Homeowner’s Insurance and
Mass FAIR Plan (Fair Access to Insurance Requirements)

The Massachusetts FAIR Plan is administered by Massachusetts Property Insurance Underwriting Association, which is an insurance association comprised of all companies writing basic insurance in the Commonwealth. They are required to participate with the losses shared among member companies on a premium volume basis. To read about the origins of FAIR Plans go to mpiua.com. The FAIR Plan operates similar to a normal insurance company. Their mission is to make basic property insurance more readily available to all eligible applicants who have been unable to secure insurance in the voluntary market.

On Cape Cod, the FAIR Plan covers approximately one-third of homeowner’s insurance due to the sudden and rapid retreat of other vendors from this coastal market. The coverage offered by the FAIR Plan is comparable to most policies available in the competitive market. Homeowner’s coverage on Cape Cod is a ‘hot’ topic, and the insurance specialists at McShea Insurance are ready and able to answer all your questions and concerns.

So, if you receive a letter from your current homeowner’s insurance company informing you that they have decided not to renew your insurance, please don’t take offense. It has nothing to do with you or anything you did personally. It is based on a risk analysis, and just because you live where you do, you are now a FAIR Plan customer.

Homeowner’s Insurance and Mass FAIR Plan (Fair Access to Insurance Requirements)

Homeowner’s Insurance and
Mass FAIR Plan (Fair Access to Insurance Requirements)