New Hampshire Hurricane Insurance
Find the right hurricane insurance policy for you.
Written by
Ann Herro has been writing about insurance and employee benefits for over 15 years. She has covered topics as easy as insuring a car, and as difficult as transparency in healthcare costs.
Although New Hampshire, also known as the Granite State, is small, it still enjoys a thriving coastline. Whether you visit during the summer or the winter, the coast is a relaxing place for residents and tourists alike. There’s history surrounding the coastline as well. Fort Stark and Fort Constitution hail from the Revolutionary War period, so protecting the coast is synonymous with protecting history. Any state that lies along the ocean is vulnerable to hurricanes, and NH is no exception. The state attempts to protect local landmarks during natural disasters. Protect your home during the next hurricane with New Hampshire hurricane insurance.
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Facts About Hurricanes in NH
- The Great New England Hurricane of 1938 is the worst in state history.
- It caused $22 million in damage and killed 13 people.
- The state doesn’t have a building code that sets a standard for wind-resistant structures.
- Hurricane Bob caused $2.5 million worth of damage in 1991.
The National Flood Insurance Program (NFIP)
The NFIP works with private insurance companies to provide flood insurance protection to homeowners, businesses, and renters to cover damage that results from flash floods, hurricanes winter storms, and heavy rains. FEMA administers the NFIP. Thus, FEMA sets the premiums. Several factors affect the premium rates, including the home’s construction type, the land and the location of the home within the flood plain.
What Does Flood Insurance Cover?
Knowing what your policy does and doesn’t cover is the key to having comprehensive insurance. These are the main types of flood insurance coverage you can get:
- General property: This insurance can cover five or more family residential buildings and non-residential buildings.
- Residential condominium building association: This insurance covers condominiums and townhomes.
- Standard flood insurance – dwelling: This is the most common form of coverage. This type of insurance insures up to four-family residential buildings and single-family dwelling units in a condo/townhouse building.
For standard dwelling coverage, you have two options:
- Building property coverage - up to $250,000
- Personal property coverage - up to $100,000
These two combined coverage types cover most things in your home, with some exceptions. For example, the combined coverage does not reimburse for damage to most cars and ATVs, any belongings located outside of the building, precious metals or stock certificates.
Multi-story home coverage could be more complicated depending on your location in a flood zone and the age of your home. Basements, crawlspaces, and walkout basements have limited coverage, no matter the age or type of home you have. If your home has any of these items, make sure to ask your insurance agent how you can protect your items from flood damage. For example, even if you carry both building property and personal property coverage, you may not have any insurance protection for the following items in your basement:
- Personal items, like clothes, electronics and furniture
- Non-drywall walls or ceilings
- Carpeting
- Paneling
- Bookcases and built-in units
- Window treatments
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A flood insurance policy won't ever pay out any more than the exact amount of the policy (i.e. never more than $250,000 for structural damage). You can choose to buy building property flood insurance at replacement cost value (RCV) or actual cash value (ACV). You can only buy personal property flood insurance at ACV coverage amounts. These two types of reimbursement generally break down this way:
- Replacement cost value: The cost to replace damaged items, without taking into account depreciation over time
- Actual cash value: The cost to replace items at the time of the loss, taking into account depreciation
Know the Effects of a Hurricane Strike
Even if you don’t live on the coast, you can still feel the effects of a large storm no matter where in the state you live. While many hurricanes tend to do the most damage in the Gulf of Mexico or the Southeastern U.S. coastline, Hurricane Sandy recently proved that large storms can form in the North as well. Fortunately, protecting yourself from a hurricane won’t be as costly as in other states more prone to damage. Just don’t wait until the storm is days away to find coverage. Some policies can include waiting periods that last much longer than the time it takes for a hurricane to strike. A hurricane contains two very destructive forces:
- Wind: A tropical storm’s wind may not be enough to cause damage, but a Category 5 storm has winds of more than 150 mph. While your homeowners policy will cover wind damage, make sure it covers the total damage expense. Insure your home at replacement cost, which also assists you with making large-scale repairs. Anything less and you’ll likely exceed your coverage limit.
- Water: New Hampshire has many lakes and streams that can rise quickly with a hurricane downpour. Protection from floods isn’t included in your homeowners policy and isn’t a legal requirement. Flood insurance is the only way to bounce back from significant water damage.
How to Find New Hampshire Hurricane Insurance
Whether you’re looking to update your current policy or find a new insurance company, an independent agent can help you with your search. Independent agents aren’t bound to one insurance company, which means you have access to multiple policies and New Hampshire hurricane insurance quotes. On the other hand, “captive agents” can only show you what one insurance company offers. When protecting yourself against a natural disaster, you want the best you can afford. Work with an agent and you will not only get reliable New Hampshire hurricane insurance coverage, but you also get a professional insurance guide.
To get the policy you need, contact an independent agent today.