New Hampshire Car Insurance

Auto Insurance Basics in New Hampshire

The National Highway Traffic Safety Administration performs in depth analyses periodically on car accidents. They have estimated that there are more than 6 million vehicular accidents annually, in recent years in the United States, resulting on more than 34,000 annual fatalities and causing hundreds of billions of dollars in aggregate financial losses. They have estimated that the economic impact of a fatal car crash is more than $1 million, the cost of a debilitating injury is more than $60,000 and a garden variety fender bender costs about $3,500, on average. As you can see, getting into a car accident can cause enormous financial damage in addition to the toll on human life and health. That is why most states require auto insurance to help defray the cost of crashes and to protect drivers and pedestrians alike. New Hampshire, on the other hand, does not require car insurance, but that does not relieve a driver of responsibility in the event they cause an accident. Those who drive without insurance in the state are simply personally responsible for any resulting damages.

As such, the vast majority of drivers in the Granite State purchase auto insurance. The basic car insurance product is called liability insurance which, in the event that you cause an accident, will pay the cost of death, injury or property damage to the other party in the crash. The claim, or payout, is capped by the stated limits of the particular liability policy. If damages exceed the policy cap the at fault driver may find themselves liable for any additional damages themselves.

Most drivers want protections for their own potential medical and property losses and there are a variety of products to accomplish that. Collision insurance will help repair, or replace if need be, your car in the event it is damaged in a wreck. When looking at collision insurance take care to note the cost of your deductible and premium vs. the book value of your car. Make sue you don’t wind up paying more than the actual worth of your vehicle. Comprehensive insurance is a policy that will reimburse you for the theft of your car, as well as for vandalism and storm damage. Many car owners opt for Uninsured Driver insurance to protect themselves fro damages caused by a driver without insurance or from a hit and run incident.

You can also get bodily liability insurance and personal injury protection to help cushion you from accident related medical bills. Finally, many companies offer products such as roadside assistance, vehicle replacement coverage, and insurance that will pay any remaining lease or finance payments if your car is totaled. In short, there are many ways for New Hampshire motorists to protect themselves and their property.

Auto Insurance Requirements in New Hampshire

New Hampshire does not require motorists to carry car insurance, but the state’s Motor Vehicle Financial Responsibility Law the party who was at fault of causing an accident is responsible for any damage emanating from the incident. Those who opt not to carry insurance usually face the prospect of civil liability lawsuits in the event of an accident. Most New Hampshire drivers choose to take out insurance. The state requires anyone with a car insurance policy to carry minimums of $25,000 for death or bodily injury of a single person, $50,000 for death or injury of more than a single person, and $25,000 for property damage. These are minimum levels of coverage and many drivers choose to purchase higher levels of protections. If you buy liability insurance in New Hampshire you will also need to add in a requirement to obtain $1,000 medical coverage for yourself.

Average Cost of Coverage in New Hampshire

Even though car insurance is not required in New Hampshire it is estimated that less than 10% of drivers in the state opt to forego it. As a result of the high rate of insured drivers and the preponderance of rural roads, car insurance costs are lower than the national average. A safe driver carrying full coverage can expect to pay about 20% lower costs than other drivers if you do your shopping carefully. Those drivers with good credit and good safety records will have an easier time finding good bargains. Having an accident can move you into the high-risk category and add hundreds of dollars to your annual bill. So try to be safe behind the wheel.

Cheapest Car Insurance Companies in New Hampshire

Most of the name brand auto insurers serve the New Hampshire market in addition to smaller regional carriers. Some of these smaller companies, such as The Concord Group, can offer very competitive pricing. With so many variables determining the exact cost of a car insurance policy, we hesitate to say for sure who could provide you with the best deal. For example, having a teen driver in your household will al most always add hundreds to your annual bill. Shop around and see for yourself who will give you a great deal.

Unique Car Insurance Rules and Penalties in New Hampshire

As mentioned, New Hampshire is one of the only states that do not require resident motorists to carry insurance, although most do. However, if you are convicted of serious moving violations such as DWI or leaving the scene of an accident, the state reserves the right to mandate that you carry insurance for three years or more. For those high risk drivers who can not get voluntary insurance, the state runs its own operation where you can obtain coverage.

How to Get the Cheapest Car Insurance in New Hampshire

Being a savvy shopper is the best way to get the best deal. Car insurance companies will give you free quotes for the asking. We recommend that you get a minimum of three no-cost, no-obligation quotes and see for yourself which is the most economical. Our easy, simple web tool at General.com makes it easy to get multiple quotes with just a few pieces of personal information and a few clicks.