One type of insurance coverage is collision coverage. If your vehicle is damaged or destroyed while it is in operation this insurance will pay for repairs. Your collision coverage will generally only be applicable in two situations.
First, collision coverage is applicable when you are at fault for an accident and your vehicle is destroyed or damaged. This type of situation is the one that occurs most often.
When you file a claim with your insurance company you will need to pay your deductible. You can find information about your deductible in your insurance policy. People often chose higher deductibles because policy rates decrease as deductibles increase.
Once you pay the deductible your insurance company should pay for the remainder of the damage to your vehicle.
Another situation where collision coverage can be applicable is when fault is contested after a car accident.
In this situation, the policy will cover damages that your car sustained as long as your pay your deductible. Then the insurance company will seek reimbursement from the other party that was involved in the accident. In the event that the other party is found to be liable the insurance company will recover the money that it paid to repair your car, and you will receive your deductible back.
It is important to know how insurance policies can affect you if you have been in an accident. This video addresses collision insurance. We have other videos which will guide you through how other types of insurance may impact your car accident case.
If you have any questions about how collision coverage will impact your car accident case you should contact an experienced personal injury attorney.
The lawyers at Hutchison & Stoy are happy to answer any questions you may have about your personal injury case.
We offer free case evaluations to individuals who are trying to determine what their legal rights are. Contact us today!