To simplify the claims process after an accident, many states have adopted no-fault insurance laws. Instead of waiting to see which driver caused the crash, each person’s insurance covers their own expenses. But do the advantages outweigh the drawbacks?   

Dr. Seth Hoelscher, department head of  finance, economics and risk management at Missouri State University, shares with WalletHub the benefits and drawbacks of no-fault insurance laws, as well as when to consider adding personal injury protection coverage.