Getting in a car accident can have repercussions beyond the damage to your body or your vehicle. It can cause you major financial woes for years to come, especially if you don’t handle things correctly. Below are just a few things you can do to save your budget and credit after an accident.
Work with Your Insurance
Your insurance plays a major role in how your finances recover after the accident. Whether or not you are at fault, you need to work with your insurance company to cover the costs of your transportation losses. Whether you need to replace equipment that was in a totaled vehicle or get reimbursed for a rental car while it is in the shop, you should be able to turn to your policy to get some sort of financial relief.
How much you will be able to recover from your insurance company depends on the type of policy that you have. If you only have liability coverage, replacing your ride will be on your own dime. Be sure to understand your policy’s car insurance terminology.
Remove it From Your Record
One of the first things to remember is that your insurance company is not your friend. They are out to look after their own interests, and yours are secondary (if it will save them money). So you might need to contact an attorney who specializes in car accident law if you sense a conflict of interest with your insurance company. You’re not just going to do this to ensure that you get paid back what you owe or to negotiate with the insurance company, but also to prove your lack of liability so that you can get the accident removed from your record. This will help you significantly in the future as you pursue new car insurance policies with lower rates.
Work with an Appraiser
Your insurance company will generally try to give you a low-ball estimate of your losses. Unfortunately, this will rarely work in your favor. Instead of taking their number as a fact, try to work with an appraiser so you can get a much better estimate of what you’ve really lost. From the loss of your vehicle to anything that was inside, an appraiser can put a professional face on your claims and help you to recover more money.
Itemize your Repairs for Full Refund
Finally, you’ll want to keep track of every penny that you spend on repairs once your car is in the shop. Don’t just send the insurance company a bill for them to dispute – itemize everything, and send it back in so that you can get the maximum amount of money back. Having a solid, itemized receipt is the best way to prove to your insurance company that they do in fact owe you money.
Beware of Hidden Injuries
When speaking with the insurance adjuster be sure to mention any injury or pain that you experience. It may seem minor at first but could turn out to be more serious than you think. If you don’t mention it the insurance company could try to say it wasn’t accident related.
It’s always worth it to fight to get what you are owed. Failure won’t just cost you money now, but it can make getting insurance harder in the future. Don’t be afraid to spend money today if it will help to keep your accident off your record and restore your clean driving record.
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