How much is homeowners insurance in Richmond, MA

Why you can trust Insure.com

Quality Verified

At Insure.com, we are committed to providing the timely, accurate and expert information consumers need to make smart insurance decisions. All our content is written and reviewed by industry professionals and insurance experts. Our team carefully vets our rate data to ensure we only provide reliable and up-to-date insurance pricing. We follow the highest editorial standards. Our content is based solely on objective research and data gathering. We maintain strict editorial independence to ensure unbiased coverage of the insurance industry.

In Richmond, homeowners pay an average annual rate of $1,180 (for the coverage level of $300,000 for dwelling, $100,000 for liability protection, and $1,000 deductible), according to Insure.com’s rate analysis. It’s $1,324 less than the national average of $2,504.

Homeowners insurance rates change from one home to another. The home insurance premium in Richmond depends on various factors, such as:

• Size of your home
• Age of your home
• Amount of coverage you need
• Location
• Your credit score

To ensure you secure the best homeowners insurance policy, compare quotes from multiple insurers, enabling you to find the right coverage that aligns with your specific requirements.

Read this guide to learn how much homeowners insurance costs monthly in Richmond, what home insurance costs for different dwelling coverage, and which companies offer cheap home insurance in Richmond.

How much is homeowners insurance in Richmond per month

According to our rate analysis, homeowners in Richmond pay an average of $98 per month. It’s $37 less than the state average of $135 and $111 less than the national average for home insurance across the United States.

In Richmond, the cost of your homeowners insurance policy depends on the value of your home, location, and the coverage options you select.

How much is homeowners insurance for a $200,000 house in Richmond

In Richmond, MA, homeowners pay an average of $940 annually for a $200,000 home. The annual cost of home insurance is influenced by factors such as the risk of natural disasters in your area.

Regions more susceptible to natural disasters, such as floods, hurricanes, or tornadoes, typically face higher rebuilding costs, leading to increased insurance premiums. It is important to understand that standard insurance policies might not cover damages caused by floods or hurricanes. If you live in a flood-prone area, it is advisable to purchase flood insurance.

How much is homeowners insurance for a $300,000 house in Richmond

As per rate analysis by Insure.com, homeowners residing in Richmond typically pay an average of $1,180 annually to insure a home for coverage limits of $300,000 dwelling, $100,000 liability protection with a $1,000 deductible.

Your home insurance rates will be increased by $240 if you increase your dwelling coverage from $200,000 to $300,000. It is advisable to buy enough insurance sufficient insurance to cover the entire cost of rebuilding your home. However, the amount of dwelling coverage you need may vary depending on the size of your home, the features in your home, and the cost of living in your area.

How much is homeowners insurance in Richmond by company

After evaluating several carriers, State Farm is the least expensive homeowners insurance provider in Richmond. It’s average annual rate for homeowners in Richmond is $735, while Andover Insurance holds the second position.

Researching the insurance company is crucial before selecting a homeowners insurance policy. Our experts have analyzed all insurance providers in Richmond and compiled a list of the cheapest home insurance providers. Below, you’ll find the home insurance companies in Richmond and their average annual premiums.

Common natural disasters in Massachusetts that may affect home insurance

Natural disasters are unpredictable events that can cause significant damage to homes and property. Understanding these risks is important to ensure that your home insurance policy provides adequate protection in the event of a disaster.

Coastal flooding, Hurricane, Ice storm, Lightning and Riverine flooding are some of the common natural disasters in Massachusetts that may influence your home insurance rates.

How home insurance protects you against natural disasters

Home insurance can provide valuable protection against the financial impact of natural disasters. Standard home insurance policies typically cover damages from fire, windstorms, hail and lightning. However, events such as floods, earthquakes or landslides are often excluded and require purchasing additional policies or endorsements. For example, flood insurance must be purchased separately, as it is not typically covered by a standard home insurance policy.

Home insurance helps pay for home repairs, replacement belongings and temporary living expenses if your dwelling becomes uninhabitable due to damage. The protection offered by home insurance can significantly reduce the financial impact of natural disasters.

Methodology

Insure.com, with the help of Quadrant Information Services, gathered data for homeowners insurance rates in Richmond for $300,000 dwelling coverage, $100,000 liability coverage with a $1,000 deductible. The data presented are those with a good credit tier alignment.

Shivani Gite

Contributing Writer

 

|

 . .

Shivani Gite is a personal finance and insurance writer with a degree in journalism and mass communication. She is passionate about making insurance topics easy to understand for people and helping them make better financial decisions.

Related Articles

How to prevent tornado damage By Ashlee Tilford

Does homeowners insurance cover code upgrades? By Nupur Gambhir

Mobile home insurance cost and coverage in 2025 By Chris Kissell

Homeowners insurance rates by state in 2025 By Jake Safane

The 10 costliest wildfires By Zack Sigel

How to prepare for a hurricane By Kara McGinley