Definition of No -Fault Automobile Insurance in the Legal Dictionary - by Free online English dictionary and encyclopedia. What is No -Fault Automobile Insurance? Meaning of No -Fault Automobile Insurance as a legal term. What does No -Fault Automobile Insurance mean in law?
No invention has so transformed the landscape of the United States as the automobile, and no other country has so thoroughly adopted the automobile as its favorite means of transportation. Automobiles are used both for pleasure and for commerce and are typically the most valuable type of Personal Property owned by U.S. citizens. Because autos are expensive to acquire and maintain, heavily taxed, favorite targets of thieves, a major cause of air and noise Pollution, and capable of causing tremendous personal injuries and property damage, the body of law surrounding them is quite large. Automobile law covers the four general phases in the life cycle of an automobile: its manufacture, sale, operation, and disposal.
The first automobile powered by an internal combustion engine was invented and designed in Germany during the 1880s. In 1903, Henry Ford founded the Ford Motor Company and started an era of U.S. leadership in auto production that lasted for most of the twentieth century. In 1908, Ford introduced the highly popular Model T, which by 1913 was being manufactured through a-sembly line techniques. Innovations by Ford, General Motors, and other manufacturers near Detroit, Michigan, made that city the manufacturing center for the U.S. car industry. By the 1920s, General Motors had become the world's largest auto manufacturer, a distinction it still held into 2004. Over time, the auto industry in all countries became increasingly concentrated in the hands of a few companies, and by 1939, the Big Three—Ford, General Motors, and Daimler Chrysler—had 90 percent of the U.S. market. As of 2003, Ford is the world's second-largest auto manufacturer after General Motors Corporation.
Sooner or later, you are likely to have an accident. Fortunately, it will probably be a minor collision that damages only the vehicles involved. However, whether you are in a minor or major accident, behaving coolly, calmly, and properly after it occurs could save you a lot of money and trouble.
Write down the name, address, license plate number, and driver's license number of the other driver and ask to see his or her vehicle registration certificate and proof of insurance. Write down the insurance company name and policy number of the other driver. If asked, do the same for the other driver. Do not reveal the amount of your insurance coverage.
All states require those involved in an accident to file a report with the police or bureau of motor vehicles if the accident involves a death, a personal injury, or property damage above a certain amount, such as $500. Some states require that the report be made immediately; others allow five to thirty days. Failure to file a report is a misdemeanor in most states and could result in the suspension of your driver's license.
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