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What Is No-Fault Insurance?

by | Jan 30, 2016 | Firm News

No-fault insurance means that if you are injured or your automobile is involved in an accident, your insurance company is legally responsible to reimburse you, irrespective of who was at fault. In the state of Minnesota, motor vehicle insurance is no-fault. Any driver that has been involved in a car accident is entitled to compensation by his insurer. Compensation entails losses suffered from health expenses, salary loss and additional losses resulting from injuries sustained in the accident. The law regarding no-fault insurance in Minnesota is found in Sections 65B.41 to 65B.71 of the state’s statutes. Insurance policies covering vehicle accidents are obligated to compensate the person involved to a sum that is not less than $40,000 for damages arising from the injury of anyone involved an accident. This is the least amount of coverage you would receive. It is important that find a lawyer that will evaluate your agreement and help you receive the full compensation you are entitled to.

What Does No-Fault Insurance Entail?

No-fault medical expenses. The law obligates your insurance provider to take care of health care expenses for both inpatient and outpatient care, prescription drugs, transport and ambulatory expenses, and other expenses that you’ll need when seeking treatment for injuries arising out of a motor vehicle accident.

Disability and income loss benefits. These benefits cover the loss of income that a person has suffered resulting from the injuries caused by the accident. This compensation is limited to $250 a week. The full benefits for disability and income loss – as well as other related benefits – cannot exceed $20000.

Survivor’s benefits. These refer to payments made by the insurance provider to the family if death occurs in the motor vehicle mishap. The law entails a maximum of $20,000 for such losses.

The survivors are entitled to $200 or less per week for money or tangible items of financial worth they would have received from the departed if the death did not occur. Survivor’s replacement services are also limited to a maximum of $200 and are paid to reimburse the survivors for expenses they sustained after the death of the accident victim.

Pain and suffering. The law does not mandate an insurance provider to compensate one for agony, misery or emotional trauma resulting from an automobile accident. You may need to sue the other driver or a third party. In this case, you should obtain the help of an experience personal injury lawyer to represent you.