Why is No Fault Insurance No Good: Insight from a Victoria Injury Lawyer
As an experienced Victoria injury lawyer, I often find that clients are misinformed about the concept of no-fault insurance. This misunderstanding mostly instigates from a lack of knowledge about the pros and cons of this type of insurance that is used in BC.
With no-fault insurance, dealings are made with your insurance company regardless of who is at fault in the accident. It may sound appealing and efficient as claims can be filed quickly without lengthy legal battles, but as an injury lawyer, I must warn Victoria residents of the limitations of such policies.
First of all, having no-fault insurance restricts your legal rights, especially if you are a victim of someone else's negligence. Your compensation claims are limited under such policies. This can pose a serious concern when traffic incidents lead to severe injuries.
As an injury lawyer, I believe that victims must receive fair compensation, but no-fault insurance often fails to offer this to victims. This is why many believe no-fault insurance is no good.
Fast Facts: No Fault Insurance in British Columbia
- No-fault insurance does not care who is at fault in an accident. Compensation is granted from your insurer, regardless.
- One of the biggest drawbacks of no-fault insurance is limited compensation.
- No-fault insurance can lead to a fast settlement but also limits your legal rights.
- An established Victoria injury lawyer can guide you through the complexities of suing a claim in no-fault insurance
