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Article: N0-fault auto insurance: Too good to be true?
- Article from:
- Knight Ridder/Tribune News Service
- Article date:
- June 15, 1999
- Author:
CopyrightCOPYRIGHT 1999 Knight-Ridder/Tribune News Service. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The other day, the Senate Commerce Committee had another one of those congressional hearings on no-fault auto insurance. The bill before the committee is S.837, designed to replace the states' auto insurance laws with an auto ``choice'' no-fault system, backed by some insurance companies led by State Farm.
Here is the deal offered by S.837 _ if you give up your right to compensation for your pain and suffering and agree to drastic reductions in benefits, the federal government will predict, but neither promise nor guarantee, savings for motorists of $35 billion a year. It will be up to the insurance companies to give you these savings. Just how much would you ...