Being involved in a car accident can be stressful and, at times, even overwhelming and physically debilitating. When you’ve been in a car accident, you’ll need to know how you can go about recovering financially. Using a few tips, you can begin saving money while reaching out to determine what type of compensation you may be entitled to at the time.
1. Reach Out to Your Insurance Provider
After you’ve been in a car accident, you’ll want to contact your lawyer (if you have one) and your auto insurance agency directly and as quickly as possible. Reaching out to your insurance provider is a way to quickly share information regarding the accident you’ve been in. You can also submit additional photographic and video evidence you’ve been able to collect at the scene of the accident with your designated insurance representative, if available.
2. File an Accident Claim
You’ll also need to file an official accident claim when you’re working with your insurance provider, regardless of who is at fault for the accident you were just involved in. Keep in mind that the cause and reason for the accident will matter if you’re interested in filing a claim for compensation. In 39 states, there are currently enforced laws against texting while driving. If you’re unsure of where to begin when it’s time to file a claim after an auto accident, you can learn more about your options by turning to an attorney who specializes in personal injury claims and auto accident cases.
3. Budget Your Savings
If you’ve been in a car accident, financial recovery is key to truly resuming life with a sense of normalcy. Budgeting your savings at all times is imperative once you’re responsible for a vehicle, home, and household. With a budget in place, you’ll find it much easier to approach repairs and even replacements as necessary after being involved in an accident.
It’s estimated that approximately 77% of surveyed vehicles are in need of at least some repairs or routine maintenance. Research the type of repairs that are most common with your type of vehicle, especially after you’ve been in an accident, to learn more about the potential costs you might incur. When you know what to expect with your insurance coverage, deductibles, and estimated costs for repairs, it’s much easier to begin setting money aside in a separate savings account to help you better prepare.
4. Find Legal Counsel
It’s important to note that in most cases after a car accident, the statute of limitations is often two years in total, according to NOLO. If you’ve been in a serious or even life-threatening car accident, seeking legal counsel is often best. Hiring an attorney is not only a way to help navigate the legal system if you’re new to it and filing a claim for the first time, but it’s also a way to determine the best course of action to take.
The right legal counsel will walk you through the process of speaking with your insurance agency and even negotiating settlements and compensation packages. They will also work as a mediator if you’re dealing with another party. A lawyer who is well-versed in auto accidents will work to secure as much compensation for you as their client as possible.
Knowing how to navigate the legal and insurance industries after being involved in a car accident is essential for the best outcome in your favor. The more familiar you are with the process of filing a claim and budgeting after an accident, the less likely you are to find yourself struggling to pay your bills as you work to recover. Whether you’re in need of compensation for loss of work or the loss of your vehicle, knowing who to reach out to can go a long way in helping you get your life back to normal.
