Auto Insurance Claims
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The truth about filing auto insurance claims is they are usually simple, easy, and straightforward. The National Association of Insurance Commissioners is the oldest association of state officials in existence in the United States. Since 1871, the insurance industry has been regulated and supervised by the NAIC so that the consumer would be assured of protection against fraud, misappropriation of funds, and intimidation. With these assurances, the industry has blossomed into a very user friendly milieu. Because of the NAIC, people who carry coverage can rest easy when the time to file auto insurance claims becomes a reality. The amount of each claim is very different, just as coverage for every person and combination of person-vehicle is unique.
A typical policy has either one or two parts. The first part of any auto policy is liability insurance. "Liability only" coverage is essential in many places. Liability covers the other guy. Auto insurance claims filed against liability policies do not pay out to the individuals who pay for the policies. These policies pay out to the injured party. And even if not a legal requirement, a wise practice would be to carry coverage just in case a person is involved in an accident. An accident is just that. It is not an "intentional." People generally don't wake up one morning and say to themselves, "I think I will have an accident, today." For the most part, a car accident happens when two people are not paying attention. There is a train of thought that contends that it takes only only person to cause an accident. Although true in some circumstances, the reality is most accidents happen when both parties are distracted. Even if only for a moment, a distraction while driving can have a horrendous outcome.
It's a good thing that car insurance also has other, more substantial coverage than liability only. Comprehensive and collision coverage are usually paired. When comp and collision are added to liability; the plan becomes a full coverage plan. If a person has ever financed a vehicle, they know about this type of plan. Comprehensive coverage pays when a collision is not involved. Things like vandalism, storms and or other natural disasters that cause damage to a vehicle, and passive objects; like a lamp post, electrical wires, or a tree that falls onto a vehicle are covered under comprehensive. Collision helps to protect a person's auto when there is an accident involving a collision into both moving and stationary objects. Included in collision are other vehicles, trees, posts, and even water hydrants that a person may accidentally collide into. In the case of auto insurance claims, comp and collision (as it's called) pays out to the owner of the policy as well as any injured party. For example; if a person is involved in an accident in which they have been found to be at fault, the policy would pay to repair damages to the other car and perhaps medical bills for the other party. In addition, the policy would cover the costs to repair the insureds vehicle and their medical bills as needed.
Auto insurance claims that have comp and collision included will help pay repair bills up to a certain percentage of the value. Once that percentage is reached, the car is considered a total loss. Then, the policy will pay the insured the actual cash value or replacement value of the vehicle. Surety companies use a standard calculation to determine the value. They take into account the vehicle's age, wear and tear, and the cost to get a similar replacement vehicle. There are also add-ons that are available for full coverage plans. Some surety companies offer towing services, car rental reimbursements, or media system replacement. "Curse not the king, no not in thy thought; and curse not the rich in thy bedchamber : for a bird of the air shall carry the voice, and that which hath wings shall tell the matter." (Ecclesiastes 10:20).
Thanks to advances in technology, filing auto insurance claims are astonishingly easy. The policy number is the most essential piece of information needed. The policy number identifies the person or persons who are insured, the details of the insured's plan, and the dates of coverage. When a claim is filed, the individual is assigned to an insurance claims adjuster. The adjuster's job is to collect and assemble all the relevant data for the claim from the insured, witnesses, the highway authorities, and medical providers; if necessary. A decision is made by the surety company as to the amount of money that will be paid out for a claim. It would be helpful for the claimant to have prepared a detailed and concise statement about the incident or accident. If photos can be taken; all the better. Witness statements are added to reinforce the insured's loss claim. A report from the highway patrol or police will serve to document the event in case there is more than a mere insurance claim. Medical records are only needed when personal injuries are involved in auto insurance claims. When a person is not sure whether a physical trauma exists, seek medical attention. Unless attention is sought at the outset, there may be a problem in isolating a non-reported accident as the cause of an injury; later on down the road.
Naturally, accidents sometimes happen to people who consider themselves especially careful. Then, there is all of the rest of humanity. At some time or another in most people's lives (who drive cars), there will be an incident of some type. It could be something as innocent as a hail storm that dents your car. Or, there might be a Mack truck plunging toward a person head on (and they live to tell about it). Whatever the circumstance, dealing with auto insurance claims need not be the most traumatic part of the experience.
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