Average Flood Insurance Cost and Coverage in New Hampshire (2023)

Damages caused by natural flooding are not included in homeowners and renters insurance. For this specific coverage, you’ll need to purchase a separate flood insurance policy.

The cost of your flood insurance in New Hampshire is based on factors such as your home’s location, rebuilding expenses and construction materials. Insurance providers also consider your area’s flood risk.

Check a local flood map to see if your home is located in a moderate-risk or high-risk flood zone. Regardless of how flood-prone your area might be, flood insurance can protect against significant expenses caused by flood damage. Just an inch of water can cost you up to $25,000, as reported by the Federal Emergency Management Agency (FEMA).

TABLE OF CONTENTS

• Cost of Flood Insurance in New Hampshire
• Flood Insurance Companies in New Hampshire
• Flood Insurance Coverage
• Flood Insurance Cost Factors in New Hampshire
• Do You Need Flood Insurance?
• New Hampshire Flood Insurance FAQs

In New Hampshire, flood insurance costs approximately $1,109 per year. Individual property risks (like rebuilding cost) and the flood risk of your county influence your premiums. If you live in a moderate- or high-risk flood zone, expect your rates to increase.

Compared to the national rate, flood insurance in New Hampshire costs roughly $342 more. This average might be due to the many flood-prone areas in the state.

MoneyGeek’s research found that Middlesex County has the cheapest premiums ($631 per year), whereas Essex County has the most expensive rates ($14,785 per year), on average. However, we will note that our data for Essex County may be an extreme outlier, as it is based on a limited number of policies in the area.

You can scroll through the table below and see the average cost of flood insurance by county in New Hampshire.

You can purchase a flood insurance policy either from the NFIP or a private insurance company. Private providers typically offer a base policy and an excess policy. The former is similar to an NFIP policy, while the latter adds extra coverage to the base policy.

A private insurance company is ideal for households that are outside an NFIP community or for those who believe that NFIP coverage isn’t adequate.

In New Hampshire, the NFIP also has partner companies that offer flood insurance policies. Browse through the table below for the complete list of NFIP-participating insurance providers.

It’s relatively easy to purchase flood insurance because there aren’t any special requirements. You can talk to your home insurance agent or call the NFIP hotline at 877-336-2627.

We recommend that you purchase a flood insurance policy at your earliest convenience. Generally, the NFIP has a 30-day waiting period, while private providers have a 10-day waiting period. It’s best to call your insurance provider to confirm.

Generally, flood insurance protects against expenses if your home structure or personal items are damaged. We highly suggest you consider flood insurance since an inch of water can cost up to $25,000 in damages.

Flood insurance has its limitations. For example, it doesn’t include coverage for damages to swimming pools, decks, patios, landscaping, cash, cars, paperwork or basement items. If you need flood coverage for your vehicle, it’s best to get comprehensive insurance.

NFIP policyholders can purchase building coverage, which is capped at $250,000. Building coverage pays for the structure’s replacement or repair when your home is damaged by a covered peril.

Flood insurance generally covers the following:

• Foundation walls
• Electrical systems
• Plumbing systems
• Furnaces, central heating and air conditioning
• Built-in appliances
• Permanent carpets
• Built-in furniture

With an NFIP policy, you can get contents coverage up to a limit of $100,000. Similar to building coverage, contents coverage pays for replacing or repairing your belongings.

We compiled a list of personal items that are usually included in flood insurance coverage:

• Clothing
• Furniture
• Electronic equipment
• Washers and dryers
• Artwork

Flood insurance premiums were previously determined by a home’s location on a flood zone map. Now, FEMA has an online tool that reflects a state’s flood risk and possible flood-related expenses.

Since 1996, Rockingham County has had the fewest flooding events (32), while Grafton County experienced the most flooding events (86). According to MoneyGeek’s available cost data, an average flood insurance policy costs $1,147 per year for Grafton County residents and $875 per year for those living in Rockingham County.

As you can see, the increased flood risk in Grafton County results in noticeably higher flood insurance premiums.

FEMA implemented Risk Rating 2.0 in October 2021, a rating system that aims to provide accurate flood insurance rates. Instead of solely focusing on a home’s location on a flood map, Risk Rating 2.0 accounts for individual risk factors like construction type and a home’s distance to bodies of water.

Overall, your location still has a huge impact on your premiums. Scroll through the table below to understand how certain factors affect your flood insurance costs in New Hampshire.

Individuals with government-backed mortgages are required to purchase flood insurance if they live in a moderate- or high-risk flood zone. Even if you live in a low-risk flood zone, we encourage you to purchase flood insurance. It offers an extra layer of protection.

Even without an official disaster declaration, flood insurance providers are required to pay claims. Payments should surpass the federal assistance grant or loan (a maximum of $5,000 per household).

Again, homeowners and renters insurance does not include flood insurance. Thus, it’s important to purchase flood insurance in case your home experiences natural flooding. While it offers protection against unexpected expenses, it also gives you peace of mind.

Learn more about flood insurance in New Hampshire by browsing through MoneyGeek’s answers to commonly asked questions.