Owning rental property in New Hampshire can be a rewarding investment, but it also comes with responsibilities and risks. From unexpected storm damage to tenant accidents, having the right insurance in place protects both your property and your peace of mind. Here’s what every Granite State landlord should know about safeguarding rentals with smart coverage and clear tenant requirements.
Landlord Insurance: The Foundation of Protection
Landlord insurance is very different from a standard homeowner’s policy. While homeowners insurance is designed for personal residences, landlord insurance is built for income-generating rentals. A typical policy in New Hampshire includes:
- Property coverage for damage caused by fire, wind, storms, or vandalism.
- Liability protection if a tenant or visitor is injured on your property.
- Loss of rental income if your property becomes uninhabitable due to a covered event.
In a state known for harsh winters and unpredictable storms, these protections aren’t optional—they’re essential.
Why Tenants Should Carry Renters Insurance
Even with a strong landlord policy, there are gaps that only renters insurance can fill. Many tenants don’t realize that your insurance doesn’t cover their personal belongings. Renters insurance is inexpensive (often less than $20 a month) and typically provides:
- Coverage for tenants’ personal items like furniture, electronics, and clothing.
- Liability coverage if a tenant accidentally causes damage (for example, a kitchen fire or burst pipe).
- Relocation expenses if the unit becomes unlivable.
By requiring tenants to carry renters insurance, you not only protect them—you reduce the chance they’ll hold you financially responsible for something outside your coverage.
High-Turnover Rentals Need Extra Attention
If you own rentals near colleges like Keene State or the University of New Hampshire, you already know that student housing and room-by-room rentals bring unique challenges. Frequent turnover, first-time renters, and lots of visitors can increase risk.
To keep things simple and consistent:
- Require every tenant to carry their own renters policy.
- Collect proof of insurance before move-in.
- Add yourself as an “interested party” so you’re notified if the policy lapses.
Making Insurance a Lease Requirement
One of the most effective ways to ensure compliance is to make renters insurance a non-negotiable lease clause. A strong lease agreement should:
- Clearly state that proof of coverage is required before move-in.
- Outline minimum coverage amounts (for example, $100,000 liability).
- Require tenants to maintain active coverage throughout their tenancy.
Digital property management tools can make it easy to track renewals, collect documents, and send reminders.
Peace of Mind for Both Landlords and Tenants
Clear insurance requirements don’t just protect your financial investment—they also create transparency and trust with your tenants. When everyone understands who is responsible for what, it reduces disputes and ensures smoother move-ins and move-outs.
For New Hampshire landlords, the formula is simple:
- Carry landlord insurance to protect your property and income.
- Require renters insurance to shield tenants and reduce liability.
- Review your policies annually to make sure coverage keeps pace with changing costs and risks.
Final Thought
Whether you own a multi-family in Manchester, a lakeside rental in Wolfeboro, or student housing in Durham, insurance is one of the most important safeguards you can put in place. Protect your property, your tenants, and your future by making sure everyone under your roof is properly covered.