No-fault Insurance at Legal Glossary

What is it? Car insurance laws that require the insurance companies of each person in an accident to pay for medical bills and lost wages of their insured, up to a certain amount, regardless of who was at fault. The effect of no-fault insurance laws is to eliminate lawsuits in small accidents. The advantage is the prompt payment of medical bills and expenses. The downsides are that the amounts paid by no-fault policies are often not enough to fully cover a persons losses and that no-fault does not compensate for pain and suffering.

Law Definition Added By: Joseph

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