Average car insurance cost in Concord, NH

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The average car insurance cost in Concord, New Hampshire is $1,218 per year, according to Insure.com data analysis. Also, the car insurance rates in Concord is $47 less than the average rates in New Hampshire and $677 less than the national average.

Most insurance providers consider factors such as location, city demographics, population density, and average resident age, accident rates, theft and vandalism rates while determining your car insurance premium. This may lead to either lower or higher costs compared to other regions.

This article provides details on the most and least expensive car insurance companies in Concord, the average car insurance rates categorized by age and gender, and the cost of car insurance in Concord based on coverage limits. Whether you’re a new driver or an experienced driver, this article will help you find the most cost-effective auto insurance in Concord. Read on to learn more.

Cheap car insurance companies in Concord

Auto-Owners provides the best value for car insurance in Concord with coverage limits of 100/300/100, costing $788 annually.

A close second is The Hanover, which offers car insurance at $947 per year.

Read about the best car insurance companies.

Average car insurance cost in Concord by coverage limits

In Concord, the average car insurance rates based on coverage types are as follows:

• State minimum coverage: $409 per year (limits are 25/50/25)
• Liability only coverage: $427 per year (limits are 50/100/50)
• Full coverage: $1,218 per year (limits are 100/300/100)
• Non-owners coverage: $324 per year

In most states, drivers must have the state minimum coverage to drive legally, but these vary by state. However, state minimum coverage does not cover any vehicles listed on your policy in an at-fault accident.

To avoid compromising on the coverage and pay out-of-pocket expenses, it is better to have full coverage or non-owner coverage if you don’t own a car but borrow or rent one frequently.

Average car insurance rates by gender in Concord

The average car insurance per year for female drivers in Concord, New Hampshire, is $1,209.

Whereas the yearly average car insurance rate for male drivers is $1,226, which is $17 more than what female drivers pay.

According to the Insurance Information Institute, women are considered to be safer drivers than men, and statistics have proved this. They often enjoy lower auto insurance premiums due to their lower incidence of severe accidents compared to men.

Read more on how gender affects car insurance rates.

Average car insurance rates by age in Concord

In Concord, car insurance rates are highest for teens, averaging $4,011 per year or $334 per month. According to the Insurance Information Institute, these higher rates for 16- to 19-year-olds are due to their increased likelihood of road accidents due to their lack of driving experience.

Specific teen driving laws have been implemented to help them become better drivers. Additionally, parents can lower teen insurance rates by adding them to their existing auto insurance policy.

As teens grow older and build a positive driving history, their car insurance rates decrease. Young adults usually pay $2,040 annually for their car insurance, which is $1,971 less than what teens pay for their coverage.

In Concord, adult drivers pay an average of $1,242 per year for car insurance, while senior drivers pay $1,275 annually.

According to the Insurance Information Institute, rates for adults and seniors are significantly lower than for teens and young adults, as they are more likely to obey speed limits and follow road rules.

Read more on auto insurance for seniors.

The table below lists the average annual rates for drivers of different age groups:

Car insurance rate trends in Concord

Examining car insurance rate trends in Concord, New Hampshire, we observe a downward trend from 2022 to 2023. Subsequently, from 2022 to 2023, the rates experienced decrease overall, with an increase of 1% or $17.

The table below shows the trend for last four years:

Conclusion

In conclusion, the insurance rates in Concord, are lower than the average insurance cost in New Hampshire. Shopping around and taking advantage of available discounts, drivers in Concord can find affordable car insurance options. Additionally, many car insurance companies offer discounts for customers who purchase multiple policies through the same company.

Sources

• Insurance Information Institute. “What determines the price of my auto insurance policy,” Accessed September 2024.
• Insurance Information Institute. “Auto insurance for teen drivers,” Accessed September 2024.
• Insurance Information Institute. “Senior driving safety and tips,” Accessed September 2024.

Methodology

Insure.com team worked with Quadrant Information Service to get car insurance data. To determine the average premiums, our team of data analysts and expert editors have analyzed 53,409,632 insurance quotes from 170 insurance companies across 34,588 ZIP codes.

The insurance rates are based on a sample profile of a 40-year-old male and female driver with a clean driving record and a good insurance score. Quotes premiums are for a full coverage policy with limits:

• $100,000 bodily injury per person
• $300,000 bodily injury per accident
• $100,000 property damage per accident
• $500 comprehensive and collision deductible

The quoted insurance rates are for comparison purposes, and your individual rates may vary.

Prachi Singh

Contributing Researcher

 

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Prachi is an insurance writer with a master’s degree in business administration. Through her writing, she hopes to help readers make smart and informed decisions about their finances. She loves to travel and write poetry.