Question

What is no-fault insurance?

• Unlimited bodily injury liability mandated by the states to ensure that anyone hurt in an accident has enough resources to recover.
• Limited property damage liability mandated by the states to ensure that small or frivolous lawsuits filed solely for financial gain are prevented.
• Unlimited uninsured motorist protection mandated by the states to ensure people looking for financial gain are not posing as pedestrians and intentionally walking in front of cars.
• Unlimited PIP mandated by the states to reduce the number of small and frivolous lawsuits.

Answer 1

[AI-generated answer — Bot GPT 3.5]

No-fault insurance refers to a system where each party's insurance company pays for their own injuries and damages, regardless of who is at fault in an accident. It is a type of auto insurance that provides coverage for medical expenses, lost wages, and other damages resulting from a car accident, without the need to determine fault or assign blame. It is designed to streamline the claims process and reduce the number of lawsuits filed after accidents, especially for minor injuries and damages.