New Hampshire is a state where drivers enjoy insurance costs that are well below the national average, which is $1440 compared to the state average of $1,150 for annual auto insurance premiums in 2011.
Annual Changes
Rates fell 8% in 2011 compared to the same period in 2010 which follows a decrease of 21% between 2009 and 2010. New Hampshire auto insurance rates are set by insurers themselves, and since there are no regulations or fixed prices it is impossible to predict whether rates will continue to fall. As rates can easily change during the course of a single year, drivers are advised to check our site for information on prices in New Hampshire to make sure they are getting the best rates for coverage.
Seasonal Changes
New Hampshire insurance rates were stable in 2010, except for a steep drop in September that brought the average rate down to $926 before it rose again to end around the 2011 level of $1,150. Some drivers who were aware of the September price reduction were able to change their policies and lock in the lowest rate for a year or more, so that it is highly advised to monitor price trends and obtain frequent quotes.
Insurance Requirements
Actually, New Hampshire has no requirement for auto insurance, but it does require proof of sufficient assets to cover damages from drivers who choose not to purchase insurance. As New Hampshire is a tort system state, where one party must be judged responsible for any accident, and that party is in turn held liable for the entire cost of the accident, most drivers elect to purchase auto insurance. Since drivers must prove that they are able to cover $25,000 in bodily damages per person, $50,000 in bodily damages per accident and $25,000 in property damage, these are the recommended minimum amounts for insurance coverage in New Hampshire. As New Hampshire drivers must also provide $1,000 minimum medical payments in the event of an accident, a medical coverage provision is included in New Hampshire policies. Given this system of optional coverage, the uninsured and underinsured motorist insurance that is available in the state is highly recommended. In addition, most drivers are advised to insure themselves for limits far higher than the minimum threshold of responsibility.
Advice for Getting the Best Deals
Regional and national insurers compete on the New Hampshire auto insurance market. There is no company that consistently provides the best rates as each company uses different ways to compute the rates for different drivers and cars. Experts recommend obtaining multiple quotes from reliable insurance companies which are rated A or higher by A. M. Best. In addition, it is advised to check J. D. Power ratings for consumer service related information.
New Hampshire drivers are advised to use this site as their most reliable resource for checking insurance rates and obtaining multiple quotes, so that they can always obtain the lowest car insurance rates.
