New Hampshire Landlord Insurance
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- New Hampshire Landlord Insurance
3 Min Read
From the well-worn paths of the Appalachian Trail to the state’s many colleges and miles of shoreline on the Atlantic Ocean, New Hampshire provides a unique opportunity for landlords to choose from a vast array of properties across the state. No matter where you choose to buy your rental property in the Granite State, you’ll need to protect it with New Hampshire Landlord insurance.
It protects your investment by enrolling you in an insurance policy that helps to repair or rebuild your unit if it’s damaged or destroyed by a covered peril. It helps out with so much more, too! Let’s take a look at everything your new policy covers.
What’s Covered With a New Hampshire Landlord Insurance Policy?
Dwelling
This covers the actual structure of your home and the components that make it, such as the roof, siding, windows, countertops and flooring. Since you’re not the one living in the home and taking care of it full time, the landlord’s dwelling coverage should be equal to or a little more than your home’s actual value.
Other Structures
Depending on the type of property you own, other structures coverage may or may not apply. If you rent out a house, this coverage extends to things like fences, sheds, carports and detached garages, and is typically up to 10 percent of the dwelling amount. However, if you’re renting one or a few units in a condo complex, there’s a good chance you won’t own any of these types of coverage and, therefore, don’t truly need it.
Personal Belongings
If you store on the rental property things like a lawnmower, tools for working on the home or other items that directly help you maintain your rental unit, these items would be covered under the personal belongings portion of your landlord policy. Unfortunately, your tenants’ belongings are not covered.
Landlord Liability
It’s a good idea to maintain adequate landlord liability protection in the event one of your tenants or their guest is injured on the property and you’re held liable. This could happen for a number of reasons, including a broken stair that wasn’t repaired or a faulty fix. This coverage helps to pay for medical bills and legal expenses up to your policy’s limits.
What Are Some Extra New Hampshire Landlord Coverages to Consider?
Landlord Contents: For those New Hampshire landlords who furnish part or all of their rental properties, there’s an optional landlord contents coverage you’ll want to opt in to. This covers the belongings you keep in the unit, like furniture, electronics and appliances.
Construction: If the building codes change or you’re working on renovations, you’ll want to make sure you have coverage for your rental property that’s under construction. This helps mend the money until the home is ready for occupation again.
Loss of Income: If your rental property is hit by a covered peril and your tenants are forced to temporarily move out of the home, you’re not getting a rent payment each month. Luckily, adding loss of income into your New Hampshire landlord insurance policy can help pay you the money you’re losing out on each month until the home is repaired and tenants are able to move back in.
Burglary and Vandalism: If your rental property is broken into and damaged or vandalized, purchasing additional coverage for burglary and vandalism will quickly become your best friend. This can help repair parts of your home that have been damaged or replace your property that was stolen.
What’s the Average Cost of New Hampshire Landlord Insurance?
The average cost of landlord insurance in New Hampshire is among one of the most affordable premiums in the country. At just $950 per year, the average coverage surpasses $200,000 worth of property coverage, $100,000 worth of liability coverage and adequate coverage for loss of income if your tenants are forced to move out temporarily due to a covered peril.
- Average Cost of Landlord Insurance in New Hampshire: $950 per year
Compare and Buy the Best Landlord Insurance in New Hampshire
The best way to compare and buy landlord insurance in New Hampshire is through Clovered’s intuitive online quoting tool. We compile quotes, policies and premium prices from many of the state’s top insurers, so you always get the perfect amount of coverage at the perfect price.
You've worked hard to buy your rental property. Protect it with a custom policy at an affordable price.
The editorial content on Clovered’s website is meant to be informational material and should not be considered legal advice.
