Which Vehicle Expenses You Don’t Have to Pay
After an auto crash most people want all the car accident info on how much money they will have to spend. Filing an auto insurance claims can help you avoid paying several costly vehicle related expenses.
When you file your car accident claim you should be reimbursed for:
Car Repair Costs
You have a right to get your car repaired to its original state. The insurance company will cover your cost to get an estimate, new replacement factory parts and cost of labor.
Car Rental Expenses
The insurance company will pay your daily car rental charge. This is covered from the first day your vehicle is not drivable to when your car is repaired. If you file a claim under your own collision coverage, the maximum amount your insurance company will pay you is listed in your insurance declarations page. For example, my state farm insurance lists:
Each Day Each Loss
This means they will pay me $20 every day for car rental expenses until I reach $400. Daily rental charges include the daily rental rate, mileage charges and any taxes.
The insurance company is also responsible to pay for other travel related expenses. This includes taking taxis or using public transportations such as buses and subways. The most my insurance will pay under my comprehensive coverage is $25 per day until I reach $750.
Towing the vehicle
If your vehicle is not drivable after the auto crash, the insurance company will pay to have it towed to a reasonable distance from your accident. You can have your car towed to your house or any local repair shop. If your car has to be stored in a garage, that expense is also covered by the insurance company.
Damages to Personal Property
Another good piece of car accident info is that you are also entitled to be reimbursed for any of your property that was damaged in the car due to the accident. This includes your laptops, ipods, watches, or glasses.
What if your car is totaled?
The insurance company will pay for your damages up to the Actual Cash Value (ACV) of the vehicle. The ACV is the current market value of your vehicle. If the damages to your vehicle are more than the ACV, the insurance company will pay you the ACV
Example: You are in a car accident and your car damages come out to be $5,000. Your car’s ACV is $4,000. Since the repairs are more than the ACV, your car is considered a total loss, and the insurance company will pay you only $4,000.
How is the Payment Delivered?
If you file under your own collision coverage, you have two payment options. The insurance company can make payments directly to you or pay the companies that provided the repairs and towing services. You decide which payment option works for you.
If you file against another driver’s insurance, called a third party claim, then you will be paid a check at the end of your car accident settlements. However, before your claim is settled you will have to pay out of your own pocket.
Having car accident info about which expense you don’t have to pay for can really be a stress reliever. Most of your vehicle related expenses should be paid through your car accident claims. Make sure you document all your expenses and have receipts to show to the insurance company. This way you can be reimbursed properly.
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