"No Fault" Car Accidents

Monday, 27 February 2017 17:31 |
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People hear the term "No Fault" when it comes to car accidents. Its ambiguous and confusing.

In New York No Fault provides payments of benefits to victims of motor vehicle accidents regardless of liability. No Fault reimburses an injured party for basic economic loss up to $50,000. per person. Basic economic loss consists of all necessary doctor and hospital bills and other health service expenses, payable in accordance with fee schedules established the NYS Insurance Department. Also, economic loss provides for up to 80% of lost earnings up to a maximum monthly payment of $2,000 for up to three years. In addition $25.00 dollars per day for a period of one year from date of accident for other reasonable and necessary expense the injured party may have incurred.

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