How To Find Affordable Car Insurance in NH

In New Hampshire, the average auto insurance premium is $1,083 per year, which is 24 percent less than the national average. The folks in New Hampshire know all about affordable car insurance but there are ways to make that premium come down even lower. We will discuss tips and strategies for saving money on car insurance a little later on, but first we will take a closer look at car insurance in New Hampshire.

Car insurance Is Not Required

In New Hampshire, motor vehicle laws do not require drivers to carry auto insurance. Drivers must however be able to demonstrate that they are able to provide sufficient funds to meet New Hampshire Motor Vehicle Financial Responsibility Requirements in the event of an at-fault accident. Drivers in New Hampshire are also responsible for bodily injury and property damage so it’s best to have the right insurance.

Minimum Liability

If you ever cause a car crash, liability insurance pays for the other people’s injuries and property damage, up to your own liability limit.

If you buy auto insurance in New Hampshire, the minimum limits for liability coverage is $25,000 bodily injury per person, $50,000 bodily injury per accident and $25,000 property damage per accident.

In New Hampshire, this minimum liability coverage would cost around $510 per year.

Medical Payments

Medical payments coverage pays for medical expenses incurred as a result of a car accident regardless of fault.

If you buy auto insurance in New Hampshire, you also must buy medical payments coverage of $1,000 per person.

Uninsured and Underinsured Motorist Coverage

Uninsured motorist coverage helps pay for damages caused by a driver who doesn’t have insurance. Underinsured motorist coverage protects you in the event of an accident where the other party is at fault and is underinsured.

In New Hampshire, if you buy auto insurance you must buy uninsured motorist and underinsured motorist coverage and it must be equal to the auto liability coverage. Mirroring the minimum liability limit, the minimum coverage would be $25,000 bodily injury per person, $50,000 bodily injury per accident and $25,000 property damage per accident.

New Hampshire Is an At-fault State

When it comes to auto insurance, New Hampshire is an at-fault state. This means New Hampshire drivers are responsible for any damage they cause to another vehicle. They are also responsible for bodily injury. An insurance adjuster determines who is at fault in an accident. The best way to be protected against any harm or damages you may do, it’s best to carry Personal Injury Protection (PIP).

Cheapest and Most Expensive Cities

In New Hampshire, the city with the cheapest car insurance is Concord. The city with the most expensive insurance is Manchester.

Located on the Merrimack River, Concord is the state capital of New Hampshire. Manchester is located in southern New Hampshire and is the area’s largest city north of Boston.

Pay More for Fuller Policy

In New Hampshire, if you opt for a more comprehensive policy with collision coverage and comprehensive coverage with $1,000 deductibles, you would pay somewhere around $969 per year.

Collision insurance is coverage that helps to replace or repair your car if it is damaged in an at-fault accident with another vehicle or object such as a tree or a fence. Comprehensive auto insurance covers events not covered by collision coverage. These events include theft, fire, vandalism and damages from weather such as a hailstorm, a windstorm, a tornado and a hurricane.

If you have a loan on your car, your lender will require you to carry both collision coverage and comprehensive coverage.

A deductible is the amount you need to pay before your auto insurance company begins to pay for damages to your car or losses. Both collision insurance and comprehensive insurance require deductibles.

Choosing a high deductible is one way to save money on your auto insurance premium.

How to Save Money on Car Insurance

Let’s look at other ways to save money on car insurance. Use as many tips and strategies that apply and save money.

Be a safe and responsible driver. Following the rules of the road and being a safe and responsible driver will save you money on your car insurance. In New Hampshire, drivers without a recent, at-fault accident save 39 percent on their car insurance premiums. But if you start breaking the rules of the road premiums start going up. In New Hampshire, car insurance premiums increase by 41 percent after a DUI, 39 percent after an at-fault accident and 18 percent after a speeding ticket. What does that mean in dollars and cents? In New Hampshire, the first, minor, at-fault accident raises your car insurance premium by an average of $609 per year. And a DUI can increase your car insurance premium by as much as $766 (or more!) per year. If you’ve been a safe and responsible driver be sure to let your auto insurance company know. You’re entitled to a good driver discount.

Be a married motorist. If you are married, you will pay less for car insurance. There is a correlation between being married and exhibiting safe driving behavior. Because of this, married drivers pay less for auto insurance than singles. In New Hampshire, married motorists save an average of $60 per year on their car insurance.

Have good credit. Insurance companies have been using consumer credit data to assign risk pools and set insurance since the mid-1990s. As a result, drivers with good and excellent credit pay much less on their car insurance than drivers with no credit or poor credit. In New Hampshire, a driver with excellent credit saves around $981 per year on car insurance compared with a driver with bad credit. Need to turn your credit around? Get current on past due accounts, pay down debt and don’t take on any new debt. Get in the habit of paying your credit bills on-time every time. This will help you build up a positive payment record, which is good for your credit score.

Pick up a multi-car discount. Got more than one car to insure? Insure them with the same auto insurance company and you will save money on your premiums.

Pay once or twice a year. Rather than pay monthly auto insurance bills, pay the entire annual amount or six-months amount. Your premium is lower when you pay just once or twice a year.

Try bundling. Bundle your auto insurance policy with another policy such as a homeowners policy and save money.

Choose a high deductible. As mentioned earlier, choosing a high deductible will help to lower your car insurance premium, especially with newer cars. Just be sure to put the deductible amount in a small emergency fund. This way the money will be there should you need to file an auto insurance claim.

Spend less on older cars. The maximum payout for collision coverage and comprehensive coverage is limited by the value of the car. So if your older car has a low market value, it may not make financial sense to carry collision coverage and comprehensive coverage any longer.

Check anti-theft features. Having certain anti-theft and safety features on your car will lower your car insurance. So check the features on your car with your insurance company and find out if you’re owed a discount.

Look up memberships. Members of some professional organizations and affiliates get discounts on their car insurance. So check your memberships with your insurance company and find out if you're due a discount on your car insurance.

Be a lady driver. Women make fewer accident claims than men and are rewarded with lower auto insurance rates. Men make more accident claims and pay more.

Look for discounts. The good driving discount was already mentioned. But there are discounts for students and veterans as well. So be sure to reach out to your insurance company if you qualify.

Stick with coverage. You’ll pay higher insurance rates if you don’t maintain continuous coverage of your auto insurance. So stick with your auto insurance coverage and save money

Keep mileage low. Want to save money on car insurance? Keep your mileage low. Low-mileage drivers pay less for car insurance than heavy commuters who rack up the miles. So drive less and pay less on your car insurance.

Check your age. Drivers younger than 25 and older than 65 have more serious accidents and pay more for their car insurance. Drivers of the ages in-between pay less.

Own your home. Statistics show that people who own homes drive more safely. So let your insurance company know that you own your home and enjoy the savings on your car insurance premium.

Shop around. One of the best ways to save money on car insurance is to shop around. So check out auto insurance quotes from several different insurance companies. SmartFinancial makes this easy to do. Just enter the type of insurance you are looking for and a zip code to get started. Next, answer a few, quick questions and you’ll be comparing auto insurance rates in New Hampshire in no time.

SmartFinancial has access to more than 200 car insurance companies so you are bound to find the insurance coverage and price that you want. So shop smart for insurance and drive safely along the roadways of New Hampshire.