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Massachusetts Flood Insurance Policy Information
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Even though flood insurance is relatively inexpensive, most
homeowners do not choose to purchase the insurance protection available. According to the Federal Insurance Administration, less than one-quarter of the homes in areas most vulnerable are insured against flood loss. In those areas, flooding is 24 times more likely to occur than a fire during the course of a typical 30 year mortgage. |
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A standard homeowners insurance policy will not
cover damages caused by flooding. You must have flood insurance from an insurer that writes for the National Flood Insurance Program. If your community participates in a floodplain management program, you should be eligible to buy the coverage no matter if your flood risk is low, medium or high. Residents of "coastal barrier areas" and communities that do not participate in floodplain management programs may have trouble finding flood insurance coverage. Massachusetts flood insurance is also available to renters, condominium owners, and co-op owners. |
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Flood Perils Include:
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Sewer backup caused by flooding
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Outside of fire, flooding is the most widespread natural disaster. According to
the National Flood Insurance Program, two adjacent properties have to be under water to call the situation a flood. In a rural area, at least 2 acres must be submerged. |
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The two primary types of Massachusetts Flood Insurance Policies are listed below.
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Actual Cash Value Policy
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The value of property as figured by determining the cost to replace the damaged or destroyed
property and adjusting the replacement value by subtracting an amount that reflects depreciation. Or in other words, replacement cost minus depreciation. Homeowners are generally entitled to a replacement cost value if they live in their homes at least 80% of the time and have flood insurance coverage for at least 80% of their home's market value. |
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Commercial and apartment buildings will be covered only for actual cash value.
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Replacement Value Policy
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The amount it costs to replace or rebuild a damaged property. Replacement cost coverage is
available only for the building portion of a condominium insurance policy. Owners of single- family homes may be able to buy replacement cost coverage on the building portions of their flood insurance policies. A Massachusetts flood insurance replacement value policy will pay only the replacement value up to the coverage limit. For example, if rebuilding your home will cost $400,000, but you only purchased $300,000 in coverage, your insurance policy will pay you only $300,000. |
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Click on the link below to fill out a secure quote request form for a Massachusetts Flood
Insurance policy that will provide excellent personal insurance coverage at an affordable cost. Or you can speak with one of our Massachusetts Flood Insurance agent specialists at our Lawrence, MA location by calling (978) 683-4700, Methuen, MA location at (978) 681-8200, or North Reading location at (978) 276-2300 to discuss the policy features in more detail. |
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We are a full service insurance agency with two offices in Essex County, MA and one office
in Middlesex County, MA offering lower cost Massachusetts flood insurance policy rates in the following cities and counties: Lawrence, Methuen, North Reading, Haverhill, Andover, Boxford, Georgetown, Groveland, Byfield, Merrimac, Newbury, Amesbury, Salisbury, Shawsheen Village, Ballardvale, Wamesit, North Andover, Dracut, Lowell, Chelmsford, Tewksbury, Collinsville, Billerica, River Pines, Nabnaset, Dunstable, Pepperell, Groton, Tyngsoro, Westford, North Billerica, West Andover, Wilmington, Silver Lake, Nutting Lake, Reading, Pinehurst, Burlington, Bedford, Hathorne, Middleton, Lynnfield, Danvers, Hamilton, Topsfield, Plumbush, Newburyport, Salisbury Beach, West Newbury, South Byfield, Little Neck, Rowley, Ipswich, Marlboro, South Hamilton, Beverly, Gloucester, Manchester-by-the- sea, Rockport, Long Beach, Pigeon Cove, Wenham, Boston, Salem, Peabody, Wakefield, South Lynnfield, Woburn, Saugus, Lexington, Winchester, Stoneham, Greenwood, Arlington, Medford, Melrose, Everett, Revere, Chelsea, Marblehead, Swampscott, Nahant, Lynn, Cliftondale, North Saugus, Somerville, Belmont, Cambridge, Waltham, East Arlington, Concord, Carlisle, Middlesex County, Norfolk County, Worcester County, Plymouth County, and Suffolk County, MA. We can also offer Massachusetts flood insurance coverage services throughout the Bay State, including in Worcester, Framington, Leominster, Fitchburg, and Springfield, MA. |
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Unusual & rapid accumulation of runoff or surface
waters from any source |
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Overflow of inland or tidal waters
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Mud slides caused by flooding
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The washing away, collapse, or subsiding of land
along the shoreline due to erosion or undermining of waves or currents exceeding the cyclical levels |
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**The information, pictures, and other content in this website about particular insurance services is
only provided for informational purposes. Any decisions regarding your insurance needs should be discussed with a licensed insurance agent. |
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Massachusetts
Personal Insurance
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Flood Insurance
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T. A. SULLIVAN
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AGENCY, INC.
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Massachusetts Flood Insurance
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Since 1963
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T. A. Sullivan Agency, Inc.
Copyright 2001-2012 All rights reserved
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Site Built & Maintained by InsuranceWebsiteServices.com
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Answer a few questions and
we will provide you with an insurance quote by email, phone or fax. Choose the Massachusetts personal or business insurance coverage you're interested in from the option menu list above. |
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T. A. Sullivan Agency
344 South Union Street
Lawrence, MA 01843
Essex County, Massachusetts
(978) 683-4700
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T. A. Sullivan Agency
135 Merrimack Street
Methuen, MA 01844
(978) 681-8200
Fax: (978) 681-7775
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T. A. Sullivan Agency
246 Main Street
North Reading, MA 01864
(978) 276-2300
Fax: (978) 276-2302
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