New Hampshire
What is influencing insurance rates in New Hampshire? – NH Business Review
Home and car insurance rates have risen nationally due to inflation, extreme weather events and litigation
The bad news is that home insurance rates have risen nationally by an average 34% between 2018 and 2023. The good news is that the rate of increase in New Hampshire was 17.9%.
Car insurance rates are also climbing — 36% nationwide since January 2020. While rates have been climbing in the Granite State, the average cost here is among the lowest in the country.
But it still begs the question: Why are insurance rates climbing, even in New Hampshire?
Some insight was offered by a Property & Casualty Markets Symposium hosted by the New Hampshire Insurance Department. Inflation, weather events and litigation were the three primary reasons for property insurance increases, according to information offered at the March symposium held in Concord.
Property and casualty insurance includes many forms of coverage, usually associated with homeowners insurance, auto insurance and renters insurance.
Insurance Commissioner D.J. Bettencourt said he convened the symposium “to help us understand what’s going on and to help the consumer understand why they’re experiencing what they’re experiencing.”
“One of the most frequent questions that we get is: Why are my premiums going up? Why am I not able to get access to coverage that I’ve been able to get access to before? And of course, all of that speaks to the dynamics of this interesting market that we’re experiencing right now,” said Bettencourt.
The featured presenter at the symposium was Robert Hartwig. He is a clinical associate professor of finance in the Moore School of Business at the University of South Carolina, and he serves on the Federal Reserve Board’s insurance policy advisory committee.
A frequent presenter on issues related to insurance markets, Hartwig cited inflation as a major source of the increases to policyholders. As costs have risen for insurances those costs are passed on to the consumer, according to Hartwig.
For insurance underwriters, 2023 was the worst year since 2017 and the second worst year since 2011.
“One of the major issues for the industry — and that is really the principal driver in many instances — is the issue of inflation which is still working its way, kind of a pig through a python type of situation,” said Hartwig.
He noted that the Consumer Price Index since the end of the COVID pandemic has risen 19% for consumers, but, for insurers, their costs have increased because of the higher costs (as much as 41%) for plumbers, contractors, laborers and building materials.
“Whereas inflation has subsided in the broader economy, it’s at its peak in the property-casualty insurance industry today at least in terms of passing it through to consumers,” said Hartwig.
For every $100 paid in premiums in 2023, $101 was paid out to cover insured losses, according to Hartwig. “That’s a prescription for a pretty bad year,” he said.
Data from Realtor.com shows that, between 2018 and 2023, the average cost of homeowners insurance in New Hampshire has increased 17.9%. Nationally, the increase was 33.8%, with some of the highest increases in Texas (59.9%), Colorado (57.9%), Arizona (52.9%), Utah (51.9%) and Nebraska (48.6%).
Bankrate says the current average annual premium for homeowners insurance in the state is $973, based on a home valued at $300,000. It notes that many variables contribute to the cost of insurance and that specialized coverage (for flooding, for instance) is a separate cost.
Car insurance rates have climbed 36% since January 2020, according to consumer price data from the U.S. Bureau of Labor Statistics. Within the past year alone, rates for car insurance have soared more than 20%, the data shows.
Bankrate says the average cost of car insurance in the U.S. is $2,311 per year for a full coverage policy, while New Hampshire drivers pay an average of $1,660 annually. CarInsurance.com puts the cost as the eighth lowest in the country.
As with homeowners insurance, the cost of insuring a vehicle in New Hampshire depends on many, many factors, such as age, driving record, where the car is kept, even a driver’s credit rating.
In terms of homeowners insurance, Realtor.com cites climate change–affected weather as a primary reason for increases everywhere.
“Climate risk is a big deal. It can impact home values, insurance costs and the overall stability of a housing market,” said Jiayi Xu, economist at Realtor.com. “The issues are whether you can get access to affordable insurance and how much the costs will increase. In areas with high climate risk and lower home prices, people are tolerating these risks in exchange for more affordable housing.”
In his presentation, Hartwig did not refer to climate change. Rather, he used terms such as “wild weather” and “disaster” to describe an additional reason after inflation for the rise in insurance costs. He also used the term “cats,” insurance shorthand for catastrophic events, such as hurricanes, floods, wildfires, tornados and the like.
“The Northeast is one area where you’ve not had some of the major cats that we’ve seen in some other parts of the country. You’ve had some wild weather, including floods and flooding of vehicles and that can contribute certainly to some of the increases we’ve seen here,” he said.
The U.S. Environmental Protection Agency (EPA) has a ranking of states and counties using what is called the Climate Resilience Screening Index (CRSI). It measures the resilience of U.S. counties and communities to natural disasters.
The national average index is 4.213. New Hampshire comes in with a higher overall resiliency at 9.154. Within New England, Maine (17.971) and Vermont (12.848) are higher, Massachusetts (7.889), Connecticut (3.702) and Rhode Island (3.533) are lower.
The greatest risk for New Hampshire is flooding, related to heavy rain and/or melting snow events and to flooding along the coast as sea level rise continues.
Hartwig talked about the E&S markets. Excess and Surplus (E&S) is a specialty market that offers insurance coverage for risks that standard insurance companies don’t for properties in, say, wildfire zones, high crime areas and along the coast. These E&S market coverages are more expensive because of the nature of the risks involved.
“A lot of this is being generated in places like Florida, California, Texas, Colorado, places like that, and some coastal areas,” said Hartwig. “I don’t think New Hampshire accounts for very much of this, but you may have observed yourself some migration of premiums in New Hampshire to the E&S market.”
Some major insurers are leaving high-risk states. Allstate and State Farm, for example, said in 2022 that they’d stopped writing new policies in California because of the wildfire risk. In April, just weeks before the start of hurricane season, thousands of Floridians lost their ASI-Progressive home insurance coverage.
The New Hampshire Insurance Department says no such incidents of homeowners being dropped by their insurance companies have been reported to it.
As for the E&S market cited by Hartwig, the Insurance Department says it represents less than 1% of total market share in the Granite State. The activity in that market has been largely related to flood insurance, according to the Insurance Department.
The third factor cited by Hartwig was litigation payouts by insurance companies, which he described as “a tax that has to be passed along.”
Hartwig cited a number of reasons for litigation and large awards: “Increasing propensity to sue,” he said, “large jury awards, courts increasingly favoring plaintiffs, general distrust of large corporations that they feel deserve to be punished, third-party litigation funding — you maybe heard you can invest in lawsuits nowadays, aggressive plaintiff bar advertising.”
Another factor in play, as it affects auto rates in New Hampshire, is the greater degree of claims coming from reckless and dangerous driving incidents.
Bettencourt was among a group on June 4 that sought to raise awareness about the dangers of aggressive and reckless driving, driving at excessive speeds, and other hazardous behaviors on New Hampshire’s roadways.
The event was held at the New Hampshire Motor Speedway in Loudon and included representatives from the insurance department, the NH Department of Safety, NH State Police, American Automobile Association of Northern New England, the speedway, the New Hampshire Motorcyclists’ Rights Organization, and the New Hampshire Automobile Dealers Association.
“The connection between reckless driving habits and escalating auto insurance rates is very, very clear. Engaging in speeding or distracted driving not only jeopardizes your own safety, but also endangers the lives of fellow motorists on the road. It is critical for Granite Staters to understand that their choices behind the wheel also affect the availability and affordability of insurance coverage for all drivers. The New Hampshire Insurance Department is hearing a lot from consumers about the rising cost of auto insurance premiums,” Bettencourt said in his remarks.
“Our message today is to emphasize that reckless driving behaviors are not only a safety threat but also put at risk the affordability of auto insurance rates for all motorists. Motorists should be aware that a reckless driving citation, or some other serious motor vehicle violation, will be reflected in your auto insurance premiums for several years,” he added. “This is not going to be a one-time event for you. So please bear those things in mind, not only for your own safety, not only for your own ability to afford your auto insurance coverage, but for all Granite Staters to be able to have access to affordable auto insurance.”
SARGENT’S PURCHASE – On Saturday, personnel from multiple rescue crews teamed up to help an injured woman get off of Mt. Washington to seek medical treatment.
At approximately 7:45 AM, New Hampshire Fish and Game Department Conservation Officers were notified that a staff member at the Appalachian Mountain Club (AMC) Lakes of the Clouds Hut had taken a serious fall at the hut and was left unable to walk.
Fish and Game subsequently mobilized search and rescue personnel to come and help evacuate the young woman from her remote location.
By 10:00 AM, members of the Androscoggin Valley Search and Rescue Team (AVSAR), Pemigewassett Valley Search and Rescue Team (Pemi), AMC and Fish and Game had gathered at the Base Station of the Cog Rail. The Cog Railway generously donated room on their trains, and rescuers and equipment were given rides up Mt. Washington to the West Side Trail, which allowed for a shorter and less strenuous 1.6 mile hike than other routes.
By 11:20 AM rescuers were at the hut with the patient. The patient was subsequently packaged in a litter and prepared for an overland carryout back to the Cog tracks.
Rescue personnel made steady progress, and by 2:15 PM had made it back across West Side Trail and to the train tracks. A Cog Railway train picked up the whole rescue party and brought everyone back down the mountain. Once roadside, the patient was evaluated by personnel from Twin Mountain Fire and Rescue.
She was ultimately driven from the scene by a friend and went to Memorial Hospital in North Conway for further evaluation
and treatment of multiple injuries related to her fall. The patient was identified as Cali Turner, 26, of Willimantic, Maine.
Fish and Game would like to thank all of the people and organizations involved in this rescue effort. Through the help of everyone, the rescue was a great success and got done in a timely manner.
New Hampshire
Gilmanton Iron Works Man Accused Of Possessing Guns, Hundreds Of Grams Of Fentanyl In Hooksett, Manchester
Editor’s note: This post was derived from information provided by the Hooksett and Manchester police departments and does not constitute a conviction. This link explains how to request the removal of a name from New Hampshire Patch police reports.
Stark was arrested later by police during a motor vehicle stop in Manchester and charged with drug sale, possession, driving after revocation or suspension, and armed career criminal. He was then turned over to Hooksett police on that department’s charges, processed, declined bail, and was held at the Merrimack County Jail for future arraignment.
Decades Of Priors
Stark, according to superior court records, has more than two decades of criminal history, mostly in the Lakes Region.
In Laconia in December 2005, when he was a teen, Stark was accused of second-degree assault and felony theft. He pleaded guilty to both charges in August 2006. Stark was given work release in January 2007 and about 11 months later, was accused of violating probation. After being sentenced, he was accused of violating probation again in August 2008. A bail forfeiture hearing was held in December 2008, and a probation violation hearing was held in March 2009.
Stark was accused of controlled drug act in Laconia in December 2009, but the charge was nolle prossed in August 2010. In June 2010, he was accused of controlled drug act in Laconia, but the charge was nolle prossed in November 2010. Stark was charged with bail jumping in May 2010 and pleaded guilty a year later to the charge and received a two-to-four-year prison sentence with 113 days time served credit.
New Hampshire’s scenic natural landscapes are well-complemented by its rich culture and warm hospitality. The many small towns dotting the state are the best places to experience it all. For example, in Gorham’s downtown, visitors can explore local history while admiring the stunning views of lush White Mountains surrounding the town. The college town of Henniker is the perfect destination to enjoy outdoor adventures like skiing and hiking as well as leisurely strolls along the Contoocook River flowing by the town. Littleton is another riverside destination where even roadside signs encourage friendliness. These nine hospitable towns in New Hampshire are where warm hospitality is part of everyday life.
Gorham
Located in the White Mountains, Gorham is a community hub for residents and travelers alike. Since Gorham is called the “Gateway to the White Mountains,” start your trip with the Androscoggin Valley. This basecamp is where wilderness and hiking collide. Here, you will find the Appalachian Trail (A.T.) Community, blending alpine activities, hiker culture, and hospitality.
For a slower stroll, visit the Gorham Town Common, located in the heart of downtown Gorham. This vibrant community is a natural gathering place for everyone. Sit on the open grassy lawns, as you take in views of the Presidential and Mahoosuc mountain ranges. In this serene area, trees sway in the cool New England breeze, and monuments pay homage to local history.
Main Street has locally owned businesses such as the White Mountain Cafe, the Gorham Public Library, and the Medallion Opera House. Check out a live show and borrow a book for your weeklong (or weekend-long) stay. Then cozy up with a good book and a cup of coffee at the neighboring cafe. From this spot, you will also get unobstructed views of the White Mountains. If you have an urge to hike or climb, Mount Washington offers direct access to the ATV trail networks. It features exposed granite and low tree lines that make everything appear larger than are. It is also a serene spot to escape the crowds.
Litchfield
Litchfield is an idyllic enclave that sits among Derry, Manchester, and Nashua. It offers a rural, country lifestyle with close proximity to the Massachusetts border and major cities. The John Bryant River Access is where kayakers and canoers ride along the Merrimack River. This peaceful riverside setting is also the ideal spot for fishing and paddling.
For some wholesome fun, head over to Mel’s Funway Park, which offers a wide variety of activities, including mini golf, laser tag, go-karts, and bumper boats. While this place is more for families, it brings the kid out in everyone. This park especially looks magical during the holidays, with twinkling holiday light displays.
Visit Mine Falls Park around half an hour away. It is a 325-acre park with miles of hiking and biking trails and scenic views of the canals and surrounding rivers. This area also features open fields, wetlands, and forested areas, bordered by the Nashua River and south of the Mill Pond canal system.
Lancaster
Lancaster has a Mayberry-esque vibe that gives it warmth. This community also rallies support for local businesses. Due to its proximity to the Great North Woods, it is an ideal town to escape the noisy world. This area alone offers year-round outdoor recreation and views of the New England scenery.
Walk along Main Street, which prides itself on supporting local businesses and entrepreneurs. Yet, it looks like a typical New England town from the 19th century with its Victorian architecture and brick buildings. It is a highly walkable space that blends history with a modern aesthetic. Here, you will find delicious spots like the Polish Prince Bakery or the Copper Pig Brewery.
Each year, the Lancaster Fair brings people together. This event, held in the White Mountains, promotes the importance of education. Notable attractions include the Ferris wheel, livestock barns with farm animals, and mountain views in the background.
Along the Upper Connecticut River, this town offers access to the great outdoors. This waterway marks the border between New Hampshire and Vermont, and it features the iconic Mount Orne Covered Bridge. For the best experience, hike or bike through New Hampshire Route 135 between Lancaster and Dalton for views of the river winding through the valley.
Take an autumnal hike at Weeks State Park or go snowmobiling in the winter. Once you get to the top of Mount Prospect, you will take in the 360-degree views of the mountain and the North Country. Climb the stone tower, drive along the scenic road, or tour the house museum. There are also picnic areas for lunching or resting.
Henniker
Henniker is a social community that relies more on family-owned businesses than retail chains. This town embodies a welcoming, tight-knit community that does not shun newcomers or visitors. Pats Peak Ski Area and the Contoocook River are the best spots for skiing, snow tubing, and other winter activities.
Pats Peak is a family-owned ski area that features rustic lodges, scenic slopes, and panoramic views of Southern New Hampshire. The Contookcook River is known for its signature coffee-colored water, deep woodlands, and rocky rapids. Its appearance changes depending on the time of year and where you are. Walk along the Contoocook River Path to relax in the sand or launch your kayak on the shore. Henniker is also home to New England College, a 220-acre campus with brick buildings and modern amenities. This campus is conveniently located 15 minutes away from Concord. Explore the campus on your own or book a tour.
Meanwhile, the historic downtown area offers access to boutiques and stores like Old Number 6 Book Depot. Get lost in this two-story building filled with highly organized and alphabetized books. Here, you will get a selection of affordable books and nice people. The staff also has a friendly, affectionate cat that encourages petting and back scratching.
Mont Vernon
This town offers a tranquil, safe escape from bustling cities and busy tourist attractions. Nestled in Hillsborough County, Mont Vernon offers country living while situated close to Milford and Amherst. Start with a peaceful walk from Upton Road to the forested trails that lead you to the picturesque waterfalls called the “Devil’s Beanpot,” where the Lower and Upper Falls meet.
This area features a 25-foot drop, making it an ideal spot for biking, hiking, swimming, diving, and relaxing on the rocks. This area is close to Mont Vernon Town Forest, a dog-friendly area with hardwood trees, lush greenery, mossy rocks, and rooted paths that offer a peaceful escape for hikers and their furry friends.
Along this 25-foot drop, Purgatory Brook cascades into Purgatory Falls, which sits between Mont Vernon and Lyndeborough, New Hampshire. The trails stretch along the river and lead into a dense forest that features beech, hemlock, and oak. The landscape changes throughout the year, depending on the season. It could look like a wilderness in the spring or a peaceful brook during the summer.
In the fall, the community gathers for Lamson Farm Day, an annual event celebrating the town’s agriculture. Lamson Farms transforms into a community gathering with arts and crafts, hands-on activities, and barbecue chicken. You can also watch historical demonstrations such as black powder rifle demonstrations, shootings, or apple cider pressing.
Littleton
Littleton prides itself as the “Glad Town” of Pollyanna, the 1913 children’s book by Eleanor H. Porter. Their friendliness stems from its walkable Main Street, local culture, and community spaces. Here, you can visit the home of Eleanor H. Porter. Upon arrival, you will be greeted by the bronze statue of the “Glad Girl” on the library lawn.
On the crosswalks of Main Street, you will see “Stop, Look, Wave” signs encouraging you to interact with the locals looking in your direction. Nearby is access to the PRKR Mountain Trails, which feature 25 miles of multi-use community trails that spread throughout the 1,000 acres of North Country terrain. This area offers panoramic views from Linda’s Lookout, including the Presidential Range of the White Mountains.
The Riverwalk & Harmony Park is a tranquil oasis situated behind Main Street. Walk across the 352-foot, open-sided pedestrian covered bridge, offering scenic views of the Ammonoosuc River and the surrounding brick buildings. Along the river, paved and gravel walking trails lead to quiet seating areas and community art spaces.
Chutters is your one-stop shop for nostalgic retro candy and hard-to-find varieties. Try their classic fudge and chocolates. All of their candy is set in a fanciful atmosphere, with friendly, knowledgeable staff. You cannot miss Chutters, with its pink-and-purple storefront along Main Street. This candy store is a must-stop for travelers of all ages. Young and old alike will also enjoy the Little Toy Village & Book Shop, an independent bookstore that welcomes everyone. Upon stepping into this store, you will come across helpful staff, educational books, and toys for all ages. You might even find your favorite classic toy or board game from your childhood.
Stratham
Stratham has community traditions with access to the Seacoast. Stratham Hill Park is known for its iconic tower, which welcomes locals and visitors alike. This area has pavilions, fields, and trails to explore.
The Great Bay Discovery Center at the Great Bay National Estuarine Research Reserve in nearby Greenland is a place to go for hiking, biking, boating, and hunting. At the visitor center, you will explore exhibits about plankton, salt marsh farming, and the estuary on the Bay. It also features incredible views of the Boardwalk and wildlife.
The Annual Stratham Fair at Stratham Hill Park on Route 33 is a time-honored New England country fair that feels intimate and comfortable, unlike the often-crowded Deerfield Fair. It has a mix of live music, carnival rides, petting zoos, and fair food. Run by the Stratham Volunteer Fire Department, it honors the classic traditions of offering Boy Scout lemonade stands, fresh apple cider donuts, and a chicken BBQ.
Make time on your trip to visit the Stratham Historical Society at the George A. and Emma B. Wiggin Memorial Library. This area contains artifacts, including the 1909 original Boston Post Cane. You will also come across old maps of this historic town and antique toll bridge signs.
Keene
Keene is a pleasant town with a diverse mix of locals from across the nation. Speak to people with diverse opinions at Keene State or Antioch University. These distinct campuses both embody this town’s traditional New England culture with their classic brick buildings and lush greenery. Both schools will also lead you to downtown Keene, known as one of the widest Main Streets in the nation. While Antioch University is in a more private, wooded setting, it is just minutes from downtown. Both schools are heavily influenced by New England scenery and the Monadnock Region’s natural beauty.
Explore Main Street, including Central Square and downtown. This area features the famously wide Main Street, lined with boutiques, secret alley murals, and bookstores like The Toadstool Bookshop. This classic spot is welcoming with its floor-to-ceiling book displays, warm lighting, and comfortable seating. It is just as fun to walk around and spot the classic books from your childhood.
Just 15 minutes from downtown is the Madam Sherri Forest. This area features stone ruins from Madam Sherri’s mansion, an opera singer who was famous in the 1920s. Hike along the trails during leaf peeping season. The Farmers Market of Keene is open year-round and has indoor access in the winter. The town has smiles on every corner, especially when you run into locals here. The market itself offers a wide array of dairy products, honey, maple products, fruits, vegetables, and meats.
Antrim
Antrim is a hospitable town that hosts annual community events, offers a walkable layout, and provides access to natural landscapes. Walk from Antrim’s historic downtown area to the Antrim Town Common. This classic green space has winding paths and trees blowing in the wind. Sit and observe the 19th-century architecture and historic homes in this calm area.
The Antrim Town Common offers a restful respite amid your busy travels. It is also the setting for most community events and festivals. Speaking of which, the Home and Harvest Festival is a classic New England town fair that has the vibe of a traditional fair without the crowds. This community-led event marches along Main Street. This stretch of road hosts craft vendors, food tents, and family-friendly activities. The weekend ends with a fireworks show hosted by Atlas Pyrotechnics.
This town also offers views of the Gregg Lake and the Contoocook River. Gregg Lake is a 201-acre lake of tranquil waters set among cabins, dense forests, and pine trees. It flows into the Contoocook River, a slow-moving flatwater surrounded by wetlands and reeds. It eventually transitions into rushing rapids centered on rugged terrain. Divers and hikers often frequent this spot.
End your trip with a stop at Antrim Farmers Market on the grounds of the First Presbyterian Church, set in a traditional New England village. At first glance, it looks like a typical outdoor festival, but it offers so much more. Friendly and smiling vendors sit under pop-up tents, folding tables, and farm stands. There are also local musicians, authors, and artists. This farmers’ market is only open on Thursdays from 4:00 p.m. to 6:30 p.m. from May through September.
With so much to see and do, there are opportunities to explore history, art, and outdoor landmarks while steeped in these rich communities. Anyone who wants to make memories in New Hampshire will never feel alone.
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