No, you do not need car insurance in New Hampshire, but you do need to prove financial responsibility to show that you can afford to pay out of pocket for an at-fault accident. There are two main ways to prove financial responsibility: by having liability insurance or by depositing money or securities with the state treasurer.
If you opt against car insurance, the amount you need to deposit with the state treasurer must equal New Hampshire’s minimum insurance coverage limits. The main benefit of this approach is to avoid the hassle of paying monthly or annual car insurance premiums.
However, this option is not available to everyone. Those with a history of uninsured accidents, DUIs, or reckless driving may be required to purchase auto insurance and maintain coverage for several years.
Required Types of Coverage If You Opt-In
While many people in New Hampshire may be able to opt-out of getting insurance, that isn’t always the best choice. Car insurance is a useful tool to help protect yourself and others from costly vehicle repairs and medical expenses. Here’s what you need if you decide to get covered:
- Bodily Injury Liability Insurance: $25,000 per person and $50,000 per accident
Bodily injury liability insurance pays for the medical expenses of other drivers in accidents you cause. It can cover things like hospital fees, loss of income, pain and suffering, and funeral costs.
- Property Damage Liability Insurance: $25,000 per accident
Property damage liability insurance pays for other drivers' property damage in accidents you cause. It can cover things like vehicle repairs or damage to stationary objects like houses or fences.
- Uninsured Motorist Bodily Injury Insurance: $25,000 per person and $50,000 per accident
Uninsured motorist bodily injury insurance covers the policyholder’s medical expenses after accidents caused by uninsured drivers.
- Medical Payments (MedPay) Coverage: $1,000
MedPay pays for the policyholder’s medical expenses after an accident, regardless of fault. It also has the added benefit of never requiring a deductible but still covering deductibles for health insurance or personal injury protection.
Monthly Cost of Car Insurance in New Hampshire
Premiums are representative of a 45-year-old good driver with a minimum coverage policy.
To learn more, check out WalletHub’s guide to how much insurance you need.
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