How Much Is Car Insurance in New Hampshire? (2023 Averages)
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The cost of car insurance varies widely based on the chosen coverage level and driver profile. The average cost of full coverage car insurance in New Hampshire is $778 per year. Drivers who opt for a minimum coverage policy only pay around $430 per year. The cost of policies is much more expensive for drivers with a violation on their record at around $905 per year. Adding a young driver to a policy is likewise expensive, averaging $2,258 annually.
In addition to the above factors, the provider you choose also affects the cost. In New Hampshire, a full coverage policy from Progressive costs an average of $593 per year. Meanwhile, the same coverage from Allstate costs around $924 per year.
The Average Cost of Car Insurance in New Hampshire
MoneyGeek broke down the average cost of auto insurance in New Hampshire based on factors that can affect your rates the most. This includes factors such as age, coverage level, driving record and even credit score.
The most significant factors that can affect premiums in New Hampshire are your age and poor credit score.
Learning more about how average costs of car insurance in New Hampshire vary based on individual circumstance can help you find the best coverage and price for your needs.
Average Costs of Car Insurance in New Hampshire
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- DriverAverage Annual PremiumAverage Monthly Premium
- The Average Driver$778$65
- Drivers Buying Minimum Coverage$430$36
- Adding a Young Driver$2,258$188
- Drivers With a Violation$905$75
- Drivers With Poor Credit$1,274$106
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Why Are Car Insurance Rates Cheap in New Hampshire?
New Hampshire has some of the cheapest car insurance rates compared to other states thanks to the low percentage of uninsured motorists and vehicle theft.
Only six percent of drivers in New Hampshire are uninsured. This reduces the risk of insured drivers’ policies covering accidents because of the uninsured. In turn, this decreases the likelihood of insurance providers covering these accidents. The state also ranks within the bottom three across the country for motor vehicle theft, which plays a role in the low annual premiums in New Hampshire.
Average Cost of Car Insurance in New Hampshire: Full Coverage vs. Minimum Coverage
The average cost of full coverage car insurance in New Hampshire (100/300/100 in liability limits) is $778 per year, while a policy following state minimums costs an average of $430.
The difference between these two policies is $349, but keep in mind that rates can change based on your desired coverage level. For instance, you can opt for more than the minimum required liability limits by purchasing comprehensive and collision insurance, which can cost more but also give you additional protection.
Average Cost of Car Insurance in New Hampshire by Coverage Level
Drivers who want the most affordable car insurance may opt for a policy that only meets the minimum requirements. A state-minimum policy in New Hampshire has 25/50/25 coverage limits.
- $25,000 in bodily injury liability per person
- $50,000 in bodily injury liability per accident
- $25,000 in property damage liability
The above-indicated liability coverage limits are the minimum required in New Hampshire. However, in case of serious accidents, this coverage may not be enough. You can increase your liability coverage to 50/100/50 or 100/300/100. These numbers refer to the levels of liability coverage in the policy.
Drivers who want more coverage should opt for a full coverage policy that includes comprehensive and collision coverage on top of the standard liability coverage. This means that damage to your own vehicle is included in the policy, in addition to third-party liability coverage.
Average Cost of Car Insurance in New Hampshire By Company
Insurance providers play a role in the cost of car insurance as they can offer varying rates. For example, the cheapest liability-only auto insurance policy in New Hampshire is offered by Amica Mutual at $304 per year, while the most expensive is from MetLife at $734.
On the other hand, Progressive offers the most affordable full coverage car insurance at $593 per year, while MetLife also has the most expensive at $1,238.
USAA also offers affordable rates at $204 for minimum coverage policies and $435 for full coverage policies, but they only offer their services to military families.
Average Annual Costs of Car Insurance in New Hampshire - By Company
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- CompanyMinimum CoverageFull Coverage
- $204$435
- $356$593
- Concord Group$337$595
- $304$645
- $330$654
How Much Is Car Insurance in New Hampshire by Age?
Age is a major factor that contribute to expensive car insurance rates in New Hampshire. For instance, auto insurance for teens can get costly as providers consider them risky drivers.
Case in point, a policy for a 16-year-old can cost an average of $2,258 per year — $1,480 more than the cost to insure a car for a 40-year-old driver. Fortunately, teens can be added to their parents auto policy which will save more money annually compared to a teen with their own policy.
New drivers in New Hampshire also receive similar rates to teens, as auto insurance for first-time drivers is high due to the lack of driving experience.
Average Costs of Full Coverage Car Insurance in New Hampshire - By Age
How Does Driving History Affect Car Insurance Costs in New Hampshire?
Drivers with a number of accidents or violations are viewed as high-risk by insurance providers, which can significantly increase auto insurance premiums. The more severe the violation is, the higher the insurance costs you will likely pay.
MoneyGeek’s analysis shows that receiving a speeding ticket in New Hampshire can increase your annual premium by $127 from $778, while a DUI can increase it by $576.
Note that it’s still possible to find affordable car insurance with a bad driving record, but a thorough comparison of premiums is needed to identify the best one for your situation.
Average Costs of Full Coverage Car Insurance in New Hampshire - By Driving History
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- Driving ViolationAnnual Premium
- Safe Driver$778
- Speeding Ticket$905
- At-Fault Accident$1,083
- DUI$1,354
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Credit Scores and the Cost of Car Insurance in New Hampshire
Insurers in New Hampshire use your credit score as one of the factors to determine your premiums. The better your score is, the lower your premium. For instance, drivers in New Hampshire with an excellent credit rating pay $125 less than those with a good credit rating.
In contrast, a poor credit rating can lead you to pay more in annual premiums. Car insurance for drivers with bad credit costs an average of $1,274 per year in New Hampshire, which is $508 more than if they had a good credit rating.
Average Costs of Full Coverage Car Insurance in New Hampshire - By Credit Score
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- Credit ScoreAnnual Premium
- Excellent$641
- Good$766
- Fair$904
- Below Fair$1,065
- Poor$1,274
How Much Is Car Insurance in Your City?
Insurance costs can vary greatly within different cities and states due to various external factors that affect the location. For example, urban areas and densely populated cities are more likely to have costly auto insurance rates as there is a higher chance of accidents. Likewise, areas that are susceptible to natural disasters such as earthquakes and floods are also liable to have more expensive rates.
MoneyGeek’s analysis on average car insurance costs in New Hampshire profiled the city of Manchester, which features the same annual average of $778 as the state.
Average Costs of Full Coverage Car Insurance in New Hampshire - By City
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- CityAnnual Premium
- $778
Frequently Asked Questions About New Hampshire Car Insurance Rates
To help drivers who are interested in getting insured, MoneyGeek answered a few commonly asked questions on auto insurance in New Hampshire.
About Mark Fitzpatrick
