Even the most cautious drivers sometimes encounter accidents. In order to prepare for the unexpected, New Jersey law makes it mandatory for everyone to carry auto insurance.
If your car is ever damaged or stolen in New Jersey, auto insurance claims should be filed immediately. This will help you recover the cost of damages or loss of your vehicle, preventing you from financial strain. In order to ensure that your claim is processed successfully though, taking some basic steps can go a long way.
Should you encounter an accident, the first thing to do is to get a count of any injuries suffered by you or passengers in either car. If there is a need to call for medical assistance, do so immediately. Some cases require you to inform law enforcement agencies about the accident as well, so getting them onto the scene may also help sort out the matter.
Begin by sharing contact details and insurance policy numbers with the other driver. Based on your insurance policies, you can decide which of the two New Jersey auto insurance claims you will be filing. Filing a claim with your own insurance company means that you will receive compensation for any damages to your vehicle. If the cost of damages exceeds the value of the car, the insurance company will pay you the latter amount. This kind of insurance claim is known as the first party insurance claim.
If you choose to file a claim with the other person’s insurance company, it is called a third party claim. Unlike your own company though, the third party insurance company will only cover the cost of your damages to the limit that their insured has opted for. There is a chance that the amount may not be able to cover your cost of repairs.
Once you have decided which type of claim you will be filing, start by recording all the details of the accident in as much detail as possible. Note the injuries, the damages, and any other information you think is relevant. The data will be used to help the insurance company determine the amount of compensation and who is to be held responsible for an accident.