A Comprehensive Guide to Automobile Insurance and Accidents

Automobile Insurance A Comprehensive Guide to Automobile Insurance and Accidents

While you may know what auto insurance is, knowing the finer details of the insurance and its several aspects helps you to buy the right coverage based on your unique needs and be prepared in case of an accident. This blog will discuss how to handle the several situations you may find yourself in following an accident to maximize your benefits.

Coverages Offered in Automobile Insurance

Auto insurance is available through several coverage options, and you may buy coverage specific to your needs. The common coverages are:

  • Liability
  • Collision
  • Comprehensive
  • Uninsured/Underinsured Motorist
  • Medical Payments

Is Having Automobile Insurance Compulsory?

Having basic liability automobile coverage is compulsory in several states. While the other coverages are optional, you must ensure that you are adequately covered for any eventuality that may cause loss or damage.

Review of Insurance I Have Vs. Insurance I Need

You must review your existing coverage to be sure that the coverage is sufficient for your current needs. Also, in situations such as when you buy a new car or a new driver starts driving, your insurance needs may change. You may ask your insurer and get the required added coverage.

What Should I Do If I Am Involved in a Motor Vehicle Collision?

After an accident, you must take the following steps:

  • Exchange insurance details with the other driver
  • Take pictures
  • Inform your insurance provider
  • File a claim
  • File a police report if required

What Does My Insurer Do After My Accident?

Your insurance provider will open an investigation once you file a claim. They may need:

  • Detailed description of the accident
  • Names of witnesses, if any
  • Photos of the accident scene as documented proof

Should I Give My Statement to the Insurance Provider of the Other Driver?

You are not legally bound to speak with the other driver’s insurance provider. If you do, it must be with proper legal guidance, as your statement may be used against you to deny your claim.

What Should I Do if the Other Insurance Provider Wants to Settle My Claim?

You must not agree to any settlement before you know the extent of your injuries or car damage and the costs involved. By allowing them to reach an early settlement, you may settle for much less than you deserve.

Should I Sign the Claim Settlement Agreement Offered by the Other Driver’s Insurance Provider?

Before signing any settlement, you must review the agreement with a personal injury lawyer to ensure that your personal interest is not compromised. A signed settlement agreement may impact your legal rights for more compensation.

What Should I Do if I Suffer Injury or Damage Caused by an Uninsured/ Underinsured Driver?

Your uninsured/underinsured motorist coverage can help you cover the losses in such a scenario. While for the uninsured driver, you may have to depend entirely on your coverage, for the underinsured driver, you may have to pay the balance amount after the initial payment from their insurance provider.

Cover Your Vehicles with Falsken Insurance!

For more information on auto insurance coverage, contact us today. At Falsken & Associates Insurance Agency, we can help you through the claim filing process and ensure you get maximum compensation for accident-related losses.

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Falsken & Associates

Falsken & Associates is a multi-line insurance agency and brokerage focusing on the specific needs of our commercial and personal lines clients.