No Fault Definition In its broadest sense no fault insurance is any type of insurance contract under which the insured party is indemnified by their own insurance company for losses regardless of the source of the cause of loss In this sense it is similar to first party coverage
The meaning of NO FAULT is of relating to or being a motor vehicle insurance plan under which someone involved in an accident is compensated usually up to a stipulated limit for actual losses as for property damage medical bills and lost wages by that person s own insurance company regardless of who is responsible for the accident Definition of no fault adjective in Oxford Advanced Learner s Dictionary Meaning pronunciation picture example sentences grammar usage notes synonyms and more
No Fault Definition
No Fault Definition
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Define No fault means that recovery for damages in an accident no longer depends on who was at fault in causing it A motorist will file a claim to recover his actual damages medical expenses income loss directly from his own insurer Definition of no fault in the Definitions dictionary Meaning of no fault Information and translations of no fault in the most comprehensive dictionary definitions resource on the web
Define no fault no fault synonyms no fault pronunciation no fault translation English dictionary definition of no fault adj 1 Of or related to a form of state mandated automobile insurance that compensates a policy holder who becomes an accident victim regardless of who is NO FAULT definition designating or of a form of insurance which covers certain losses of all persons injured Meaning pronunciation translations and examples
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No fault Refers to an auto insurance policy where after an accident one s own insurance company compensates for losses like property damage medical expenses and lost wages up to a certain limit irrespective of who was responsible for the accident No fault definition No fault laws or systems are ones where it is not important who is responsible for what has Learn more
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https://en.wikipedia.org › wiki › No-fault_insurance
In its broadest sense no fault insurance is any type of insurance contract under which the insured party is indemnified by their own insurance company for losses regardless of the source of the cause of loss In this sense it is similar to first party coverage
https://www.merriam-webster.com › dictionary › no-fault
The meaning of NO FAULT is of relating to or being a motor vehicle insurance plan under which someone involved in an accident is compensated usually up to a stipulated limit for actual losses as for property damage medical bills and lost wages by that person s own insurance company regardless of who is responsible for the accident
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