The truth is, accidents can happen to anyone. According to US News, after you have calmed down and properly assessed the situation, it’s important to remember that “while a fender bender tends to be thought of in terms of safety or as an annoyance, it is also a financial transaction.” Before things get out of control and expenses start to grow, here’s what you need to do in order to get back on your feet after an automobile accident.
- Determine who’s at fault. If you can come to a peaceful consensus about who caused the accident, chances are that it will be easier to move forward from it. If drugs or alcohol were involved or you can’t come to an agreement on who is responsible, you will need to get the authorities involved. Evidence will need to documented and court proceedings scheduled. If you were under the influence, start by being honest and accepting responsibility for your actions. Causing injury or damage while using substances is a costly endeavor for anyone involved.
- Exchange information. Make sure each of you have the other’s insurance information and phone numbers. If there are only minor scuffs, you both may choose to forgo officially reporting the accident, and instead, handle it personally. This means you can either take care of repairing your respective vehicles on your own or trust that the other will pay his or her part after you have gotten a quote. Either way, take the time to snap a few photos of the scene before you go so you can file a police report or contact your insurance company later if you see fit. Significant damage and/or injuries mean that everything will need to go through each of your insurance companies in order to determine who will pay for what. If this is the case, contact your insurance provider right away to start a claim. Make sure you get a copy of the police report, which will support your insurance claim and provide proof of your rights to any hospital and vehicle repair reimbursements. Keep in mind that obtaining a police report will cost a few dollars, and if you do not have proof of insurance on you, you run the risk of incurring an additional ticket from a police officer. According to the DMV, if your vehicle is completely totaled, sometimes “it makes more financial sense to sell its parts than to try to repair it and apply for a salvage title.”
- Consider hiring a lawyer. Even if the other driver’s insurance pays out, it may not be enough or occur in a timely manner. You could be left footing the bill for some time until they can properly compensate you. It may be that their insurance company doesn’t pay out at all, and you need to seek outside counsel to get the help you need to regain lost wages or cover legal fees. Before you hire a lawyer, make sure you do your research by checking their track records and getting recommendations from those who have been in your shoes before.
If you were at fault for the accident and had to pay out, know that this will most likely result in your insurance premiums increasing, as you have proven yourself more costly to cover. Look around and get quotes from various companies to make sure you are getting the best deal.
However expensive, you should always carry auto insurance so that both you and other drivers are protected financially. Consider getting full coverage from here on out so you can have peace of mind if and when this happens again.
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