New Hampshire Car Insurance and Your Full, But Not Required Policy
New Hampshire doesn’t require that you have insurance, but if you don’t you better have a something else in place.
| State Regulator Information | 800-852-3416 | www.nh.gov/insurance |
| Insurance Premium | Avg. Annual Premium: $ 1,124 | National Average: $1,318 |
| Mandatory Car Insurance Coverage | Bodily Injury Liability:$25k/50k Property Damage Liability: $25k |
UM/UIM:$25k/50kMedPay: $1k |
New Hampshire welcomes you to the state without mandatory insurance
New Hampshire car insurance is a mixed bag of requirements. First of all, it doesn’t actually require that its residents carry liability insurance. Second, if a resident does decide to purchase insurance, New Hampshire car insurance requires that almost a whole policy be purchased. In fact, the only major things missing from the minimum New Hampshire car insurance policy is the comprehensive and collision coverage.
New Hampshire Car Insurance Not Required
Like a handful of other states, New Hampshire does not require that you carry liability insurance on your vehicle. Actually, you don’t have to carry any insurance at all on your vehicle if you don’t want to.
Wait! Don’t get too excite yet!
They do however require that you still comply with the New Hampshire Motor Vehicle Financial Responsibility Requirements. This means that you have to be able to prove that you have sufficient funds to meet these requirements.
Sufficient funds are assets that can be sold in the event of an accident. These funds have to be easily accessed so they can be used to fully pay for any damages or injuries that you may cause.
If you can’t provide proof that you have sufficient funds and you have no insurance coverage you are looking at penalties that include your driver’s license being suspended. Since most people don’t have these sufficient funds, they just opt to buy the required New Hampshire Car insurance.
What Is Required if You Do Opt For New Hampshire Car Insurance
The New Hampshire car insurance requirements are the equivalent to almost a whole policy. Not only do they require that you carry the usual bodily injury and property damage liability coverage, they also require medical payments coverage and uninsured motorist coverage.
New Hampshire car insurance requirements for liability coverage, currently stands at 25/50/25. Meaning $25,000 for a single person’s injuries, $50,000 of coverage for the total injuries of the other party combined, and finally $25,000 in coverage for damage you do to the other person’s property.
Medical payments coverage pays for your medical payments that you or your passengers may obtain during to an accident. The state requires that a minimum of $1,000 in coverage is purchased on a New Hampshire car insurance policy. If you don’t have personal health insurance, you may want to purchase more than the minimum $1000.
Lastly, uninsured motorist coverage is also required. This coverage protects you in the event that you are hit by a person that has no insurance or not enough insurance. The amount of coverage you are required to have for your uninsured motorist coverage has to match what you have for your liability coverage.
For example if you chose to have the state minimums of 25/50/25 for your bodily injury coverage, you have to carry the same for your uninsured motorist coverage on your New Hampshire car insurance policy.
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