No Fault insurance: What is it and why? 101

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No fault insurance is a claim you make against your own automobile insurer for medical bills and lost wages/earning under "no fault" law, if your state has it.... Commonly known as PIP (Personal Injury Protection)

12 States that currantly offer No-Fault insurance:
Florida, Michigan, New Jersey, New York and Pennsylvania have verbal thresholds. The other seven states—Hawaii, Kansas, Kentucky, Massachusetts, Minnesota, North Dakota and Utah—use a monetary threshold. Puerto Rico also offers No fault insurance.

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Disclosure: Please consult your agent before making any changes you feel you are not knowledgeable with. Due that the laws being different in each state, I am not responsible for any changes or updates that may have occurred after the making of this video.

[fiveofever]

In Michigan you get life time benefits regardless if you are at fault or why our insurance is the highest in the nation

[troyb]

You explained it perfectly the minimum needs to be raised at least in Florida $10, 000 doesn't cover s*** if you can't afford to drive you shouldn't driving if it's not your fault the other guys Insurance should have to pay for everything bottom line Florida no-fault insurance sucks most people drive with the state minimum of $10, 000 worth of coverage so this means they can run into you total your automobile pretty much crippled you and all you can get for it from them is $10, 000 which barely covers an x-ray so your insurance if you choose to purchase more than the minimum of $10, 000 even though the accident was not your fault your insurance pays for everything up to whatever Insurance you purchased so if you have a minimum of 10, 000 for uninsured or underinsured motorist that is all you get to pay your medical bills believe me no fault insurance sucks the minimum should be that is more realistic especially if you are injured doctor bills and surgery will eat that up quick the state minimum should be raised to 200, 000

[ahsanwnaz]

Hey Mark, I am in New Jersey and it's a no fault state. What I don't understand is how does underinsured/uninsured motorists matter in this case?

[thagedorn]

states couldn't care less about your protection. Learn how the world works. They care about the lobbyists and campaign donations, period. they spend 50 grand on a donation to make 500 mill off the taxpayer and insurance customer, if they ever pay out a bunch they get a bailout at the people's expense. This is 100% fact.

[AlfredoT]

so if your wage loss is 20000 they would only cover 10, 000 for you?