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You are here: Home / Insurer News / Top Massachusetts Insurers / The Top 20 Homeowner’s Insurers in Massachusetts in 2018

The Top 20 Homeowner’s Insurers in Massachusetts in 2018

February 27, 2018 by Julia Ybarra

Agency Checklists, MA Insurance News, Mass. Insurance News, Top Homeowner's Companies in Massachusetts, Arbella, Commerce, Safety, Merrimack, Bunker Hill Insurance, Who writes homeowner's insurance in Mass?A look at the size of the Homeowner’s Multi-Peril marketplace in Massachusetts…

Continuing with our top ten lists, and in light of this week’s article on the new 2018 U.S. Property Claim’s Survey, Agency Checklists decided to focus this week’s list on the Homeowner’s Multi-Peril marketplace in Massachusetts. As just a reminder, all of our information comes courtesy of the Division of Insurance and includes data from 2016, the last year for which complete information is available.

In comparison with other lines of insurance, Homeowner’s Multi-Peril is one of the larger lines of insurance, however it is not the largest. For example, with $2,279,299,505 in Total Direct Written Premium in 2016, this market is much, much, larger than the Burglary & Theft line of insurance, but smaller than the Life Insurance marketplace here.

A total of 154 insurers write this line of insurance in Massachusetts

There are only 154 insurers writing Homeowner’s Multi-Peril Insurance in Massachusetts. This is much smaller than many other lines of insurance, for example, this number is less than half of the number that write life insurance.

In terms of the amount of Massachusetts-based insurers who write this line of insurance, however, this is where this line dominates. For example, the top five writers of this line of insurance are all based in Massachusetts, with a total of nine, or just under half, of the top 20 companies hailing from here. Those companies are:

  • Citation Insurance Co.
  • Arbella Mutual Insurance Co.
  • Commerce Insurance Co.
  • Safety Ind. Insurance Co.
  • Merrimack Mutual Fire Insurance Co.
  • Liberty Mutual Insurance Co.
  • Safety Insurance Co.
  • Quincy Mutual Fire Insurance Co.
  • Bunker Hill Insurance Co.

Premium and market share for the Top 10 and 20 insurers…

Some more data that you might find interesting about this line of insurance:

  • The top 20 insurers have over half the  Homeowner’s Multi-Peril market share with their Direct Written Premium totaling $1,425,994,969.
  • This amount represents a 62.6% share of the market.
  • The remaining 134 companies writing in this line of business have a 37.4% of the market with $853,304536 dollars in Direct Written Premium.

So who are actually the largest writers of this line of business…

Please note, all of the names in color correspond to those companies that have been listed above as based in Massachusetts…

Company Name State Premium Written in MA Market Share in MA
1.  Citation Ins Co   MA $193,198,100 8.48%
2.  Arbella Mut Ins Co   MA $149,208,886 6.55%
3. Commerce Ins Co   MA $114,103,134 5.01%
4. Safety Ind Ins Co   MA $98,602,187 4.33%
5.  Merrimack Mut Fire Ins Co   MA $93,976,001 4.12%
6. Liberty Mut Fire Ins Co  WI  $91,367,849 4.01%
7.  Amica Mut Ins Co  RI $86,192,019 3.78%
8. Vermont Mut Ins Co  VT   $81,041,449 3.56%
9.  Metropolitan Prop & Cas Ins Co  RI  $54,374,839 2.39%
10. LM Gen Ins Co  IL   $52,096,856 2.29%
11.  Liberty Mut Ins Co  MA  $51,485,857 2.26%
12. Safety Ins Co  MA   $51,110,188 2.24%
13. Quincy Mut Fire Ins Co  MA  $50,734,240 2.23%
14. Pacific Ind Co  WI  $49,850,572 2.19%
15.  Narragansett Bay Ins Co  RI  $48,745,561 2.14%
16. United Prop & Cas Ins Co  FL $42,538,582 1.87%
17. Preferred Mut Ins Co  NY $40,727,087 1.79%
18. United Serv Automobile Assn  TX $40,227,783 1.76%
19.  Bunker Hill Ins Co  MA  $36,413,779 1.60%
20. Citizens Ins Co Of Amer  MI $36,199,517 1.59%

Filed Under: Top Massachusetts Insurers Tagged With: arbella, Bunker Hill, commerce, ma insurance news, Mass. Insurance News, quincy mutual, safety, Top Homeowner's Insurance Companies in Massachusetts, Who are the largest writers of homeowner's insurance in MA?, Who writes homeowner's insurance in Massachusetts?

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