New Hampshire Car Insurance
Car insurance in New Hampshire is important because it provides financial protection for you when you are involved in a traffic accident or are a victim of auto theft, vandalism, or a hit-and-run. Most people do not have enough money set aside to cover all of the costs of repairing vehicle damage. For this reason, New Hampshire has established a minimum amount of insurance coverage that drivers are required to have, including liability, uninsured motorist, and medical payments coverage. Liability insurance covers the expenses of the other party involved in an accident if you’re found to be at fault. Uninsured motorist insurance covers your expenses in the event that the at-fault party does not have insurance, or if they do not have enough to cover you. Medical payments insurance covers the medical expenses of yourself and your passengers if you must seek medical treatment because of a collision. New Hampshire Statute RSA 264 explains the minimum required amount of coverage.
Required Coverages in New Hampshire:
- Bodily Injury Liability Per Person: $25,000
- Bodily Injury Liability Per Accident: $50,000
- Property Damage Liability: $25,000
Uninsured Motorist Coverage:
- Bodily Injury Coverage Per Person: $25,000
- Bodily Injury Coverage Per Accident: $50,000
Medical Payments Coverage:
- Medical Payments Coverage Per Person: $1,000
Failing to provide proof of insurance when you are stopped by a law enforcement officer or when you are involved in a traffic accident can result in having your driver’s license suspended, fines, and/or imprisonment, depending on the severity of the offense and the number of offenses you have.
Determining Your Rate in New Hampshire
According to the Insurance Information Institute, the national average cost for liability insurance is $474, but liability insurance in New Hampshire averages at $394. However, your rate may be different because car insurance rates in New Hampshire are decided by several factors, including the type of vehicle you drive, your daily commute, how old you are, your sex, your marital status, where you live, your driving record, and your credit score.
Where you fall in these categories will be used by insurance companies to determine how much of a risk you are to insure. Things like having a low credit score, living in an area with a high crime rate, having a long daily commute, and being younger than 25 will raise your risk level. If you are considered to be a high risk, an insurance company will charge you a higher rate to compensate for the risk. Each company weighs each factor differently which is why you find so many different prices when you compare car insurance quotes in New Hampshire.
To help prepare you for shopping for auto insurance in New Hampshire, the insurance department has developed a premium comparison survey. This features examples of seven types of people with differing factors. You can see which example is closest to you, and then see the quotes that several insurance companies in New Hampshire offer based on the example’s determining factors.