Best Homeowners Insurance Agencies in Nashua

Frequently Asked Questions

• Introduction

  Homeowners' insurance is a type of property insurance used by private property owners to protect their home and property from a range of risks and liabilities. It is also called home insurance.
  

  
  

  All homeowners' insurance policies cover the primary home on a property, meaning that most damage from weather, accidents, vandalism, and other events will be at least partially paid for by the insurance company. Many policies also include coverage for other structures, personal property, and some premises liability.

  
  

  It is not required by law that a homeowner purchases insurance for their property. However, if you have a mortgage, the lender will usually make purchasing a homeowners' policy a mandatory part of the loan process. Since the mortgage lender is essentially selling you the home, they require you to protect the investment.
  

• Does a Nashua homeowner's insurance policy cover home-based businesses?

  In Nashua, a standard homeowner's insurance policy does not include protection for home-based businesses, even if those businesses are run from the insured person's residence. People who conduct work or businesses from their homes are legally required to purchase liability insurance. This coverage ensures safeguarding for their businesses, regardless of the locations where these operations occur.

• In Nashua, whose homeowners' insurance should cover the costs of damage caused by a neighbor's tree falling on your property?

  If a windstorm causes your neighbor's tree to fall and cause damage to your Nashua home, your homeowner's insurance will cover the costs. However, if the tree had a disease and your neighbor did nothing about it, you must establish that the disease was the cause of the fall. Your insurer will then seek reimbursement from your neighbor's insurer.

• Can you file homeowners' insurance claims frequently in Nashua?

  Yes, if you pay your premiums on time, you can file homeowners' insurance claims in Nashua on a regular basis. It is important to note, however, that insurance providers monitor the frequency of your claims. This means that if you file multiple claims within a certain timeframe, they may reject your claim or charge you more. As a result, it's best to file a homeowners' claim only when absolutely necessary.

• Why is your Nashua homeowners' insurance getting more expensive?

  The rising cost of building materials is what drives up homeowners' insurance premiums in Nashua. There was a 4.7% increase in 2022, resulting in higher prices for items such as concrete blocks, drywall, and asphalt shingles. Construction labor shortages also contribute to higher insurance premiums. According to the Home Builders Institute, over 300,000 construction-related jobs will be unfilled in 2022. Because insurance companies cover construction costs, they are forced to raise premiums to compensate for financial risks.

• Is service line coverage included in a Nashua homeowners' insurance policy?

  No, service line repair and replacement are not covered by a standard homeowners' insurance policy in Nashua. Residents can, however, supplement their current insurance with coverage for underground service lines and cables. This is especially important for Nashua residents due to the city's harsh winters, which can damage water pipes, gas lines, and power cables. This coverage also includes expenses for landscaping and excavation.

• What determines the price of homeowners insurance premium?

  The premium, or monthly cost, of your homeowners' insurance policy depends on several factors, including the value of your home and amount of coverage you choose. Your credit history and whether the property is in a higher risk area also play a role.