drsteve wrote:
All this drama and nonsense is the reason some states have gone to a no fault insurance system. Here in Michigan, your carrier makes you whole, the other guy's carrier takes care of him. No arguments about who is at fault, no costly and time consuming attorneys, no bickering between competing insurers trying to offload the costs on each other. Fault can come into play regarding whose rates may get raised in the aftermath of a crash, but that's it. Oh, if the other guy is at fault, his carrier pays your deductible, but that's the extent. It's much more straightforward.
Well, learn something new every day! Thank you for sharing.
While it would appear to really streamline the process, I wonder what it does for rates after an accident/claim?
Knowing that your rate is based on your risk to the ins co and a large factor is how much you've cost them, how does that figure?
Example, you get in an accident, clearly not your fault, big claim gets paid out by your company. Is that cost/claim not allowed in assessing your risk/rate?
Is it truly no fault or just the claims side, where the underwriters still base your rates on fault?
