What Car Accident Insurance Does for You and Your Car
There are many things people do not know about car insurance, so they often dismiss this as something unnecessary. However, car accident insurance, also known as collision coverage, is one thing any responsible driver must have. Basically, having one will give you two advantages should you meet a car accident. First, it covers car repair expenses regardless of who was at fault. Even if you are at fault, the company will still disburse your expenses. Second, in cases when the accident causes irreparable damages, you will be given cold cash to replace the car you lost.
Car accident insurance comes with deductibles, which are the payments not shouldered by the company if you are involved in an accident. Before the insurance provider pays up, you, as the insurance holder, will have to pay this amount stated in your policy. For example, if the total cost of the accident is $2,500 and you state a deductible of $500 in the policy, then you have to pay this amount at the time of the accident. The insurance company, on the other hand, will pay the rest.
A higher deductible means the price of the insurance company's coverage decreases, which in turn, will lower the insurance premium. On the other hand, a lower deductible entails a higher premium. In any case, make sure you state a deductible you are capable of paying.
Filing Insurance Claims
Not all states require car accident insurance, although there are some that require third-party liability coverage. This is the minimum insurance policy that covers the costs of the harmed party, should you be at fault. Though not required by the law, getting one is still a recommended option, especially if your car is on loan or has just been bought. It will also be very handy should you meet an accident, both for your car and your own well being.
Once you have already applied for an insurance policy, it would be much easier to deal with car accidents, should there be one. You know for sure you are not alone in shouldering the damages incurred by the accident. All you have to do is to file your claims both to the party at fault and your insurance provider.
To facilitate your car accident insurance claim in the unfortunate event that you meet an accident, contact your insurance provider right away. Make sure to take note of all the details of the accident and keep all the related receipts of expenses.
When you are about to file a claim, give your insurance provider a call or personally visit their office. Some companies even allow online filing for minor incidents. You just have to make sure you are familiar with your insurance policy because doing so guarantees fully maximized coverage.