Car insurance is technically optional in New Hampshire, but according to the New Hampshire Department of Insurance, the state minimum required amount of car insurance coverage (should you choose to purchase it) is as follows:
- $25,000 per person/$50,000 per accident for bodily injury liability
- $25,000 for property damage liability
- $1,000 in medical payments coverage
- $25,000 per person/$50,000 per accident for uninsured motorist coverage
New Hampshire is the only state in the U.S. that does not require residents to purchase car insurance, but that doesn’t mean you can drive around with no financial protection. Drivers who choose not to purchase car insurance must provide proof that they have other means of paying for damages caused in an accident.
This generally means posting a bond or making a cash deposit to the New Hampshire state treasurer of $75,000 or more to pay for any damages, but other options may be available. Failure to provide proof of financial responsibility after an accident may result in the suspension of your driver’s license and vehicle registration.
If the damage you cause in an at-fault accident exceeds your liability insurance, you will be held responsible for the remaining balance, potentially leading to asset seizure or wage garnishment by the courts if you can’t afford to pay out of pocket. We recommend a minimum of 100/300/100 liability coverage to make sure you’re properly covered after an at-fault accident.
In addition to protecting other people by purchasing liability coverage, you can also buy additional types of coverage to protect yourself and your vehicle, including uninsured motorist, comprehensive, collision, MedPay and gap insurance.
People who are financing a vehicle may be required to purchase certain types and amounts of insurance that go above and beyond the state minimum requirements as part of the terms of a loan or lease. Check the details of your loan to find out exactly how much insurance you need to be in compliance with your lender.