The Best Cheap Homeowners Insurance in New Hampshire

For such a tiny state, New Hampshire is spilling over in natural beauty. The autumn views are breathtaking, and the state is home to some of the best winter sports in the nation.

So, it’s only natural for these homeowners to want to protect their properties. A home insurance policy is the best safety net you can get to protect your home and belongings.

We break down what you need to know about the state’s average rates, laws, how to find the rates you need, and much more.

For $300,000 in dwelling coverage, the average homeowners insurance in New Hampshire cost is about $1,001 annually. New Hampshire homeowners insurance is relatively affordable, with an average cost much lower than most states. 

Regardless of how much coverage you need, you can likely get homeowners insurance for around $1,000 a year, which isn’t so easy in many other states in the northeast. For instance, average rates in Massachusetts and New York are both much more expensive. In fact, some measures suggest that New Hampshire is the second least expensive state for home insurance.

Look at the table below for average New Hampshire home insurance rates for different coverage amounts.

As you can see from the numbers above, average premiums are quite below average in the Granite State. While the average rates may be below average, some people may still struggle to afford a policy, as the state has seen significant hikes in homeowners insurance premiums each year for the last five years. 

The best home insurance in New Hampshire can be found by comparing policies to find the best coverage for you at the right price. It’s hard to recommend a general best option since everyone’s insurance needs and personal situations differ.

Although the price of home insurance varies depending on your location, and your coverage limits will vary based on your values, the coverage you receive in a standard homeowners insurance policy, formally known as the HO-3 form, should remain constant.

The average homeowners insurance in New Hampshire is broken down into the following coverage areas:

Coverage A: Dwelling — Dwelling coverage financially protects the structure of your house. This includes the roof, walls, floor, patios, and more. Dwelling coverage also accounts for permanently attached fixtures of your home, like your air conditioner, wiring, and plumbing.

For many, dwelling coverage may be the first coverage that comes to mind when you think of a home insurance plan. The amount of dwelling coverage you need is based on the replacement cost of your home.

Coverage B: Other Structures — Other structures coverage covers features on your property that aren’t attached to your home. These include fences, gazebos, sheds, detached garages, pools, and more. Your other structures coverage limit is typically 10% of your dwelling coverage.

Coverage C: Personal Property — Personal property coverage safeguards your belongings. If your furniture, clothes, electronics, tools, jewelry, etc., are damaged by a covered peril or stolen, your personal property coverage will kick in.

A common personal property coverage limit is 50% of your dwelling coverage, but you can easily adjust this depending on how much stuff you have. You can also choose if you want replacement cost or actual cash value protection. Remember, raising this limit can impede your ability to get cheap homeowners insurance in New Hampshire.

Coverage D: Loss of Use — Loss of use coverage applies if you’ve been forced to move out of your home after your property suffers covered damage. Your insurance provider can pay for temporary lodging, food, gas, and more through loss of use coverage while they repair your home. Common loss of use limits are around 20% to 30% of your dwelling coverage limit.

Coverage E: Personal Liability — Personal liability coverage is designated to protect your finances if someone suffers an injury for which you’re found liable. Your liability coverage can cover the injured party’s medical expenses and your legal fees if they take you to court.

Coverage F: Medical Payments — Medical payments coverage can cover minor injuries someone suffers on or around your property. It’s like liability coverage on a smaller scale. Liability limits are often in the hundreds of thousands of dollars, while medical payments limits are in the thousands of dollars.

While home insurance isn’t required by law, if you’ve financed your home with a mortgage, your lender will require you to have home insurance for the life of your loan.

If you don’t get home insurance on your own, your lender will force-place coverage on you. Force-placed insurance is more expensive and less comprehensive than standard home insurance, so it’s in your best interest to get and maintain your own house insurance in New Hampshire.

To get cheap home insurance in New Hampshire, you’ll need to compare policies from several insurers when shopping for coverage. Beyond getting quotes online, you may also want to contact a few companies to hear their customer service. You can also read online reviews, and inspect their financial strength through Demotech, A & M Best, or another rating agency.

Some companies will be better for someone with a history of claims. Some companies have the best home and auto insurance in New Hampshire for those who want to bundle their home coverage with their car and RV policies. Still, some homeowners insurance companies will be better for someone with a new house versus someone with an old home. You need to shop around.

Premiums are a chief concern of any potential policyholder. Look at our table below to see some carriers with affordable home insurance in New Hampshire.

The highest premiums reflected in the table above came from Progressive home insurance in New Hampshire, averaging at about 20% above the state’s average rate. Alternatively, it seems that Vermont Mutual offers the lowest average rates, followed by Travelers and Allstate homeowners insurance in New Hampshire. 

Consider including some lesser-known companies when shopping for quotes, like Vermont Mutual, which seems to be one of the best home insurance insurance companies in New Hampshire, from the data shown above. See if there are any potential differences due to their market size, specialty, or something else. Sometimes, regional insurers have different offerings than larger, national insurers. 

The largest national insurers in New Hampshire are:

While some of these insurers aren’t represented in the table above, they hold a significant number of policies in the Granite State. For example, Liberty Mutual in New Hampshire is popular among homeowners, as is USAA for those affiliated with the military. 

Before giving you coverage, New Hampshire home insurance providers need to make sure offering you a policy is a financially viable decision on their end. They accurately assess your risk and determine how much to charge through underwriting. 

To successfully underwrite, an insurance company in New Hampshire will look at many factors that affect your premiums, some of the most significant ones being:

Despite its tiny Atlantic coastline, New Hampshire can experience effects from tropical storms and hurricanes from time to time, like much of New England. Residents can also experience serious snow and wind from mighty nor’easters. 

Insurers account for your risk of property damage from these occurrences, and heightened risk can increase your premiums. As a result, the cheapest home insurance in New Hampshire likely won’t be available to those on the coastline or in flood zones. 

House insurance costs in New Hampshire for old homes may be higher than those for newer ones. Insurers are wary of older houses because they’re more likely to have issues that lead to claims. Lesser resilience to severe weather, older roofs that can leak or fail, and greater chances of ventilation, plumbing, mold, and other issues raise red flags. 

The construction style of your house influences your average home insurance cost, too. Frame homes may have higher rates than masonry houses because they’re less sturdy and more prone to fire damage. 

Certain features on your property can raise your rates, such as pools, wood stoves, and trampolines. Similarly, if you’re looking for secondary home insurance in New Hampshire, your rates may be higher because it’s risky to leave a house, such as a second residence, unoccupied for long periods of time.

Alternatively, centrally monitored security systems, deadbolt locks, and wind mitigation measures may lower your premiums.

Since flooding isn’t covered by a standard homeowners insurance policy, it’s imperative for homeowners in flood zones or areas prone to flooding to bind a separate flood insurance policy. Coastal home flood insurance in New Hampshire is especially necessary, as the state can be at risk for particularly harsh winter storms and effects of hurricanes off the Atlantic.

Getting a flood insurance policy is simple. You can either bind through the National Flood Insurance Program (NFIP) or a private insurer, which we can help you find here at Clovered.

Mobile and manufactured homes are common dwellings in New Hampshire. They’re a low-cost way of enjoying the state’s natural beauty, but they need protection nonetheless. Instead of a standard home insurance policy, you need a specific policy to cover your mobile home.

The most common form of homeowners insurance is the HO-3 policy, with rates represented by the numbers above. Mobile and manufactured homes require HO-7 policies. They are similar but contain a few stipulations specific to mobile or manufactured houses.

Fortunately, mobile and manufactured home insurance in New Hampshire is often cheaper than HO-3 policies due to lower replacement costs. However, there may be a few more restrictions to getting a policy, such as age or construction guidelines. 

Agents can help you find the right coverage, whether you’re looking for vacation home insurance in New Hampshire or a standard policy. There are two types of agents: captive and independent. Both will help you find a policy, but one may have more options for you than another.

Captive agents will shop only one carrier or company, while an independent insurance agent will compare options from several providers to find the best policy for you. Clovered is staffed by a team of licensed, independent insurance agents, which enables us to find you a policy from one of our many partners. We work with some of the best companies to help you buy homeowners insurance in New Hampshire.

Getting New Hampshire home insurance quotes is easy with Clovered. You can get a quote entirely online and compare your options with several providers.

If you have questions or need any help along the way, our team of licensed agents would love to assist you. We’re available by phone at 833-255-4117 during business hours, or you can email us at agent@clovered.com. 

We partner with providers of high-value home insurance in New Hampshire so you can get the best policy for your needs. We’ve helped over 30,000 policyholders find coverage, and we’d be happy to help you, too.