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In 1973, the New York State Legislature enacted the Comprehensive Automobile
Insurance Reparations Act which supplanted common-law tort actions for most
victims of automobile accidents with a system of no-fault insurance. Under the
no-fault system, prompt compensation for losses incurred by accident victims is
to be made without regard to fault or negligence. In simpler terms, in New
York, if you are injured in an automobile accident, your own insurance company
reimburses you for your “basic economic loss” resulting from the accident,
regardless of whether the accident was your fault or not. “Basic Economic Loss”
includes up to $50,000.00 per person of the following combined items:
- Health service bills incurred.
- Loss of earnings from work missed.
- All other reasonable and necessary expenses incurred, up to twenty-five dollars per
day for not more than one year from the date of the accident causing the
injury
New York’s No-Fault system allows individuals injured in automobile accidents to get medical treatment and be reimbursed their lost wages without having to fight
insurance companies over who was at fault for the accident itself. Whether you know it or not, the right to payment of No-Fault benefits is part of your
automobile insurance policy. |
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