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New Hampshire doesn’t have a mandatory insurance law, but that doesn’t mean you shouldn’t have auto insurance. The New Hampshire DMV urges car owners to purchase insurance.
If you have a car accident, you could be faced with significant expenses. Here’s how to get a good auto insurance policy.
Biggest Auto Insurance Companies in New Hampshire
Geico, Prorgessive and State Farm are the biggest car insurance New Hampshire companies, holding more than a third of the state’s market share for personal auto insurance.
Minimum car insurance required in New Hampshire
New Hampshire law generally doesn’t require car owners to carry auto insurance, but that doesn’t mean drivers are off the hook. You must be able to demonstrate that you have sufficient funds to meet New Hampshire motor vehicle financial responsibility requirements.
In other words, you have to be able to pay for any injuries and damages that you might cause. If you cannot demonstrate “financial responsibility,” you may have your driving privileges suspended.
The most common way for people to prove their financial responsibility is to automobile liability insurance. This is an essential type of auto insurance that pays for injuries and damages you cause to others. Liability insurance also pays for your legal defense if someone sues you because of a car accident.
If you purchase auto liability insurance in New Hampshire, you must purchase at least:
- $ 25,000 for bodily injury
- $ 50,000 for bodily injury to more than one person in an accident
- $ 25,000 for property damage in an accident
This is often written 25/50/25.
We recommend higher liability insurance amounts than the minimum. Think about this: If you cause a car accident that results in multiple injuries to others or significant property damage, you could quickly run out of insurance and you could be sued for the rest. A good rule of thumb is to take out sufficient liability insurance to cover any assets you could lose in a lawsuit.
If you are having certain issues on the road, you may need to purchase auto insurance in New Hampshire. These problems include:
- You have been convicted of impaired driving (DWI) and must now produce proof of insurance for a minimum of three years.
- You are canceled as a repeat offender, but you must produce proof of insurance before you can get your license back.
- You must attend an administrative hearing for certain infractions, such as demerit points, and must purchase insurance as a condition to keep or recover your license.
- You have been convicted of an uninsured accident and must now file proof of insurance.
Medical payments (MedPay). This type of insurance covers medical costs if you are injured in a car accident, regardless of the cause of the accident. According to New Hampshire law, if you purchase auto insurance for a personal vehicle, you must also purchase at least $ 1,000 of MedPay coverage.
What else should I have?
Coverage for uninsured / underinsured motorists. These types of coverage pay for medical bills when you are hit by someone who does not have liability insurance or who does not have enough liability insurance.
New Hampshire auto insurance companies are required to provide you with both coverage for uninsured motorists (UM) and coverage for underinsured motorists (UIM). You can decline this coverage in writing for umbrella and excess policies. But these are good types of coverage to have.
Collision and full coverage. Combined, these types of insurance cover a wide range of issues including car accidents, auto theft, vandalism, riots, collisions with animals, falling objects, floods, fires and more. hail.
If you have a leasing or car loan, your leasing company or lender will likely require that you carry collision and comprehensive coverage.
Put it all together
Can I show my insurance ID card from my phone?
New Hampshire allows you to use your phone to show an auto insurance ID card. If you stop, you don’t have to hope to find your insurance card. Many auto insurers have mobile apps that provide convenient access to insurance credentials.
Average Car Insurance Premiums in New Hampshire
New Hampshire drivers pay an average of $ 802 per year for auto insurance. Here are the average premiums for common types of coverage.
Factors Allowed In New Hampshire Auto Insurance Rates
In addition to your driving record, previous claims, and vehicle model, New Hampshire auto insurance companies may use these factors in pricing.
How many uninsured drivers are there in New Hampshire?
About 10% of New Hampshire drivers don’t have auto insurance, according to the Insurance Research Council. That’s why it’s good to have your own insurance to cover the issues they cause, including MedPay, collision damage waiver, and / or coverage for uninsured motorists.
Penalties for driving without automobile insurance
Since New Hampshire does not have a mandatory insurance law, you will not be penalized for driving without auto insurance unless the New Hampshire Division of Motor Vehicles requires you to have SR insurance. -22. Under an SR-22, your insurance company provides a form to the state indicating that you have auto insurance.
If you are subject to such a requirement and are caught driving without insurance, your license and registration will be revoked until the SR-22 requirement is met.
When can a vehicle be totaled?
If your vehicle is severely damaged by a problem such as an accident or flood, auto insurance companies in New Hampshire may report the car as a total loss when the cost of the repair exceeds 75% of the retail value of the vehicle. vehicle or the insurance company decides that the car is “physically or economically unfeasible” for a claim settlement.
Solving insurance issues
The New Hampshire Insurance Department is responsible for regulating insurance companies and handling consumer complaints. If you have a problem with an auto insurance company, you can submit a complaint online.