Hometown Agency - Arapahoe
304 Nelson St, Cambridge, NE 69022
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Cambridge households and business owners trust local agents to navigate carrier appetite shifts, underwriting requirements, and the claims process.
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304 Nelson St, Cambridge, NE 69022
View this agency's profile to learn more about their services.
Learn about insurance coverage options specific to Cambridge residents.
Cambridge renters insurance costs $21/month on average. Learn coverage requirements for grad students and tech workers, what's protected, and how to save.
If you have a mortgage and you're in a FEMA-designated flood zone, yes—your lender will require it. But even if you're not required to buy it, you should seriously consider it. Cambridge's own climate projections show flood risk expanding dramatically by 2070, with storm surge potentially reaching almost to Central Square. Standard homeowners insurance doesn't cover any flood damage, so this is a gap you'll want to close.
Historic home insurance typically costs 20-40% more than standard coverage in Cambridge. If you're paying $1,500 for a standard policy, expect $1,800-2,100 for a comparable historic property. The reason is rebuilding costs: historic homes require period-accurate materials and specialized craftspeople, which can cost $350+ per square foot compared to $200-300 for modern construction.
Actually, no. Cambridge averages $1,477-1,804 annually, which is below the state average of $2,008 and significantly lower than Boston's $2,271. However, if you own a high-value or historic property in Cambridge, your costs will be higher than these averages. Location affects rates by up to 66% in Massachusetts, so where exactly you live in Cambridge matters too.
With Cambridge's median home value exceeding $900,000, you need substantial dwelling coverage—typically $500,000 to $1 million for replacement cost. Don't insure for market value; insure for what it would actually cost to rebuild. You'll also want at least $300,000-500,000 in liability coverage given the urban environment, and personal property coverage of 50-70% of your dwelling amount.
Yes, significantly less. Cambridge condo owners typically pay $350-900 annually compared to $1,477-1,804 for single-family homeowners. That's because your condo association's master policy covers the building structure, common areas, and exterior. Your personal policy only needs to cover your unit's interior, your belongings, liability, and any improvements you've made.
Yes, along with the rest of Massachusetts. Home insurance prices have increased 29.9% over the last six years statewide, with a 10.5% jump in 2023 and another 7.9% in 2024. Rising construction costs, increased claims from severe weather, and higher property values all contribute to these increases. This makes it even more important to shop around annually for competitive rates.
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