Manchester has been nationally recognized as one of the best, most affordable places to live in the U.S. CNNMoney.com rated the city as 13th best location for living and launching a business. Kiplinger rated the city as the second most tax-friendly location and Forbes claimed that Manchester was the number 1 best cheap place to live. Sounds like Manchester has a lot going for it so it’s no wonder that over 100,000 people call the region home. Whether you own a condo, townhome, or detached home, make sure you have Manchester, NH homeowners insurance.
Number of Catastrophes in New Hampshire and the US
- National number of catastrophes: 19,033
- Number of catastrophes in New Hampshire: 95
- National number of tornadoes: 1,233
- Number of tornadoes in New Hampshire: 1
- National property damage from weather: $5,511,270,000
- Property damage from weather in New Hampshire: $3,770,000
Number of Thefts in New Hampshire:
- National number for burglaries: 37,814
- New Hampshire number of burglaries: 4,936
The Importance of Manchester Homeowners Insurance
If you purchase a home using a lender, it’s likely the lender will require that you obtain homeowners insurance, but even if you pay for your house with cash, purchasing home insurance is a good idea. If your home is damaged or completely lost, insurance helps you repair or rebuild. There are also other advantages to having a comprehensive Manchester homeowners insurance policy.
Six Parts of a Manchester Homeowners Insurance Policy
At first glance, a homeowner policy can seem complicated. If you break it down into the six parts of coverage, it becomes less overwhelming and easier to analyze. Look for exclusions and make sure that the coverage limits are personalized to your situation. Otherwise, you could find that you don’t have as much coverage as you need.
- Coverage A) Protecting Your Home: Insuring the main structure of your residence is one of the main purposes of insurance. Insure your home at replacement value. It will cost more, but if your house needs to be rebuilt, you’re covered. If you make upgrades to your home, let your insurance company know. Flooding isn’t covered and neither is normal wear and tear, but if a tree branch falls on your house, call your insurance company.
- Coverage B) Protecting Detached Structures: If you have a pool, garage, or shed, this portion of your policy insures these buildings at a certain percentage of your home value.
- Coverage C) Protecting Personal Property: This portion protects your valuables if stolen or destroyed. A certain amount of protection is attributed to your personal property when you purchase your policy, but you may need more.
- Coverage D) Protecting Liability: If you cause an accident, this portion of your policy allows the injured party to file a claim with your insurance company to seek reparations. If the claim amount isn’t approved or doesn’t satisfy the injured party, you could find yourself in court. At that point, you’ll be appointed a lawyer. If you end up owing a settlement, liability benefits can help pay but only if you have enough coverage.
- Coverage E) Protecting Visitors: Accidents happen and sometimes, they happen on your property. If someone needs medical attention and expects you to pay for it, medical payments protection will cover you.
Since you’re in your home for long periods of time, the chance of something happening is very high. The only protection you have is your Manchester homeowners insurance. That’s why finding the right policy is so important. You can compare policies and Manchester homeowners insurance quotes all day and still not find the right one. Or, you can contact an agent. If you really want a policy customized for your personalized needs, let an independent agent in our network help you.