How Much Does Car Insurance Cost for Drivers Under 21 in New Hampshire?

Wouldn’t it be excellent if you could just magically know the one company that has the lowest rates for drivers under 21? It’s not that easy, however, as there are many unknown elements like your financial stability, if you are married or single, if you currently have coverage, and if you rent or own your home, that all impact the price you pay. We know insurance is not everyone’s favorite topic, but in this article we will cover the best ways to compare rates and hopefully give you enough understanding to have a good beginning to your search for cheaper coverage.

Comparing rates for cost effective auto insurance is not most people’s favorite thing to do, and finding out which insurers offer the cheapest auto insurance rates for drivers under 21 takes a bit more work. Premiums will be quite a bit greater than the average policy in New Hampshire because of the extra risk that goes along with selling coverage for minors, but reasonable insurance should be available if you find the right company. Each insurer has a different formula for establishing rates, so to begin we’ll rank the auto insurance companies that tend to be cheaper in New Hampshire.

Best Auto Insurance Prices for Minors

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Travelers quotes some of the lowest car insurance rates in New Hampshire at around $702 each year. Concord, Patriot, USAA, and Vermont Mutual also are some of the best New Hampshire auto insurance companies.

In the rate table above, if you are a policyholder with USAA and switched to Concord, you could realize an annual savings of in the vicinity of $108. Policyholders with Vermont Mutual might save as much as $179 a year, and Amica insureds might lower prices by up to $204 a year.

If you would like to find cheap insurance for drivers under 21 in New Hampshire, click here to start your custom quote or quote prices from the following companies.

Be aware that those premium estimates are averages for all ages of drivers and types of vehicles and are not factoring in a rate surcharge for drivers under 21. So the car insurance company that can offer the best rates for your situation may not even be featured in the list of companies shown earlier. That illustrates why you need to get quotes using your own personal information and vehicle type.

When buying car insurance for minors, one of the key components that play a part in determining the price of your policy is where your home is located. Cities with more crime and/or more people like Manchester, Pinardville, and Exeter are more likely to have higher rates, whereas areas with less congestion benefit from having to pay less for coverage.

The next table illustrates the most costly cities in New Hampshire for drivers under 21 to purchase car insurance in.

Annual rates are estimated as the garaging address in New Hampshire can decrease or increase coverage prices noticeably.

The type of vehicle to be insured is probably the biggest factor when quoting the best auto insurance for drivers under 21. Vehicles with economical engines, excellent safety ratings, or a track record of few liability claims will cost substantially less to insure than high performance models. The next list presents coverage premiums for some of the cheapest automobiles to buy coverage for.

Data based on single female driver age 20, no speeding tickets, no at-fault accidents, $500 deductibles, and New Hampshire minimum liability limits. Discounts applied include safe-driver, and claim-free. Premium amounts do not factor in vehicle garaging location which can change rates noticeably.

Based upon the rates shown, we can conclude that makes and models like the Honda CR-V, Honda Accord, Hyundai Elantra, and Ford Escape will definitely be the cheaper vehicles to insure for minors. Prices will trend higher because of the fact that there is more liability risk for drivers under 21, but in general those particular vehicles will have the lowest prices compared to other types of vehicles.

Drive safe and save

The recommended way to enjoy cheap insurance for drivers under 21 in New Hampshire is to drive safe and avoid accidents and traffic citations. The diagram below shows how speeding tickets and at-fault accidents influence auto insurance rates for different insured age categories. The data is based on a married male driver, full coverage, $100 deductibles, and no discounts are applied to the premium.

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In the previous chart, the average cost of a car insurance policy in New Hampshire per year with no accidents and a clean driving record is $1,560. Receive one speeding ticket and the average cost surges to $1,790, an increase of $230 each year. Now throw in two accidents along with the one speeding ticket and the yearly cost of auto insurance for drivers under 21 increases to an average of $3,741. That’s an increase of $2,181, or $182 per month, just for being a little careless behind the wheel!

Does full coverage make sense?

Finding cheap insurance for drivers under 21 in New Hampshire is the goal of most vehicle owners, and a great way to pay less for insurance is to only buy liability coverage. The information below illustrates the difference between premium costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The rates are based on no claims, a clean driving record, $1,000 deductibles, drivers are single, and no other discounts are factored in.

google.charts.setOnLoadCallback(drawFclqcibChart);function drawFclqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘Full Coverage with $1,000 Deductibles’, ‘Liability Only’],[‘Age 20’, 2279,957],[‘Age 30’, 1189,529],[‘Age 40’, 1161,491],[‘Age 50’, 1065,459],[‘Age 60’, 1033,451],[‘Age 70’, 1289,601]]);var options = {title: ‘Full Coverage Compared to Liability Only’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 500,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’},colors: [‘#6791b9′,’#98bee2’],hAxis: {title: ‘Annual Auto Insurance Cost for Average Vehicle in New Hampshire’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);var chart = new google.visualization.BarChart(document.getElementById(‘qcibfcl’));chart.draw(data, options);}

If averaged for all ages, physical damage insurance costs an extra $1,336 per year more than just insuring for liability. That brings up the question if buying full coverage is worth the expense. There is no clear-cut formula that works best for making the decision to drop physical damage insurance, but there is a general guideline. If the annual cost of comprehensive and collision coverage is 10% or more of the settlement you would receive from your company, the it may be a good time to stop paying for full coverage.

How to find budget-friendly auto insurance for drivers under 21

Here are some of the better thrifty solutions that can help drivers quote cheap coverage.

• Safe vehicles generally have lower rates
• Having at-fault accidents will increase rates
• Good credit can mean cheaper rates
• Drop full coverage on older vehicles
• Buying home and auto together can help save money
• Comparison shop at least once a year

That last tip is extremely significant, as was discussed in this piece. Prices charged by companies in New Hampshire can change significantly in a year, so you should be ready to switch companies if a more affordable rate is found.

Being loyal to a particular company is commendable, but it’s not a great idea if that devotedness results in you overpaying hundreds of dollars a year. In just a couple of minutes you could compare rates to find cheaper insurance for drivers under 21.