New Hampshire is a rare state that has no mandatory car insurance laws. However, this state requires you to pay for costs of property damage and injuries to other persons resulting from the car accident that you cause. So, to avoid financial burden of car accidents, you can purchase New Hampshire car insurance.
Car Insurance Requirements
Although car insurance is not mandatory in this state, most drivers purchase insurance coverage anyway. If you decide to purchase New Hampshire car insurance, your policy must include:
- Liability coverage
- Uninsured motorist coverage
- Medical payments coverage.
Your policy must include liability insurance to help you cover the cost of property damage and injuries to others resulting from an accident that you cause. The minimum required limits for liability insurance include:
- $25,000 for death or bodily injury per person
- $50,000 total for death or bodily injury per person
- $25,000 for property damage.
Your insurance policy must also include medical payment coverage. This coverage will help you cover your own medical costs in case of an accident. The minimum limit of medical payment coverage in New Hampshire is $1,000.
Your insurance policy must include Uninsured and Underinsured Motorist coverage. This policy pays for injuries that result from an accident with a driver with inadequate insurance cover, or a driver without insurance. This insurance coverage must match your liability coverage amounts as described above.
New Hampshire car insurance companies also offer optional types of coverages that you may consider purchasing. Remember to add these additional coverages to help protect you further. Optional coverage typically includes:
- Collision – Insurance cover that helps pay for damages made to your car after an accident
- Comprehensive – Insurance cover that pays for damages resulting from all accident related events such as fire, floods etc
- Towing and labor
- Rental reimbursement.
NOTE: Comprehensive and collision coverages may be required if you are financing your car through a loan or lease agreement.
Mandatory Insurance Filing (SR-22)
SR-22 insurance filing is done by drivers who have caused accidents or those who have been convicted of serious violation of traffic regulations. SR-22 can be filed with the Department of Motor Vehicle through your car insurance company. SR-22 insurance guarantees that you will hold and maintain minimum coverage for 3 years. If you fail to file an SR-22, you will face the following penalties:
- Driver’s license suspension
- Vehicle registration suspension
- License plates suspension.
While New Hampshire car insurance policies are not mandatory, you are required to pay the cost of property damage and injuries resulting from the car accident that you cause. The state will suspend your driver’s license until you prove that you meet the costs of the offending accident. If you have a car insurance that meets the required financial standards, the above suspension will not apply to you. For more information on New Hampshire’s financial responsibility laws, contact the Department of Motor Vehicles at (603) 227-4010.
New Hampshire Automobile Insurance Plan
If you are considered a high risk driver, you may find it hard to get a company to insure your car. But good news is; you can insure your car through New Hampshire Automobile Insurance Plan. These association share the risk associated with damages and injuries caused by high risk drivers. You must show proof that you had attempted to apply for coverage through individual insurance providers and didn’t succeed. Car insurance through the plan is more expensive than that offered by open market insurance companies.
Other Car Insurance Issues
Because car insurance matters are complex, the New Hampshire Insurance Department has programs that help consumers with matters of car insurance. Through this department, you can report suspected insurance fraud or file your complaint against your car insurance provider.
If you have a dispute with your car insurance company, you are advised to attempt resolving it with them. If you are unable to resolve it, you may file your complaint with the New Hampshire Insurance Department. You can do so using the following means:
- Online at the NHID website
- By mailing the complaint form to the address on the form
- By faxing the complaint at (603) 271-1406.
New Hampshire car insurance companies lose a large amount of money through car insurance frauds. These losses trickle down to consumers and may increase insurance premiums. Car insurance fraud often involves: Falsifying injuries Falsifying property damage Staging car accidents. To help fight insurance fraud, report suspected car insurance fraud to the NHID at (800)-852-3416.
Determining Your Car Insurance Rates
When determining your car insurance, most New Hampshire car insurance companies look at various factors to determine your insurance rates. These factors include:
- Driving record
- Credit card history
- Your car’s make and model
- Your deductibles that include the amount paid for your claim.
Car Insurance Discounts
If you want to purchase any insurance cover for your vehicle, take advantage of available car insurance discounts such as:
- Good driver
- Security device
- Safety device
- Senior citizen
- Good student.
Several insurance companies weigh certain factors when determining appropriate discount that may apply in your case. But remember that most companies first look for driving history before giving you an insurance quote.
Most Stolen Cars in New Hampshire
Driving a car that is always targeted by thieves may increase your car insurance rates. According to www.nicb.org, the 2013 most stolen car in New Hampshire include:
- Ford Pickup (Full Size)
- Honda Civic and Honda Accord
- Chevrolet Pickup (Full Size)
- Dodge Caravan
- Jeep Cherokee/Grand Cherokee
- Ford Focus
- GMC Pickup (Full Size)
- Dodge Pickup (Full Size)
- Toyota Corolla.