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Covering all your accident expenses under
car insurance is rather an important thing. And we know that there are several coverage’s
which come under account while talking about the car accidents expenses.
America, it is a compulsion that every driver gets the automobile liability
insurance. There are generally four classifications in which car insurance is
kept: No-fault, tort liability, choice no-fault and the last one is add-on. All
the categories exhibit different subtle and significant differences. In all the
differences, the major one comprise whether there are limitations on the right
to charge and whether the insurer of the policyholder comes with payments of
first-party benefits, irrespective of which driver’s fault caused the event of
the accident. The following penning will take you through the no fault
insurance claims clearing the questions like what is no fault car insurance andhow
does no fault car insurance work.
What it is?
The first question which arises is what is no fault car
insurance? Well, as stated by the Insurance Information Institute, no
fault insurance is defined as:
no-fault system is intended to lower the cost of auto insurance by taking small
claims out of the courts. Each insurance company compensates its own
policyholders (the first party) for the cost of minor injuries, regardless of
who was at fault in the accident. (The second party is the insurance company
and the third is the other party or parties hurt as a result of the accident.)
This type of insurance is often misunderstood because the term itself implies a
single insurance type.
In reality, it's not quite that simple. "Pure"
no-fault insurance describes car insurance that provides for no-fault payment
of first party benefits and restricts the right to sue (what's referred to as
the "limited tort" option). The first party (policyholder) benefit
coverage is known as personal injury protection (PIP). Based on this
definition, there are currently no states that have a pure no-fault system
because all of them provide the ability to sue for non-economic or general
damages (but only if and when those damages exceed a certain threshold).”
The states which have it:
There are total 12 states that hold this
scenario of no fault car insurance.
The nine out of these twelve states are the
fault insurance stateswhile rest three are choice states which consist
policy based on the regular tort accountability law or no fault insurance.
These three are New Jersey, Pennsylvania and Kentucky.
By a little awareness of this, you can getcheap no fault car insurancethrough several car insurance
companies present today. To get the detailed description of what is no fault
car insurance, you can consult your insurer or you can research a bit more on
internet websites. In car insurance Florida no fault is getting known to everyone
day by day.