Insurance Auto Auctions Hosts Big Bad Bike Sales at 14 U.S. Locations MarketWatch (press release)
06.05.10
, Today announced 14 locations that will host the 2010
IAA Big Bad Bike Sales throughout the U.S. The national campaign is
geared toward motorcycle buyers and enthusiasts looking for large volume
and variety of bikes from leading manufacturers.
"For the past 28 years Insurance Auto Auctions has been a leader in the
insurance salvage auction business, and as part of that core focus, IAA
offers motorcycle enthusiasts a unique opportunity to bid on and buy
salvage motorcycles," said Tom O'Brien, CEO. "IAA's salvage motorcycle
auctions offer a vast selection which results in high volume bidding and
high returns."
The 14 participating IAA locations to host the Big Bad Bike Sales
include: Atlanta East, Baton Rouge, Dallas, Fremont (Calif.), Hartford
(Conn.), Indianapolis, Kansas City, Las Vegas, Los Angeles, Minneapolis,
Nashville, Orlando-North, Phoenix, and Taunton (Mass.). IAA auction
preview dates and times vary from facility to facility; go to www.iaai.com for auction information.
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No Fault Auto Insurance
No fault insurance applies to state in which an insurance company will pay for minor injuries resulting from an accident regardless of who is at fault. It also means that policyholders can only sue it their case meet certain conditions.
Florida no fault insurance is intended to reduce the cost of auto insurance by taking small claims out of court. Several industries, particularly the insurance industry favors this system because it lowers legal fees which account for up to 15 percent of the cost of auto insurance.
In states that use the no fault insurance system of auto insurance, each insurer pays its own policyholders for minor injuries regardless of who was at fault in the accident.
Suppose Meg was driving to a rock concert with her roommate, her car was struck by another auto. The driver who hit did not have liability auto insurance. If Meg lives in a no fault state such as Florida, Michigan or New York, her policy will allow her to collect from her own insurer, even though the accident was not her fault. What is more, Meg's roommate would also be covered under the no fault system if she sustained injuries.
Meg receives first party benefits which are mandatory coverage and vary from state to state under the no fault system. If Meg lives in a state that offers the most comprehensive benefits, she would also be paid for medical expenses, time off work, funeral costs (if the accident was fatal), and whatever other expenses she may have incurred.
The following states use the "true" no fault insurance system of auto insurance:
Choice no fault means the a person buying auto insurance can choose between the traditional tort liability auto insurance and no-fault insurance. Kentucky, New Jersey, and Pennsylvania use the choice no fault system.
Add-On
Policyholders in add-on states receives reimbursement for their losses from their own insurance company, but they are also allowed to sue the other policyholder at fault in the accident without restrictions. However the "first party" benefits a policyholder receives from her own no fault insurance company are not mandatory and the benefits may be lower that in the "true" no fault states.
