No-fault insurance as it pertains to auto insurance describes a policy in which holders recover their losses from their insurance, despite whether or not an accident is their fault. With that in mind, stricter no-fault policies apply only to state regulations that provide the payments for the policyholder and restrict the ability to sue. One may be able to sue under severe circumstances, although verbal agreements (or “thresholds”) and monetary thresholds under many no-fault laws don’t always hold up well due to people attempting to abuse their no-fault privileges.
Twelve states currently have auto no-fault insurance laws, five with verbal thresholds (Florida, Michigan, New Jersey, New York, Pennsylvania), seven with monetary thresholds (Hawaii, Kansas, Kentucky, Massachusetts, Minnesota, North Dakota, Utah). Below are some details on specific states and their respective state no-fault laws and regulations.
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Auto Insurance Advisor |
Personal Auto Insurance, Shop for Auto Insurance |
07 1st, 2010 |
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