How much is home insurance in Franklin, NH?
The average cost of homeowners insurance in Franklin varies depending on the coverage level you choose. Homeowners insurance costs $983 per year for dwelling coverage of $200,000 and $1,268 for $300,000 of dwelling coverage.
Below are the average annual and monthly Franklin home insurance rates for different amounts of dwelling coverage.
| Coverage level (Dwelling) | Average annual rate | Average monthly rate |
|---|---|---|
| $200,000 | $983 | $82 |
| $300,000 | $1,268 | $106 |
| $400,000 | $1,544 | $129 |
| $600,000 | $2,107 | $176 |
| $1,000,000 | $3,166 | $264 |
Note: For the above rates, the deductible amount is $1,000 and liability protection is $100,000.
Cheapest homeowners insurance companies in Franklin
According to an Insurance.com analysis, Amica Mutual is the cheapest home insurance company in Franklin with an average annual rate of $593. The following table shows the cheapest home insurance companies in Franklin.
Price is an important consideration when shopping for home insurance, and the cost of home insurance in Franklin varies a lot by company. While rates matter, it’s also important to look at each company’s reputation before you buy, starting with our best home insurance companies list.
| Company name | Average annual cost |
|---|---|
| Amica Mutual | $593 |
| Vermont Mutual | $599 |
| Allstate | $616 |
| Farmers | $830 |
| Auto-Owners | $858 |
| State Farm | $879 |
| Plymouth Rock Assurance | $1,107 |
| Nationwide | $1,192 |
| USAA | $1,208 |
| MMG Insurance | $1,274 |
Homeowners insurance cost in Franklin by credit rating
Insurance companies in Franklin can use credit information as one of the factors affecting the cost of your policy.
The average home insurance cost for homeowners with an excellent credit score is $817; that’s $1,142 less expensive than the average cost of the same insurance for policyholders with a poor credit score. The table below shows the average annual insurance cost for homeowners with different credit levels.
| Credit score | Average annual cost |
|---|---|
| Excellent | $817 |
| Good | $983 |
| Fair | $1,199 |
| Poor | $1,959 |
How can you save on homeowners insurance in Franklin?
If you’re looking to save on your homeowners insurance, the best way is comparing quotes from multiple insurers. Homeowners insurance companies offer a variety of different discounts to help you lower insurance costs. Here are a few common ones.
Home and auto bundle discount (multi-policy)
One of the easiest ways to get cheaper home insurance in Franklin is the multi-policy discount, also known as bundling. If you purchase your home and auto insurance from the same company, you can save an average of $126 a year.
“It’s not always the better option, but more times than not it is because if you bundle usually you get a 10-20% discount on both policies,” says Josiah Hatch, owner and CEO at Bender Hatch Insurance in Boston.
Loyalty discount
Staying with the same insurance company can earn you a loyalty discount, which could save you around $87 annually on your home insurance in Franklin.
Security equipment discounts
Insurance companies offer discounts to homeowners for installing safety and security equipment, like a fire alarm or burglar alarm. If you install a fire alarm at your home, you can get a discount of $28 a year on average from your insurer.
New home discount
If you buy new construction, you can get a new home discount of $446 a year on average in Franklin.
Methodology
Insurance.com compared homeowners insurance rates provided by Quadrant Information Services in 2023 for around 29,000 cities in all states and Washington D.C for $200,000 and $300,000 in dwelling coverage with $100,000 in liability and a $1,000 deductible. The rates were analyzed for almost 34,000 ZIP codes for those with good credit ratings. Content has been updated in 2024.
Compare homeowners insurance rates by city in New Hampshire
Helpful home insurance tools and calculators
