This is what is referred to as the “payor of last resort” for motor vehicle related claims. This means this is the last place to apply to for accident benefits, if no other insurance is available.
The Motor Vehicle Accident Claims (MVAC) Fund provides compensation to people who are injured as a result of automobile accidents when no other insurance policy exists to “respond” to the claim. This includes accident benefits claims and tort claims (third party claims).
How does this work? The MVAC Fund is for claims involving accident victims who were involved in an accident with an uninsured or unidentified driver or a stolen vehicle when no liability (at fault) insurance exists.
The MVAC provides compensation for personal injury and property damage claims. It is important to note that there is a limit to how much money you can recover.
If you are the victim of, for example, a hit and run, and you do not have any insurance available to you and you have no information on the driver, you would make an application for accident benefits to the Motor Vehicle Accident Claims (MVAC) Fund.