Despite its small size, Massachusetts is the third most densely populated state in the entire United States. It’s now home to nearly seven million people, with 80% of the population settled in Boston. There are many reasons why people love this state- its rich history and excellent education system are some that top the list.
If you want to settle in the Pilgrim State, searching for the best neighborhood is as essential as searching for homeowners insurance MA. The area you choose determines the quality of your life and the insurance deductible that you have to pay. Your home insurance, on the other hand, will determine your level of protection from human-made and natural calamities.
Protection from Hurricanes in Massachusetts
While it does not always happen, being in the Eastern Seaboard makes Massachusetts vulnerable to hurricanes. Though less are affected compared to Florida and other southeastern states, sometimes, Massachusets bears the brunt of New England’s major storms.
Last year, the state was hit by ten hurricanes, with half of it belonging to category one. Fortunately, though, Massachusetts was never hit by a category 5 or 4 hurricane.
If you want to settle in Massachusetts, you should get a homeowner’s insurance policy with a hurricane deductible. It means you have to pay your insurance company before they can cover any windstorm-related damage to your home.
The insurance deductible cost is usually between one to five percent of your home’s insurance value. The neighborhood where you live also plays a role in home insurance valuation. If you live in low-risk and smaller houses, you might need to pay only $400. If you’re living in fancy mansions and high-risk areas, however, you may be asked to pay $40,000 toward your deductible.
Flood Insurance in Massachusetts
It can also get freezing in Massachusetts, and by freezing, it means to the point of experiencing blizzards. Blizzards are Massachusetts’ most common natural calamity. When the snow melts, intense flooding follows. To protect you and your home from the damage caused by flooding, getting flood insurance will be a great idea.
If you search online using the keyword homeowners insurance in MA, you can check different insurance firms that offer flood insurance. If your house is in a high-risk area, most of these firms will require you to get extra insurance coverage for flooding. Then again, even if your neighborhood does not belong to the high-risk areas, it’s still wise to get flood insurance. As the saying goes, it’s better to be safe than sorry.
Flood insurance usually covers properties in case natural water wreaks havoc. This coverage includes the home’s actual structure and all your belongings inside the property. Some policies require that natural water should cover at least two acres of dry land before they grant reimbursements.
Appliances, furniture, and clothing are only reimbursable if a flood has destroyed them. An “off-premise” coverage allows you to file an insurance claim for lost jewelry. This coverage is not only applicable when you lose the item during the tragedy. No matter how and where you missed it, you can file an off-premise insurance claim.
Despite these natural calamities, many people are still moving to Massachusetts. There is a consistent increase in the demand for homes in the state. The average number of visitors that stay in Massachusetts for short-term rentals has also increased.
No city or state is immune to natural calamities. These are forces of nature that are beyond people’s control. You can, however, take necessary precautions if you invest in homeowners’ insurance. If your home is insured, it does not matter if it rains or floods tomorrow. Rain or shine, you will be protected.