Cover: The Effects of a Choice Automobile Insurance Plan on Insurance Costs and Compensation
Read Online

The Effects of a Choice Automobile Insurance Plan on Insurance Costs and Compensation

An Updated Analysis

by Stephen J. Carroll, Allan Abrahamse

Download

Download eBook for Free

FormatFile SizeNotes
PDF file 3.7 MB

Use Adobe Acrobat Reader version 10 or higher for the best experience.

Purchase

Purchase Print Copy

 FormatList Price Price
Add to Cart Paperback86 pages $9.00 $7.20 20% Web Discount

This report updates an earlier study in which the authors estimated the effects of a choice automobile insurance plan on the costs of compensating auto accident victims in which the no-fault option was absolute no-fault (ANF). The authors assumed that 50 percent of the consumers who would have purchased auto insurance under their state's current system would switch to ANF under the choice plan. That study, requested by the Joint Economic Committee of the U.S. Senate and using data from 1987, estimated how a variant of that plan would affect the cost of private passenger auto insurance if all currently insured drivers elected the no-fault option. The present report uses recently obtained data for a representative sample of people who were compensated for auto accident injuries in 1992. With these data, the authors have replicated their analyses for 46 states. They find that the choice plan could substantially reduce the costs of compensating people injured in auto accidents.

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.

This document and trademark(s) contained herein are protected by law. This representation of RAND intellectual property is provided for noncommercial use only. Unauthorized posting of this publication online is prohibited; linking directly to this product page is encouraged. Permission is required from RAND to reproduce, or reuse in another form, any of its research documents for commercial purposes. For information on reprint and reuse permissions, please visit www.rand.org/pubs/permissions.

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.