Insurance UpdateCar insurance is needed in almost every state, including Washington, D.C. However, in New Hampshire, the laws are a little more ambiguous.
If you live in New Hampshire and are thinking about going without automobile insurance, you should understand the consequences and how you are accountable in the event of an accident.
Is Car Insurance Required in New Hampshire?
While car insurance is not required in New Hampshire, there is a financial responsibility requirement that you should be aware of.
This regulation requires you to be financially capable of covering the damages and medical expenditures incurred by a driver, pedestrian, or bicyclist if you are at fault in an accident.
If you are involved in an automobile accident and do not have insurance, you will still be responsible for all damages and medical expenditures resulting from the accident.
If you are unable to do so, you will face hefty penalties and fines, including the loss of your driver’s license.
Reasons to Get Car Insurance in New Hampshire
Despite the fact that automobile insurance is not required by law in New Hampshire, there are numerous reasons to get it.
If you are judged to be at fault in an accident, you may have to pay a large sum of money out of your own pocket.
Car accidents can result in thousands of dollars in property damage and medical bills for both you and the other motorist.
Another benefit of having car insurance is that it covers your personal expenses if something goes wrong.
In the event of an accident, New Hampshire does not force you to pay your own damages or medical fees, but these are expenses from which you will suffer.
Furthermore, if you are in an accident and the at-fault driver does not have insurance, the proper insurance coverage may protect you and get you back on the road faster.
Also Read State Farm Renters Insurance: All You Should Know
Cases Where Car Insurance is Required
In some cases, New Hampshire law requires car insurance. If you are convicted of a certain infraction, such as a DUI, you may be legally forced to carry auto insurance.
You may also be obliged to have car insurance if you are at fault in an accident and are unable to pay the necessary damages.
Minimum Insurance Requirements
Whether you choose to get car insurance, which is prudent, or you are compelled to have car insurance for any reason, New Hampshire has particular standards governing the minimum coverage you should have.
If you have car insurance in New Hampshire, you must have liability coverage of 25/50/25. This implies you should be insured for up to $25,000 in property damage, $50,000 in bodily injury, and $25,000 per person in bodily injury.
You must also have $1,000 in medical payment coverage, generally known as MedPay, for each person and incident.
In addition to liability coverage, New Hampshire requires equal quantities of uninsured motorist coverage.
This means that if you follow the state-mandated minimums, you will need 25/50/25 uninsured motorist coverage.
Read More German Health Insurance for International Students
The Car Insurance You Need
When purchasing vehicle insurance in New Hampshire, it is a good idea to have more coverage than the minimum requirements.
Serious incidents can result in greater damages and injuries than are specified in the minimum needed coverage.
You can and should acquire additional coverage to increase your coverage limits. Remember that if you increase the liability coverage maximums, you must also increase the uninsured motorist coverage maximums.
It is also a good idea to get comprehensive and collision coverage in your auto insurance policy.
These additional types of automobile insurance protect you in the event that you are at fault in a car accident and suffer damages and injuries. It also covers you in the event of vehicle theft, natural disasters resulting in property damage, and other forms of damage.
If you financed the purchase of your vehicle, you may be obliged to obtain full coverage auto insurance.
Most lien holders require that you carry full-coverage auto insurance to protect them in the event of an accident.
This coverage assures that they get compensated even if the vehicle is totaled. You may also require gap insurance if you owe more on your vehicle than it is worth.
Conclusion
Is Car Insurance Required in New Hampshire? Car insurance is not mandated by law in New Hampshire. However, if you are determined to be at fault in an accident and do not have automobile insurance, you may face financial disaster.
It may also result in you losing your driving privileges and incurring further fines and penalties. Always having car insurance is a good idea to protect yourself in case of an accident.
Insurance Update
