NH Homeowner and Auto Cost

Personal Lines Premium Comparison Survey

The New Hampshire Insurance Department (NHID) is providing this information to consumers to allow them to do some basic comparison shopping before making their decision to purchase either a Homeowner’s or Personal Automobile insurance policy. A review of the exhibits included here on the Web site will demonstrate that premiums may vary widely between insurance carriers. The NHID has based the premiums on these exhibits on premium values provided by the insurance carriers for several different hypothetical risk situations, evaluated in a group of nine different geographic territories from around the state. The companies shown on the exhibits are the top 35 companies by premium volume for the latest complete calendar year available. The consumer should keep in mind that each of these premiums represent the pricing for one example and it is unlikely that the price that the consumer will receive will match exactly, but will vary based on his/her actual risk characteristics.

Please remember, price should be only one consideration in the decision to purchase an insurance policy. The consumer should also consider coverage levels and offerings, the service(s) the insurance company provides, whether or not to use an independent agent or look for a company that sells directly to the consumer, whether to look for a company that sells over the internet, how the company handles claims, whether or not the insurance company uses the consumer’s credit history in either their underwriting or pricing, and any other considerations of interest to the consumer.

As referenced above, today many insurance companies use information from the consumer’s credit file to develop an ‘insurance credit score.’ (The premium comparisons on this Web site assume the best insurance score.) This insurance credit score may be used in underwriting or rating your insurance policy as long as there is statistical/actuarial justification filed with, and approved by, the Insurance Department. For further information on the use of credit in personal insurance, please follow this link to Automobile and Vehicle Insurance.