The Effects of a Choice Auto Insurance Plan on Insurance Costs
Choice auto insurance would let drivers choose between traditional auto insurance and a no-fault plan. This report estimates how choice auto insurance would affect auto insurance costs in each state. The authors analyze the cost effects of a choice between tort and absolute no-fault in each of the states that now relies on the traditional tort system. (Absolute no-fault means that motorists neither recover nor are liable for noneconomic loss for any auto accident injury). For states that already have some form of no-fault auto insurance, the authors consider a plan offering a choice between the state's current no-fault plan and absolute no-fault. Key findings are that if insurance premiums are proportional to compensation costs, drivers who choose absolute no-fault should save about 60 percent on their premiums for personal injury coverage. The plan will have little effect on drivers who opt for coverage under their state's current system.
- Format:
- Paperback, 74 Pages
- Year:
- 1995
- List Price:
- $13.00
- Price:
- $10.40 Special 20% Web Discount
- Full Document (pdf format)
Use Adobe Acrobat Reader version 7.0 or higher for the best experience.
Document Details
- Copyright: RAND Corporation
- Availability: Available
- Format: Paperback
- Pages: 74
- List Price: $13.00
- Price: $10.40
- ISBN/EAN: 0-8330-1641-5
- Document Number: MR-540-ICJ
- Year: 1995
- Series: Monograph Reports
This report is part of the RAND Corporation monograph report series. The monograph/report was a product of the RAND Corporation from 1993 to 2003. RAND monograph/reports presented major research findings that addressed the challenges facing the public and private sectors. They included executive summaries, technical documentation, and synthesis pieces.
Permission is given to duplicate this electronic document for personal use only, as long as it is unaltered and complete. Copies may not be duplicated for commercial purposes. Unauthorized posting of RAND PDFs to a non-RAND Web site is prohibited. RAND PDFs are protected under copyright law. For information on reprint and linking permissions, please visit the RAND Permissions page.
The RAND Corporation is a nonprofit institution that helps improve policy and decisionmaking through research and analysis. RAND's publications do not necessarily reflect the opinions of its research clients and sponsors.
RAND® is a registered trademark. Copyright © 1994-2012 RAND Corporation.