New Hampshire Home Insurance

In a state where for many residents their home is their most valuable asset and investment, it pays to have a good homeowners insurance policy. The Simple Dollar has put together a wealth of information on home insurance in New Hampshire, as well as details on renters insurance, and ways for readers to compare premiums with neighboring states and the U.S. average. Read on to learn more about how home insurance works in New Hampshire.

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Stats in Your State

Gaining an appreciation and understanding for what affects the cost of home insurance is easy with the following graphs and data. Numerous factors affect the price of home insurance, including home sales and disaster claims, so we’ve listed these variables in the graphs below.

Homeowner Insurance Premiums

Since 1999, New Hampshire home insurance rates have stayed roughly $100 to $120 below the U.S. average premiums. This is due in no small part to the decline of the paper and logging industries, which have contributed to job losses and falling real estate values.

Renter Insurance Premiums

Renters premiums in New Hampshire have remained well below the national average throughout the 2000’s, with rates as low as $30 less than the U.S. average. These averages indicate a significant economic difference and lower property values throughout the state.

Existing Home Sales

Like much of the rest of the country, New Hampshire’s housing market boomed in the mid-2000’s, before declining in the latter half of the decade leading up to the housing crash in 2008. While New Hampshire’s market swings have not been as drastic as the rest of the country, the state still suffered along with the rest of the country. Information for the years of 2004-2007 were unavailable.

Flood Insurance in Region

Compared with its New England neighbors, New Hampshire has suffered relatively few flood damage claims. Between October 2011 and September 2012, only 170 residents claimed flood damage for a total of roughly $3.4 million in damages.

Homes Built

New Hampshire’s history in the New England region is reflected in the graph below, which illustrates a significant portion of home development prior to World War II. The 1970s and 1980s also saw huge periods of growth, followed by a severe decline in the mid 2000’s with the collapse of the housing industry and decline of industrial sectors.

Rules in Your State

While the financial and corporate structures of insurers are highly regulated in most states, New Hampshire, like most states, has relatively few statutes applying to consumers and their rights when it comes to insurance claims. The links below direct readers to the insurance statutes that most apply to insurance claims and disputes.

Unfair Insurance Trade Practices in New Hampshire

Here you’ll find the statute the addresses unfair trade practices in general, and here you can see the specific acts and practices which are prohibited in New Hampshire.

Representatives & Resources in Your State

The links below provide jumping off points for readers to learn more about different types of home insurance in New Hampshire and to reach out to local government for support on issues and disputes.

New Hampshire Insurance Department
21 South Fruit Street, Suite 14
Concord, NH 03301
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Contact Page
Consumer Complaint Resource
Property and Casualty Insurance Information
The Insurance Department provides useful information on property and casualty claims, which can arise out of car accidents or homeowners claims.

Federal Emergency Management Administration: Region 1
New Hampshire suffers from relatively few major disaster threats when compared with its neighboring states, yet still is exposed to hurricane risk on its coastline and nearby areas. Use the above link to contact the regional FEMA offices for support or information on disaster relief.