Singlespeed & Fixed Gear - No-Fault Insurance?

Can somebody please explain no-fault insurance to me (for NY) or point me to a website that does? I'm about to turn my messengering into a full-time occupation for a few weeks, and I just donated my only brake to my girlfriend. Don't want to get caught with my pants down (knock on steel). THanks.

In nyc no matter whos fault it is, its covered through the state. It usually works between two cars.

Lets say 10 years from now the city make you carry bike insurance..

nofault, from what a friend of mine in the isurance world tells me, is complete BS. It essentially means that no matter who was at fault-both people are held financially responsible. I'll give some more info when I talk to my insurance friend.

The theory behind no-fault is that a lot of money is spent determining and litigating fault in low-cost accidents. Rather than shelling out the money for the attorneys and adjusters, for accidents under x dollars in value, the state simply requires the insured party's own carrier cover all costs up to the limit. In theory this will lower costs because insurance companies can shed a lot of the costs associated with low-value accidents.

In practice this works at the beginning. Very quickly, however, a much higher percentage of claims will squeak just under the magical no-fault limit, making for a lot of claims that aren't investigated but ultimately put a significant financial strain on the system.

http://www.bikeforums.net/showthread.php?t=104274&highlight=no+fault

Don't know if this what your worried about, but it sounds like a nightmare...

That particular scenario isn't really a product of a no-fault state. It's an example of how your choices in a no-fault situation may affect your claims in the event of an accident but a person could come up with an equally ugly scenario for a tort claim state.

Doesn't make it suck less, but it's sort of predictable (other than the weird fact that it involves your auto insurance if any of the parties were driving).