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New Jersey Offers Choice No-Fault Insurance Research Paper

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Risk Management and Insurance -- New Jersey's Choice No-Fault Insurance What is no-fault insurance and what states have no-fault insurance?

No-fault insurance is very much what it sounds like it is: when a driver is insured with No-Fault insurance and has an accident, the insurance company pays for the damages no matter who is at fault. This eliminates the need for a driver whose car has been damaged by another driver to fight with the other driver's insurance company. There are twelve states that offer No-Fault insurance (including New Jersey). Choice No-Fault is very different.

Choice No-Fault insurance is offered in New Jersey, Kentucky and Pennsylvania; "Choice No-Fault" means that the automobile owner has a choice; he or she can go with the state's No-Fault policy, or go with traditional insurance. If the driver does go for traditional car insurance that means he or she can file a liability claim or sue another driver.

In New Jersey (not in Kentucky or Pennsylvania) when a driver takes the "No-Fault" route, he or she can go to court and sue only in certain situations: a) when the accident results in "dismemberment, significant disfigurement or significant scarring"; b) when there are "displaced fractures"; c)...

There…

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Works Cited

Allstate. "No-Fault Car Insurance: Required and Optional." Retrieved February 10, 2015,

from http://www.allstate.com. 2012.

Insure.com. "The Most and Least Expensive States for Car Insurance." Retrieved February

10, 2015, from http://www.insure.com. 2012.
Ryskamp, Dani Alexis. "New Jersey No-Fault Auto Insurance Laws." Nolo. Retrieved February 10, 2015, from http://www.all-about-car-accidents.com. 2010.
Basic Auto Insurance Policy." Retrieved February 10, 2015, from http://www.state.nj.us.
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