Auto Insurance In New Hampshire: Average Monthly Cost Explained

The average cost of car insurance in New Hampshire varies depending on factors such as age, gender, driving record, and credit score. For a full coverage policy, the average annual cost is $1,618, while the average monthly cost is $1,146. For minimum coverage, the average annual cost is $434, and the average monthly cost is $49.

The cheapest car insurance companies in New Hampshire include USAA, MMG Insurance, Auto-Owners Insurance, Geico, and Safety Insurance. USAA offers the cheapest rates on average, with annual premiums of $738 for full coverage and $297 for minimum coverage. However, it is important to note that USAA is only available to military members, veterans, and their families.

The cost of car insurance in New Hampshire is generally lower than in many other states, and the state has a low rate of uninsured drivers. While car insurance is not legally required in New Hampshire, it is highly recommended, and drivers who choose to purchase coverage must meet the state's minimum requirements.

Average Cost of Car Insurance in New Hampshire

Car insurance in New Hampshire is cheaper than in many other states. The average cost of car insurance in the US is $2,329 per year for a full-coverage policy, whereas New Hampshire drivers pay an average of $1,618 annually. The average monthly cost for a state minimum coverage car insurance policy is $31, while that for full coverage is $61.

The cost of car insurance in New Hampshire varies by company. For instance, Hanover offers the cheapest full coverage annually at $479, while Allstate has the highest average premium at $1,086.

The cost of car insurance in New Hampshire also depends on the type of coverage selected. Minimum coverage costs around $31 monthly, while full coverage with a $1,000 deductible averages at $61 monthly.

The cost of car insurance in New Hampshire also varies by city. Manchester, the state's largest city, is the most expensive, with average rates of $89 per month. Georges Mills is the cheapest, averaging $112 per month.

Age is a critical factor in determining the cost of car insurance in New Hampshire. Younger drivers typically pay higher rates than older drivers. For example, 16-year-old male drivers pay an average of $1,898 per year, while 35-year-old drivers pay an average of $592 to $724 per year.

The cost of car insurance in New Hampshire also depends on the driver's record. Drivers with a clean record pay lower rates, while those with a speeding ticket, accident, or DUI on their record pay higher rates. For example, drivers with a DUI on their record pay an average of $2,461 per year.

Credit score also influences the cost of car insurance in New Hampshire. Drivers with poor credit pay higher rates, as they are considered more likely to file a claim.

Cheapest Car Insurance Companies in New Hampshire

While car insurance is not a legal requirement in New Hampshire, drivers must show proof of financial responsibility in the event of an accident. This can be done by depositing $75,000 in cash or securities with the state treasurer, but most drivers opt for car insurance as it is an easier way to demonstrate financial responsibility.

The average cost of full coverage insurance in New Hampshire is $1,618 per year, while the average cost of minimum coverage car insurance is just $434. Both of these figures are lower than the national average.

The cheapest car insurance companies in New Hampshire are MMG, The Hanover and USAA.

Cheapest Company for Minimum Coverage

MMG offers the cheapest rates for minimum coverage, with an average annual premium of $251.

Cheapest Company for Full Coverage

MMG also offers the cheapest rates for full coverage, with an average annual premium of $1,619.

Cheapest Company for Drivers with Prior Incidents

The cheapest car insurance for drivers with a speeding ticket, an at-fault accident or a DUI is The Hanover.

Cheapest Company for Young Drivers

The cheapest car insurance for young drivers is The Hanover, with an average annual premium of $1,868 for 17-year-old females and $2,011 for 17-year-old males.

Cheapest Car Insurance for Different Types of Drivers

While car insurance is not mandatory in New Hampshire, drivers are required to demonstrate financial responsibility in the event of an accident. The cheapest car insurance companies in the state are MMG, The Hanover, and USAA. The average cost of full coverage insurance in New Hampshire is $1,618 per year, while the average cost of minimum coverage is $434.

Cheapest Car Insurance for Minimum Coverage

MMG offers the lowest rates for minimum coverage in New Hampshire, with an average annual premium of $251. Other affordable options include Encompass ($323), Concord Group ($327), Patriot Insurance ($327), and Geico ($352).

Cheapest Car Insurance for Full Coverage

MMG also offers the lowest rates for full coverage, with an average annual premium of $913. Other affordable options include Encompass ($1,002), Concord Group ($1,021), Nationwide ($1,048), and Geico ($974).

Cheapest Car Insurance for Drivers with Prior Incidents

The Hanover offers the cheapest rates for drivers with a speeding ticket ($255), an at-fault accident ($379), and a DUI ($422). For drivers with poor credit, Geico ($1,451) and Concord Group ($1,461) are more affordable options.

Cheapest Car Insurance for Young Drivers

The Hanover offers the lowest rates for teen drivers, with an average annual premium of $1,898 for a 16-year-old male added to a family policy. For 17-year-old drivers, Auto-Owners Insurance offers the best rates, with an average annual premium of $1,868 for females and $2,011 for males.

For 25-year-old drivers, State Farm offers the lowest rates, with an average annual premium of $893 for females and $1,031 for males.

Cheapest Car Insurance by City

The cost of car insurance in New Hampshire can vary depending on the city. Residents of Keene, Concord, and Laconia typically pay lower rates, while those in Nashua and Manchester pay higher premiums.

Car Insurance Discounts in New Hampshire

There are a variety of car insurance discounts available in New Hampshire, depending on the insurance provider. Here are some of the most common discounts:

• Multi-policy discount: You can get a discount for adding another policy like home or life insurance to your auto insurance.
• Multi-vehicle discount: Insuring multiple cars with the same company can also get you a discount.
• Military discount: Some companies offer discounts for veterans and active-duty military members.
• Senior discount: Drivers who are 55 or older can get a discount from some insurance providers.
• Homeowner discount: You may qualify for this discount if you own a home.
• Good student discount: Students under 25 who maintain a B average can get this discount.
• Good driver discount: You can save money by maintaining a good driving record.
• Defensive driving discount: Those who take a qualifying defensive driving course can get a discount.
• Driver training discount: Young drivers who take a driver education training course can get this discount.
• New car discount: This discount is available for cars under three model years old.
• Safe car discount: This may apply if your car has safety features like anti-theft technology.
• Paperless discount: You can receive a discount if you choose to get your documents through email.
• Pay-in-full discount: You can save on car insurance by paying your entire six-month or annual premium upfront.

Companies with the Best Car Insurance Rates in New Hampshire

New Hampshire is one of the few states in the U.S. that does not legally require car insurance. However, drivers must demonstrate their financial capability to cover costs in the event of an at-fault accident. While car insurance is not mandatory, it is still a prudent decision to protect your finances in unforeseen circumstances. Here is a list of companies offering competitive rates in New Hampshire:

USAA

USAA offers some of the lowest rates in New Hampshire, with an average annual premium of $738. However, it is important to note that USAA policies are exclusive to military personnel, veterans, and their families.

Auto-Owners Insurance

Auto-Owners Insurance is a strong contender for drivers seeking affordable rates. Their average annual premium is $758, making them a competitive choice for those who do not qualify for USAA.

State Farm

State Farm is known for its excellent customer service and scored well in the J.D. Power Auto Insurance Study. They offer a range of discounts and have local agents across New Hampshire to assist with policy needs.

Geico

Geico is recognized for its low rates and has a long list of potential discounts, including defensive driving, new car, and government employee discounts. They received a high Bankrate score and are a top choice for those seeking a streamlined digital experience.

Progressive

Progressive stands out for its user-friendly features, such as the Name Your Price tool, which allows customers to find policies within their budget. They also offer a mobile app and 24/7 customer service.

MMG Insurance

MMG Insurance is a reputable local insurance provider in New Hampshire, offering personalized service. They have an excellent financial strength rating from AM Best and provide various savings opportunities through their Driver Advantage program.

When choosing an insurance company, it is essential to consider your unique needs and circumstances. Compare quotes from multiple providers and evaluate their coverage options, discounts, and customer service to find the best fit for your situation.

Frequently asked questions