New Hampshire Auto Insurance Requirements
New Hampshire Motor Vehicle Laws do not require you to carry Auto Insurance, but you must be able to demonstrate that you are able to provide sufficient funds to meet New Hampshire Motor Vehicle Financial Responsibility Requirements in the event of an “at-fault” accident. Auto insurance coverage requirements in New Hampshire to meet financial responsibility are mandated by state law and the New Hampshire Insurance Department. The following minimum coverage is required on every registered vehicle, except as noted below:
(Source: New Hampshire Department of Insurance)
Driving without the mandatory liability insurance in New Hampshire is an “A” infraction for the first offense, and could theoretically result in a $10,000 fine and 90 day suspension of driving privileges, with a $150 reinstatement fee, and license points. Subsequent offenses are classed as misdemeanors and subject to higher fines, reinstatement fees, and jail time.
The New Hampshire Automobile Insurance Plan is available to drivers who are unable to obtain required coverage through the voluntary market. More information is available on the AIPSO website.
Factors Influencing Car Insurance Premiums in New Hampshire
Getting a quote for cheap car insurance in New Hampshire requires some research and rate comparisons between different insurance companies, even though New Hampshire ranks below national averages for car insurance costs. Some factors that impact insurance rates in New Hampshire include:
– New Hampshire requires PIP at a $1,000 minimum
– Vehicle repair costs are generally more expensive in New Hampshire than elsewhere
– Overall accident fatality rates are lower than national averages
– A lower percentage of uninsured drivers compared to national averages
– Auto insurance fraud
– Vehicle theft rates well below national averages
The average auto insurance premium for residents in New Hampshire is $1,334 in 2011; the national average is $1,790.
Tips for Obtaining Cheap Car Insurance in New Hampshire
– If you’re over 55, take a state-approved defensive driving course for a policy discount
– Several insurance companies offer “pay as you drive” car insurance for low mileage drivers in New Hampshire
– Maintain a good driving record
– Bind multiple policies (homeowners, life, auto) with the same provider
– Maintain a good credit score
– Create a personal “emergency fund” of up to $1500 and increase deductibles accordingly
– Discuss affinity discounts with your insurance provider
– Drop comprehensive and collision insurance on older vehicles
New Hampshire Statistics
– Auto Theft: New Hampshire has a low vehicle theft rate which has remained relatively constant over the past 10 years. This can be attributed primarily to anti-theft devices being standard on recent model cars, as well as public awareness of the issue:
(Source: Auto Thiefs)
– Automobile Accidents: The total vehicle miles traveled in New Hampshire has remained relatively constant in recent years, but vehicle accident fatality rates have declined somewhat. New Hampshire is below the national average in numbers of deaths in car crashes.
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