New Hampshire Homeowners Insurance Guide
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New Hampshire Homeowners Insurance
Explore New Hampshire Homeowners Insurance State Guides, Laws and Regulations before You Buy Insurance
The Granite State is tucked in the northeast of the U.S., within the New England region, and is most known for its breadth of natural beauty. From tranquil ocean beaches, to densely forested mountains, New Hampshire has it all. All this picturesque scenery is squeezed into one of the smallest states in the country. In fact, New Hampshire has the least amount of seacoast of any coastal state in the U.S., with just 18 miles of it. Another charming feature of New Hampshire is the fact that outdoor enthusiasts are never short of options for activity, regardless of season. You can kayak in the summer, sail in the spring, hike in the fall, and ski in the winter.
Part of New Hampshire’s appeal is not simply its range of scenery, but also its range in climate. The Granite State has four distinct seasons, in which the winter can sometimes be relatively extreme. Couple this with the state having miles of coastland, and property owners in New Hampshire often times must prepare for floods, hurricanes and damage from severe winter storms.
What Does Homeowners and Renters Insurance Cover, and How Much Does it Cost?
Property owners in New Hampshire enjoy favorable homeowners and renters insurance rates. So, although the Granite State suffers from flooding and hurricanes due to its coast, and severe storms due to its climate, these events seldomly result in extreme financial loss. The state’s favorable rates reflect this lack of risk.
Average Homeowners and Renters Insurance Premium
| State | Homeowners | Renters |
| New Hampshire | $972 | $149 |
| USA | $1,211 | $180 |
Source: Insurance Information Institute (2017)
Fortunately, the standard homeowners insurance policy covers loss resulting from wind or snow, and other more normal perils such as fire, theft and vandalism. However, homeowners policies explicitly exclude loss from flooding. As such, property owners in New Hampshire should look to augment their homeowners insurance policies with flood coverage from the National Flood Insurance Program.
Which Property Insurance Carrier Should I Choose?
The homeowners insurance market in New Hampshire is highly competitive. The top five insurance companies in the region control approximately 44% of the market. In addition, only nine percentage points separate the top and fifth insurance companies, as measured by market share. There is also a wide range of carriers represented in the market, from international to regional ones. When searching for the right insurance partner make sure to include a few regional players, as they may be able to craft coverage specific to your property risks. Also, take note of each carriers’ reputation as it relates to paying claims in a timely manner.
Top 5 Home Insurance Carriers in New Hampshire
| Company | Market Share |
| Liberty Mutual | 13.9% |
| State Farm | 9.8% |
| Allstate Corp. | 8.5% |
| USAA Insurance Group | 7.3% |
| Vermont Mutual Insurance Co. | 4.7% |
Source: Insurance Information Institute (2019)
The Graphite State is filled with natural beauty. Picturesque scenes that can be experienced first-hand through hiking the Appalachian Trails, skiing down the White Mountains, or simply driving up and down the routes that line New Hampshire’s rivers and coast. This plentiful beauty is matched by the favorable homeowners and renters insurance rates property owners in the state enjoy.
New Hampshire Regulating Agencies And References
