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Old 09-22-2013, 07:26 AM
 
5,727 posts, read 9,089,585 times
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I purchased a home in Kentucky near Cincinnati and I seem to have found a potential major problem with living in KY. After running some rates for auto insurance I have found my rates are essentially twice as high or higher than Ohio which is not a "No Fault" car insurance state. According to a friend that has some knowledge of this, states that are "No Fault" (includes NY, PA, KY, MN, MI, MA and some others) in many cases in a multi car accident, no blame is assigned by the police and every driver is issued a ticket, even the driver that is not at fault. Then the courts get tied up with the case. The prospect of having to go to court over a ticket for an accident that is not my fault is unsettling. And seeing my rates go from $50 to $80 in Ohio (did a quote at a location in the Cincinnati side of the metro area) to over $200 to $300 a month in KY in every case but one, has me second guessing whether or not I should live there. I am going to try running a quote for another address in KY near Cincy but in another suburb to see if there is a significant change.

My driving record is clean and I have never had an at fault accident or even made a single claim. I suspect if I end up in accident in KY, I may very well no longer be able to afford to drive because my insurance rates will go from unreasonably high to outrageous. This being the case, I am wondering if anyone else has experience with this matter and how did they get around it. Did you move to another state that is not a "No Fault" auto insurance state? Or do you pay the higher rates and deal with it? Or have you found a way to lower your insurance rate to a sane level?
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Old 09-22-2013, 02:01 PM
 
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Your friend has a misunderstanding of no fault auto insurance. In simplest terms, following an accident, your no fault insurance policy pays your property damage and bodily injury for you and your vehicles passengers regardless of which vehicle caused the accident.

This second part is a little hairier: Because your no fault insurance policy indemnifies you following an accident, you typically have little to no legal recourse towards the owner of the vehicle that was at fault for said accident.
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Old 09-22-2013, 07:14 PM
 
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Quote:
Originally Posted by WILWRadio View Post
According to a friend that has some knowledge of this, states that are "No Fault" (includes NY, PA, KY, MN, MI, MA and some others) in many cases in a multi car accident, no blame is assigned by the police and every driver is issued a ticket, even the driver that is not at fault. Then the courts get tied up with the case. The prospect of having to go to court over a ticket for an accident that is not my fault is unsettling.

Totally untrue about every driver getting a ticket. Actually, the opposite is the norm - neither driver gets a ticket. The whole theory of no-fault is to reduce court involvement.
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Old 09-22-2013, 07:17 PM
 
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Quote:
Originally Posted by pepe1 View Post
This second part is a little hairier: Because your no fault insurance policy indemnifies you following an accident, you typically have little to no legal recourse towards the owner of the vehicle that was at fault for said accident.

Each state has their own monetary limits above which you or your insurance company can sue the other party for damages.
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Old 09-23-2013, 07:02 AM
 
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Quote:
Originally Posted by ram2 View Post
Each state has their own monetary limits above which you or your insurance company can sue the other party for damages.
Are you sure about this? My friend reinforced that fact as well. Based upon what he said once the No Fault kicks in, you have no legal recourse to recoup losses from the guilty party.
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Old 09-23-2013, 09:06 AM
 
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Quote:
Originally Posted by WILWRadio View Post
Are you sure about this? My friend reinforced that fact as well. Based upon what he said once the No Fault kicks in, you have no legal recourse to recoup losses from the guilty party.
Your damages are paid by your insurance policy, up to the policy limits. So, for damages up to your policy limit, you would have no 'loses' to recoup - your insurance policy paid you for your loses.

Where you would may have a legitimate claim for damages is when a auto accident results in damage that is in excess of your policy limits. You may have a legitimate claim for that amount that is above the policy limit.
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Old 09-23-2013, 10:05 AM
 
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Quote:
Originally Posted by pepe1 View Post
Your damages are paid by your insurance policy, up to the policy limits. So, for damages up to your policy limit, you would have no 'loses' to recoup - your insurance policy paid you for your loses.

Where you would may have a legitimate claim for damages is when a auto accident results in damage that is in excess of your policy limits. You may have a legitimate claim for that amount that is above the policy limit.

You can sue to reclaim your deductible, even if within your policy limits.

If have have $800,000 in hospital costs and only $100,000 in insurance, you can sue for the difference.
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Old 09-24-2013, 09:33 PM
 
5,727 posts, read 9,089,585 times
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Thanks for the additional information.

Looks like the higher cost of insurance will not be that much of an issue after all. After I factored in the cost of state income taxes, property taxes and the general cost of living it appears as though living on the KY side of Cincinnati is about the same as the OH side. So I guess it will come down to trying to figure out the pro's and con's of being in a No Fault state vs. one that is not. I just don't want to get screwed if I am not at fault in a car accident.
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