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New Hampshire Car Insurance – A “No fault” Car Insurance State
If you live in the beautiful state of New Hampshire, then you have the privilege of being a resident of the only state in the entire United States that does not require its drivers to have New Hampshire car insurance. At first glance, you might look at this as a blessing, but when you stop and think about it, you will realize it’s not, nor is it a reason to take advantage of the state’s tax policy.
Despite the lack of car ins rules, New Hampshire is not a “no fault” car insurance state. Instead, it is a “tort” state. What this means is, in the event of an accident, if you are found to be “at fault” – meaning that you caused the accident. You will be responsible for paying all of the fines and fees, including both medical expenses and damages incurred. If you don’t have auto ins, it will then fall on you to pay these amounts out of pocket. Most people don’t have that kind of money just lying around. You can be subject to litigation and damage to your credit if you are unable to pay.
New Hampshire Car Insurance Requirements
The interesting thing about New Hampshire car insurance is that, even though you are not required to have auto insurance, if you do possess it, then you must maintain certain minimum requirements. So, if you opt for coverage, you are required to possess at least $25,000 in liability insurance for an accident in which one person is injured. $50,000 in liability insurance for an accident in which more than one person is injured. $25,000 in general property damage coverage, $1,000 in medical payments coverage, and uninsured motorist coverage in amounts that are equal to all of the other categories previously listed. If you’re going to opt for car insurance in a state that doesn’t require it, however, you’re better off to go ahead and extend your policy amounts. You will be adequately protected in the event of an accident. Otherwise, you are paying for coverage that is virtually useless when you need it.
Average New Hampshire Car Insurance Rates
While certainly, not everyone opts for automobile insurance in the state, those that do typically pay an average of approximately $1,371 per year. This is only slightly below the national average of $1,440 per year. However, if you are diligent about searching for the right auto insurance company and have a good risk profile, you can end up paying well below the average auto insurance rates.
New Hampshire Car Insurance Discounts
Aside from choosing the right provider, there are a few other things that you can do to lower your auto ins rates in New Hampshire. One of the biggest ways to save on premiums is to qualify for different discounts offered by most auto insurance companies in the state.
One such discount is the “safe driver’s discount,” given to those individuals who have not had any car accidents or ticket offenses within a timeframe set by the ins provider. If you qualify for such a discount, you can save as much as 45% on automobile insurance. Even if you do not, some providers will allow you to qualify for this discount. If you complete a driver’s education course or a defensive driving class, depending on the offenses, you have on your driving record.
Another discount is the “early signing” discount. This discount is offered to those drivers who switch New Hampshire car insurance policies before their former policies have run out. This is a smaller discount and will generally only save you around 10% off your premium, but it can come in handy when you’re pinching pennies.
If you are a minor or have a student under the age of twenty-five on your car policy, you can qualify for a “good student discount” with most providers. The student in question, in addition to meeting the age requirement, must possess at least a “B” grade point average and be enrolled full or part-time in a college or university. This discount can save up to 20%.
Of course, not all discounts are offered by all providers or carry the same weight. Therefore, you should talk to your company about the discounts it offers and your eligibility for them.
From car insurance comparison to car insurance discounts, there are many ways to find affordable auto insurance. The most important thing to do is compare multiple New Hampshire car insurance quotes before selecting a provider.