Cheapest Car Insurance for Low-Income Drivers in New Hampshire (October 2024)


The cheapest car insurance for individual drivers with low-income and poor credit in New Hampshire is Hanover at $16 per month. For families with low-income, the most affordable option is Concord Group at $44 per month.

New Hampshire does not offer state-backed car insurance programs for low-income families and individuals. However, managing the cost of car insurance can be done by looking for the provider with the most affordable rate and seeking out discounts.

While minimum coverage will help you drive legally, it has its downsides. For example, in an at-fault accident, it may not cover all the damages, leaving you responsible for the excess costs.

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Cheapest for Individuals With Low Income

Hanover is the cheapest car insurance provider for individual drivers with low-income and poor credit history in New Hampshire with an average minimum coverage premium of $16 per month or $187 per year.

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Cheapest for Families With Low Income

Concord Group is the cheapest car insurance provider for families with low-income in New Hampshire with an average minimum coverage premium of $44 per month or $524 per year.

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Cheapest for Senior Drivers With Low Income

Hanover is the cheapest car insurance provider for seniors with low-income and poor credit score in New Hampshire with an average minimum coverage premium of $15 per month or $184 per year.

Why Trust MoneyGeek? We analyzed thousands of data points and quotes from Quadrant Information Services and the New Hampshire Department of Insurance to get the cheapest average costs for low-income drivers of New Hampshire.

12,158Quotes Analyzed
 
11Companies Compared
 
13ZIP Codes

Does New Hampshire Offer Low-Income Insurance?

Car insurance companies in New Hampshire do not consider your income when calculating rates. Instead, they look at factors like your age, driving record, credit history, and the type of car you drive. At-fault accidents and moving violations can increase your rates significantly, so it's important to maintain a clean driving record.

The best way to find the cheapest rates is to compare quotes from several insurance companies. This allows you to see which insurer offers the best deal for your specific situation. If your budget is tight, opting for a basic minimum coverage policy is often the most affordable way to stay legal on the road. New Hampshire also offers pay-per-mile insurance, which can be a great option for drivers who rarely drive.

MoneyGeek rounded up the cheapest insurers for low-income drivers in New Hampshire to help you save.

Minimum Car Insurance Requirements in New Hampshire

To legally drive in New Hampshire, you must carry state minimum car insurance that meets the minimum car insurance requirements. Your policy should include the following coverage amounts:

  • $25,000 for bodily injury liability per person.
  • $50,000 for bodily injury liability per accident.
  • $25,000 for property damage liability per accident.
  • $25,000 uninsured motorist bodily injury per person.
  • $50,000 uninsured motorist bodily injury per accident.
  • $25,000 uninsured/Underinsured property damage coverage.
  • $1,000 medical payments coverage.

Different types of policies are available to suit various needs and budgets. A liability-only car insurance is more affordable and covers expenses for the other driver if you're at fault in an accident, but it doesn't cover your own vehicle. For broader protection, including your vehicle, full coverage car insurance is necessary. It encompasses both collision and comprehensive coverages, safeguarding against a range of non-collision events.

In scenarios like New Hampshire's snowy winters, opting for full coverage is wise. It protects against damages from weather-related incidents. Understanding the different coverages helps you weigh the risks and benefits, ensuring you select the right insurance for your situation.

Cheapest Car Insurance for Individuals With Low Income in New Hampshire

Your credit record can affect your car insurance rates in New Hampshire. A lower credit-based insurance score may signal to insurers that you're a higher risk, which can lead to more expensive premiums.

New Hampshire drivers with poor credit records can find affordable rates with:

  • Hanover: $187 per year; $16 per month
  • Vermont Mutual: $341 per year; $28 per month

The cheapest car insurance in New Hampshire for low-income drivers with a good credit history are:

  • Hanover: $133 per year; $11 per month
  • Vermont Mutual: $287 per year; $24 per month

Driving without insurance in New Hampshire is considered a misdemeanor and can lead to suspension of your driver's license and vehicle registration, fines ranging from $175 to $1,000 and other penalties. Make sure you're covered to drive legally and safely.

Data filtered by:Results filtered by:
Credit Score:
Credit Score:Poor
Hanover$187$16
Vermont Mutual$341$28
Safety Group$345$29
MAPFRE$411$34
Progressive$493$41
Concord Group$521$43
GEICO$566$47
Nationwide$772$64
Allstate$849$71
State Farm$1,013$84
Compare Auto Insurance Rates

Ensure you're getting the best rate for your auto insurance. Compare quotes from the top insurance companies.

Cheapest Car Insurance for Families With Low Income in New Hampshire

While your income doesn't change car insurance rates, being a single parent can. In New Hampshire, single parents with a teen see annual premiums around $1,009, whereas married couples with a teen can secure rates as low as $524 annually. This means single parents could be paying nearly $485 more each year.

For married couples with a teen, the most affordable car insurance companies are:

  • Concord Group: $524 per year; $44 per month
  • State Farm: $682 per year; $57 per month

For single parents with a teen, the cheapest options are:

  • Concord Group: $1,009 per year; $84 per month
  • State Farm: $1,063 per year; $89 per month

The difference in rates reflects the insurance industry's risk assessment, which often sees single parents as having a higher risk profile. Keeping a solid credit score is key for anyone looking to reduce their car insurance expenses, as it is one of the factors insurers consider when determining premiums.

Data filtered by:Results filtered by:
Family Type:
Family Type:Married Couple with Teen
Concord Group$524$44
State Farm$682$57
GEICO$798$66
Allstate$819$68
Nationwide$821$68
Progressive$1,095$91

Cheapest Car Insurance for Seniors With Low Income in New Hampshire

Car insurance premiums generally decrease as you reach the early senior years (typically around age 55 to 65), especially if you have a clean driving record.

The two cheapest car insurance for senior drivers with low-income and poor credit history are:

  • Hanover: $184 per year; $15 per month
  • Vermont Mutual: $322 per year; $27 per month

After the age of 70, car insurance rates typically increase, as older drivers are statistically considered higher risk. This trend continues each year, meaning premiums generally rise as seniors age. Seniors in New Hampshire should also be aware of any specific laws or guidelines for obtaining car insurance.

Data filtered by:Results filtered by:
Credit Score:
Credit Score:Poor
Hanover$184$15
Vermont Mutual$322$27
Safety Group$338$28
MAPFRE$403$34
Concord Group$515$43
Progressive$523$44
GEICO$638$53
Nationwide$736$61
Allstate$906$76
State Farm$956$80
Compare Auto Insurance Rates

Ensure you're getting the best rate for your auto insurance. Compare quotes from the top insurance companies.

What Factors Affect Car Insurance Rates in New Hampshire?

Many factors influence car insurance rates. Although your income doesn't affect the price directly, you might pay more if a low income leads to a poor credit record. Understanding these factors can help you find the best car insurance for your needs.

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    Driving record

    At-fault accidents and moving violations can increase car insurance rates significantly. Safe driving can help keep your premiums lower.

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    Age and gender

    Younger drivers and males typically pay higher rates due to higher risk factors. Older and female drivers often benefit from lower premiums.

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    Credit history

    A poor credit history can lead to higher car insurance rates. Insurers use credit-based insurance scores to assess risk.

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    Location

    Urban areas with high traffic and crime rates often have higher car insurance premiums than rural areas.

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    Vehicle type

    Luxury cars and sports cars usually cost more to insure due to higher repair costs and theft rates.

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    Coverage levels

    Higher coverage levels mean higher premiums. Minimum coverage is cheaper but offers less protection.

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    Insurance company

    Different insurers have unique underwriting methods and discounts. Comparing quotes can help you find the best rate.

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    Claims history

    A history of filing a claim can lead to higher rates as it indicates a higher risk to insurers. In fact, if you can afford to pay for your own repairs, it might pay not to file a claim.

How to Save on Car Insurance in New Hampshire

There are several ways to find affordable car insurance in New Hampshire. Some drivers may benefit from state-sponsored programs designed for low-income residents. These options can help you meet the state minimum coverage requirements without breaking the bank.

Here are some tips to lower your car insurance premiums:

  1. 1
    Choose minimum coverage

    Opting for state-mandated minimum coverage allows you to save on premiums while still meeting legal requirements to drive. This can be a cost-effective way to ensure you have the necessary protection.

  2. 2
    Comparison shop

    Getting quotes from multiple insurers helps you compare rates and discounts. Shopping locally might lead to the lowest rates in, providing you with the best savings.

  3. 3
    Look for discounts

    Many insurance companies offer discounts. You may save by being a good student, having a safe driving record, being a military member, or bundling your auto insurance with other policies.

  4. 4
    Increase your deductible

    Opting for a higher car insurance deductible can significantly reduce your monthly premium. Ensure you can afford the deductible in case of an accident.

  5. 5
    Consider pay-per-mile insurance

    If available in New Hampshire, pay-per-mile is a great option if you're a low-mileage driver. You pay a base rate plus a per-mile fee, so you only pay for the miles you drive.

  6. 6
    Bundle your policies

    Bundling your auto policy with homeowners or renters insurance can often lead to discounts. The best home and auto bundles can save you around $496 each year.

  7. 7
    Drive a cheaper car

    Your car's make, model, and year impact your insurance costs. Driving the cheapest cars to insure can save you hundreds of dollars each year.

FAQ: Low-Income Car Insurance in New Hampshire

Finding affordable car insurance in New Hampshire can be tough for drivers with low incomes. Here are answers to some of your most common questions on how to save.

Does New Hampshire have a state-supported low-income car insurance program?

How can low-income families get affordable car insurance in New Hampshire?

Does your income affect the cost of car insurance in New Hampshire?

What are the benefits of usage-based telematics programs for drivers with low income in New Hampshire?

About Mark Fitzpatrick


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Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.

Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.