Need to know how much car insurance costs in NH? We’re here to help. Here’s what you need to know about how car insurance companies price insurance, what coverage you need and how to determine what coverage is right for you.
How insurance companies in NH price insurance
Insurance companies use a variety of rating factors to price insurance. The types of coverage and the limits you choose to buy are the biggest factors in determining your car insurance policy’s cost. Other factors like location, driving experience, driving record and type of car insured are also considered when it comes to pricing insurance. Individual companies may use additional factors.
Rates can vary greatly within a state. A person who lives in a city like Manchester will likely pay a higher premium than they would pay if they lived in a suburban or rural town. Cities are more congested, and the risk of collision with another car is greater than if a person drives in a smaller town.
Minimum insurance requirements
While New Hampshire does not legally require a driver to have car insurance, there are still minimum limits a policy is required to have.
| Coverage | Minimum Limit |
| Bodily Injury Liability | $25,000 per person / $50,000 per accident |
| Uninsured Motorists | Equal to Bodily Injury Liability limit |
| Property Damage Liability | $25,000 per accident |
| Medical Payments | $1,000 per accident |
So what do all of those coverages mean? Here’s some basic information regarding those coverage limits for New Hampshire car insurance:
Bodily Injury Liability
This protects you, a household member or another authorized driver against legal liability for the accidental injury or death of others caused by the operation of your car. You need at least $25,000 of coverage per-person and $50,000 per-accident for your auto insurance in New Hampshire.
Uninsured Motorists
This pays for the injuries of you, anyone you let drive your car, household members and passengers caused by an uninsured or underinsured driver.
Uninsured drivers are those without car insurance, and in NH this also covers unidentified (“hit and run”) drivers as well. An underinsured driver is one who has liability insurance, but not enough to cover your injuries. Your UM limits must be equal to your Auto Liability Coverage, so a minimum limit of $25,000 per-person and $50,000 per-accident is required for auto insurance in New Hampshire.
Property Damage Liability
This pays for damage to another person’s property when you, a household member or another authorized driver cause a crash. Typically, this will be to another person’s car. There’s a minimum coverage limit of $25,000.
Medical Payments
MedPay covers medical expenses for you and your passengers in a crash no matter who was at fault. It can also cover health insurance deductibles and copays. If you have car insurance in New Hampshire, you need at least $1,000 of MedPay coverage.
What Does Full Coverage Mean?
When people say “full coverage”, they typically mean that a car insurance policy has both comprehensive and collision coverage for the car in addition to the required liability coverages. New Hampshire does not require coverage for damage to your own car. However, your lender or leaseholder may require you to carry those coverages as a condition of car loan or lease.
| Comprehensive coverage may cover: | Collision coverage may cover: |
| Natural disasters and storms | Hitting another vehicle |
| Vandalism | Damaged by another vehicle |
| Damage caused by animals | Hitting a stationary object |
Collision insurance covers the cost to repair or replace your car after a collision with another vehicle or stationary object. It does not cover the damage you cause to other cars- that would fall under your Property Damage Liability coverage. Mechanical breakdowns and wear and tear are also not covered by Collision.
Comprehensive coverage protects your car from damage NOT related to a collision. This includes damage from fire, animal strikes and natural disasters.
How to determine what level of insurance is right for you
Balancing financial risk and the cost of your insurance policy is a personal decision based on your own unique needs.
Consider aspects like the value of your car and the amount that you’re comfortable spending in the event of an accident or even a total loss. Your ability to pay for medical expenses for yourself or another party in the unfortunate case of an accident that causes injuries should also be an important factor when thinking about how much coverage you need.
Car insurance in NH cost details
Here are just a few of the ways car insurance can be priced in New Hampshire:
Coverage Limits
It goes without saying, but the more coverage you have the higher your car insurance premiums will be. Saving with lesser coverage may mean paying more in the long run if you have a claim that exceeds your limits. Make sure you understand what your insurance covers so you can protect yourself, your family and your assets.
Type of Car
The kind of car you drive is a big factor when it comes to your insurance rates. Factors like your car’s make, model, age and its repair cost will affect how much your insurance premium costs.
Driving Record
How you drive also makes a huge difference in how much your car insurance will cost. Claims and moving violations on your record indicate to a car insurance company that you are riskier to insure. Car insurance companies may also consider new drivers to be riskier to insure as well. The best way to keep your car insurance costs down is to drive safely and maintain a clean driving record.
Conclusion: How much is car insurance in NH
How much your car insurance will cost in New Hampshire will vary based on the extent of your coverage. It is also priced based on other factors, like your driving record and the type of car you drive. Your personal financial situation is important to consider when deciding on coverage limits, and it’s always wise to carry more than the minimum coverage.
If you’re looking for ways to bring the cost of your car insurance down, call Plymouth Rock today and see how much you can save!
