Archive for the ‘insurance’ Tag

What to do after you have been in an accident

1. Keep an Emergency Kit in Your Glove Compartment. Drivers should carry a cell phone, as well as pen and paper for taking notes, a disposable camera to take photos of the vehicles at the scene, and a card with information about medical allergies or conditions that may require special attention if there are serious injuries. Also, keep a list of contact numbers for law enforcement agencies handy. Drivers can keep this free fill-in-the-blanks accident information form in their glove compartment.

2. Keep Safety First. Drivers involved in minor accidents with no serious injuries should move cars to the side of the road and out of the way of oncoming traffic. Leaving cars parked in the middle of the road or busy intersection can result in additional accidents and injuries. If a car cannot be moved, drivers and passengers should remain in the cars with seatbelts fastened for everyone’s safety until help arrives. Make sure to turn on hazard lights and set out cones, flares or warning triangles if possible.

3. Exchange Information. After the accident, exchange the following information: name, address, phone number, insurance company, policy number, driver license number and license plate number for the driver and the owner of each vehicle. If the driver’s name is different from the name of the insured, establish what the relationship is and take down the name and address for each individual. Also make a written description of each car, including year, make, model and color — and the exact location of the collision and how it happened. Finally, be polite but don’t tell the other drivers or the police that the accident was your fault, even if you think it was.

4. Photograph and Document the Accident. Use your camera to document the damage to all the vehicles. Keep in mind that you want your photos to show the overall context of the accident so that you can make your case to a claims adjuster. If there were witnesses, try to get their contact information; they may be able to help you if the other drivers dispute your version of what happened.

5. File An Accident Report. Although law enforcement officers in many locations may not respond to accidents unless there are injuries, drivers should file a state vehicle accident report, which is available at police stations and often on the Department of Motor Vehicles Web site as a downloadable file. A police report often helps insurance companies speed up the claims process.

6. Know What Your Insurance Covers. The whole insurance process will be easier following your accident if you know the details of your coverage. For example, don’t wait until after an accident to find out that your policy doesn’t automatically cover costs for towing or a replacement rental car. Generally, for only a dollar or two extra each month, you can add coverage for rental car reimbursement, which provides a rental car for little or no money while your car is in the repair shop or if it is stolen. Check your policy for specifics.

The final question in dealing with an accident is usually who will pay for the damages? If the accident was minor, you and the other drivers may decide to handle the damages yourselves without the involvement of an insurance company. But this isn’t always the best idea, for several reasons.

While the other driver may agree to pay for the damage to your car on the day of the accident, he may see the repair bills and decide it’s too high. At this point, time has passed and your insurance company will have more difficulty piecing together the evidence if you file a claim.

Also, keep in mind that you have no way of knowing whether another driver will change his mind and report the accident to his insurance company. He may even claim injuries that weren’t apparent at the scene of the accident. This means that your insurance company may end up paying him a hefty settlement, or worse yet, you could be dragged into a lawsuit. So make sure that your company has your version of what happened and check your policy — if the damages paid out by your insurance company are below a certain amount, the accident may not be considered chargeable. And you will avoid the penalty of a premium hike.

Auto accidents take a tremendous toll on everyone involved, both financially and emotionally. If you’re one of the lucky ones who have thus far avoided a serious accident, hopefully the tips on prevention will help keep it that way. The chances are high, though, that at some point you will be involved in a minor accident. Just keep your head and make safety your primary concern. You’ll have plenty of time to deal with the consequences later.

As read on: http://www.edmunds.com/car-safety/what-to-do-after-a-car-accident.html?articleid=43805

AAA Tips for Picking and Paying for the ‘Right’ New Car

Buying a new vehicle takes time, research and eventually money.  So when the occasion comes to purchase a new car, it’s not a choice that should be made lightly. To help consumers, AAA offers a checklist of factors to consider when looking for the ‘right’ new car.

“Today’s consumers have more choices than ever when it comes to picking a new vehicle, but that also means the selection process can be much more difficult,” said John Nielsen, AAA’s Director of Automotive Engineering and Repair. “There are numerous factors to consider, many of which take place long before a buyer ever hits a car lot.”

When shopping for a new vehicle, AAA recommends the following:

  • Determine What Is Affordable. Before considering any specific makes or models, sit down with the household budget and determine what is affordable before visiting a car lot. AAA’s financial services experts advise that no more than 15 percent to 20 percent of your total monthly budget should go to all car-related expenses. Consider the value of your trade-in and how much cash you want to put towards the vehicle purchase. Consult with an insurance agent to get a rough estimate of premiums on the type of vehicle being considered. AAA insurance agents can be located at AAA.com.
  • Evaluate Driving Habits. Take a realistic look at how the vehicle will be used. What types of trips will it be used for most frequently? How many passengers will the vehicle need to carry? How long of a commute will it need to accommodate? Will the vehicle be driven on the highway? Will you need extra cargo space?
  • List Needed Features (Current and Future). Make a list of all required features the new vehicle should include, being careful to separate ‘wants’ from ‘needs.’ How much seating? How much cargo? Minimum fuel economy? When making the list, think about needs today and those several years down the road. Could children be in the future? Could the commute lengthen?
  • Consider Depreciation Costs. The biggest yearly expense to new cars is depreciation. Research how much the models being considered depreciate within the first few years and consider a model that has a track record of holding its value longer. The new AAA Auto Buying Tools App can assist consumers shopping for a new vehicle by providing all of the information they need to make an educated decision by visiting AAA.com/AutoBuying or by downloading the AAA Auto Buying Tools app from the iTunes App Store. The app can build the car you want, including options and available incentives, while viewing pricing information, crash safety ratings, AAA reviews, images and more.
  • New or New to You. Look at pricing options for both new vehicles, as well as models that are one to two years old. There are benefits to both new and slightly used models. New vehicles typically come with longer warranties, buying incentives from the automaker, the latest features and are widely available. Slightly used vehicles might offer a price break, but it can be more difficult to find the ‘perfect’ vehicle with the exact features a buyer is seeking and does not have buying incentives from the manufacturer.
  • Review Warranty and Maintenance Costs. Review the length of the warranty of vehicles being considered and exactly what it covers. Investigate the maintenance costs associated with the car by reviewing its recommended maintenance schedule and calculating new costs of regularly needed maintenance items. If the buyer consistently uses the same repair shop, ask how the cost of maintaining the new vehicle will compare with the current vehicle.  AAA Approved Auto Repair shops are located across North America and are excellent sources of trusted maintenance information.  The nearest shop can be located by visiting AAA.com/repair.
  • Investigate Safety Ratings and Features. Check the safety ratings of all models under consideration from National Highway Traffic Safety Administration (NHTSA) and Insurance Institute for Highway Safety (IIHS). Evaluate the safety features available on each model. If using a car seat for a child, check the accessibility to the vehicle’s LATCH system and the ease of installing a child passenger safety seat.
  • Seek Recommendations and Reviews. Ask friends, family and colleagues for feedback on their vehicles. Read professional reviews provided by AAA’s Auto Buying experts at AAA.com/AutoBuying, and feedback from current owners of the models being considered. These can often be found on web forums.
  • Don’t Limit Choice to One Vehicle. Narrow the choices to two or three vehicles that meet all the criteria, but do not narrow it down to only one. By allowing flexibility, buyers have more negotiating room and a better chance of finding the best possible price.
  • Financing is Key. AAA financial services experts advise that consumers gain a distinct advantage in the car buying process by arriving at the dealership with financing in hand.  Carefully and thoroughly shop loan options and available interest rates in advance. Inching down a loan’s interest rate even a percentage point or two can save hundreds of dollars over the life of the car loan.  Match the length of the loan to the length of ownership.  Select your loan term based on how long you plan to own the vehicle and make sure your loan has no prepayment penalty.

AAA can help consumers save for major purchases like buying a new vehicle.  Building a sound savings strategy is the best way to prepare for the future and different savings options offer different benefits to help you reach your goals.  AAA members can learn more at AAA.com/deposits.

As North America’s largest motoring and leisure travel organization, AAA provides more than 53 million members with travel, insurance, financial and automotive-related services. Since its founding in 1902, the not-for-profit, fully tax-paying AAA has been a leader and advocate for the safety and security of all travelers. AAA clubs can be visited on the Internet at AAA.com.

As read on: http://newsroom.aaa.com/2012/03/aaa-offers-tips-for-picking-and-paying-for-the-right-new-car/?sf17594182=1