When should you file an insurance claim in an auto accident?

Have you been in an auto accident?

Has there ever been a time you were involved in a minor car accident and thought about whether you should report it to your insurance company or just pay out of pocket? A lot of people have, this is because of the fear that filing a claim will automatically raise their insurance rates no matter what.

Many think that just coming to a settlement with the other driver and not getting the insurance companies involved makes everything go away but what if the other driver claims an injury later on or if the damage to their vehicle is more extensive than what they originally thought? You could still be eligible for legal action taken against you. 

To prepare for a possible claim against you:

1. Provide the other driver with your insurance information.🤝🏻

2. Call the police. 👮

3. Report the incident to your insurance company. 📱

   1. This is because the insurance company can help you pay for any legal defense you may need as well as, help pay for property damage or injuries to others. This also protects you from the insurance company being able to deny coverage.

There are only a few instances where not filing a claim due to an accident makes sense and those are usually when it is just a single-car accident and no one’s property but that of the person causing the accident is damaged. For instance, you are backing out of your driveway and hit the mail box.

Another good tip for any car accident is to always take multiple photos of your car’s damage and the other drivers before leaving the scene of the accident.📷 This will help protect you in the case the other driver claims something different that actually happened in the accident.

To make sure you always have the right coverage and an expert who can walk you through any insurance claim when they happen. Call The Arnold Insurance Agency. 614-863-0455

What is Umbrella Insurance?

Umbrella insurance

Also known as personal excess liability coverage, umbrella insurance gives you extra protection against lawsuits and claims made against you that exceed what your normal policy covers.

For example, say you are in an accident and you must pay $500,000 in bodily injuries to the other party but your bodily injury limit only covers $200,000.  Where does the other $300,000 you owe come from?  Well, this in effect is the beauty of having an umbrella insurance policy because it will cover the remaining $300k. 

So what does Umbrella Insurance cover?

What's covered under umbrella insurance:

• Bodily injury

• Personal injury

• Property damage

• Landlord liability

What typically isn't covered under umbrella:

• Personal belongings

• What's Covered

• Intentional or criminal acts or omissions

• Written or oral contracts

Who should have it?

Generally, anyone who has 1 million or more in net worth should always have an umbrella policy because the minimum amount sold on a policy is $1 million. However, it might make sense for someone who falls below that number to purchase it.

Arnold Insurance Agency can answer any questions about personal umbrella policies, so you can decide whether having additional liability coverage makes sense for you. Give us a call today at 614-863-0455 or visit www.arnoldinsuranceagency.com.