since 1930. If a major catastrophe like a hurricane or a kitchen fire renders your home uninhabitable while repairs are made, loss of use insurance can help.
Loss of use insurance is a standard part of most homeowners insurance policies. If you are displaced from your home by a covered event, this insurance can provide coverage for necessary expenses.
- Temporary accommodations, like a hotel or rental unit
- Meals, if your accommodations do not include a kitchen
- The cost of temporary storage for your property
- Moving expenses
- Pet boarding, if needed
This coverage can continue until you are able to safely return to your home or you have purchased a different house to move into.
Why Is Liability Insurance Important for Swansea Homeowners?
Liability insurance is a standard part of every home insurance policy. It is designed to cover expenses like court costs, legal fees, settlements, and judgements if you or someone in your household is unintentionally responsible for injuries or property damage to others.
The Insurance Information Institute (III) reports that dog bites account for nearly one third of all homeowners liability insurance claims, and the average cost of a dog bite liability claim in 2020 was $50,425.
Because of this, your home insurance rates are likely to go up a bit if you own what is considered a dangerous breed dog.
Here are some other examples of times your homeowners liability coverage can prove beneficial.
- If a visitor to your home is badly injured on your property.
- If you accidentally hit someone with a golf ball while playing a round at the Swansea Country Club.
- If your child breaks a neighbor’s window while playing in the backyard.
- If you or someone is your household is accused of libel or slander.
Most insurance companies offer between $100,000 and $300,000 in homeowners liability coverage. If you want to significantly boost your coverage limits, you can also purchase an umbrella insurance policy.
Does Swansea Homeowners Insurance Cover against Burglaries?
The burglary rate in Massachusetts is lower than the national rate. And in Swansea, the current rate is even lower. Residents of this town reported just 17 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 Swansea: 1.02
It is worth noting that the burglary rate in Swansea wasn’t always this low. It has been steadily declining every year since 2012, when 89 burglaries were reported.
If your house is targeted by burglars, it may give you some peace of mind to know that your homeowners insurance can reimburse you for your property losses as well as for any damage the burglars may have done to your home. You will need to have a copy of the police report when you file your claim.
If your home is equipped with a burglar alarm or other theft-deterring device, you may qualify for a discount on your homeowners insurance rates.
Why Work with an Independent Insurance Agent?
The easiest way to find the best and most affordable coverage for your Swansea home is by working a local independent agent. These agents work for you, not for a specific insurance company. This means they are able to request customized quotes from a variety of competing insurance providers.
Discover the many advantages of working with an independent agent. Schedule an obligation-free consultation with an insurance agent near you to get started.
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