Asked by Norberto Esquer on May 07, 2024
Verified
Drivers Harris and Stein live in a state having no-fault auto insurance. Stein causes an accident by hitting Harris's car. Stein is not hurt. Harris spends three days in the hospital at a cost of $5,300. Compute the amount each driver's insurance company pays toward medical expenses.
No-fault Insurance
An insurance policy where each party's insurance company pays for their own losses, regardless of who was at fault in the incident.
- Acquire insight into the nature of no-fault auto insurance and its repercussions on claims and financial settlements.
- Gauge the financial repercussion of insurance claims, reflecting on deductibles, premiums, and coverage parameters.
Verified Answer
JC
Learning Objectives
- Acquire insight into the nature of no-fault auto insurance and its repercussions on claims and financial settlements.
- Gauge the financial repercussion of insurance claims, reflecting on deductibles, premiums, and coverage parameters.