Living in Medway means enjoying the best of both worlds—small-town charm with easy access to Boston and Providence. With a population of about 13,250 and a median household income of $174,357, this Norfolk County community has quietly become one of Massachusetts' most desirable suburbs. But that prosperity and location come with specific insurance considerations you need to understand.
Here's what makes insurance in Medway different: you're dealing with Massachusetts' unique managed competition auto insurance system, rapidly appreciating home values (median prices jumped 22% year-over-year to $843,000), and New England weather that doesn't mess around. Whether you're a new resident or you've lived here for years, this guide will walk you through everything you need to know about protecting what matters most.
Auto Insurance in Massachusetts: What Changed in 2025
If you haven't shopped for auto insurance since July 2025, you're in for a surprise. Massachusetts increased its minimum coverage requirements for the first time since 1988. The new minimums are now 25/50/30, which breaks down like this: $25,000 for bodily injury per person, $50,000 per accident, and $30,000 for property damage. That's up from the old 20/40/5 limits that frankly hadn't kept pace with modern medical costs and vehicle repair expenses.
The increase bumped minimum coverage premiums by about 36%, bringing the average annual cost to around $711 for bare minimum coverage. But here's the thing—if you're commuting from Medway to Boston or Providence for work, minimum coverage probably isn't enough. A serious accident on I-495 or Route 1 could easily exceed those limits, leaving you personally liable for the difference.
Massachusetts' managed competition system means you can shop around. Since 2008, the state has allowed insurers to set their own rates within regulatory guidelines, so the same coverage can vary significantly between companies. Don't just renew automatically—compare quotes from at least three insurers. Your age, driving record, vehicle type, and even your credit score (in most cases) influence your premium, so what's cheap for your neighbor might not be cheap for you.
Homeowners Insurance: Protecting Your Biggest Investment
With Medway home values soaring to a median of $843,000—up 22% from last year—you need to make absolutely certain your dwelling coverage keeps pace. Here's what trips people up: your dwelling coverage should reflect the cost to rebuild your home, not its market value. In today's construction climate, with labor shortages and material costs still elevated, rebuilding could cost more per square foot than what you paid for the house.
Massachusetts homeowners are paying an average of $2,432 annually for coverage in 2025, up about 16% from the previous year. That's higher than the national average increase, and it's driven by two main factors: increasing severe weather events and high property values. Between 1990 and 2019, Massachusetts experienced 23 weather-related disasters, with heavy downpours increasing 71% since 1958. For Medway specifically, you're looking at risks from nor'easters, flooding (particularly in low-lying areas), and winter storms that can cause frozen pipe bursts.
Standard homeowners policies typically exclude flood damage, so if your property is anywhere near the Charles River watershed or in a designated flood zone, you need a separate flood policy through the National Flood Insurance Program or a private insurer. Even if you're not in a high-risk zone, consider it anyway—flooding is increasingly unpredictable. Water damage from sewer backups may also require an endorsement, as standard policies often cap this coverage at minimal amounts.
Umbrella Insurance: The Safety Net You Probably Need
With a median household income over $174,000 and home values approaching $850,000, most Medway residents have significant assets to protect. That's where umbrella insurance comes in. It kicks in when you exhaust the liability limits on your auto or homeowners policy, providing an additional $1 million to $5 million (or more) in coverage.
Think of it this way: if you cause a multi-car pileup on I-495 and injuries exceed your auto policy's $500,000 liability limit, you're personally responsible for the rest. An umbrella policy would cover that excess. The same applies if someone is seriously injured on your property. The beauty of umbrella coverage is that it's relatively affordable—often $200 to $400 annually for $1 million in coverage—because it only pays out after your underlying policies are exhausted.
Other Insurance Considerations for Medway Residents
If you're renting in Medway while house-hunting in this competitive market (homes are selling in about 26 days), don't skip renters insurance. It's typically $15 to $30 monthly and covers your personal belongings plus liability protection. Many people don't realize that their landlord's policy covers the building structure but none of your stuff.
For those who own recreational vehicles, motorcycles, or boats to enjoy New England summers, you'll need separate policies for these. Massachusetts requires motorcycle insurance with the same minimum liability limits as auto coverage. Boat insurance isn't legally required, but if you're financing the vessel or keeping it at a marina, you'll likely need it anyway.
Getting Started: Your Action Plan
Start by reviewing your current coverage against these new realities. Pull out your auto policy and check your liability limits—are they still 20/40/5? If so, you're not even meeting the new legal minimums. For your homeowners policy, verify your dwelling coverage reflects current reconstruction costs, not what you paid for the house five years ago.
Then shop around. Massachusetts' managed competition system works in your favor here—get quotes from at least three carriers and compare not just the premium but the actual coverage details. Ask about discounts for bundling auto and home, good driving records, home security systems, and claims-free years. Many insurers offer 10% to 25% discounts for bundling alone.
Finally, consider working with an independent insurance agent who can compare multiple carriers at once. They understand Massachusetts' unique insurance landscape and can help you navigate the managed competition system to find the best combination of coverage and price. Given Medway's rising property values and Massachusetts' new auto requirements, now is the time to make sure you're properly protected.
