We present an efficient method for modeling the single and double ionization dynamics of the H2 molecule in ultrashort, intense laser fields. This method is based on a semianalytical approach to calculate the time-dependent single and double molecular ionization rates and on a numerical approach to describe the vibrational motion that takes place in the intermediate molecular ion H2+. This model allows for the prediction of the single and double ionization probabilities of the H2 molecule to be made over a wide range of frequencies and laser intensities with limited computational time while providing a realistic estimate of the energy of the products of the dissociative ionization and of the Coulomb explosion of the H2 molecule. The effect of vibrational dynamics on ionization yields and proton kinetic energy release spectra is demonstrated and, in the case of the latter, is discussed in terms of basic strong-field molecular fragmentation mechanisms.