No-Faul Auto Insurance

No-Fault Auto Insurance In the early 1930’s, a group of academics examining the nations auto insurance system suggested an alternative approach, based on the workers’ compensation system developed earlier in the century. Their goal was to achieve rapid and full compensation of auto accident claims without litigation. They suggested that we steer away from the American tradition of resolving disputes through litigation, to a system in which the insured insurance company pays the claim. This …

…profits from higher premiums, by increasing premiums they are going to have more capital to invest, and with more to invest there will be more profits. I’m not saying that insurance companies are crooked, but they are out to make money, “aren’t we all” and I think that we, the insured should have the choice of which system we choose. Most of my information came from (Consumerwatchdog.com) the rest from the book.