Approaches for Compensating Auto Accident Victims
In many cases, innocent people who have been injured in auto accidents are unable to recover financial damages from the negligent motorists who injured them. Although accident victims may have bodily injuries or suffer property damage, they may recover nothing or receive less than full indemnification. To deal with this problem, states use a number of approaches to provide some protection to accident victims from irresponsible and reckless drivers. They include the following:1
Financial responsibility laws
Compulsory insurance laws
Unsatisfied judgment funds
Uninsured motorists coverage
Low-cost auto insurance
“No pay, no play” laws
No-fault auto insurance
Financial Responsibility Laws
All states ...
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