New Hampshire Auto Insurance
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New Hampshire Auto Insurance Requirements
New Hampshire doesn’t require residents to purchase auto insurance, but it does require them to provide proof of financial responsibility in the event of an at-fault accident.
Financial responsibility requirement
The financial responsibility requirement can be satisfied in several ways, including purchasing auto insurance. Should you choose this option, there are certain laws residents must follow. Specifically, the law states that you must have Liability, Uninsured/Underinsured Motorist and Medical Payments coverage.
New Hampshire minimum liability limits
The minimum Liability limits New Hampshire allows are 25/50/25. Liability insurance offers protection if you injure or kill someone in an at-fault accident or cause property damage. The first two numbers, 25 and 50 correspond to Bodily Injury coverage and means your insurance will pay up to $25,000 per person and $50,000 per accident for the combined bodily injury expenses when 2 or more people are affected. The third number corresponds to property damage liability and means the insurer will pay up to $25,000 towards the costs to repair damage you caused including repairs to the other person’s vehicle, signs, buildings, mailboxes, etc.
Medical payments coverage
You need at least $1,000 of Medical Payments coverage too, but only if the auto insurance you purchase is for personal use. Fault does not matter with medical payments coverage.
Uninsured/Underinsured motorist coverage
Uninsured/Underinsured Motorist coverage is also required when a New Hampshire resident buys auto insurance. If you get into an accident with a hit and run driver or a driver that doesn’t have auto insurance (and these days, more people are driving uninsured), you’d have to pay all your medical bills if you didn’t have this type of coverage. If the at-fault party had insurance, but it wasn’t enough to cover all your bodily injury expenses, you’d have to pay the balance out of pocket. Having this type of insurance protects you against uninsured and underinsured drivers.
Comprehensive coverage
Without Collision and Comprehensive coverage, you’ll have to pay needed vehicle repairs out of your own pocket, too. These are optional types of coverage, unless your car is financed or leased. In that case, the lender or lessor probably will require it. Even though they’re optional, they’re definitely worth considering.
New Hampshire Insurance Department
To learn more call 800-852-3416 and speak to a representative at the New Hampshire Insurance Department or visit http://www.nh.gov/insurance/.