B & S Gillis Insurance Inc
7 Washington St, Peabody, MA 01960
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Peabody households and business owners trust local agents to navigate carrier appetite shifts, underwriting requirements, and the claims process.
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7 Washington St, Peabody, MA 01960
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85 Main St, Ste C7, Peabody, MA 01960
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49 Margin St, Peabody, MA 01960
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49 Margin Street, Peabody, MA 01960
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200 Lake Street, Unit 201B, Peabody, MA 01960
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2 Main Street, Peabody, MA 01960
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Learn about insurance coverage options specific to Peabody residents.
Peabody insurance guide covering 2025 auto rate changes, affordable home coverage, flood risks, and local agents on Massachusetts' North Shore.
Home InsurancePeabody homeowners pay $1,600-$2,000/year for insurance. Learn what coverage protects against nor'easters, why older homes cost more, and how to save.
Auto insurance in Peabody follows statewide Massachusetts averages, ranging from about $526-$711 per year for minimum coverage to $1,193-$3,096 annually for full coverage. Your actual rate depends on your driving record, age, vehicle type, and coverage limits. Rates increased significantly in 2025 due to new state minimum coverage requirements, with average premiums rising approximately 36%.
Massachusetts law doesn't require homeowners insurance, but your mortgage lender almost certainly will if you have a loan on your home. Even if you own your home outright, insurance is crucial protection—a single fire or liability claim could wipe out your life savings. The good news is that Massachusetts has some of the most affordable homeowners insurance rates in the country.
It depends on your home's location and proximity to water sources. Standard homeowners insurance excludes flood damage from external sources like storm surge, river overflow, and backed-up storm drains. Given Essex County's coastal location and exposure to nor'easters, flood insurance is worth evaluating—especially since FEMA has updated flood maps for the area. A local agent can help you assess your specific risk.
As of July 1, 2025, Massachusetts requires $25,000 per person and $50,000 per accident in bodily injury liability, plus $30,000 in property damage liability. You also need $8,000 in personal injury protection (PIP), $25,000/$50,000 in uninsured motorist coverage, and $5,000 in damage to someone else's property. However, these minimums may not provide adequate protection if you cause a serious accident.
Start by shopping around—rates vary significantly between carriers. Bundle your auto and home insurance for multi-policy discounts of 15-25%. Raise your deductibles if you have emergency savings. Ask about discounts for being claim-free, having security systems, or taking defensive driving courses. Review your coverage annually to ensure you're not over-insured on older vehicles or under-insured on your home.
Local independent agents work with multiple insurance carriers, so they can compare rates and coverage options on your behalf rather than selling you just one company's policies. They also understand regional issues like winter weather damage, coastal flood risks, and local claims patterns. When you need help with a claim or have questions, you're working with someone familiar with your community who can provide personalized guidance.
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