What Are The Common Mistakes Made When Making Car Insurance Claims?
Car insurance claims are not easy to deal with if you don't follow the due process and this explains why you will find many people caught by surprise when they start to lose their case to third party or certain actions were not taken that the insurer instructed them to do. It should be noted with concern that mistakes made during car insurance claims could make you not getting compensated. Here are the common mistakes that policyholders make when making an insurance claim.
Not informing the police when the accident happensIt is a requirement by the insurer that whenever a car accident occurs and there is an injury or hit and run, you should notify the police immediately. This is not clearly written in the insurance policy but it is important to know this. The action taken will help in the overall reporting of the car accident to further investigate and do the necessary settlement with the relevant parties.
Not notifying the insurance company when the accident happens
After the event of an accident, it is required that you notify the insurance company within 24 hours and this does not include Saturday, Sundar and Public holiday. Make sure that you notify the company within this time because car insurance claims made past the required time frame are declared as late reporting and can be void and they are normally not compensated.
Escaping the scene of the accident
When a car accident occurs, please remain at the scene of the accident until it is confirmed by the relevant authorities that need to be involve or you have settled with the Third Party. Fleeing the scene will only worsen the situation and make things hard for you. Therefore, it is important that you remain at the scene of the accident until it is properly established how the accident happened. After all, there is no need to be afraid because the insurance company will take care of the damages that resulted from the accident.
Admitting that it is your fault
No matter how minor the damage from the accident may seem, please avoid admitting that it is your fault. The damage may seem minor but it could worsen when the third party is injured and develop other complications later. Car insurance claims are to be handled with caution for mistakes can lead to the insurance company not compensating the damages of the car accident.
If both parties agree to settle privately, do ensure a Private Settlement Letter is being drafted and sign by both parties and in the letter, it stated clearly that both parties are not at fault and agree to settle privately with claiming from each other car insurance policies.