Tag Archives: auto insurance claims

Filing a Car Insurance Claim after an Accident

Posted by author on January 21, 2009 Comments Off

Reader’s Question:

I had recently been in a small accident. No one was injured, but my car has a few scratches. How soon should I file a car insurance claim?

Jet

Indianapolis, IN

When it comes to filing a claim from your car insurance provider, it is always best to do it as soon as possible. The statute of limitations for filing a claim is different for each state. You can contact the Indiana Department of Insurance that is located right there in your city to find out exactly what is the acceptable period of time to file a car insurance claim.

Indiana financial responsibility laws mandate that each of its residents driving in its public roads have the minimum liability coverage. It is probably safe to assume that you at least have this coverage in your car insurance policy. It is fortunate therefore that no one was injured in your small accident. So, you really don’t have to worry about anything in terms of medical expenses.

You did mention however that you car sustained a few scratches. But you didn’t mention who was declared at fault. Knowing who was at fault is essential as Indiana uses the tort system. Several things can happen then depending on who caused the accident and whether you have collision and comprehensive coverage. Collision and comprehensive coverage is not required in your state, but it is the type of insurance that pays for damages to your own vehicle. Liability coverage only covers the damage to the other motorist’s car. If you happen to be the one responsible for the accident, and you don’t have collision and comprehensive coverage, then filing a claim becomes moot and academic. If the other party was declared responsible, then his or her liability coverage should be the one to pay for the repairs to your vehicle. If you have collision and comprehensive coverage, anyway, you can forego pursuing the other driver to save time and expense for litigation and just rely on this coverage. However, the simplest way to approach the situation is to honestly assess the damage to your car. If getting a ‘few scratches’ fixed is not going to cost you that much, maybe filing a car insurance claim would be superfluous. Remember that the claims you make are noted down by your car insurance provider. This goes into your claims history and could possibly affect your premiums when the time comes to renew your policy.

Lowering Business Car Insurance Premiums

Posted by author on January 17, 2009 Comments Off

Reader’s Question:

I want the best possible way to lower commercial/business car insurance premiums. Can you give me some tips or advice on how I could cut cost on premiums?

Randall

Carson City, NV

Here are some tips in getting lower business car insurance premiums:

  • Employ An Experienced Driver. If you are trying to put up a business, a business that concerns driving to be specific, you must have experienced drivers in tow. Once an insurance company assesses your risk index, having experienced drivers will contribute to lowering your premiums. Pick experienced drivers rather than young inexperienced ones. However, if having a young driver cannot be avoided, enroll them in driving schools. At least; this, too, can help you score lower on risk assessment, and thus help you get lower car insurance premiums.
  • Avoid Unnecessary Claims. How often you make claims will have a direct effect on your business car insurance premiums. The more you made claims from previous insurance company, the more likely your current insurance company will increase your premiums.
  • Increasing Your Excess. Although this option may not always work the same way for each company, increasing your excess may still help you save a bit of money.

There are many other different ways to lower your business car insurance premiums. You should also ask your car insurance provider regarding eligibility for discounts, and make sure you meet the criteria they set for such discounts.