Portsmouth Homeowners Insurance

Your Complete Guide to Portsmouth, NH Homeowners Insurance

More than 21,000 people live in Portsmouth, New Hampshire. It is a historic seaport and popular summer tourist destination. While residents and tourists enjoy Portsmouth’s waterfront attractions, snowy winters and wet summers can sometimes wreak havoc on residential properties. If you own a home in Portsmouth, you need a reliable and responsive homeowners insurance policy. Enlist the help of an independent insurance agent in the area who can help you compare quotes and find the best coverage and price for your needs. 

Cost of Homeowners Insurance in Portsmouth, NH

New Hampshire is the 36th most expensive state for home insurance in the US, but the average cost of homeowners coverage in Portsmouth is higher than both the state and national averages. Portsmouth homeowners can save by shopping around for the best rates. 

  • National average yearly premium: $1,173
  • New Hampshire average yearly premium: $941
  • Portsmouth average yearly premium: $1,359

Remember, your homeowners insurance rates will be more or less than the average for your city. If you live in a ZIP code that has a high crime rate or is highly susceptible to natural disasters, you can expect to pay more than someone living in a safer area. Some of the individual factors that insurance companies use to determine rates include:

  • The size, age, and value of your house 
  • Whether the property is your primary residence or a second home
  • The number of stories in your house and whether it has a basement
  • The crime rate and weather risks in your ZIP code
  • Your claims history and credit score
  • The amount of coverage you need and your deductible

Shopping around for the best rates is easy with the help of an independent insurance agent. Independent agents aren’t tied down to one carrier, so they can obtain multiple quotes and help you make an informed choice. 

Burglary Rate in Portsmouth, NH

Portsmouth has a very low home burglary rate compared to the entire state of New Hampshire and the US overall. 

  • Number of burglaries per 1,000 homes in the US: 4.69
  • Number of burglaries per 1,000 homes in New Hampshire: 2.22
  • Number of burglaries per 1,000 homes in Portsmouth: 1.19

All homeowners, even in safe cities, need to take precautions to safeguard their homes from burglaries, break-ins, and vandalism. You can install security lights and cameras, use deadbolt locks, and leave lights on when you are away from home. One of the best deterrents is a home security system. It can keep burglars away and alert you when break-ins are attempted, and may even help you get a discount on your home insurance.  

If you are the victim of a break-in or burglary, your homeowners insurance can help you get back to normal. It will reimburse you for damage to your home as well as stolen or damaged possessions. And your independent insurance agent will be there to help you throughout the claims process. 

Catastrophic Events in New Hampshire

New Hampshire homeowners are not immune to natural disasters that cause significant property damage. 

  • Number of declared disasters in New Hampshire: 51
  • Most common reasons for disasters in the state: Severe Storms and Floods
  • Average amount of property damage per year in New Hampshire: $153,368,000
  • 1 in 15 insured homes has a claim each year

With a reliable homeowners insurance policy, you’ll be able to make repairs to your roof or siding with minimal hassle if you sustain property damage after a storm, or even after a small fire. Keep in mind that flooding is not covered by your home insurance. Portsmouth residents can learn about the importance of flood insurance and should consider purchasing a policy from the National Flood Insurance Program (NFIP). 

Liability Insurance for Portsmouth Homeowners

Homeowners may face claims of negligence at any time. If someone gets hurt on your property or your child or pet causes an injury or property damage, you may need to pay for the injured party’s property repairs or medical bills. What’s more, you could be sued and face extensive legal costs to defend yourself or settle the issue. Your home liability insurance covers the costs of these kinds of lawsuits. It pays for court costs, attorney fees, and even any settlements or judgments that you are required to pay. It covers situations like:

  • A guest getting injured on your property
  • Your pet biting a passerby
  • Your child damaging a neighbor’s home
  • Accusations of slander or libel (e.g., you are accused of slander for something you posted online)

Some Portsmouth residents might want more liability coverage than their home insurance allows. In these cases, a personal umbrella insurance policy offers supplemental liability coverage beyond the limits of your home insurance and car insurance. A local independent insurance agent can help you review your options and compare costs.

Second Home and Vacation Home Insurance

Maybe you own a vacation home on the beach or a condo that you rent out to tourists. If you own more than one house, you need insurance that appropriately covers all of your properties. A house that is not your primary residence has additional risk factors and considerations, so insurance companies may require it to be covered by different types of insurance. 

  • Vacation houses that are periodically unoccupied face particular risks, unlike primary residences. Property damage and break-ins are more likely in unoccupied homes, so these properties may need to be covered by vacant home insurance
  • Owners of rental properties have higher liability risks. If you own a rental property, you might require increased liability coverage but less coverage for the contents of the property. Landlord insurance can help you properly cover your rental property. 

Your local independent agent can help you obtain multiple quotes for your additional properties. You can choose the coverage that best fits your needs.

Why Work with an Independent Insurance Agent?

Independent insurance agents make comparison shopping for Portsmouth home insurance easy. Independent agents work with several different insurance companies, so they can help you find the right coverage for your needs and budget.

Contact a local agent for customized quotes now. 

Sources © 2020, Consumer Agent Portal, LLC. All rights reserved.

http://www.naic.org/prod_serv/AUT-PB-14.pdf
https://www.census.gov
http://www.city-data.com

© 2020, Consumer Agent Portal, LLC. All rights reserved.

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