Few things are more important than having the right insurance coverage. About ten years ago, I was involved in a near-fatal crash where I experienced traumatic physical and emotional injuries. It was really challenging for me to endure the hospital stay and subsequent physical rehabilitation, but with the help of my medical team and my insurance company, I was able to overcome the challenge and completely recover. This blog is all about the importance of choosing the right insurance plan so that you can get on with your life and enjoy those precious years with your family and your friends.
When you're in a minor accident, it's common to question whether it's a must to include your auto insurance company in the settlement process. Before making your decision on whether or not to get your insurance company involved, consider the three questions below.
Did the Accident Involve Another Vehicle?
If this was a one-car accident, you may have some more wiggle room when it comes to deciding whether or not to file a claim with your insurance company. In a two-car or more accident, however, the decision will come down to what's best for all involved.
Keep in mind that it's not a legal requirement that an auto accident be reported to your insurance company. Reporting an accident, however, can save you from lots of trouble and financial setbacks in the future. This is especially true if neither driver admits fault or if there's a question as to whether can injury will occur down the line.
Now, if more than one car is involved in the accident, it's still possible to settle without insurance companies getting involved, but whether or not that's wise will depend on a number of other factors, especially the two mentioned below.
Was Anyone Injured as a Result of the Accident?
This is likely the most important indicator of whether or not you should get your insurance company involved after a minor fender bender.
If an injury occurred as the result of an auto accident, it's best for all involved to get the insurance company involved. This includes injuries to another driver, a pedestrian, or a passenger in the other vehicle or your own. Does this mean you need to work with your auto insurer if you're the only injured party? Absolutely not, but if another driver is at fault, it may be better to let the auto insurers hash out the settlement instead of taking full responsibility for all medical costs. Even if you think the medical costs will be minor, injuries can crop out later that are related to the accident and may need further care.
Was Any Property Damaged?
It's possible for you to settle on property damage without the help of your auto insurer, but it may not always be the best option.
Property damage from an accident, whether it occurs to another vehicle, a fence, or someone's home, can be expensive. In the event of such an occurrence, it may be best to work through your insurance company so that your expenses are limited to the deductible. This is especially true if the costs to fix the property are more than you can handle up front.
While many people would like to involve filing accident claims on their auto insurance at any cost, it's important to remember that insurance is there for your benefit. For more information, visit http://www.martininsurancecompany.com or a similar website.
Share13 July 2016
