While you may know what auto insurance is, knowing the finer details of the insurance and its several aspects helps you to buy the right coverage based on your unique needs and be prepared in case of an accident. This blog will discuss how to handle the several situations you may find yourself in following an accident to maximize your benefits.
Coverages Offered in Automobile Insurance
Auto insurance is available through several coverage options, and you may buy coverage specific to your needs. The common coverages are:
- Liability
- Collision
- Comprehensive
- Uninsured/Underinsured Motorist
- Medical Payments
Is Having Automobile Insurance Compulsory?
Having basic liability automobile coverage is compulsory in several states. While the other coverages are optional, you must ensure that you are adequately covered for any eventuality that may cause loss or damage.
Review of Insurance I Have Vs. Insurance I Need
You must review your existing coverage to be sure that the coverage is sufficient for your current needs. Also, in situations such as when you buy a new car or a new driver starts driving, your insurance needs may change. You may ask your insurer and get the required added coverage.
What Should I Do If I Am Involved in a Motor Vehicle Collision?
After an accident, you must take the following steps:
- Exchange insurance details with the other driver
- Take pictures
- Inform your insurance provider
- File a claim
- File a police report if required
What Does My Insurer Do After My Accident?
Your insurance provider will open an investigation once you file a claim. They may need:
- Detailed description of the accident
- Names of witnesses, if any
- Photos of the accident scene as documented proof
Should I Give My Statement to the Insurance Provider of the Other Driver?
You are not legally bound to speak with the other driver’s insurance provider. If you do, it must be with proper legal guidance, as your statement may be used against you to deny your claim.
What Should I Do if the Other Insurance Provider Wants to Settle My Claim?
You must not agree to any settlement before you know the extent of your injuries or car damage and the costs involved. By allowing them to reach an early settlement, you may settle for much less than you deserve.
When your home is damaged by a natural disaster or other catastrophic events, you want to know whether or not your homeowners insurance will take care of the entire cost of the renovations. The amount of coverage you get will depend on several factors. Your homeowners insurance may only cover some of what you need it to. If you have questions, contact your agent and discuss your policy.
The Right Homeowners Policy for Your Home
It’s essential to have the right homeowners insurance policy. This may mean including a flood insurance policy if you live in a flood plain or hurricane coverage if you live along the coast where this type of storm frequently occurs. Most homeowners policies carry some type of coverage for renovations. If you find it doesn’t, you must add this type of coverage if you want peace of mind. Your agent will be able to help you get the right kind of coverage that is sufficient for your needs.
Policy Changes Before Renovations
Before you make any changes to your homeowners insurance, you must find out precisely what type of coverage you already have. If you have the right type of insurance, you may want to increase the amount of coverage. Liability and dwelling coverages will only go so far when renovations are underway. If you work with your agent, you will be able to find the right types of coverage in appropriate amounts.
Common Questions Regarding Renovations and Your Homeowners Coverage
Two common questions include whether or not you need to go through your insurance carrier to make necessary renovations and if renovations will increase monthly insurance premiums. Working with your insurance is essential to ensure that all of your renovations are covered. If you don’t work with your insurance agent, you may end up paying for part of the renovations out of your own pocket. As for the renovations increasing your monthly premiums, you will need to talk to your insurance agent to find out what limits you have to stay within to keep your premiums the same.
Hire a Public Adjuster
During renovations, you are already at risk for liability and damage claims. If an accident should happen, hire a public adjuster. An insurance adjuster works for your carrier. A public adjuster works for you. They may be able to eliminate your stress and help you figure out what your next step is when it comes to finishing up your renovations. They will make sure your claim is taken care of, and your renovations are completed in a timely fashion.
Cover Your Home Renovations with Falsken & Associates
Any time your home is damaged and renovations are needed, you need to work with professionals. Reach out to the agents of Falsken & Associates Insurance Agency at your earliest convenience. Our agents have years of experience and can help you find the answers to all of your questions when it comes to making renovations to your home. Contact us today to learn more.
Should I Sign the Claim Settlement Agreement Offered by the Other Driver’s Insurance Provider?
Before signing any settlement, you must review the agreement with a personal injury lawyer to ensure that your personal interest is not compromised. A signed settlement agreement may impact your legal rights for more compensation.
What Should I Do if I Suffer Injury or Damage Caused by an Uninsured/ Underinsured Driver?
Your uninsured/underinsured motorist coverage can help you cover the losses in such a scenario. While for the uninsured driver, you may have to depend entirely on your coverage, for the underinsured driver, you may have to pay the balance amount after the initial payment from their insurance provider.
Cover Your Vehicles with Falsken Insurance!
For more information on auto insurance coverage, contact us today. At Falsken & Associates Insurance Agency, we can help you through the claim filing process and ensure you get maximum compensation for accident-related losses.
