A. Weiss (1992), “Incentive Effects of No-Fault Automobile Insurance: Evidence from Insurance Claim Data” in G. Dionne, Ed., Contributions to Insurance Economics , Kluwer Academic Publishers, Boston, pp. 445–470.Cummins, J. D., & Weiss, M. (1992). Incentive effects of no-fault ...
The truth about no-fault insurance is that it’s about how a car insurance claim is paid out: “[With no-fault insurance] you get compensation from your own insurance company in the event of an accident,” saysAnne Marie Thomas,our resident insurance expert, in aninterview with theGlobe ...
In most states,the driver who caused the accidentwill bear financial responsibility (usually through an insurance company) for injuries and other losses. But in a dozen or so states, the car insurance process starts (and often ends) with a no-fault car insurance claim made through your own c...
Each insurance company pays the damage claim of its insured driver. There’s no waiting for a decision as to fault or a court award for damages. And, if the other diver is eventually found to have been at fault, your insurance company waives your deductible (the up-front ...
Car insurance policies include PIP in no-fault states like Oregon or New York, whereas you can only buy MedPay in states likeIllinoisorTennessee. In other words, an insurance carrier may offer one, but probably not both, depending on where you live. Texas is an exception here, as some in...
Personal injury protection insurance allows you to file a claim for medical expenses or other costs resulting from a car accident, regardless of who was at fault. Depending on your policy, PIP coverage may also pay for lost wages or reimburse you if you have to hire someone to handle routine...
When you get into an accident with another driver, your car insurance policy can step in to help protect your finances from the fallout. However, insurance claims are settled differently depending on your state’s fault laws.
Why no-fault insurance is bad? The pros of no-fault insurance are thatit ensures quick claim payouts after an accident and reduces the number of lawsuits for minor injuries. The cons of no-fault insurance are that it raises car insurance premiums and makes it difficult for drivers to receive...
In accordance with the provisions of the Marriage Law, a no-fault party shall have the right to claim damages under any of the following circumstances bringing about divorce: (1) bigamy; (2) cohabitation of a married person with any third party; (...
A no-claim discount (NCD) is a discount on your Comprehensive Car Insurance premium that increases each year you don’t make an at-fault claim (it’s also sometimes called a no-claim bonus or no-claims entitlement). The more consecutive years you’re insured and remain claim-free, the ...