If you’re involved in a car accident, there’s always a chance that the other party involved could have the same insurance company as you. This is particularly common in areas where one insurance company is the most accessible. Once you find out that the other party has the same insurance provider, you might be wondering exactly how things are going to work. Here’s what happens when the other party in an accident has the same insurance as you.
In most cases, the process of filing a claim won’t be much different than if you and the other party had different insurance companies. Since the insurance company is supposed to be impartial, they will assign you each different case workers to evaluate the accident from your perspective. You each will have your own claims adjuster who will work with you and assess whether or not you were at fault. The two will then meet, compare notes, and work together to make an accurate decision regarding who was at fault in the accident. Insurance companies are always supposed to remain impartial in this matter and treat both parties fairly to determine the cause of the accident. However, if you feel that your insurance party is not remaining impartial, it’s important to express your concerns.
The biggest difference in the way these types of accidents are processed is the deductible. Typically, even if you were determined not to be at fault in an accident, you would still have to pay a deductible for any necessary repairs. However, this changes if you and the other party share the same insurance company. If you aren’t at fault, they will typically use the other party’s policy to pay the deductible costs, so you won’t owe anything.
A common myth is that if you and the other party involved in the accident have the same insurance company, your claim will be processed faster. However, this is not the case, and in some instances, it can actually take longer to process the claims. This is because the two adjusters representing you and the other party will act as if they are from separate insurance companies to minimize bias. Expect your case to be handled on a normal timeline.
What to Do When Filing A Claim
When filing a claim after the accident, the first thing you need to do is document the accident as thoroughly as possible. This means you need to write down everything that happened and take extensive photos of the damage. If there were any witnesses nearby, ask if they would be willing to testify on your behalf, and get their contact information. It can be difficult to do this after an accident, but it will help you tremendously in the long run.
Once you get home after the accident, start keeping a file with all the information you have about it, so that you can easily access it when you need it. You should also make sure you get a copy of the police report for the insurance company. Another important step is to take your car to an independent repairs specialist to assess the cost of the damage. This is important even if the insurance company has their own person to assess the damage, just to get an impartial picture of the cost of the repairs.
If you are having any issues with the claim once you file it, don’t be afraid to speak up. For example, there are some instances when the insurance company takes a long time to process the claim or fails to communicate effectively. If this happens to you, don’t stress out – it doesn’t necessarily mean they will find you at fault for the accident. Just reach out to your insurance company for an update on the case, and don’t be afraid to be persistent.
If you are found at fault for the accident, you will receive coverage for the accident within the specifications of your policy. You will have to pay a deductible, and you can expect that your monthly insurance payments will go up for the next few years. If you have accident forgiveness, your rates may not go up, or will only go up slightly. If you qualify for accident forgiveness, it’s worth adding to your policy, as it can save you money in situations like this. There are some things you can do to get your premiums back down. These include taking a driver’s safety course, adjusting your deductible, and shopping around for new insurance.
If you and the other party in an accident have the same insurance company, the process of filing a claim shouldn’t be much different than normal. In some cases, you may not have to pay a deductible, but otherwise, things will generally stay the same.