6 Best Renters Insurance Companies in New Hampshire of 2023

Renters throughout New Hampshire, including Manchester, Nashua, Concord, Derry, and Dover, contend with harsh weather and storms throughout the year, which can damage the property they rent and their belongings. And the Granite state, like all states, is not crime-free; personal property is often at-risk.

Renters insurance in New Hampshire isn’t mandatory, but many landlords specify that renters must carry a renters insurance policy in their rental agreements. Landlords typically include this clause because many renters aren’t aware that the property owner’s insurance doesn’t cover their possessions.

According to PropertyNest research, the average cost of basic renters insurance in New Hampshire is $12.48 a month.

At PropertyNest, we want to be sure that renters in New Hampshire are aware of the best renters insurance companies and the policies they offer. To do that, we’ve compared insurers and have arrived at this “Best Of” list for you.

Compare Renters Insurance in NH

The Best Renters Insurance in New Hampshire

• Allstate – Best for Seniors
• State Farm – Most Affordable Coverage
• Amica – Best for Multiple Discounts
• Travelers – Best for Personal Property Coverage
• Nationwide – Best Optional Add-Ons
• Chubb – Best for High Net Worth Renters

Allstate Renters Insurance: Best for Seniors

For retirees living in New Hampshire, Allstate is an excellent option.

Renters ages 55 and up could receive a discount worth up to 25% from Allstate if they’re not actively seeking full-time employment. Without this discount, Allstate renters insurance costs slightly more than the average cost of renters insurance in New Hampshire.

Allstate provides online quotes, and you can get quotes through an Allstate agent, many of which have offices in New Hampshire communities.

In addition, coverage levels, deductible amounts, and payout limits can be customized to see how your cost changes with different options.

Read a full Allstate renters insurance review.

State Farm: Most Affordable Coverage

Cost-conscious New Hampshire residents love State Farm. A policy from State Farm costs about $110 per year, which is about $45 per year less than the state average and $77 per year less than the average cost of renters insurance in the U.S.

State Farm offers standard renters insurance policies covering property damage, personal liability, and medical payments to others. For those concerned about inflation, add-on inflation protection is available.

Receiving a quote online is simplified by State Farm’s renters insurance checklist and contents calculator, which helps you accurately assess your living arrangements and personal belongings. This helps you get all of the discounts from State Farm you’re eligible for.

Read a full State Farm renters insurance review.

Amica: Best for Multiple Discounts

Amica isn’t the cheapest company in New Hampshire for renters insurance, but its multiple discounts more than compensate for that.

Amica’s Basic coverage covers personal property, liability, and loss of use. Add-ons include identity fraud coverage, extended protection for smart devices and computers, and personal property replacement coverage.

Amica also offers a package called Renters Essentials that is designed for first-time renters. It includes identity theft, liability, and coverage for your TV, computer, smartphone, furniture, jewelry, and clothes.

Renters Essentials also allows you to earn credit ($100 per year for up to five years) to apply towards an Amica homeowners insurance policy if you buy a home in the future.

Read a full Amica renters insurance review.

Travelers: Best for Personal Property Coverage

Travelers renters insurance’s basic coverage is comparable to other insurers selling renters insurance in New Hampshire. Their basic policy includes personal liability, medical payments, and additional living expense coverage if you have to stay in a hotel due to a covered loss.

Travelers renters insurance excels in the area of standard coverage for personal property. For renters who like to make improvements to their apartment or condo, any improvements made that are damaged during a covered event, such as a new wall or floor coverings or fresh paint, can apply up to 10% of their personal property coverage to restore the enhancements they made.

Travelers also offers additional coverage to protect expensive belongings, like jewelry, antiques, and fine art.

Nationwide: Best Optional Add-Ons

Nationwide renters insurance in New Hampshire stands out for its comprehensive basic policy that covers building additions, property improvements, and unauthorized credit card transactions up to the selected amount of coverage.

The basic policy is highly-customizable through a generous number of add-ons, which include:

• Brand new belongings: replaces damaged or stolen items
• Valuables plus: additional coverage for high-value items like jewelry and fine art
• Water backup: protects your property against damage caused by backed-up sewers or drains
• Theft extension: extended coverage for belongings stolen from any motor vehicle, watercraft, or trailer

Chubb: Best for High Net Worth Renters

Chubb is an excellent choice for New Hampshire renters with a high net worth who want increased coverage limits.

Basic renters coverage from Chubb is the industry standard. It includes personal property, liability medical payments, and additional living expense coverage if you cannot live in your rental because of a covered loss.

Chubb renters insurance is sold nationwide, including in New Hampshire. In addition to renters insurance for high net-worth individuals, Chubb offers coverage for classic cars, boats, and yachts.

Is Renters Insurance Mandatory to Rent an Apartment in New Hampshire?

Renters insurance is not mandatory by law in New Hampshire, but it is highly recommended.

Some landlords often require renters to purchase a policy to cover their personal belongings and any liability from accidents that may occur on the property.

What is the Average Cost of Renters Insurance in New Hampshire?

The average cost of renters insurance in New Hampshire can vary depending on the size and location of your rental.

Typically, a basic policy is $12.48 per month and provides coverage for personal belongings, liability protection, and additional living expenses if you are forced to leave your home due to an insured disaster. It is important to shop around and compare prices before purchasing a policy.

Make sure to also read the policy carefully in order to get an accurate understanding of what is covered and what is excluded. Also, be aware that certain types of disasters may not be covered by basic renters insurance policies, so it's best to discuss any potential coverage gaps with your insurer.

What Does Renters Insurance Cover?

Renters insurance in New Hampshire generally provides four types of protection:

• Personal property damage: If your personal property is damaged, renters insurance covers the cost of the damage up to your policy's limits. Covered causes are specifically named in your policy, such as fire, wind, or theft.
• Personal liability: If someone is injured or their property is damaged, and you’re blamed, your policy will cover liability costs, including legal expenses. A standard renters insurance policy includes up to $100,000 in liability coverage.
• Additional living expenses: If your rental becomes uninhabitable due to a covered cause, your renters insurance will pay for expenses above and beyond your ordinary living expenses, such as a hotel and meals if necessary.
• Medical Payments: Limited coverage for medical costs if someone is injured while visiting you.

What are Optional Coverages Available With Renters Insurance?

In addition to the four primary coverages, renters insurance sometimes provides supplementary coverages. These coverages are not always part of the standard coverage. Ask your agent if they are part of your policy or if you can add them.

• Debris removal: Renters insurance will often cover some of the debris removal costs after a covered loss, like a fire or water damage. This is covered under your personal property limits.
• Building additions or alterations: If you've paid for upgrades or modifications to your rental unit, renters insurance may cover damage from a covered event. Coverage is generally limited to a percentage of your personal property coverage limits, such as 15%.
• Credit card and check forgery: Renters insurance may cover losses you suffer resulting from the theft and fraudulent use of credit cards or forgery of checks. Coverage is usually up to a limited amount, such as $1,000.
• Food spoilage: If a power failure in your rental results in refrigerated food loss due to spoilage, renters insurance policies will often cover it under your personal property limits.

What Doesn’t Renters Insurance Cover?

The personal property and liability coverage provided by renters insurance won't protect you from all risks.

For example, property damage due to floods won't be covered, and liability coverage for events related to dangerous dog breeds (Pit Bulls, Dobermans, Rottweilers, etc.) may also be excluded.

Coverage is also usually limited for high-value items like fine art, expensive collections, and jewelry. Here are some common coverage exclusions and limits in renters insurance policies.

Bed bugs and pests

Most renters insurance policies will not cover damage costs associated with bed bugs, with limited exceptions. Along with rodents, they are considered a maintenance issue and not covered under your standard renters policy.

Earthquake and flood damage

Standard renters policies do not cover earthquake or flood damage, though some companies may offer that coverage as an add-on. If you can't get earthquake or flood coverage through your renters insurance policy, you can look into buying a separate flood or earthquake policy.

Car theft or damage

Your renters policy will not cover damage or theft of your car. You will need an auto insurance policy with comprehensive coverage. However, belongings inside your vehicle at the time of the theft or break-in are covered by renters insurance.

Roommate property

Renters insurance generally doesn't cover damage associated with a roommate’s property. To be covered, they need to be listed on the policy.

What is Actual Cash Value vs. Replacement Cost?

Actual Cash Value coverage pays to replace your belongings after deducting depreciation. Replacement Cost coverage pays the full cost of replacing your belongings without subtracting for depreciation.

You may be able to add replacement cost coverage as an endorsement to your renters insurance policy or purchase a policy with only replacement cost coverage.

Conclusion

Here at Property Nest, we believe that every renter in New Hampshire should purchase renters insurance to protect their belongings and provide some peace of mind.

While standard coverage may be sufficient for most renters, we recommend scheduling high-value items and adding flood insurance if you live near the water.

All renters should remember that their landlord’s property insurance does not protect their personal belongings; it only protects the landlord’s property.

Before you buy coverage, we suggest obtaining renters insurance quotes from a minimum of three insurance companies to compare costs, coverage, customer support, and online/mobile resources.

Remember to ask about discounts and take advantage of any available to you to minimize costs.

When collecting quotes and comparing insurers, ask questions about factors that affect your rates, such as different deductibles, policy limits, and available discounts. You can often reduce your coverage by having a higher deductible and applying discounts.

We recommend that you get at least three quotes from different insurers. You can usually get quotes and apply online without working with an agent.

Methodology

We thoroughly researched the state's top renters’ insurance companies and narrowed the list down to those that operated in New Hampshire. We rated them on criteria that included ease of use, ratings, financial strength, customer, and affordability. Read our full in-depth renters insurance methodology.

How We Selected the Best Renters Insurance Companies in New Hampshire

While price is always a consideration, many other factors should be considered when purchasing renters insurance. For New Hampshire, we selected insurers using five essential criteria that we believe indicate which companies are the best able to protect renters.

Price

The cost of renters insurance is affected by many things, including your policy’s deductible, coverage limits, and credit history. Regardless of how much coverage you need, we recognize that the rising cost of renting and inflation make keeping costs down a priority.

In selecting the best insurance companies for renters insurance in New Hampshire, we chose insurers that provide a good value at an affordable price. Several carriers we selected in our analysis as “Best Of” were higher in price than the state average, but their coverage and service were favorable in some respects compared to their competitors.

Because the cost of renters insurance in New Hampshire averages under $200 per year, the price differential was not that substantial between carriers.

Discounts

Renters insurance discounts can help you reduce your annual premium, particularly if you can bundle other products like your car. Protective device discounts were also standard for most insurers we analyzed.

We selected companies that offer multiple homeowners insurance discounts, particularly discounts that apply to most homeowners in New Hampshire, such as having security systems, fire extinguishers, and smoke alarms.

Coverage

To be protected adequately, you need to buy enough coverage to replace your belongings if they’re stolen or destroyed.

For our best renters insurance in New Hampshire, we prioritized insurance companies that provide excellent standard coverage, plus a selection of endorsements and add-ons to help you customize your coverage.

Customer Support

Filing a renters insurance claim can be stressful and time-consuming, and low premiums are not a substitute for the lack of customer support when you need it most.

To make our list, insurers needed strong customer service ratings and reviews, and we selected insurers with multiple support layers, including online customer portals, mobile apps, or 24/7 phone support.

Technology

Technology is playing an increasingly important role in the purchase and service of insurance policies. Many insurers are selling and servicing more policies online and scaling back on the number of agencies they have to reduce costs and meet customer demand for online sales and service.

Because of this, we highlighted companies with up-to-date websites, mobile apps, and online customer support.