Car accidents not only occur unexpectedly but also lead to a huge financial setback that may take decades to improve. The slightest of inattention can lead to the most terrible of mishaps. In fact, if you turn away a second to swat a fly, your car may have damaged the fender of your car. After that follows compensation, consulting lawyers and probably attending court sessions too. Naturally, It would be a relief if, after the mishap you filed a claim, and your car got fixed quickly, without running from pillar to post. This is the kind of coverge you will get with no fault insurance. Enquire about a no fault insurance when you next approach an insurance fim for insuring your vehicle. This is also called Personal Injury Protection
Each state have different rules for this kind of coverage. You can inquire about the kind of no fault coverage offered in your state and the coverage that suits you best to avail it. In case the insurance agent you picked is not able to offer you a satisfactory quote for a no fault coverage, you can know more about no fault insurance and get free quotes from any of the hundreds of companies you can access online.
To know your no fault insurance, you should first know why it is beneficial for you in the first place. By opting for a no fault insurance policy for your automobile this is what you get
1. It is less expensive than comprehensive coverage
2. It offers minimum coverage with low premiums
3. Compensation is paid without taking into account the cause of the accident or any other mishap
4. It is the best kind of coverage for old or much used vehicles for which high premiums do not reflect the lower value of the automobile
5. You are safely guarded from having to a sizable compensation, if your vehicle is not covered so
6. All involved in the accident can avail medical compensation
7. This coverage mostly helps those people involved in accidents, who are unable to pay in advance before settlements are made.
8. Provided certain conditions are met, a person with no fault coverage can sue for serious injuries causes, pain, suffering and severe damage to vehicles
9. Medical bills are paid
10. Loss of wages due to absence from work after the accident is compensated if you are eligible for it
Depending on your ability to pay premiums and the kind of vehicle and driving involved, you can either opt for no fault insurance coverage alone, or can have it along with a comprehensive coverage policy. Of course there are many people who take advantage of this kind of policy to make false claims. However, if rules are adhered to, this kind of coverage has proved very beneficial for many people.
When opting for no fault insurance, you will be held responsible to physical damage of property caused by accident from your vehicle, if you have not taken additional insurance for the same. Thus it makes sense to include property damage and collission coverages along with no fault insurance.