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Vargas & Vargas Insurance

1133 Washington St
Dorchester, MA 02124

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Our business hours are Monday-Friday 9am – 5:30pm
For assistance with claims after 5:30, please call 617-322-5289

Flood Insurance in Massachusetts

Mortgage lenders generally insist that you have a policy in place to protect their investment. In Massachusetts, banks can require you to have flood insurance. But choosing a policy that covers your needs can be complicated. At Vargas & Vargas Insurance, our professionals are available to help members of the Dorchester, MA community select a policy that meets your needs and not just the bank’s. We’ll work to answer your questions and help you with a flood insurance policy that provides you with security.

Flood Insurance Requirements

Over the years, many homeowners got into hot water by not carrying flood insurance. That’s why the Commonwealth of Massachusetts adopted a rule allowing lenders to require flood insurance. The requirement can’t exceed the amount you owe on your mortgage or home equity loan. But residents in the Dorchester, MA community face the possibility of coastal flooding from the Bay one side and the Neponset River on the other. Even if your lender hasn’t made this mandatory, it’s clearly in your best interest to have coverage. The question for homeowners should be a matter if how much coverage to carry.

Avoid Being Underinsured

State minimum regulations are just that, minimums. They’re designed to protect the lender’s interest, not necessarily yours. In the event of a flood, damage and remediation could far exceed the minimum.

If you suffer a total loss, for example, you would need to make up the difference between flood insurance cover and replacement costs. Keep in mind that restoring a building at today’s construction rates could be far more than the amount of coverage you have or even the current property value. The price of labor and materials often outpaces the real estate market. Once the coverage is exhausted, you could find yourself in an uncomfortable financial situation.

At Vargas & Vargas Insurance, we are committed to serving the good people of Dorchester, MA. Our insurance professionals are available to create a policy or update an existing one that provides you with secure coverage.

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Become a Referral Partner

At Vargas and Vargas Insurance, we strive to earn your referrals. In fact, our goal is to be the most-referred insurance agency in the region. To achieve this goal, we know that we must provide our clients with unparalleled value, by providing a great product, great service, and being a hub for professional relationships.

In some cases, our clients need help that we cannot directly provide. During circumstances like these, we like to refer our clients to local experts that can provide them with quality products and services. If you are a professional that would like to join our referral network, please call 617-298-0655 or click here.

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