A new survey from the Massachusetts Association of Insurance Agents (MAIA) found that many residents may not fully understand what their insurance policies actually cover, especially when it comes to flooding.
The survey found that 65.9% of respondents either do not know or are not sure whether their home is in a FEMA flood zone. Another 52.5% did not know that standard homeowners’ insurance does not cover flood damage.
Those gaps come as Massachusetts faces increasing flood risks tied to nor’easters, storm surge, and rising sea levels. Despite that, 45.5% of respondents said extreme weather risks have not prompted them to take a closer look at their coverage.
The survey also pointed to broader confusion around insurance coverage. More than eight in 10 respondents said insurance has become harder to navigate in recent years, while nearly seven in 10 said thinking about their coverage gives them anxiety.
“Massachusetts residents are dealing with a more complex insurance landscape than ever before, and too many are learning what their policy doesn't cover only after they need it most. These findings are a wake-up call and a good reminder that understanding your coverage before you need it can make all the difference,” MAIA CEO Nick Fyntrilakis said.
Beyond flood coverage, the survey found that many residents are also unaware of changes in the homeowners’ insurance market. Nearly half or 45.3% did not know that some insurers have stopped offering or renewing homeowners’ policies in parts of Massachusetts. Among those who were aware of the issue, 15.6% said it had already affected them or someone they know.
MAIA said residents should review their policies at least once a year and after major life changes such as marriage, divorce, having a child, renovating a home, or buying a new vehicle. The association also encouraged policyholders to ask what is excluded from their coverage, check whether their home is in a FEMA flood zone, discuss flood coverage options, and confirm whether their current insurer is still writing policies in their area.
“These findings underscore why having a knowledgeable, independent insurance agent in your corner has never mattered more. Independent agents work for the consumer, not the carrier - and in today’s insurance environment, that distinction is everything," Fyntrilakis said.
The survey covered 501 Massachusetts residents aged 18 and older who hold at least one insurance policy.
