Lets say you were involved in a fender bender accident where nobody was injured. The rear end of your vehicle collided into another vehicle leaving the vehicles with a small scrape or dent, is it really advisable for you to go to your insurance company or do you think it would a wiser idea for you to reach a settlement with the other driver on your own? Sometimes, you can reach a settlement with another driver without involving your insurance company and that’s why you should learn how to settle car accident privately because it of its importance.
The only time that you should consider settling a car accident privately and without the help of your insurance company is when the accident is a minor one. In some cases, accidents that appear to be minor accidents might also end up looking bigger than it seems because what looks like a scratch on the bumper could end up causing a bigger problem underneath the vehicle. This sort of problem would be discovered only if a mechanic decides to examine the vehicle thoroughly.
How To Settle Car Accident Privately
The most important thing that comes in settling a car accident privately is that both drivers have to be in agreement and if the other driver still insists on making an insurance claim then you should go ahead and talk to your insurance company as well. If it is what the other driver prefers then you should allow him handle it that way but if what you are dealing with is like the case of a broken tail light then you can try convincing the other driver that you making a direct payment to him is more easier and convenient and affordable too.
One thing that you should know is you can still inform your insurance company of what has happened but you still would not go ahead and file a claim. This is what some insurance companies expect of their customers and it is very important as well. If you do not inform your insurance company and the other driver goes ahead to tell his own company then that becomes a bigger problem for you. Keeping records of reports and inquiries is what insurance companies wants and never filing a claim could also affect your insurance premium rates.
How To Settle A Car Accident Without Insurance
There are five steps to take to ensure you are protected if you and the other driver have decided to settle a car accident privately and not involve your insurance companies.
- Exchange Of Contact Information – Personal checks and cash should not be exchanged but what you should get instead is the other persons contact address, name, number, plate number and license number.
- Take A Record Of Damages – Photos of both cars should be taken. All road conditions, signs, angles and signals that might have been a factor in what caused the accident should be taken down as well. Write down notes if you cannot take pictures and detail exactly where each damage is on the car
- Get A Police Report – The requirements of some states is obtaining of police report if there is a damage. In other states, you should get a police report if there is an injury or if the damage is greater than a particular amount of money. You can also obtain a police report even if your state doesn’t recommend it.
- Obtain Quotes For Repair From Not Just One Mechanic – If the damages suffered is yours or that of the other driver, ensure that estimates for repair is gotten from at least two or three mechanics. You might find out that the cost of repair could be expensive that you imagine at first and this could also make both drivers have a rethink whether they want to leave their insurance company out or not
- Keep Records – It is very important that you keep a record with the other driver. It doesn’t matter if it is just a conversation or receipts for something paid for. Make sure that there is a proof of transfer if there is a transfer of money or document and also ensure that all of your conversations are done through mail so a record of what was discussed can be kept.
- Draft A Legal Binding After Settlement – This involves three basic elements in contract law such as offer, acceptance and consideration.
These are the things you should know when it comes to learning how to settle car accident privately. Making a report of the accident within a short period of time is what insurance companies wants but what you should always have in mind is that making a report and filing a claim are two different things.