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7 Cards in this Set

  • Front
  • Back
What insurance is every car owner is required to buy in NY
1) No fault with $50,000 minimum coverage and
2) Liability Coverage (for the limited possibility of tort claims)
What damages does no fault insurance apply to?
Personal injuries, not property damage
Who has a claim under no fault insurance?
1) Anyone injured by a covered vehicle has a claim against the owner’s insurance policy.
2) You have a claim against your own insurance policy
3) Anyone in your car injured can also have a claim
4) Any pedestrian hit can have a claim
The claims do not consider fault
Who is barred from recovering under no fault insurance?
1) Drunk Drivers
2) Drag Racers
3) Car Thieves
4) Fleeing Felons
How can you get out of the no fault insurance scheme and litigate for tort recovery?
1) Demonstrating you suffered more than a basic economic loss ($50,000 which includes all medical expenses plus 80% of lost earnings up to $2000/month and miscellaneous expenses of ? per day – if add it up and more than $50,000 then can bring claim, if not only remedy is no fault) or
2) If you suffer “serious injury” – verbal threshold meaning that you have one of:
1) Death
2) Dismemberment (lost a limb)
3) Significant Disfigurement
4) Serious Fracture or
5) Permanent or total loss of a bodily organ or function
Why would you want to litigate the tort instead of getting the no fault insurance recovery?
Litigating the tort can get you pain and suffering which no fault insurance does not give you and litigation may give you a larger damage recovery
Is NY no fault insurance portable?
Yes, you can bring a claim wherever you go