Kids & Family
Good News for Your Wallet: New Hampshire Makes List of States with Best Driver Insurance
Driving is dangerous anywhere, but a new study from Wallet Hub claims New Hampshire is one of the least risky states for drivers' wallets.
If another driver crashes into your car, can you be sure that driver has insurance, and, if so, enough to cover the damages?
Wallet Hub, an online personal finance resource, posed that question to its readers and then set out to find the answer.
The result is a recent study ranking how risky it is to drive your car in all 50 States and the District of Columbia. At least, how risky it is for your wallet.
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Rankings are based on the minimum amount of liability coverage required in each state, the percentage of uninsured drivers and whether or not the state requires insurance plans that cover medical expenses.
Luckily for New Hampshire drivers, Wallet Hub ranks the state as one of the best to have a car accident.
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New Hampshire ranked fourth in the country, tied with Maryland. The state requires drivers to hold at least a 25/50/25 policy, meaning the insurance company would cover $25,000 to $50,000 for bodily injuries and $25,000 for property damages.
New Hampshire also requires drivers to have both Personal Injury Protection (PIP) and Unisured Motorists Bodily Injury (UMBI) coverage. PIP covers medical expenses and funeral costs among other things while UMBI protects drivers who get into an accident with an uninsured driver.
UMBI coverage is essential to boosting New Hampshire’s ranking, since Wallet Hub found 9.3 percent of the state’s drivers are uninsured. New Hampshire didn’t have the highest percentage of drivers without insurance, but it also certainly didn’t have the least.
For comparison, Wallet Hub reported Massachusetts had the least amount of uninsured drivers with 3.9 percent and Oklahoma had the greatest with 25.9 percent.
Chances are, according to New Hampshire’s rank, when someone fails to yield or runs a red light and taps your bumper, your wallet can take a breath. Either your or the other driver’s coverage will almost always take care of your vehicle.
Click here for Wallet Hub’s study.
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