While most states will require every driver to carry a specified minimum amount of auto insurance, New Hampshire is one of the dwindling numbers of places where you don't technically have any coverage at all! For most of us, however, knowing that a fender bender on the way to the SeaCoast for mussels or to Manchester for a hockey game won't leave us in the poor house is reason enough to have a policy in place. Though there is certainly something to be said for the individual freedom to choose whether or not you want insurance, here are some facts about New Hampshire auto insurance, quotes, and minimum coverage amounts that will help you decide what policy is right for you.
Driving without Insurance
Though not required in New Hampshire, auto insurance is still a precaution worth serious consideration. If you opt to drive without insurance, you are required by law to meet the New Hampshire Motor Vehicle Financial Responsibility Requirements; uninsured drivers who get into an accident where they are deemed "at fault" must be able to pay for damage to the other vehicle (and the people in it) out-of-pocket. This, as you can imagine, can be a significant financial burden, and may also result in suspended license if you fail to pay.
Even if you are in an accident that is not your fault, failure on the other party's part to have adequate coverage could leave you with huge medical and repair bills! Since the possibility of any of these scenarios is frightening, it generally pays off to at least consider buying a minimal amount of insurance to make sure an accident doesn't end up ruining more than your day!
New Hampshire Auto Insurance Options
Obviously, it is often the case that different companies will give you different quotes for the same amount of coverage. Some companies might offer extremely low quotes on the minimum amount of liability insurance (policies that handle the other party's expenses when an accident is deemed your fault) but charge higher-than-average rates for more comprehensive coverage; other companies might offer the exact opposite.
When dealing with the bare minimums for liability coverage, all New Hampshire auto insurance quotes are based on a 25/50/25 model; this means that when an accident occurs and you are at fault, your insurance company will pay the other party up to $25,000 per person for bodily injury, up to $50,000 for the bodily injuries of 2 or more people, and up to $25,000 for property damage.
Those who want their own vehicle covered in the event of an accident will have to purchase collision insurance. Further protection can be added in the form of comprehensive insurance, which covers non-collision incidents such as theft, fire, or hail. Both of these types of coverage are often required by lenders when you purchase a vehicle using a loan. Additional auto insurance that covers towing and rental reimbursement (used when your vehicle cannot be driven due to lengthy repairs) is also available.
What Affects New Hampshire Auto Insurance Quotes
In New Hampshire, auto insurance quotes are affected by many factors that focus on where you live, the kind of car you drive, and your personal driving and credit history. Living in a rural area, driving a car that is relatively inexpensive to repair, having a good credit history, and having a clean driving record will all play a factor in lowering your premiums, while living in a more urban setting, driving a vehicle that is expensive to repair, having a commute distance that is higher than average, and requesting a low deductible (the amount you pay out-of-pocket for repairs) will all raise premiums.
Of course, there's an easy way to make sure you are getting the best price on your auto insurance. New Hampshire residents looking to lower premiums or those who are purchasing auto insurance for the first time should make it a priority to get quotes from several different insurance providers. The more companies you get quotes from, the better your chances of finding the coverage you want for a price you can afford!