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What type of insurance do you need?
On average, American homeowners pay $1,173 per year for their home insurance coverage. However, in New Hampshire, the average annual premium is lower at just $941 a year.
Even though the price you are paying for home insurance may seem like a lot of money, having this coverage is important because hazards like severe weather, accidental fires, and property crimes can result in expensive losses for New Hampshire homeowners who are not insured.
Your home insurance policy is designed to cover you against many of the hazards you face as a property owner in New Hampshire. Whether you're facing costs related to a fire, hailstorm, frozen pipes, or a rash of burglaries, you're covered if you have a suitable New Hampshire homeowners insurance policy.
Let’s look at the coverage your New Hampshire policy can provide:
Pays to repair or replace your home and your belongings
Example: Lint build-up in your dryer vent causes a fire and part of your house and many of your personal belongings are destroyed.
Pays for someone else's injuries or property damage when it's your fault
Example: The walkway to your house is icy, and a visitor slips and breaks a bone.
Pays for temporary living expenses when your home is damaged
Example: A severe storm causes a tree to topple onto your house and you need to stay in a hotel temporarily while repairs are made.
We can’t be 100% certain, but in 2016, insurance companies spent more than $153.4 million on home insurance claims in the state of New Hampshire alone. That's a lot of unfortunate events happening to New Hampshire homeowners.
Insurance companies calculate home insurance costs according to how likely it is that something bad will happen. The higher the probability that a damaging event will affect your property, the more expensive your home insurance policy will be. We call these potential damaging events "risks” or “exposures.” Let’s take a look at how risky New Hampshire is compared to the rest of the US.
The good news is that the overall burglary rate in New Hampshire is significantly lower than the national average. This helps to keep insurance rates affordable in this state.
Average number of burglaries per 1,000 homes in the US: 4.69
Average number of burglaries per 1,000 homes in NH: 1.92
Severe weather events, including hailstorms and heavy winds, can wreak havoc on residential properties in this state. Be sure that your home insurance provides all the coverage you need before disaster strikes.
Number of federally declared disasters since 1953: 46
Most common cause of disasters in the state: Severe Storms
Average number of tornadoes per year in the state: 0.8
Amount paid in home insurance claims last year $153,368,000
Average home value in the US: $188,900
Average home value in NH: $251,100
Yes! There are currently 167 independent insurance agents in New Hampshire who are ready to help. Did you know that independent insurance agents can work with several different insurance providers to find you the best rate for coverage? Working with these agents enables you to buy a policy that meets all your coverage needs at a price you can afford.
No single insurance company is “best” for everyone. That is why independent agents compare policies and rates from multiple companies to find you the coverage that is best able to meet your particular needs and budget. Here are some of companies your local independent agent may work with:
National average burglary rate 4.69 per 1,000 homes
National average home value $188,900
National average home insurance cost $1,173 year
|City||Annual insurance cost||Avg. home value||Burglaries / 1,000 homes|