How much is car insurance in New Hampshire per month?

In New Hampshire, drivers need $25,000 of bodily injury liability insurance per person, up to $50,000 per accident, and $25,000 of property damage liability insurance. New Hampshire does not require uninsured motorist protection, which replaces the liability coverage an at-fault driver should’ve had and pays for your costs up to your policy limits. Coverage like MedPay or personal injury protection pays for medical expenses for you and your passengers, and MedPay is also required in New Hampshire. PIP is not available. In New Hampshire, you don't need car insurance if you prove you meet liability requirements by depositing money with the state treasury.… read full answer

Here’s How Much Car Insurance Drivers Need in New Hampshire:

If you lease or finance your car, you may be required to carry coverage types that are not mandatory under New Hampshire law. Lenders usually require comprehensive and collision insurance. Collision insurance covers repairs to your car when you hit another car or object. If the damage to your vehicle was caused by something other than a collision—like a natural disaster, vandalism, falling objects, or animals—it is most likely covered by comprehensive insurance. You might also have to get gap insurance, which covers the difference between what you owe on your loan and what the vehicle is worth at the time of a total loss.

Even if you’re not required to carry these optional coverage types, you may still need them. You can learn more about when to drop optional coverage and the penalties for driving without insurance in New Hampshire to make sure you’re paying for the coverage you need.

Car insurance in New Hampshire is actually not very expensive compared to the national average, thanks to minimal car insurance regulations and very low auto repair costs.. In New Hampshire, you can expect to pay approximately $1,307 per year for full coverage car insurance or $438 per year for minimum coverage. Car insurance in New Hampshire is less expensive than the national average, which is around $2,000 annually for … read full answerfull coverage and about $700 per year for minimum coverage.

The cost of car insurance is steadily increasing, too, both in New Hampshire and nationwide. As the cost of providing insurance goes up, the premiums insurers charge also rise. All insured drivers share the increasing cost of insurance. That is why your rates tend to go up every time your policy is renewed, regardless of whether any individual factors—like your driving record or location—have changed.

There are several unique reasons why car insurance goes up every year in New Hampshire, too, even if your details remain the same.

Top Reasons Car Insurance Is Expensive in New Hampshire

• People in New Hampshire are driving more. As a result, the number of accidents, claims, and payouts is rising, too. For example, there were approximately 90 fatal crashes in 2019 in New Hampshire, versus 89 fatal crashes in 2014.

• Auto repairs are getting more expensive. Vehicles today cost more to repair due to the added technology and features. For example, a National Association of Insurance Commissioners study found that the average cost of vehicle repairs was around 8% higher in 2018 than it was in 2014.
• People in New Hampshire drive uninsured. As the cost of car insurance continues to rise, more drivers take the risk of driving without car insurance. In 2019, 6% of drivers lacked even minimum liability insurance in New Hampshire. The cost of uninsured drivers is passed on to consumers through higher premiums.
• Healthcare in New Hampshire is getting more expensive. Car insurance companies are hit hardest when paying out claims involving medical bills, and it’s not getting any cheaper. Healthcare spending increases by an average of 9% every year in New Hampshire.
• New Hampshire is experiencing more severe weather. In New Hampshire, weather events like tropical cyclones, severe storms, and droughts are becoming increasingly common. These weather events cause insurers to pay out a higher number of claims, which tend to be more expensive and less predictable. As a result, they have to raise rates to keep pace.

However, there could be other issues elevating your rates.

If your driving record is clean and your rates are still high, your car insurance might be expensive because of your:

Age. Drivers under 25 and older than 65 pay more for auto coverage because they are statistically more likely to be involved in serious and fatal accidents. In New Hampshire, 16-year-old drivers pay an average of $2,265, 25-year-old drivers pay an average of $607, and people over 65 pay an average of $446.

Location and driving patterns. Population-dense cities have higher premiums than rural areas because city living usually means more accidents, more property crime, and more frequent claims. In New Hampshire, the most expensive locations for insurance are Manchester, Salem, and Windham. You can also expect rates to change based on your driving patterns—long commutes or regular driving in high-risk areas can cost you.

Financial responsibility. In New Hampshire, drivers with no credit pay 100% more on their premiums than drivers with excellent credit. You can also demonstrate financial responsibility by maintaining minimum car insurance with no gaps in coverage. Letting your coverage lapse could result in a higher rate when you get your next policy.

Claims history. Numerous recent claims can drive up your premiums. That's one reason why it sometimes makes sense to pay out of pocket rather than file a claim, especially if a claim won’t get you much more than your deductible.

How to Get Cheaper Car Insurance in New Hampshire

Multiple factors affect the cost of car insurance. Some things you can’t control, but you do have a say in most of the contributing factors. Driving safely, obeying traffic laws, and keeping a clean driving record are the best ways to keep your insurance costs down.

Other than that, the best way to lower your car insurance costs is to compare rates from at least three insurance companies. Ideally, you should check your rates every 6-12 months, when you renew your policy. But at a minimum, be sure to check your record and shop for rates every three to five years, since you may be able to get a lower rate if a traffic violation falls off your record.

In New Hampshire, the most expensive policies cost roughly $1,358, and the least expensive coverage costs around $235, when all driver profile information is the same. That means you could save as much as $1,123 simply by shopping around. Be sure to confirm you’re getting all the discounts you’re eligible for, too.

The penalties for driving without insurance in New Hampshire include license and registration suspension as well as SR-22 requirements. Insurance coverage is not mandatory in New Hampshire, but if you don’t purchase car insurance, you need to prove financial responsibility by depositing money or securities with the state treasury.

If you choose to have car insurance, you’ll need at least $25,000 in bodily injury liability coverage, up to $50,000 per accident, along with $25,000 in liability coverage for property damage. You can instead deposit securities with the state treasury that equal the minimum liability coverage amounts, though.… read full answer

Purchasing New Hampshire’s minimum liability car insurance coverage is the easiest way to satisfy the financial responsibility requirement. Drivers in New Hampshire pay an average of $438 per year to maintain minimum coverage. That’s nothing compared to the consequences of driving without insurance, especially if you get into an accident.

Penalties for Driving Without Insurance in New Hampshire

Not having car insurance and not being able to prove that you have it are two different violations. If you have insurance but cannot prove it when you get pulled over or at the scene of an accident, you are guilty of an “administrative violation,” similar to a seat-belt ticket. Fortunately, New Hampshire does not cite drivers for failing to provide proof of insurance as long as proof is submitted at a later date.

Driving without car insurance at all is much more serious, and the penalties are more severe. In addition to the legal consequences, you can also expect your car insurance premium to go up when you get coverage again. Plus, if you get into an accident while driving without insurance in New Hampshire, you will be cited and all the penalties for driving without insurance will apply, no matter who is at fault. And if the accident is your fault, you’ll have to pay for all the damages out of your own pocket.