November 19, 2011

Reading Over Your Auto Insurance Coverage After An Accident

When you get into an accident with your car, it can seem like the end of the world. Assessing vehicle damage will tell you exactly what type of claim it will be. Auto insurance coverage will take care of most if not all of the damage, but you need to read the coverage so you know how to make the claim.

It doesn't matter what kind of accident you're involved in, you want your auto insurance company to take care of the damages. Before you call up your company to make a claim, you need to get out your auto insurance coverage and read through it. You need to determine whether your accident is covered under the collision or comprehensive aspect of your coverage. Collision is for when you collided with something else - property, a person or another car. Comprehensive handles all of the other things that are completely out of your control, like hail damage, someone backing into your parked car in a parking lot and much more.

It's important to know the details of your coverage policy so that you know what to expect when you call. Collision insurance may end up raising your premium because it was within your ability to control it. Comprehensive won't have an effect on the premium because you didn't have any control. You need to make sure your insurance company follows the claim properly.

Assessing vehicle damage will quickly tell you which type of coverage your accident falls into. When you make the claim via the phone or online, your insurance company may send out an adjuster to look at the damage as well. This way they can report on their findings and make sure that it is in line with the way you described the incident's occurrence. The deductible is covered within the insurance paperwork. You need to know exactly what your deductible is because you will need to pay this out of pocket before the insurance company will actually pay anything towards the repairs.

This is where assessing vehicle damage can really save you money. If you assess that there is only about $300 worth of damage and your deductible is $500, it might not be worth it to make a claim. Once you make the claim, you can't take it back - and they may raise your premium because of what is deemed "unsafe" driving. If you make the repairs yourself, however, you don't have to deal with your insurance. The costs would have been covered by you anyways because of the deductible being higher than the costs. This way you simply correct the damage and forget about involving the insurance company.