Cheapest Auto Insurance for High Risk Drivers in New Hampshire

Our editors keep telling us that when writing about auto insurance, the word “cheap” should never be used anywhere in the article. It’s just reality that cheap auto insurance for high risk drivers does not exist. We’ll try to make it up to you, because we can show you some ways you can quote and buy insurance that doesn’t cost an arm and a leg.

The type of vehicle you are trying to insure is probably the largest consideration when comparing the cheapest car insurance for high risk drivers in New Hampshire. Vehicles with high performance features, a lack of safety features, or a history of substantial liability claims will cost substantially more to insure than safer models.

The next list illustrates coverage rates for the cheapest automobiles to insure.

Table data assumes single male driver age 30, two speeding tickets, two at-fault accidents, $1,000 deductibles, and New Hampshire minimum liability limits. Discounts applied include multi-vehicle, homeowner, and multi-policy. Rates do not factor in New Hampshire location which can alter insurance rates greatly.

Based upon the table data, we can infer that cars like the Chevrolet Traverse, Honda CR-V, Ford Escape, Toyota Prius, and Honda Accord are a few of the most affordable vehicles to insure for high risk drivers. Rates will be higher anyway just due to the fact that there is more exposure for high risk drivers, but generally speaking those models will tend to have the cheapest car insurance rates compared to other vehicles.

Buying affordable auto insurance is not easy, and determining which company quotes the cheapest auto insurance rates for high risk drivers will require even more shopping around. Insurance premiums will most likely be significantly more expensive than the state average, with the extra cost attributed to the potential for higher claims that comes with selling coverage for high risk drivers, but reasonably-priced insurance may be attainable if you compare enough rates.

Every car insurance company has a unique approach to establish rates, so to begin we’ll rank the most budget-friendly auto insurance companies in New Hampshire.

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Travelers generally has some of the lowest car insurance rates in New Hampshire at around $695 annually. Concord, Patriot, USAA, and Vermont Mutual also make the cut as some of the cheapest New Hampshire car insurance companies.

In the rate table above, if you currently have a policy with Vermont Mutual and switched to Concord, you might see a yearly price reduction of in the neighborhood of $152. Policyholders with Amica may save as much as $204 a year, and Encompass customers might reduce rates by $344 a year.

To find out how much you can save, click here to start a quote or click several companies below for low rates.

Bear in mind that those policy prices are averaged across all drivers and vehicles in New Hampshire and do not factor in a rate surcharge for high risk drivers. So the auto insurance company that has the cheapest price for you may not even be featured in the company chart above. That illustrates why you need to quote rates from as many companies as possible using your own driver data and vehicle information.

When buying insurance for high risk drivers, one of the key criteria that help determine the amount you pay for auto insurance is the neighborhood you call home in New Hampshire. Areas with more people or more claims like Manchester, South Hooksett, and Londonderry will most likely have higher rates, whereas less populated areas generally pay less for insurance.

The information below lists the most costly cities in New Hampshire for high risk drivers to purchase car insurance in.

Annual rates are estimated as specific New Hampshire garaging address can raise or lower coverage prices noticeably.

Cost of full coverage

Finding the cheapest car insurance for high risk drivers in New Hampshire is probably important to the majority of people, and one of the best ways to find cheap insurance is to buy liability only. The information below shows the difference between auto insurance rates when comparing full coverage to liability only. The data is based on no claims or driving citations, $250 deductibles, drivers are not married, and no discounts are taken into consideration.

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As an average for all age groups, physical damage insurance costs $1,254 per year over and above liability coverage. That amount may make you wonder if paying for full coverage is a waste of money. There is no specific rule of when to stop paying for physical damage insurance, but there is a general guideline. If the yearly cost for physical damage coverage is more than about 10% of the replacement cost of your vehicle minus the policy deductible, then you may want to consider only buying liability coverage.

For example, let’s say your vehicle’s book value is $5,000 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, the most you would receive is $4,000 after paying your deductible. If you are paying more than $400 annually for physical damage coverage, the it may be a good time to stop paying for full coverage.

There are some situations where only buying liability is not advised. If you still owe a portion of the original loan, you have to carry full coverage as part of the loan conditions. Also, if you can’t afford to buy a different vehicle in the even your car is totaled, you should keep full coverage.

The chart below highlights how deductible selection can raise or lower annual premium costs when trying to find cheap insurance for high risk drivers. The prices are based on a single male driver, comp and collision included, and no discounts are applied.

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In the chart above, a 50-year-old driver could lower rates by $194 a year by increasing from a $100 deductible to a $500 deductible, or save $294 by selecting a $1,000 deductible. Youthful drivers, like the 20-year-old example, could shave as much as $640 annually just by using higher deductibles.

When insureds make the decision to increase the deductibles on their policy, it will be important to have enough spare savings to enable you to cover the extra out-of-pocket expense. That is the one drawback of using higher deductibles.

Who has the cheapest insurance quotes for high risk drivers?

You have a lot of ways to find cheaper auto insurance in New Hampshire, but the most popular methods are using a captive (or exclusive) agent such as Liberty Mutual or Allstate, an independent agent, or from a direct company like Progressive or Geico.

All three ways are similar, but auto insurance buyers need to understand the differences in how they function.

Independent insurance agencies write for multiple companies and can compare coverage rates with every one. Independent agents can give you more rate choices, which may provide you with a better chance of finding cheaper coverage. If your agent finds a cheaper company, the business is moved internally and you don’t have to do anything.

An exclusive ageny is only able to give prices for one company, two of the more popular are Allstate or State Farm agents. These agents normally cannot quote prices from more than just one company, so they have to upsell other benefits.

The last way is buying direct, which means you skip local insurance agents and buy from a direct company like Geico or Progressive. Buying auto insurance direct may be a decent choice drivers who do not have a lot of assets and know the limitations of their policy.

Out of those three methods, which one works best for finding the cheapest car insurance for high risk drivers in New Hampshire? The majority of people assume that buying from a direct car insurance company results in the cheapest price because there are no middleman commissions, but unfortunately, that is not the case. An argument could also be made that an independent agent results in the best rates since they can provide multiple quotes, but again, that’s not accurate. In the right set of circumstances, exclusive agents may have very competitive prices that are well below what direct and independents offer.

Because there is so much variation in auto insurance prices, the only real way to find out which one is cheapest is to compare, compare, and compare some more. Industry experts recommend getting quotes from all three to have the best selection of rates to choose from. We compiled a list of companies with some of the cheapest online rates that you can click here to view.