Do I Have Enough Auto Accident Insurance?

Most people don’t really pay much attention to their personal insurance until they need it – and unfortunately, when they need it, they find they don’t have enough, or don’t have the right coverage.  In New Hampshire, it is not mandatory to have automobile insurance.  Unlike Massachusetts and other states, New Hampshire does not have no-fault insurance.    Therefore, it is critical that you purchase sufficient insurance to protect not only your personal assets from a lawsuit and judgment, but also sufficient insurance to protect you and your family in the event that you are seriously injured in an automobile accident that is the fault of an uninsured motorist.   In New Hampshire, an insurance company MUST provide you with the same limits for uninsured motorist protection that you purchase for liability protection.  While a minimum policy in New Hampshire is $25,000 per person and $50,000 per accident, my recommendation is to purchase a minimum of $250,000 per person, and $500,000 per accident.    The added cost is really minimal, and you should shop around for a reasonable premium.    I also recommend purchasing at least $5,000 in medical payment coverage – which protects you and anyone in your car for medical bills arising from an accident – regardless of fault.   Finally, you should consider an “umbrella” or personal liability policy.    You can purchase $1,000,000 in additional coverage with an umbrella policy that will provide coverage in excess of both your automobile and homeowners’ limits.    Better safe than sorry, especially with the high cost of medical treatment these days.