Automobile Insurance
Auto insurance is one of the most used types of personal insurance. Most states require that you purchase some kind of insurance coverage to drive legally in the state. Auto insurance can be divided into two basic coverage areas: liability and property damage.
Two factors determine what you pay for auto insurance. The first factor is underwriting, where insurance companies assess the risk associated with an applicant. The second factor is rating; the rating assigns a price based on what the insurer believes it will cost to assume the financial responsibility for the applicant’s potential claim.
The National Association of Insurance Commissioners provides in depth information to help you understand auto insurance, including liability, property damage, and rental car insurance on their website: https://content.naic.org/consumer/auto-insurance.htm
To help you understand more in depth how auto insurance rates are determined, check out our webinar where our chief property and casualty actuary dove into the numbers on our YouTube channel: https://youtu.be/QQoG3jgNMdw
Resources relating to automobile and vehicle insurance.
- Automobile Insurance - Repair Shop Facilities FAQ
- New Hampshire Auto Cost Premium Rate Comparison
- Your Guide to Understanding Auto Insurance in the Granite State
- Information on Use of Credit by Insurers
- Insurance Information Institute Auto Insurance Resources
- NAIC Auto Insurance Resources
- National Insurance Crime Bureau
- NH Attorney General Consumer Protection Bureau
Have a question about your coverage?
Call the Consumer Services unit at 603-271-2261, in state toll free (800) 852-3416 or email consumerservices@ins.nh.gov.
