New Hampshire is known for its picturesque beauty, but it also sees storms and harsh weather year-round. This can lead to damage of the property. Though your landlord's insurance will likely protect the building, your tenant's possessions aren't included. They need renters insurance to cover their things.

The Insurance Department in New Hampshire has created a pamphlet about renters insurance and its benefits. You might find it helpful.

Otherwise, today, you will learn about cheap renters insurance in New Hampshire, why it's beneficial to you as the landlord, and what it covers.

Are you ready to learn about New Hampshire renters insurance? Continue reading to determine why you should include it in the lease agreement.

What Is New Hampshire Renters Insurance?

When tenants rent a house, apartment, or condo, they don't think about it getting damaged by smoke, fire, wind, vandalism, and water. Though your insurance protects the building and your property, it doesn't help with the tenant's personal belongings. They need renters insurance for that.

Renters insurance protects the tenant's personal belongings if it's stolen or damaged. Likewise, it will offer liability protection if accidents happen in the rented unit.

However, renters insurance varies based on the company chosen. Some will cover the temporary living expenses after an emergency forces the tenant out of the home.

Overall, it's smart to purchase renters insurance, but tenants rarely do so without being required. You'll learn how you can mandate it later.

Average Cost of Renters Insurance in New Hampshire Per Year

The average renters insurance rate in New Hampshire varies based on the location and size of the rental property. Usually, a basic policy runs $12.48 per month ($149.76/year) to cover liability protection, personal property, and additional living expenses.

It's crucial for tenants to compare rates before they buy cheap renters insurance in New Hampshire. Likewise, they should read through the policy to know what's covered and excluded.

How Much Does New Hampshire Renters Insurance Cost (Based on Popular Cities)?

ValuePenguin shows that the renters insurance rate for Hanover is much cheaper than it is in Windham. Here is a look at the prices tenants might pay for renters insurance in different cities:

  • Windham - $154/year
  • Nashua - $137/year
  • Manchester - $135/year
  • Hanover - $131/year
  • Derry - $141/year
  • Concord - $132/year
  • Bedford - $138/year

Is Renters Insurance Required in New Hampshire?

Many renters wonder: Is renters insurance required? No law says that renters insurance in New Hampshire is mandatory, but it's recommended.

Landlords can require tenants to have renters insurance policies in place before moving in or signing the lease. You'd include it in the lease agreement as a clause, and it's wise to direct the tenant's attention to it beforehand, as well.

What Does Renters Insurance Cover in New Hampshire?

New Hampshire, though small, is prone to earthquakes, floods, wildfires, and tropical storms. Many times, these things aren't covered under a traditional policy. Therefore, tenants may need separate coverage on top of the renters insurance in New Hampshire.

Let's learn what renters insurance in New Hampshire covers:

Personal Property Coverage

Personal property coverage will cover the cost of personal property damage up to the policy limits. Usually, it will specifically name the covered losses; theft, wind, and fire can be part of it.

Medical Payments

If someone gets injured while visiting the tenant, renters insurance offers limited coverage for those medical payments.

Additional Living Expense Coverage

Suppose the rental unit is uninhabitable after a covered loss. The tenant's renters insurance pays for the expenses relating to those extra living expenses, including meals and a hotel.

Personal Liability Coverage

The policy should offer liability protection if someone's property gets damaged or they're injured, and the tenant is to blame. This covers legal expenses, medical payments, and reimbursements for damaged property. Usually, the standard renters insurance policy offers $100,000 for liability coverage.

What Does Renters Insurance in New Hampshire NOT Cover?

The liability and personal property coverage pays for certain things, but it won't protect the tenant from everything.

For example, flood damage isn't covered. If the tenant has a dangerous dog breed, liability coverage from most renters insurance companies won't help.

Likewise, coverage might be limited for any high-value items, including jewelry, expensive collections, and fine art.

Here are a few common exclusions and limits found in a renters policy:

Pests and Bed Bugs

Usually, renters insurance in New Hampshire won't cover the damage costs related to bed bugs, though there are some exceptions. Likewise, rodents are often considered maintenance problems, which aren't covered under a traditional policy.

Floods and Earthquakes

A standard policy probably won't cover flood and earthquake damage. However, some insurers will offer endorsements or add-ons. Some tenants may need to have separate earthquake and flood insurance from another brand if they can't get it through their current policy.

Car Damage and Theft

A renters policy might not cover theft of the car or damage to it. Tenants should have an auto insurance policy that offers comprehensive coverage. However, the belongings inside the vehicle during the break-in or theft will be covered by the renters insurance policy.

Roommate's Property

Renters insurance rarely covers damages to a roommate's property. They must either be listed on the tenant's policy or have their own.

How to Choose the Right Renters Insurance Policy

Choosing between the many renters insurance policies and companies available is difficult. Here are a few tips to offer your tenants:

  • Price - It's always best for tenants to compare renters insurance rates. The cost is affected by many things, including the person's credit rating, coverage limits, and deductible.
  • Discounts - Renters insurance discounts can help tenants lower their annual premiums, especially if they bundle together auto and renters insurance.
  • Coverage - Tenants need enough coverage to replace all of their belongings if they're destroyed or stolen. Look for a great standard option with various add-ons and endorsements to customize coverage.
  • Customer Support - It's time-consuming and stressful to file a renters insurance claim. Tenants should ensure that the insurance company has a dependable customer service team.
  • Technology - Most people want to get quotes online, file claims online, and do everything from a mobile app. This is something tenants should consider when choosing an insurance company.

Available Discounts in New Hampshire

Renters insurance in New Hampshire isn't that expensive, but it's still great to get discounts whenever possible. Different insurers offer varying discount options. Here's a list of the most common ones:

  • Discounts for seniors
  • Bundling discount
  • Automatic payments discount
  • Having home security devices
  • Loyalty discounts
  • Claims-free discount
  • Gated community discount

How Does a Renters Insurance Policy Protect the Landlord or Property Manager?

Renters insurance in New Hampshire is primarily for the tenants, but it does offer benefits to you as the landlord. Let's check them out now:

  • Renters insurance policies will protect you from a lawsuit if the tenant's personal property is damaged inside the building. Though you might have personal liability protection through your landlord's insurance, it probably won't cover the tenant.
  • The tenant could demand that you pay for damages to their property after an accident if they can't cover it. A renters policy will protect their things first before they call on you.
  • Usually, you're more likely to get hit with a damage or lawsuit claim if you don't require renters insurance. This means your insurance premiums might increase, and the provider might even cancel the policy.
  • Most renters insurance companies will cover the tenant if their pet bites someone or damages the property. However, they should check the policy to ensure it's included. If so, you can rent to pet owners without fear.

Top 5 Best Renters Insurance Companies in New Hampshire

Tenants usually want to find the cheapest renters insurance companies, and you can help them do this. Knowing the options for the best renters insurance keeps you in the loop. Here are the top ones:

1. SURE Renters Insurance

SURE Renters Insurance

SURE is one of the best renters insurance companies, and it's backed by Assurant. This stands out as a provider that understands the tenant's needs well.

It offers these coverage options:

  • Personal property coverage
  • Liability coverage
  • Loss of use
  • Identity theft protection
  • Sewage and drain backups
  • Replacement cost coverage

Likewise, SURE integrates with many property management software solutions. Therefore, tenants can get low New Hampshire renters insurance rates, excellent coverage, and upload the insurance documents into the tenant portal.

2. State Farm Renters Insurance

State Farm Renters Insurance

If tenants want the lowest New Hampshire renters insurance rates they can get, State Farm might be a great choice. A policy is about $110 per year, which is $77 less than the national average and $45 less than the state average.

Tenants can find standard policies that cover personal liability, medical payments to others, and damage to personal belongings. Likewise, add-ons are available.

Those who wish to save money can bundle auto and renters insurance together, as well!

3. Amica Renters Insurance

Amica Renters Insurance

While Amica might not offer the cheapest renters insurance coverage, the many discounts available will compensate for that. Overall, the basic coverage offers liability, personal property, and loss of use. There are many add-ons available, including personal property replacement coverage, extended protection for computers and smart devices, and identity fraud coverage.

4. Allstate Renters Insurance

Allstate Renters Insurance

Allstate is an excellent choice for renters insurance in New Hampshire. In fact, it's ideal for seniors because it offers up to 25 percent off if they're retired. Still, renters insurance coverage for younger people might be more expensive.

Likewise, if tenants don't qualify for discounts, the coverage options available aren't much different from State Farm and Amica. Both of those are cheaper. Still, there are agents in 25 New Hampshire cities, and customer service is decent.

5. Travelers Renters Insurance

Travelers Renters Insurance

Travelers is one of the top renters insurance providers! The basic policy includes additional living expenses, personal liability, and personal property coverage.

Overall, Travelers is great for standard renters insurance coverage. Plus, if tenants make improvements after a covered event, they can apply the personal property coverage to the restorations!

What Is DoorLoop?

Knowing how New Hampshire renters insurance can protect you as the landlord (and your tenants) is a great thing. However, you've got much more to consider. You'll probably buy landlord's insurance, but you also have to keep everything organized.

DoorLoop can help landlords of all sizes. This all-in-one property management software works for people managing commercial, residential, and mixed-use portfolios. With it, you'll:

  • Manage your portfolio.
  • Manage your online maintenance requests to avoid calls and texts from tenants.
  • Collect rent on autopilot.
  • Manage your accounting needs.
  • Market vacancies through Trulia and Zillow, and let tenants apply online through your customized and free website.
  • Offer an online tenant portal for tenants.

You'll be ready for anything when DoorLoop is on your side. Learn more about this property management software and schedule your demo today!

Why Work with DoorLoop

DoorLoop helps you require tenants to have a New Hampshire renters insurance policy. They can submit a company themselves, but it's also possible to apply directly through the tenant portal or application process. You'll know exactly which brand they're using and can make decisions based on it.

Learn more about renters insurance on DoorLoop now!

David is the co-founder & CMO of DoorLoop, a best-selling author, legal CLE speaker, and real estate investor. When he's not hanging with his three children, he's writing articles here!

Legal Disclaimer

The information on this website is from public sources, for informational purposes only and not intended for legal or accounting advice. DoorLoop does not guarantee its accuracy and is not liable for any damages or inaccuracies.