New Hampshire Renters Insurance
Whether you are a professional renting an entire house in Bedford, NH or are a student renting a small apartment in Manchester, you need a NH renters insurance policy. Why? What if you came home to find every item you own completely destroyed? Could you afford to replace everything on your own?
Why You Can't Afford NOT To Have NH Renters Insurance!
As a tenant, you face a greater risk than the average homeowner because you do not completely control your home. What if the electrical panel hasn't been updated in decades, or the tenant in the unit next to yours smokes or uses space heaters as a primary heat source? If you rent, there are things out of your control, but one thing isn't - protecting yourself.
Maybe you assume that your landlord's insurance would cover your personal property in a claim. This is not true. Your landlord carries the insurance for the building and any of the property they own inside the apartment. As they do not own your property, they cannot insure it.
What does a NH Tenants Insurance Cover?
A NH Tenants policy typically covers your personal property like:
- personal computer
- small appliances
The minimum amount of coverage usually starts between $15,000 and $20,000 and goes up from there. To figure out how much you need, think about what you own and how much it would cost to replace everything. That is how much coverage you should have on your renters policy.
Renters insurance also covers items like guns, jewelry, silver, and cash, but with a severe limitations. For more information speak with your insurance professional.
A renters policy also provides coverage in case you have to move from your home because of damage caused by a covered loss. It may also provide you with liability protection in case you are personally sued. Don't think this is likely? Do you own a dog, have social gatherings or have anyone deliver items to your apartment? These common activities, plus thousands of other scenarios, could make you defend yourself in a lawsuit. If you have a renters policy, not only would your personal liability be covered (assuming activity is not specifically excluded in the policy) but so would your defense costs!
How Much Does NH Renters Insurance Cost?
For approximately $200 a renter can purchase a basic tenant insurance policy in New Hampshire to cover most of their property. Rates do vary based on the amount of coverage wanted, where the home is located, and for most insurance companies, your credit rating. For information about how credit score impact premium, read What Does My Credit Score Have to do with What I Pay for Insurance, found on the HPM Insurance blog.
$200 is not much when you would consider how much it would cost to replace everything you own, cover your personal liability, as well as additional living expenses and not to mention provide peace-of-mind.
At HPM Insurance, we have had tenants of landlords we insure come in asking, if not begging, if their personal belongings are covered by the landlords policy after a major loss. It is extremely difficult to tell them no, and even worse when realized how inexpensive a policy would have been.
Get a Renters Insurance Quote Today from HPM Insurance!
Renters insurance can protect all that you have worked for and give you peace-of-mind. With so much out of your control, know that you can control a bit your future should you need it. Don't wait until after a catastrophe happens, do it now. You will be happy you did.