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New Hampshire Home Insurance

top-homeowners-coverageWith an average annual rate of $905, the cost of New Hampshire homeowners insurance is less than the national rate, which is approximately $1,132 per year. New Hampshire is the 36th most expensive US state for purchasing home insurance. Over 70 percent of homes in New Hampshire are owner-occupied, which exceeds the national average of 63 percent. Thirty-two percent of mortgaged homeowners spend 30 percent or more of their annual income on costs associated with home ownership; nationwide, New Hampshire ranks 10th in this category.

New Hampshire home insurance rates vary based on geographic location, so where you live plays a role in determining your annual premium rates. In general, living in southern New Hampshire is less expensive than living farther north. Living in or close to one of New Hampshire's major cities can save money on your home insurance policy. In addition to location, the age of your house can affect your insurance rates. As a general rules, older homes are more expensive to insure than newer homes.

Home insurance conceptWhen choosing an insurance provider, there are other factors that may lower your premium rate. Some companies offer discounts if you bundle your insurance with another policy, such as auto insurance. You may also find that a company will reward you by switching to their policy from a competitor before your existing insurance expires. Having a home outfitted with safety features, including smoke alarms and burglary systems, can reduce your premium rates. If you are moving into a new home or recently made improvements to an older home, ask about any potential discounts for having a new or renovated structure. Some New Hampshire insurance companies offer better rates for homeowner insurance shoppers who have a claim-free history. When comparing plans, it is a good idea to have your employer's insurance information on hand. You might get a lower premium by purchasing homeowners insurance through the same insurance company that your employer has. New Hampshire residents may also receive incentives for having LEED certified "green" homes, which can reduce premium rates by up to 5 percent.

Statewide, your rates may be affected by the type of structure in which you reside. Annual premium rates vary in New Hampshire depending on whether you live in a single-family home, a mobile home, or a farm or ranch. Some companies offer additional add-on coverage for specific risks associated with certain residential types, such as working farms and ranches. Your premium rates will cost more if you have an all-event type of coverage, which protects your home against loss in all situations, as opposed to an event-specific policy that compensates for damage based on loss for a specific event, such as fire or wind and hail damage.

Unlike some states, New Hampshire insurance providers do not provide homeowners insurance that covers damage from flooding. This is an important factor to consider when shopping for insurance, as you may need to buy additional protection if you are in a flood-prone area. This supplemental insurance is offered at the federal level.