Homeowners Insurance in New Hampshire
Homeowners insurance in New Hampshire should include coverage for hurricanes, severe winter weather, and storm surges.
Written by Andrew Biro
Reviewed by Melanie Reiff
Table of Contents
- What is homeowners insurance?
- Is homeowners insurance required in New Hampshire?
- How to get homeowners insurance
- Recommended home insurance coverage in New Hampshire
- What impacts homeowners insurance in New Hampshire?
- Homeowners insurance discounts in New Hampshire
- How to save on home and auto insurance
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To insure a home in New Hampshire, you’ll want a homeowners policy that provides coverage for hurricanes, winter storms, storm surges, and other weather-related hazards. Comparing quotes from a few different providers is all it takes to find the right homeowners insurance for you.
Let’s face it,
homeowners insurance
is an essential purchase. After all, you need it to protect one of the most important investments you’ll ever make—your house.Before settling on your new policy, make sure you thoroughly understand what it entails, and check that you’re paying a fair price for what it covers.
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What is homeowners insurance?
Homeowners insurance provides coverage for your home and everything in it. A traditional homeowners policy should cover personal liability, property damage, and the total loss of your home.
For homeowners in the United States, expect to pay an average of $1,387 per year, or $115 per month, on your home insurance.
Basic components of homeowners insurance
The following coverage types are included in most homeowners insurance policies:
- Coverage A (Structure): Covers the cost of repairing or replacing the structure of the house.
- Coverage B (Additional structures): Covers the cost of repairing or replacing other structures on the property (sheds, fences, etc.).
- Coverage C (Personal property): Provides financial protection against the destruction or loss of specified personal belongings (electronics, jewelry, furniture, etc.).
- Coverage D (Other expenses): Also referred to as “loss of use,” this covers the cost of any temporary living expenses (such as rent or a hotel) incurred as a result of losing all or part of your house.
- Coverage E (Personal liability): If someone is injured on your property (or by a family member or pet), this pays for your legal fees.
Generally, you can choose between a policy that covers the actual cash value (ACV) of your property at the time of loss or one that covers the replacement cost—that is, the cost of replacing the property regardless of what it’s actually worth. In many, you’ll find that companies require homeowners to purchase a policy covering at least 80% of the replacement cost.
Named perils
For the most part, there is no standardized or exhaustive coverage policy for homeowners insurance. Unless your policy is unique, your homeowners insurance will only cover named perils, or those specific risks stated in the policy. In most cases, these will include:
- Smoke and fire damage
- Hailstorms and wind
- Falling objects
- Damage caused by vehicles
- Power surge damage
- Theft
- Freezing of household systems
- Water overflow or discharge
- Weight of ice, snow, and/or sleet
- Vandalism
To understand everything that’s covered (and not covered) by your policy, you’ll want to read through it carefully before signing.
MORE: Home insurance liability coverage
Is homeowners insurance required in New Hampshire?
Though New Hampshire does not legally require homeowners to purchase insurance, your mortgage lender will almost certainly require it. This is to insure that, should your house be damaged or destroyed, the lender and their investment is protected.
How to get homeowners insurance
If you’ve just bought a house or are looking to find a better rate on your homeowners policy, start by comparing quotes from a few different insurance providers (the
Jerry
app makes this super easy!). While it’s tempting, don’t take the first referral that comes your way—you might miss out on savings as a result.
You should always wait for a quote from your car insurance company, too. Even if the estimated premium is higher, you can bundle your home and auto insurance to save money in the long run.
On average, bundling discounts range from 5% to 15% or even higher, so it’s worth looking into what plans you may be eligible for.
Recommended home insurance coverage in New Hampshire
Due to the state’s proximity to the Atlantic Ocean, houses in New Hampshire are highly susceptible to extreme weather damage. Homeowners will want to make sure they are protected from perils like hurricanes, winter storms, and flood damage.
While most homeowners policies provide coverage for damage due to wind, ice, and snow, you’ll need to take additional measures to make sure your home and belongings are protected against flooding.
To help mitigate the risk of potential damage caused by flooding, keep in mind these three strategies:
- Flood insurance will help protect your home against flooding from an external source. It is available through FEMA’sNational Flood Insurance Program (FLIP)or a referral.
- Water backup insurance may cover the cost of water removal and repairs in the event a pipe bursts or becomes backed up.
- Unless clearly stated as an exclusion in your policy, an H0-5 or open perils policy will cover any risk. This option will be more expensive.
What impacts homeowners insurance in New Hampshire?
On average, the cost of homeowners insurance in New Hampshire is less expensive than the national cost of $1,387 per year. You’ll find that homeowners insurance prices are influenced by a variety of factors that vary from person to person—such as marital status and credit history—but also that New Hampshire has several specific circumstances which impact the cost of homeowners insurance.
Hurricanes and storm surges
Hurricanes and storm surges can be incredibly devastating, often resulting in wind and water damage, two of the more typical home insurance claims. Due to its proximity to the Atlantic Ocean, New Hampshire is particularly susceptible to hurricanes during the summer and autumn months.
Winter storms
Similarly, winter storms can result in severe property damage, caused by hail and snow accumulation. Winter temperatures in New Hampshire may drop below freezing, and the state receives an average of 60 inches of snowfall annually.
MORE: How to bundle home and auto insurance to save money
Homeowners insurance discounts in New Hampshire
Most insurance providers offer a variety of discounts for different types of consumers and actions. In the table below, you’ll find examples of common homeowners insurance discounts.
Discount | How to get it |
|---|---|
Bundling | Bundling home and auto insurance could earn you a steep discount on both policies. |
First-time homeowner | Most companies will offer you a discounted policy if it’s your first time purchasing a home. |
Claims-free | If you maintain a certain period (typically a few years) without any claims on your policy, you may be eligible for a discounted rate. |
Storm proofing | Installing various hurricane safety measures, such as an upgraded roof or storm shutters, could earn you a discount on your homeowners policy. |
Security system | If you’ve got a security system to prevent theft, your insurance company might discount your homeowners insurance rate. |
Upgraded fire alarm | Set up your fire alarm to contact the fire department directly—your insurance company may give you a discount for a shorter fire response time. |
How to save on home and auto insurance
Even if it’s not your first time buying
homeowners insurance
, comparing quotes can be a stressful process. Fortunately, the Jerry
app makes finding the best deals on homeowners insurance easier than ever! In the time it takes for you to answer a quick questionnaire, Jerry will compare personalized quotes from up to 50 name-brand insurance providers and present you with dozens of the best results—no paperwork or hassle necessary.
Once you find the policy that’s right for you, Jerry can even help bundle your
car insurance
with your new homeowners plan!Regardless of whether you’re insuring your home for the first time or just looking for better rates, Jerry has you covered.
“Jerrywas wonderful! I used it for my auto and renters policies. I trusted it so much that I signed up my homeowners insurance under Jerry as well. All of the agents are amazingly nice and knowledgeable.” —Mary Y.
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Is hurricane insurance required in New Hampshire?
Hurricane insurance may or may not be included in the homeowners policy you purchase. If you live near the coast, it’s highly recommended that you find a policy with hurricane coverage or opt for a supplemental flooding policy to cover damage from a tropical storm.
What is the average cost of homeowners insurance in New Hampshire?
As is the case for most states, the cost of homeowners insurance in New Hampshire varies based on a multitude of factors, but you can expect to pay somewhere around $800 a year, which is less than the national average.
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