Auto insurance is a very important part of having a vehicle. It gives financial protection in the event of an accident, theft, or other surprising events. However, filing an insurance claim can be a complicated and confusing process. In this blog, we’ll explain the auto insurance claims process, including payouts, turn-around time, and other vital information that would be beneficial for you.
The Auto Insurance Claims Process
If you’ve been in a car accident, the first thing you should do is to check for injuries and call the police. Once the police arrive, they will document the accident and file a report. You should also exchange information with the other driver, including names, contact information, and insurance details. It is also advisable to take photos of the accident scene and the damage to both vehicles.
The next step is to contact your insurance company and file a claim. You need to provide them with the police report, photos, and other relevant information. Once you file a claim, your insurance company will assign a claims adjuster to your case. The adjuster will contact you to gather more information about the accident, including the damages to your vehicle, any injuries sustained, and any other details that might be useful for the claim.
The adjuster will also determine the coverage provided by your policy and explain the claims process to you. They will work with you to settle the claim as quickly as possible. This may include arranging for repairs to your vehicle or arranging for a rental car if needed.
Payouts
The payout amount for an auto insurance claim depends on several factors, including the coverage provided by your policy, the extent of the damages, and who was at fault for the accident. If you’re at fault for the accident, your insurance company will pay for the damages to the other driver’s vehicle and any injuries sustained by the other driver or passengers.
If the other driver is at fault for the accident, their insurance company will pay for the damages to your vehicle and any injuries sustained by you or your passengers. If the other driver doesn’t have insurance or doesn’t have enough coverage to pay for the damages, your insurance company may pay for the damages through your uninsured or underinsured motorist coverage.
The payout for an auto insurance claim can differ widely depending on the circumstances of the accident. According to a study by the Insurance Information Institute, the average cost of a bodily injury liability claim was $17,024 in 2019. The average cost of a property damage liability claim was $4,525.
Turn-Around Time
The turn-around time for an auto insurance claim can vary depending on several factors, including the complexity of the claim, the extent of the damages, and the availability of repair shops and parts. However, most claims are settled within a few weeks.
According to a study by J.D. Power, the average turn-around time for a comprehensive claim was 14.9 days in 2020. The average turn-around time for a collision claim was 13.8 days. However, the turn-around time can be longer if there are delays in getting repair estimates, parts, or if there are disputes over the claim.
Tips for Filing an Auto Insurance Claim
Filing an auto insurance claim can be stressful, but there are things you can do to make the process easier. Here are some tips for filing an auto insurance claim:
File the claim as soon as possible.
The sooner you file the claim, the sooner the process can begin.
Give as much information as possible.
Provide the insurance company with as much information as possible, including the police report, photos of the accident scene, and any other important information.
Be honest.