Cheap Car Insurance Quotes for Seniors in New Hampshire

Wouldn’t this article be short if we could instantly tell you the one company that has the cheapest coverage for seniors? It’s not quite that easy, unfortunately, as there are a whole bunch of unknowns like if you have a lapse in coverage, what level of deductibles you need, and your prior traffic citations. The content below covers the best ways to save on auto insurance and will hopefully give you some help in finding cheaper rates.

When shopping for cheaper auto insurance for senior citizens, one of the many components that is used to calculate rate quotes is where you keep your vehicle. Areas with a lot of weather claims or more people like Manchester, Pinardville, and Hudson will most likely have higher rates, whereas more rural areas generally pay lower auto insurance rates.

The illustration below lists the most expensive cities in New Hampshire for seniors to buy car insurance in.

Rate information is approximated as specific location information can alter rates greatly.

The cost and performance of the vehicle you are trying to insure is one of the biggest factors in finding cheap auto insurance for seniors in New Hampshire. Vehicles with limited top-end speed, good safety features, or low incidents of liability claims will cost less to insure than high performance models.

The information below estimates auto insurance premiums for a selection of the most economical automobiles to insure.

Cost estimates assume married male driver age 60, no speeding tickets, no at-fault accidents, $500 deductibles, and New Hampshire minimum liability limits. Discounts applied include multi-policy, claim-free, homeowner, safe-driver, and multi-vehicle. Rate quotes do not factor in your specific New Hampshire location which can impact coverage prices substantially.

Above prices assume married male driver age 60, no speeding tickets, no at-fault accidents, $500 deductibles, and New Hampshire minimum liability limits. Discounts applied include claim-free, homeowner, safe-driver, multi-policy, and multi-vehicle. Estimates do not factor in specific New Hampshire garaging location which can affect premiums considerably.

Table data represents married male driver age 60, no speeding tickets, no at-fault accidents, $500 deductibles, and New Hampshire minimum liability limits. Discounts applied include homeowner, claim-free, safe-driver, multi-vehicle, and multi-policy. Prices do not factor in vehicle location which can alter premiums substantially.

Deciphering which company offers the most affordable auto insurance rates for seniors calls for a bit more work than just quoting one company’s rates.

Each company uses their own method for filing rates in each state, so we will examine the most budget-friendly auto insurance companies in New Hampshire.

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Travelers may offer some of the lowest car insurance rates in New Hampshire at around $702 annually. Concord, Patriot, USAA, and Vermont Mutual also qualify as some of the cheapest New Hampshire insurance companies.

As the rates illustrate above, if you are a customer of USAA and switched to Concord, you might see an annual savings of upwards of $108. Drivers with Vermont Mutual might save as much as $161 a year, and Amica customers might reduce rates by $195 a year.

Understand that those estimates are averages across all drivers and vehicles and are not factoring in a rate discount for seniors. So the auto insurance company that is most affordable for your situation may not even be included in the chart above. That is why you need to compare rates from as many companies as possible using your own specific driver and vehicle information.

Liability only or full coverage

Finding cheap auto insurance for seniors in New Hampshire is probably important to most drivers, and one of the fastest ways to pay lower rates for insurance is to buy only liability coverage. The diagram below compares car insurance rates with and without full coverage. The data assumes no claims, a clean driving record, $250 deductibles, drivers are single, and no discounts are factored in.

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If the expense is averaged for all age categories, physical damage coverage costs $1,254 per year more than carrying just liability coverage. That is a big expense that brings up the question when is it safe to stop buying full coverage. There is no clear-cut formula of when to stop paying for full coverage on your policy, but there is a broad guideline. If the yearly cost of comp and collision coverage is about 10% or more of the replacement cost of your vehicle minus the policy deductible, then you may need to consider dropping full coverage.

The example below illustrates how your deductible choice can affect insurance prices when trying to find cheap insurance for seniors. The premiums are based on a single female driver, comp and collision included, and no discounts are factored in.

google.charts.setOnLoadCallback(drawDfdqcibChart);function drawDfdqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘$100 Deductible’,’$250 Deductible’,’$500 Deductible’,’$1,000 Deductible’],[‘Age 20’, 1903,1753,1585,1427],[‘Age 30’, 1323,1213,1087,963],[‘Age 40’, 1229,1129,1013,903],[‘Age 50’, 1075,987,889,793],[‘Age 60’, 1041,957,861,767],[‘Age 70’, 1207,1113,1005,905]]);var options = {title: ‘Comparison of Deductible Levels and Auto Insurance Cost in New Hampshire’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 700,’chartArea’: {left:100,top:50,’width’: ‘100%’,’height’: ‘80%’},legend: {position: ‘bottom’,textStyle: {fontSize: 12}},bar: {groupWidth: ‘80%’},colors: [‘#6791b9′,’#75a8d8′,’#98bee2′,’#bad4ec’],hAxis: {title: ‘Annual Auto Insurance Cost for Average Vehicle’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);formatter.format(data,3);formatter.format(data,4);var chart = new google.visualization.BarChart(document.getElementById(‘qcibdfd’));chart.draw(data, options);}

As shown above, a 40-year-old driver could lower their car insurance rates by $186 a year by switching the physical damage coverage from a $100 deductible up to a $500 deductible, or save $282 by using a $1,000 deductible. Young drivers, like the Age 20 category, could save $476 annually just by using higher deductibles. If you do make the decision to raise your deductibles, it will now be necessary to have plenty of discretionary funds to satisfy the extra out-of-pocket expense, which is the main drawback of higher deductibles.

Best cheap insurance quotes for senior citizens

You have many ways to quote and buy auto insurance in New Hampshire, but the most prevalent are through an independent agent, an exclusive insurance agent like Allstate or Auto-Owners, or buying direct from a company like Geico or Progressive. Each way has the same basic steps, but auto insurance shoppers should know the differences in how they price policies.

Independent insurance agencies are appointed by several companies and can get policy pricing from every one. These types of agencies have the option to compare multiple rates, which may provide you with a better chance of finding cheaper coverage. If a cheaper rate is found, they can switch companies in-house and the insured can keep the same agent.

Exclusive agencies are usually just provide rates from one insurance company, two popular examples being an Auto-Owners or Allstate agent. They generally cannot provide a range of price quotes, so you will not be able to compare multiple prices.

Buying direct means you skip either of the other two types of agents and instead buy buying direct from a company like Esurance or Progressive. Buying direct is a good choice for people who have little risk and have a good understanding of what specific coverages they need.

So which one of the three ways works best for finding cheap auto insurance for seniors in New Hampshire? It would be easy to say buying direct yields the cheapest rates because there is no agent involved, but unfortunately, it’s not that cut and dried. We’d also like to say an independent agency guarantees the cheapest rates since they have more companies to choose from, but that idea is not necessarily true either. For the right applicant, the exclusive agents have really good rates that are the cheapest in New Hampshire.

Since auto insurance rates vary so much, the only true way to get the lowest rate is to get quotes and compare the rates. It’s a good idea to get price quotes from all three to give yourself enough choices. For a list of companies with cheap rates in New Hampshire, click here to view.