This is one of only two states that do not require liability insurance.  It does, however, have a “financial responsibility” requirement that states an individual who causes an accident and does not have sufficient coverage must have enough assets to cover the damages.

The best way to protect yourself and your vehicle is to carry coverage- even though it is not mandatory.  Since so many drivers choose not to carry the coverage it puts everyone at risk.  And regardless of the “financial responsibility” requirement, there is a good chance that if a driver does not carry coverage they don’t have the assets set aside to cover it.

They do, however, require that every driver carry uninsured motorist coverage.  Without a statewide enforcement it is virtually impossible to ensure that everyone carry coverage.  But having this policy will at least provide medical care and pay for damage in the event of an accident where an uninsured motorist hits a driver.

Uninsured motorists cost the state millions of dollars in unnecessary expenses each year.  These losses are for everything from lost wages and property damage to medical expenses.  The carriers of insured drivers that are involved in these accidents are left to pick up the bill- even if they are not at fault.

This results in two unfortunate outcomes: one, the distinct possibility that the insured’s rates will go up because of the claim, and two, the losses for the carrier are mainly passed on in the form of increased premiums for insured drivers.

But drivers should also consider two other forms of coverage that aren’t mandatory, but may come in handy.  These are collision and comprehensive.  Collision covers the damage sustained to the individual’s car when it hits something else, like another car, or a stationary object, for instance.  Comprehensive is for damage sustained due to unforeseen forces such as hail, fire, theft or striking a large animal such a deer.

When shopping for New Hampshire car insurance, the best advice for drivers is to shop around and make sure they are adequately covered.  This may mean more money for premiums, but in the end it will more than likely save them money.