Auto insurance: Steps involved in filing a claim
Posted by: Auto Buff / Category: Car Maintenance TipsAn auto insurance policy may be defined as an agreement between you and your insurance company. You purchase an auto insurance policy and pay the required premiums and in turn, your insurance company promises to pay for financial losses in the event of a car accident. It is advisable that you buy adequate auto (car) insurance policy so that you get right amount of coverage when required.
It is not always your fault if you meet up with a car accident. However, you will have to file a claim to get the insurance coverage. There are certain steps involved in filing a claim. The steps are discussed below.
- Call police – In the event of an accident, you should at first check whether or not anyone needs medical attention. You should call the police as you need the police report for filing claim.
- Exchange information – Exchange contact information and license plate numbers with the other parties involved in the accident.
- Look for witnesses – It is really important to look for witnesses who’ll be willing to describe the incident if necessary; collect their contact information as well.
- Call your insurance company – You should get in touch with your insurance company as soon as possible.
- Other party is guilty – If the other party is at fault, then you should inform his/her insurance company that you’re filing a claim through your provider and mention that you seek reimbursement for costs that your company will not bear.
- Receive other company’s call – You may get a phone call from other insurance company, who’ll want to know your version of events that caused the accident.
- Estimate of coverage – An adjuster checks your vehicle to make an estimate of your insurance coverage; on the basis of which your insurance company either pays the amount that you require for the repair work or pay your car’s depreciated value if it is beyond repair.
If you think that the damage settlement is too low in comparison to what you need either for the repair work or to buy a new vehicle, then you can dispute it by filling out a form of arbitration. You may have to file a lawsuit if necessary.
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