Is New York a No Fault Insurance State?
New York is one of the top five most populous states of the United States and is a hub for many collisions occurring daily. The traffic in New York makes an individual more prone to accidents that may be injurious and fatal.
This has resulted in numerous traffic rules and regulations. Some of these can be tricky and confusing, like the no-fault insurance law in New York. This blog by the Law of Carl Maltese will provide a detailed guide on the applicability of no-fault insurance in New York.
What Is the No Fault Law in New York?
The no-fault law does not mean that nobody is at fault if an accident occurs. On the other hand, New York established this law to help the individuals involved in an accident get compensated faster. This was done to help victims in need get financial aid quickly.
The no-fault insurance law is applicable in more than a dozen states of the United States. Simply put, no one would be considered at fault immediately if an accident occurs. This only underlines the coverage of the medical bill. If the driver is involved in an accident, their insurance company will have to pay the medical bills regardless of who is at fault.
Who Can Qualify for No Fault Insurance in New York?
There are certain conditions laid for the qualification and eligibility check for claiming the no-fault insurance:
Insurance of the car or vehicle involved in the accident is mandatory.
The vehicle must be insured by a company that is licensed to do business in the state of New York.
Taxi, truck, bus, or car are covered under this insurance.
The vehicle must be registered under the New York Vehicle Registration.
Who Is Not Eligible for No Fault Insurance in New York?
There are a few conditions where a driver or passenger may not be eligible for no-fault insurance in New York:
If the individual is riding a motorbike or scooter.
The accident is caused by distracted driving.
There is no insurance for the car that is involved in an accident.
If the pedestrian or bicyclist is struck by a vehicle with no carrier of a no-fault label.
What Are the Pros and Cons of the No-fault Law in New York?
The no-fault status in New York has made things straightforward and fast. However, in states with no law of no-fault insurance, it takes time to get financial aid as determination of the at-fault driver needs sufficient proof and evidence.
Here are a few pros:
The compensation covers the medical bills and future health expenses related to the accident.
There are no or minimum concerns regarding uninsured motorists.
It also covers the medical costs of the passengers in the vehicle.
There also exist a few cons:
A deductible must be paid to file a claim.
The driver or victim is blocked from filing a lawsuit against the at-fault driver unless there is a severe or permanent injury.
No coverage is made for the property damages in the accident.
What Compensation Is Covered under the No-fault Insurance Law?
The no-fault coverage amounts to $50,000 for every person possessing an insured vehicle in New York. If an accident occurs, approximately 80 percent will be paid by no-fault insurance coverage. On the other hand, the rest 20 percent is used to replicate the taxes because the no-fault coverage is under non-taxable insurance. For help understanding the no-fault insurance law, it may be beneficial to contact a Long Island vehicle accident attorney.
How Can Someone Make a Claim for No-fault Insurance in New York?
If an individual is willing to claim no-fault insurance, he/she needs to follow the below steps:
Firstly, the individual needs to fill out the no-fault application appropriately.
This should be followed by applying for a claim within 30 days of the accident occurring.
The application must be sent to the right insurance company, which can be either the insurance company of the car involved in the accident or the vehicle in which the victim was a passenger.
A person should acquire the medical bills or expenses as evidence and present them appropriately before the insurance company. In addition, the period of the claim must be kept in mind, or the application filed for no fault will be deemed null and void.
An individual facing any issue concerning compensatory claims must seek help from an established law firm.