The following is a list of the Top 10 Home Insurance Companies in Massachusetts according to The Massachusetts Division of Insurance. In the homeowner’s market, the DOI is responsible for monitoring the market for coverage, reviewing the activities of the residual market administered by the FAIR Plan and reviewing all homeowner company’s and FAIR plan, forms, rule and rate submissions.
In 2010, the State Rating Bureau completed a report examining the homeowner’s insurance market. Among some of the findings of the report are the following:
- between 2007 and 2009, the number of home insurance policies written increased by 27, 402 policies;
- the biggest market change occurred in tenant’s insurance coverage which saw 22, 310 additional tenant policies written in 2009 as opposed to 2007;
- between 2007 and 2009, the average premium for tenant’s insurance decreased by the average premiums for traditional and condominium homeowner’s insurance policies increased from $388 per policy to $435 per policy and from $1,050 to $1,064 per policy respectively.
- by 2009, the Mass FAIR plan remained the largest home insurer writing 14.7% of all 2009 home insurance premiums in the Commonwealth.
#10. Phoenix Insurance Company (CT).
2010 Written Premium: $54,249,799.00 2010 Market Share: 3.16% 2009 Written Premium: $59,629,682.00 2009 Market Share of 3.56%. Position last year: 8#9. Amica Mutual Insurance Company (RI)
2010 Written Premium: $56,309,823.00 2010 Market Share: 3.28% 2009 Written Premium:$53,118,566.00 2009 Market Share:3.17% Position last year: 9#8. Vermont Mutual Insurance Company (VT).
2010 Written Premium: $59,571,619.00 2010 Market Share: 3.47% 2009 Written Premium: $60,761,962.00 2009 Market Share: 3.63% Position last year: 7
#7. Safety Ind Insurance Company (MA).
2010 Written Premium:$59,608,529.00 2010 Market Share: 3.47% 2009 Written Premium: $49,064,748.00 2009 Market Share: 2.93% Position last year: 11
#6. Quincy Mutual Fire Insurance Company (MA)
2010 Written Premium: $76,658,478.00 2010 Market Share: 4.47% 2009 Written Premium: $81,660,441.00 2009 Market Share: 4.88% Position last year: 5
#5. Commerce Insurance Company (MA)
2010 Written Premium: $79,058,802.00 2010 Market Share: 4.61% 2009 Written Premium: $74,761,868.00 2009 Market Share: 4.47% Position last year: 6
#4. Merrimack Mutual Fire Insurance Company (MA)
2010 Written Premium: $87,252,469.00 2010 Market Share: 5.08% 2009 Written Premium: $92,354,678.00 2009 Market Share: 5.52% Position last year: 4
#3. Liberty Mutual Fire Insurance Company (WI)
2010 Written Premium: $106,168,839.00 2010 Market Share: 6.18% 2009 Written Premium: $102,754,171.00 2009 Market Share: 6.14% Position last year: 3
#2. Arbella Mutual Insurance Company (MA)
2010 Written Premium: $114,922,322.00 2010 Market Share: 6.69% 2009 Written Premium: $103,703,091.00 2009 Market Share: 6.19% Position last year: 2
#1. Citation Insurance Company (MA)
2010 Written Premium: $119,994,551.00 2010 Market Share: 6.69% 2009 Written Premium: $105,674,783.00 2009 Market Share: 6.31% Position last year: 1
