Massachusetts Flood Insurance
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.
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.
Flood Perils Include:
Sewer backup caused by flooding
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.
The two primary types of Massachusetts Flood Insurance Policies are listed below.
Actual Cash Value Policy
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.
Commercial and apartment buildings will be covered only for actual cash value.
Replacement Value Policy
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.
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 or our Methuen, MA location at (978) 681-8200
to discuss the policy features in more detail.
We are a full service insurance agency with two offices in Essex County, MA offering lower cost
Massachusetts flood insurance policy rates in the following cities and counties: Lawrence, Methuen,
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.
Unusual & rapid accumulation of runoff or surface
waters from any source
Overflow of inland or tidal waters
Mud slides caused by flooding
The washing away, collapse, or subsiding of land
along the shoreline due to erosion or undermining
of waves or currents exceeding the cyclical levels
**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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T. A. Sullivan Agency
344 South Union Street
Lawrence, MA 01843
Essex County, Massachusetts
(978) 683-4700
Fax: (978) 794-8570
T. A. Sullivan Agency
369 Merrimack Street
Methuen, MA 01844
(978) 681-8200
Fax: (978) 681-7775
Massachusetts Flood Insurance
T. A. SULLIVAN
AGENCY, INC.
Massachusetts Flood Insurance
Since 1963
T. A. Sullivan Agency, Inc.
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