Motor Vehicle Accident Indemnification Corporation: Your Ultimate Guide

Document for Cezara Bianchi v. Motor Vehicle Accident Indemnification from trellis.law

Introduction

Motor vehicle accidents can be a traumatic experience for anyone involved. Not only can it cause physical injuries, but it can also lead to financial damages. In such cases, the Motor Vehicle Accident Indemnification Corporation (MVAIC) comes to rescue. MVAIC is a non-profit organization that provides compensation to the victims of motor vehicle accidents in New York State. In this blog, we will discuss everything you need to know about MVAIC, its services, and how it can help you in your time of need.

What is MVAIC?

MVAIC is a non-profit organization established by the New York State Legislature in 1958. Its primary goal is to provide compensation to the victims of motor vehicle accidents who are not able to receive compensation from any other source. MVAIC is funded by the insurance companies in New York State, and it is governed by a board of directors appointed by the governor.

Who is Eligible for MVAIC?

To be eligible for MVAIC, the following conditions must be met:

The accident must have occurred in New York State
The accident must involve a motor vehicle
The accident must result in personal injury or death
The injured person must not be able to obtain compensation from any other source

What Services Does MVAIC Offer?

MVAIC offers the following services to the victims of motor vehicle accidents:

Compensation for medical expenses
Compensation for lost wages
Compensation for pain and suffering
Compensation for wrongful death

How to File a Claim with MVAIC?

To file a claim with MVAIC, you need to follow these steps:

Report the accident to the police and get a copy of the police report
Obtain the insurance information of the other driver involved in the accident
File a claim with your own insurance company and obtain a denial letter
Contact MVAIC and file a claim within 90 days of the accident

What is the Deadline for Filing a Claim with MVAIC?

The deadline for filing a claim with MVAIC is 90 days from the date of the accident. It is essential to file the claim within this timeframe; otherwise, your claim may be denied.

What is the Coverage Limit for MVAIC?

The coverage limit for MVAIC is $25,000 for bodily injury or death per person, with a maximum of $50,000 for bodily injury or death per accident. In other words, if there are multiple victims in an accident, the total compensation cannot exceed $50,000.

What are the Alternatives to MVAIC?

If you are not eligible for MVAIC, you can consider the following alternatives:

Filing a claim with your own insurance company
Filing a lawsuit against the other driver involved in the accident
Seeking compensation from other sources, such as workers' compensation or disability insurance

MVAIC vs. Insurance Companies: Which is Better?

MVAIC and insurance companies both provide compensation to the victims of motor vehicle accidents. However, MVAIC is only available to those who are not able to obtain compensation from any other source. If you have insurance, it is always better to file a claim with your own insurance company first. Insurance companies usually offer higher coverage limits than MVAIC and provide quicker compensation.

Conclusion

Motor vehicle accidents can be a traumatic experience, but MVAIC can help you in your time of need. If you are not able to obtain compensation from any other source, MVAIC can provide you with the necessary compensation for your medical expenses, lost wages, and pain and suffering. Remember to file a claim with MVAIC within 90 days of the accident and provide all the necessary documents to ensure a quick and smooth process.