Fear of an insurance rate hike is often the concern behind that question. But there are some important factors to weigh as you determine your best course of action.
Seven in 10 auto accidents in involved another vehicle, according to Department of Transportation data, as did 52 percent of car insurance claims filed in recent years by more than 31, Consumer Reports subscribers surveyed last summer. If your mishap falls in that category, always report it, especially if you may have been at fault, because your coverage also protects you against liability for harming others.
Your insurance company and some state laws might require you to report in such cases ask your insurance agent about the policy and state requirements. Repairs often cost more than reasonable people anticipate. Even the lack of immediate injury can be deceiving. The adrenaline rush accompanying even a low-impact crash can mask injury symptoms, and soft-tissue damage can take 24 to 48 hours to show up.
Bogus injury claims are another possibility worth considering and can result from staged accidents and other fraud, according to the National Insurance Crime Bureau. Check our car insurance buying guide and Ratings.
Your toughest decision-making challenge comes when the damage is to your own vehicle and property. But among our subscribers, 7 percent of claimants felt that their insurer unfairly raised their premium as a result of their claim.
Your insurer can tell you the rule in your state. If the accident occurs during inclement weather, your call to or local law enforcement might be met with instructions stating that, if there are no injuries involved, local law enforcement personnel cannot respond to your accident scene due to other emergencies presented by the weather conditions.
In that situation, nearby convenience stores or gas stations often have accident report forms that you and the other driver can complete and then mail to the local law enforcement agency. People who are involved in minor collisions often try to avoid reporting these types of accidents to their insurance companies for two reasons:.
It is important to understand that every single automobile insurance policy in the country requires policyholders to immediately report any accident in which they are involved. Failing to report an accident to your insurance company may result in significant complications or penalties down the road. Let's say you agree with the other driver at the accident scene that you'll just "work things out" and not file insurance claims which is a bad idea, by the way , what happens if the other driver gets home and realizes the damage was more severe than she first believed?
Or, maybe injuries later appear that weren't obvious at the accident scene? If, after several weeks or months the other driver makes a claim for unnoticed vehicle damage, or for injuries that have cropped up, your insurance company might deny certain protection to you because you failed to promptly report the accident.
So, your attempt to avoid a possible increase in your insurance premiums may result in even greater monetary losses down the road. The only time it might be reasonable to avoid reporting an accident to the insurance company is if the accident happens in your vehicle, on your property, no injuries are involved, and the only damage is to property that you own.
Let's say you backed into the garage door or scraped a fence next to your driveway. In that situation there is no dispute with another person about fault for the accident, and no possibility of a dispute about the cost of repairs. The information provided on this site is not legal advice, does not constitute a lawyer referral service, and no attorney-client or confidential relationship is or will be formed by use of the site.
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Reporting an Accident to your Insurance Company People who are involved in minor collisions often try to avoid reporting these types of accidents to their insurance companies for two reasons: the driver assumes that his insurance rates will increase, and the driver assumes that things can just be "worked out" with the other driver without involving the insurance companies.
At the very least, anyone who has been in an auto accident in Arizona is required to exchange information with the other driver. Failure to comply with the law can result in everything from fines to license suspension to criminal charges, so if you have any doubt whether or not your accident meets those requirements you need to go ahead and stay at the scene and wait for the police. Just make sure you move your vehicle out of a travel lane if possible. Unfortunately, there may be more damage than you realize, and you could end up paying more than necessary or even get in trouble later.
Unless you stay at the scene, you are giving the other driver the opportunity to make a report without your input. The accident report is an important piece of evidence and includes information such as what kinds of vehicles were involved, what kinds of damages were sustained, and how the accident happened. Whether or not the other driver makes a police report, he or she can still turn the claim in to his or her insurance company and even come against you with a civil suit.
The other insurance company will contact your insurance company with the claim if you left your information as required. There is a two-year statute of limitations on a lawsuit resulting from a car crash, meaning that you the other driver can wait until the end of the two-year mark before filing. You may have almost forgotten about the incident by then, especially if it was really a minor accident.
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