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    Residents have a lot invested in their homes. Very few families could financially recover if something ever happened to their most important asset, their residence. However, Homeowners insurance not only protects their property, but it also provides residents with personal liability as well.

    Residents have a lot invested in their homes. Very few families could financially recover if something ever happened to their most important asset, their residence.

    • Coverage A 
    • Coverage B 
    • Coverage C 

    What is Homeowners Insurance?

    Massachusetts residents have a lot invested in their homes. Very few families could financially recover if something ever happened to their most important asset, their residence.  However, Homeowners insurance not only protects their property, but it also provides residents with personal liability as well.

    What is Covered Under a Homeowners Policy?

    There are two sections to a Homeowners policy. Section One covers Property, while Section Two covers and Personal Liability.

    • Coverage A, provides a limited amount property coverage to owner-occupied dwellings.  The coverage limit provided is based on the cost to replace a dwelling.
    • Coverage B, provides coverage to other structures detached from the dwelling.  This automatically covers 10% of the determined limit of Coverage A
    • Coverage C, protects against all of the unscheduled personal property of an insured while located in any part of the world. The insured’s unscheduled personal property is covered by all perils listed on the broad form policy. Coverage C automatically covers 50% of Coverage A limits.
    • Coverage D, protects against loss of use. This coverage is automatically 20% of Coverage A limits to pay for additional living expenses to reside at another location due to a covered loss.
    • Coverage E, covers against legal suits resulting from Property Damage or Bodily Injury to others. Initially, this part covers up to $100,000, but can be increased.

    Coverage parts A through D are all covered under Section One of the Homeowners policy, while Coverage E is covered under Section Two of the Homeowners Policy.

    Endorsements can be purchased to also cover Business Pursuits, Inflation Guard, Expanded Home Daycare, Personal Injury, Scheduled Property, Identity Fraud Expense and Guaranteed Replacement Cost of a Dwelling protections among many other endorsements available.  Ask on of our Personal Lines Agents for more information about the endorsements listed above, and even more endorsements that can enhance your Homeowner policy coverage.

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    TESTIMONIALS

    Customers Love Us

    • I love Paul Murphy insurance. I have been a customer since 2004 upon first getting my license. I wouldn't dream of working with any other insurance agency. Paul Murphy insurance as far as I'm concerned is part of my family. I do more personal registration and insurance transactions through them per year then any normal sane human being should be a part of. They have known me on a first name basis for quite a while and know exactly what it means when I walk in the door. They have been above & beyond helpful and I've learned so much from them. I'll bet my bottom dollar when they see this review they'll know who this is. Have a wonderful day Paul Murphy crew you'll probably see me in about 2 months.

      Sikla wolfy, Google Review

    • We had an absolutely fantastic experience with this company. They truly are a one-stop-shop, sorting out every single thing from car and house insurance to even managing the process of getting our plates directly from their office. This is an excellent, all-encompassing business; you simply can't go wrong choosing them. They are our exclusive insurance provider in New England.

      DC, Google Review

    • I've been with Paul T Murphy since 2005. My home, car and business liability insurance has gone through this agency. I've had a series of unfortunate matters over the past 2 years and they've helped me every step of the way. Stephanie is my usual point of contact. She is encouraging, caring and extremely informative. She always gets me the answers I need. Whatever help I need, she is always willing to provide support and instruction. Most importantly, she cares. She often just asks how things are going and provides warm customer service.

      Nika Hollingsworth, Google Review

      Winchester, MA

    • I have been with Paul T. Murphy insurance for years. I have recommended several friends and family members who are very happy with this company. We have our home ins., Liability ins., commercial vehicle coverage and also our personal auto coverage. Just recently my husband was involved in an accident and I was getting no where with the insurance carrier so I called Greg. He did everything he could for us. In the end it worked out due to him and all his hard work. I have also worked with Brian and Du on numerous occasions. They have always worked so hard at getting us the best insurance coverage for a best rate. The customer service there is a 5 star!

      Erin McCabe, Google Review

    • Paul T Murphy Insurance is like having a team of friends in your corner who are always there when you need them. The entire staff is genuinely sincere and incredibly responsive, especially my agent, James. He’s a total pro—always on top of things, super informative, and makes everything easy. Whether it’s a quick question or something more urgent, they’re always ready to help. Can’t recommend this group enough for all your insurance needs!

      Pat McCarthy,Google Review

    • I’ve been a customer of Paul T Murphy Insurance for almost 20 years and have never had to worry about my insurance needs because they always go above and beyond. The staff are incredible and work tirelessly to ensure that they do their very best to support each and every one of their customers. I’ve never encountered a more helpful staff that work around the clock to get the best rates and ensure their customers are happy and taken care of with the best coverage!

      Lindsay Porziella, Google Review

    • James at Paul T. Murphy insurance company was amazing to work with! He helped my husband and me out with our auto and home insurance and was able to save us money for a better policy than our current provider. He was prompt to respond and answered all of our questions! I am so impressed with his knowledge and expertise in the insurance industry! Thank you James

      Ashleigh Cregan

    • Paul Murphy Insurance is the best. The people I've had the pleasure of dealing with were professional, helpful, friendly, made sure that all my questions were answered, and were able to find the best policies for my needs. Most recently, Stephanie, went above and beyond to take care of my issues. I definitely recommend them.

      Jessie Bowen

    • Paul Murphys is the best of the best! Steph is amazing and so sweet! I got into an accident last year and she was there to help with any questions I had and always called to keep me updated and keep in the loop with everything. She makes sure I get the best deal and on top of it all

      Anna Marguerite

    • I’ve only been working with Paul T. Murphy insurance for a short time and I can say with confidence, I made the right choice by choosing their agency. My agent Mike Kulch has been extremely helpful, informative, and always follows up quickly. Sherri in customer service has also been great to work with. As soon as I answered her questions and sent my documents I had a quote within minutes. Thank you Mike and Sherri for helping me lower my home owners insurance

      Ashlyn Tuffy

    Homeowners Insurance Massachusetts

    What Types of Dwellings Are Covered by Home Insurance?

    Massachusetts’s residents live in many different housing situations, and insurers offer a range of home insurance policies. These policies are often identified by an abbreviation that’s standardized throughout the industry, “HO” and are written for owner-occupied dwellings.  The following are types of homeowner’s policies:

    • HO-1 Basic Form Policy, is designed to protect a dwelling from 10 named perils.  However, the HO-1 policy is uncommon due how HO policies have evolved over the decades
    • HO-2 Broad Form Policy, is a more common form of homeowners policy that protects dwellings from 16 named perils, as well as providing personal liability
    • HO-3 Special Form Policy, is the most common form of homeowner’s policy and is referred to as an open peril policy.  HO-3 policies aren’t limited to named peril coverage, but they protect dwellings from all perils except those that are explicitly excluded
    • HO-4 Tenants Form Policy, is designed specifically to protect renters personal belongings and personal liability
    • HO-5 Comprehensive Form Policy, is an open peril policy that is nearly identical to the HO-3 policy but the HO-5 policy extends open peril coverage to personal property as well as the dwelling
    • HO-6 Condo Policy, which limits dwelling coverage within an individual condominium unit, but also provides protection for personal belongings and personal liability

    Although there are several variations of the Homeowners policy, each of these policies can often be adapted for a particular policyholder’s needs by purchasing endorsements. Work directly with one of our agents to help determine which HO policy form and build a policy that best fits your unique needs

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    What is Dwelling Fire Coverage?

    Dwelling fire coverage is coverage designed for residential properties, but is not restricted to owner-occupied residence.  Similar to HO polices, Dwelling fire policies offer a Dwelling Property Basic Form, Dwelling Property Broad form and a Dwelling Property Special Form policies.  Dwelling fire policies are abbreviated as “DP” forms within the industry.

    • Dwelling Property Basic form, is designed specifically against the peril of fire.  Therefore, it provides limited coverage for a dwelling loss caused by fire, lightning or an explosion.  This form is often referred to as a DP-1 policy.  Eight additional peril coverage types can be added such as hail or windstorm, aircraft, riot, vehicle damage or smoke damage.
    • Dwelling Property Broad form, also a named peril form that covers additional peril types from the basic form, but this form also adds coverage that extends protections to also cover against replacement cost and additional living expenses.  This is typical referred to as a DP-2 form.
    • Dwelling Property Special form, also covers replacement cost and additional living expense coverage, but structural and personal property losses are covered on an open-peril basis.  This means the structural losses are covered by all perils unless specifically excluded on the policy.  This provides the most comprehensive policy to maximize coverage as well as types of losses covered, and are often referred to as the DP-3 form.

    Homeowners Insurance Massachusetts

    What is the Difference Between Apartment Insurance and Condo Insurance?

    Apartment Insurance and Condo Insurance policies both provide personal property coverage and personal liability coverage. They differ in the structural coverage they provide. As mentioned, apartment policies typically do not provide structural coverage.  Condo policies frequently have structural coverages for the features inside a condominium. For example, a condo units cabinets, built-in bookshelves and hardwood floors might be covered by a policy depending on the policy’s terms and conditions. Common structures, including exterior building walls and walls between units, are normally covered by a Condo Association’s Master policy rather than a Condo Owner’s Personal policy.

    How Can Massachusetts Residents Purchase Homeowners Insurance?

    With several different Homeowners Insurance policies, finding a policy that provides the best coverage for your family requires in-depth research and intimate knowledge of the subject. For help selecting the correct policy type and comparing the rates, contact our Independent Personal Lines Insurance Agents who are familiar with all forms of Homeowners Insurance. By comparing carrier rates, our agents can find the most comprehensive policy offered at the lowest rate!

    Get a Free Homeowners Insurance Quote!
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    Paul Murphy Insurance • 628 Broadway, Rt 99 Malden, MA 02148 • 781.321.9700


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    This material is for informational purposes only. All statements herein are subject to the provisions, exclusions and conditions of the applicable policy, state and federal laws. For an actual description of coverage, terms and conditions, please refer to the applicable insurance policy or check with your insurance professional. The illustrations, instructions and principles contained in the material are general in scope and, to the best of our knowledge, current at the time of publication.

     

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