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Nashua first came into existence during the Industrial Revolution. In its early days, the local economy was heavily dependent on its cotton mills. Today, however, economic diversification has successfully incorporated retail and financial services into the mix. Money magazine has awarded Nashua multiple “best place to live” awards in recent years.
Driving legally in Nashua requires:
| Coverage | Requirements | Most Common |
| Liability Bodily Injury | Not required (30,000/55,000 if purchased) | 100,000/300,000 |
| Liability Property Damage | Not required (25,000 if purchased) | 50,000 |
| Bodily Injury - Motorist Uninsured | Not required (25,000 if purchased) | 10,000/20,000 |
| Medical Payments | Not required | 5,000 |
| Collision | Not required | 500 deductible |
| Comprehensive | Not required | 100 deductible |
If the chart above looks a little strange, it’s because New Hampshire laws don’t specifically require citizens to purchase automobile insurance. However, you must still prove that you can take care of any expenses, should you be responsible for causing an accident. And because there’s so much red tape involved in proving your financial responsibility, most drivers purchase an Automobile policy as a convenient alternative.
Your typical New Hampshire Motorist is likely forking out around $82 each month in automobile insurance premiums. However, living in Nashua gives you a distinct advantage – you can actually find rates as low as $36/mo* or more if you act quickly!
Most drivers can get a fairly low quite in Nashua from either Liberty Mutual, Nationwide, or Amica. But keep in mind that certain companies charge either drastically more (or delightfully less) for certain circumstances based on age, credit score, and your driving history. Just be sure to do your research into each company before you decide to switch.
New Hampshire auto insurance carriers contemplate various elements when establishing quotes, especially gender, geography, credit score/rating, education, and theft protection devices. On top of that, premiums might vary from provider to provider. To verify you are still forking out the best fee, examine insurance rates over the internet.
There are a number of various things that can factor into the rate quotes you receive. Even though many specific elements aren’t really something you can do something about, some of them are elements that you can change for the better. Here are some things which may change your auto insurance premium:
Your car insurance rates may differ based on the spot where you call home. Generally, highly populated urban centers feature higher car insurance rates as the additional number of car owners on the streets increases the likelihood of an accident! The population of Nashua is 87,137 and also the typical family earnings are $62,808.
Accident statistics in Nashua reflect a fairly low rate of Deadlyities, which is impressive considering there are over 85,000 residents living in your area right now. Most insurance providers like to offer lower rates automatically when specific zip codes have lower accident rates.
Sometimes in modest cities or rural towns, automobile theft can nonetheless be a problem. In order to make it a smaller problem for you, consider investing in a passive anti-theft system on your own car. Your current auto insurance provider may compensate you with reduced premiums! In Nashua, they had 68 Car Thieving in 2013. Since auto theft isn’t the biggest concern of most Nashua drivers, which means you could save money by raising your Comprehensive deductible (the type of insurance coverage which protects against theft). We’ll talk more about that later.
For better or for worse, most insurance companies will adjust your monthly rates based on your credit score. Auto insurance providers are no exception to this rule. Fortunately, in the Nashua area, some companies will still offer you a relatively affordable monthly premium, despite having less than perfect credit.
Believe it or not, Teenage motorists are charged some of the highest rates around – even higher than adult drivers with poor credit or a DUI on their record. But if you’re 25 or under, you can try to lower some of these exorbitant rates with a Good Student discount, or by taking some Driver’s education courses.
Have you heard of Accident Forgiveness discounts? Basically, if you have a minor accident or certain other non-significant citations on your record, your provider won’t factor one or more of them in when calculating your premiums. But not all companies are offering these discounts, so be sure to ask around.
Regardless of what you drive, the expense of your monthly premium is more closely related to how much coverage you purchase. This is the main explanation for why luxury vehicles cost so much more to cover. You have to buy multiple different types of coverage, and you have to make sure the quantities are high enough to cover all potential costs for repair or replacement.
These elements may also help you alter what you pay for your monthly premium:
Have you heard of bundling discounts? You can get them, and some significant savings along with them, by purchasing multiple insurance policies from the same company and “bundling” them together. This process is easy for married couples, for obvious reasons. And it isn’t limited to automobile insurance, either!
If you ask each provider in your area whether men or women should pay higher rates for their auto policy, every single company will likely give you a different answer. Many don’t charge different rates at all; those who still do, however, usually charge a very small premium.
Average commute times for Nashua can last between 23-27 minutes at a stretch, although some lucky drivers may be able to get to work in 16 minutes or less. Amongst drivers, using your own vehicle to get around is the preferred method of transportation (83%). Another 14% choose to carpool in order to get around the city.
If you can possibly avoid it, don’t register your car, truck, or van as a “business” vehicle. You’ll be looking at 10-12% higher premiums as a result. Also, don’t lose any sleep over how many miles you drive each year. Even high mileage (or a drastic reduction) will only change your monthly payment by a few percentage points.
We spoke about deductibles earlier – these are the mandatory payments you must give your insurance provider before they will fulfill certain claims, such as Comprehensive or Collision claims. But if you raise that deductible. Most providers will lower your monthly payment as a result.
More than a quarter of the population of Nashua (26%) has obtained a high school diploma or equivalent. And another 20% have also gone on to achieve a bachelor’s degree. Achieving a higher education is good for more than just getting a better job; it can also save you hundreds on your car insurance policy. It can save you even more than discounts for certain jobs, or for having a high yearly salary.
There are a few local choices for those potential students looking to expand upon their education. Daniel Webster College offers various associate’s and bachelor’s programs, especially in business and aeronautics. The school also offers an intern program through the nearby Nashua Airport. There is also Rivier College, a private school associated with the Catholic Church, and multiple satellite campuses of larger institutions in the state.
Obtaining affordable car insurance can certainly end up being a hassle. There’s lots of information you need to contemplate, and determining how insurance agencies examine your potential risk may be challenging. But try not to allow the wrong insurance provider talk you into buying the wrong policy.
Sources:
New Hampshire Insurance Department
New Hampshire Banking Department
Department of Highway Safety and Motor Vehicles
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