No Fault Auto Insurance Definition
Michigan which has had the highest auto insurance rates since 2015 has proposed legislative changes several times since 2018 in hopes of making a more affordable system but none has passed into law.
No fault auto insurance definition - Look it up now. In order to file an accident claim against the at fault driver there are typically certain thresholds a claim must meet before a victim can step outside the confines of no fault law such as serious personal injury or a. On may 30 2019 governor whitmer signed historic bipartisan no fault auto insurance reform legislation to provide lower rates for michigan drivers protect insurance coverage options and strengthen consumer protections.
Auto insurance reform faq. Sometimes no fault car insurance policies may also cover other costs associated with a car accident such as lost wages. There s a lot of confusion out there about what no fault insurance is and how it works.
No fault insurance sometimes referred to as personal injury protection insurance pip can help cover you and your passengers medical expenses and loss of income in the event of a covered accident regardless of who is found at fault. Whereas in a no fault state a victim must first file a claim with their own car insurance company to recover compensation. But this additional benefit depends on the policy and the state that you.
This is in contrast to a tort insurance system in which someone is found at fault for a car accident even if fault is determined to be 50 50. No fault simply means that regardless of who is at fault for an auto accident each driver s insurance company will handle their claim. Florida s no fault system sunsetted on 1 october 2007 but the florida legislature passed a new no fault law which took effect 1 january 2008.
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