Car accidents can be a huge financial burden. Imagine having to deal with insurances, getting your car fixed, possibly repairing the other person’s car, and having to pay for various other damages from the collision. It can be quite the headache.
Here are 4 money saving tips to help ease the financial burden if you get into a car accident.
Call the Police
It is best to call the police and report the accident immediately. This will ensure a police report has been prepared and filed for the accident. Police reports can be really useful in providing important information if you decide to bring your case to court.
Oftentimes, the police report will specify the date of the accident, the approximate time, the weather, names of witnesses to your injury, and other pertinent information surrounding your accident. One of the best advantages of filing a police report is that the police will record the name of any witnesses that can testify in trial.
Go to the Hospital
After a car accident, if you sustained any injuries or feel that the injuries are minor after a car accident, go to the hospital. Serious injuries can oftentimes seem small at first and you should take every precaution. Getting medical treatment after an accident makes certain that you have written evidence for an injury claim.
In a personal injury claim, the insurance companies will always look to lower the amount of compensation for your injury claim. It is crucial to go to the hospital right away because if you do not, insurance companies will try to argue that there was a gap in treatment.
Imagine if you tried to claim to the insurance company that you were injured in the car accident but you did not see a doctor until 3 months after the accident. The insurance company will say that your injuries are not as serious as you claim and you would get a less money.
Seek Settlement Outside the Insurance Company
If an accident was your fault, you can seek settlement without getting the insurance companies involved. Having an accident that was your fault on your record can increase your insurance premiums. You have every right to settle car accident damages with another party without getting the insurance companies involved. There is no fraud in seeking a settlement outside of the insurance companies.
However, there is a risk of the other party seeking additional damages in the future even if the other party agreed that the damages could be settled personally. This can be avoided with a signed damage waiver.
Here is a damage waiver that you should print out and store in your car for emergency purposes.
A signed damage waiver by the other party will nullify any attempts of a surprise future claim.
Don’t Talk To The Other Person’s Insurance Company
If a car accident occurs, you generally do not want to speak with the other party’s insurance company. Do not give a recorded statement to the other person’s insurance. Especially if you or a passenger in your car are making a claim for serious personal injuries. The other driver’s insurance will try to build a case against your claims for injuries. You do not want to give them any evidence to devalue your injury claims.
You shouldn’t speak with the other driver’s insurer unless if you have an adjuster from your own insurance company or a car accident attorney or who can speak on your behalf. There are some instances where it is a good idea to talk to other party’s insurance company. If the other party, who was clearly at fault, refuses to speak with you or even lied to their own insurance company, you would need to talk to the other person’s insurance.
Also, do not write about your accident in social media. This info could potentially be taken out of context and used against you to devalue your case and minimize your injury claims.
It’s Time to Save Money
Car accidents can happen at any time and cause a financial burden. These tips can save you a ton of money and hassle if you were to ever get into a car accident.