Your Guide to Understanding Auto Insurance in the Granite State, An Alternative to Car Insurance: Surety Bonds, Financial Responsibility Compliance: FR Bond Facts. The driver who caused the accident is still liable.. Accessed July 6, 2020. It’s even more interesting to look at some statistics to see that drivers in these two states are even more likely to buy coverage than the national average. Having car insurance is not a mandate in New Hampshire, but most residents do purchase some form of car insurance. In many states, the minimum amount of automobile insurance covered by law for bodily injury and liability is $50,000 and $25,000. The purchaser’s credit score will have an impact on the cost of this bond. In Virginia, about 10 percent of drivers don’t buy coverage. No matter where you live, you are still held responsible if you cause an accident. Since I drive a Mercedes most quote me at thousands of dollars a year. Each state has a different minimum amount of car insurance that drivers must obtain in ⦠Most states allow drivers to arrange self-insured auto insurance by posting a bond or cash. Not all states require drivers to have a minimum of liability insurance, but in the few states which do not, they require proof of financial responsibility. More than what I can afford. Every state does require vehicle owners to be financially responsible for their car, and that includes having a way to settle claims for accidents. The dimensions of the paper card must be between three inches by five inches and five and a half inches by eight and a half inches; 2. Here's a look at states that don't require car insurance ⦠In PA you are requires to 15/30 for BI, 5 in PD, 5 in Med, but there is no reason you should have coverage that low. Need car insurance but donât have a license? As a young driver auto insurance is way to expensive. Car Insurance is a major cost of car ownership, but it is considered so important that most states require coverage by law. Known as a mandatory minimum, drivers must purchase and maintain a certain level of car insurance from an insurance company in case of an accident or injury to another person or property. Only New Hampshire and Virginia do not strictly require you to have insurance coverage. Yes. ⦠Auto liability insurance is mandatory in 49 states and the District of Columbia. These are New Hampshire and Virginia. Actually, there are only two U.S. states where some drivers may not have to carry liability insurance. Every state requires that you meet financial responsibility requirements through insurance, a bond or some other approved means that show you are able to pay if you cause damages to another person or property in an automobile accident. It is this kind of coverage that pays claims if you are judged to be the driver at fault in a wreck. If you do not maintain the coverage, the DMV can suspend your vehicle registration and your driver license. Several states offer drivers the option of providing proof of financial responsibility in lieu of car insurance. Another area of insurance law that affects many of us is car insurance. Why would you not want auto insurance is a better question? Any money saved by not having insurance could be lost if you get into an accident—you’re still financially responsible for damages. However, they also have the option to purchase car insurance on their own which can also pay for the damages. In most states, the way they make sure that people can be financially responsible for the risk of being at-fault in a car accident is by having a minimum liability insurance policy.