As the name of the policy suggests, no-fault insurance gives you, the policy holder, to recover financial losses from your own insurer, regardless of who was at fault for the crash. As a result, the claims under this type of policy will be more expedient and convenient for the insured party.
Most states require no-fault clauses in car insurance policies, and motorists are usually required by law to have their cars insured. This requirement is for the motorists’ own protection as well as to keep premiums low by reducing all the needed paperwork when making claims.
Another kind of no-fault car insurance is the optional modified plan, which protects you from a lawsuit when you happen to be the driver at fault. Conversely, the plan also prevents you from suing the other driver, if he or she was at fault, which may not be beneficial for those who suffered serious injuries and financial losses.
No-fault auto insurance, however, only covers medical bills and loss of income at a limit. If your claim doesn’t fall under those two, or if they exceed the limit allowed by the policy, you will have to recover compensation through other legal resources. The maximum amount allowed for recovery as well as other details on what is included in the insurance will vary from state to state.
As such, it would be best for you to check whether the jurisdiction you’re in required no-fault coverage. If it doesn’t, a Chicago auto accident lawyer can advise you as to what you can do to still recover the compensation you need after an accident. You will also want to know how to recover other damages not covered by no-fault car insurance. Your attorney will also be able to guide you as to the best recourse in case of special circumstances regarding auto insurance laws in the state you’re living in.