Although the state of New Hampshire does not require drivers to carry auto insurance, if you are at fault in an accident and don’t have coverage, you will be required to post a bond or cash to cover any damage you caused. You will also have to satisfy New Hampshire’s Financial Responsibility Requirements before you can resume driving. The minimums are similar to other states’ insurance minimums, such as Bodily Injury at $25,000 per person, $50,000 for 2 or more persons, and Property Damage of $25,000. Also, neighboring states will require you to carry auto insurance to legally drive in their state, even if you are not a resident of their state and are simply driving through on vacation. For these reasons, and for your own financial well-being in the event of an accident, it’s a good idea to obtain car insurance, even though it’s not required.
Average premiums rates in New Hampshire
For 2009, the average car insurance premium New Hampshire residents $1,632 in 2009, below the national average of $1,794. This represents an increase of 20 percent from 2008 rates, making this the perfect time to shop around to compare rates. With rates increasing this quickly, you may find that you are overpaying. With just a few minutes of research, you could find yourself saving hundreds of dollars.
Shopping online
Regardless of where you live, you can usually find the best rates by comparison shopping online. By having your important information handy, such as driving record and average miles driven, you can obtain quotes from several different companies in a few minutes. This lets you easily compare rates and coverages across companies without having to spend the day calling different insurance agents. You can also compare the impact that increasing or decreasing your deductibles and coverage amounts will make on your premiums.
Buying a policy
Once you have found the best rate and coverage combination, some companies will allow you to purchase the policy through their web site, saving you a special trip to the agent’s office. Other companies do require you to sign paperwork or have the agent review your car for existing damage. If this is the case for your chosen company, check to see if they offer flexible hours or if the agent is willing to meet you at work or home for your convenience. Seeing in advance how flexible a company is, and how much they want to provide a high level of customer service, may help you determine whether this is the best company for you. If a company does not want to provide good service in order to get your business, consider whether the level of service they will provide later when you have a question or a claim.
Coverage amounts
Because NH car insurance is not required, you have a lot of flexibility when it comes to your coverage amounts. However, you must keep in mind whether you would be able to pay any damages if you are involved in an at-fault accident. Consider how much you could be liable for in the way of property damage or medical payments in even a small accident, as both can add up quickly.
The best car insurance in NH can be located, it will just take some research on your part. For your own vehicle, if you have a car loan, your finance company may determine required coverage amounts or deductibles, to protect their investment. Otherwise, you can determine whether a higher deductible is worth the lower premium; just make sure you can afford the higher deductible in the event of an accident, or you may find yourself unable to afford to fix or replace your car. If you have an inexpensive car, you may find it’s not worth carrying comprehensive insurance or collision coverage; talk to your agent about the costs and benefits of each.
Tags: Auto Insurance, car insurance in nh, nh car insurance, nh car insurance law
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