No-Fault Insurance

No Fault Insurance
No Fault Insurance is a system where all individuals insured in an automobile accident can receive compensation for injuries without determining who was at fault.
No-Fault Automobile Insurance Liability
A type of coverage in which an insured's own policy indemnifies them for bodily injury and/or property damage without regard to fault. This system is designed to simplify claims and reduce litigation in auto accidents.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.