No matter how safe of a driver you are, you will probably be involved in at least a few collisions over the years. While those accidents may be minor they can still be expensive, there are a few steps that you can take to cover some of the costs and protect your finances.
Double-Check Your Auto Insurance
In an ideal situation, the party that is responsible for the accident will have their insurance pay for all of the damage. Unfortunately, there are many uninsured and underinsured drivers out on the road, and you could end up dealing with some major problems if you get into a collision with one of those individuals. Luckily, you should be able to upgrade your auto insurance to cover underinsured and uninsured drivers for a small monthly fee. Many states require that all car insurance policies include uninsured motorist coverage. The Balance includes a good description of the various components of most auto insurance policies including:
- Bodily Injury Liability,
- Property Damage Liability,
- Personal Injury Protection,
- Uninsured/Underinsured Motorist Protection
Not every state requires all of these but all are important to have in order to protect yourself from possibly terrible expenses in the case of an accident.
Take a Look at Your Personal Health Insurance
Many drivers are surprised to hear that their health insurance might cover some of their medical bills after an accident. As a general rule, your auto insurance will help you deal with those bills initially, but there may come a point when your policy is exhausted. If that occurs, then you should contact a representative from your health insurance provider to see if they can help.
Build an Emergency Fund
Even if your bills are eventually going to be covered by a settlement, that process can be very lengthy. That is one of the reasons why many people suggest that all drivers build a small emergency fund. That fund should be able to cover a few basic expenses, such as vehicle repairs and car rental fees. Some experts also suggest having a credit card that can be used during those types of emergencies.
Contact an Attorney
Dealing with a collision can be a lengthy and complicated process, and you might not want to struggle with the legal aftermath on your own. An experienced car accident lawyer is going to be invaluable if your collision escalates into a civil case or if the insurance representatives aren’t offering you a fair settlement. Your legal representative will be able to put in the legwork so that you can focus on your recovery.
Even if the accident seemed relatively minor, you should still head to the hospital right away if you think that you might have any injuries. A seemingly minor health problem that doesn’t get treated can quickly spiral out of control, and no one wants to deal with long-term medical issues in the years following a collision.
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- Things to Consider Adding to Your Auto Insurance
- Car Hunting on a Budget
Brooke Chaplan is a freelance writer and blogger. She lives and works out of her home in Los Lunas, New Mexico. She loves the outdoors and spends most of her time hiking, biking, and gardening. For more information, contact Brooke via Facebook at facebook.com/brooke.chaplan or Twitter @BrookeChaplan
