Accidents happen. Whether your car sustains damage from vandalism, theft or a collision, filing a claim with your insurance company should be one of the first things you do. Insurance can help protect you, but only if the incident is properly documented; therefore, it’s in your best interest to file accident claims.
Many insurance companies have streamlined the claims process so that all it takes is a phone call to your insurance agent and the completion of some forms. Here is a more detailed overview of how to file an insurance claim.
1. Call the police. If there are serious injuries, call 911. Otherwise, dial the non-emergency number to summon the police to the scene of the damage or accident. The official police report will be critical documentation to have when filing your claim.
2. Exchange information with the other driver(s). You’ll need the contact information, license plate numbers and auto insurance information of the other drivers. If accident claims are filed, it’s important to make sure all parties are accurately represented. If the other driver doesn’t have insurance, you should still collect his or her contact information.
3. Document the details. Take photos of any damage and gather the contact information of witnesses to the accident. While a police report is the most objective record of the event, you’ll want to have as much evidence as possible just in case the other driver’s story changes.
4. Contact your insurance company. As soon as you’ve handled the situation at the scene, call your insurance company and report the incident, even if you are not at fault. The sooner you contact them, the better. The insurance company can then start its investigation into the incident and will be prepared if they receive a claim from the other party’s insurer. If the other party was at fault, your agent will explain how to file an insurance claim with the other party’s carrier.
5. Write down the details of the event. Whether you’re at fault or not, the other insurance carrier may contact you for your version of the event. It’s a good idea to write this down so you can be sure you don’t leave anything out.
6. File all forms and documentation on time. Because every incident is different, your insurance agent is best equipped to walk you through the claims process. Be sure to complete all necessary documentation according to the deadlines he or she provides. This will help to expedite the process.
Several insurance companies now offer web-based solutions and mobile applications to complete the car insurance claim process in the event of an accident. One great option for iPhone™ and iPod touch® owners: the Nationwide Mobile App. From calling the police to starting the claims process, this app guides you through each step, ensuring that you file your auto insurance claim properly.
Ultimately, your insurance company will issue you a check to cover the cost of repairs. In the event that your car was totaled, meaning the cost of repairs is higher than the value of the car, you may receive compensation equal to the value of the car so you can replace it.
Filing auto insurance claims may seem intimidating, but your insurance company should have the people and processes in place to make it easier. You never know when you may need to file a claim, so be sure that your current auto insurance coverage has you protected in the event of a car accident, vandalism or theft!
Tags: 2c, 911, 99s, Accident Claims, Auto Accidents, Auto Insurance, Best Interest, Critical Documentation, Emergency Number, How To File An Insurance Claim, Insurance Agent, Insurance Claims, Insurance Companies, Insurance Company, Insurer, License Plate Numbers, Objective Record, Phone Call, Police Report, Story Changes, VandalismRelated posts
Car Buying Tips: Five Things You Need To Know To Avoid Hidden Fees And Additional Costs
Before purchasing your next car, you’re going to want to check for hidden costs, add-on fees, and other charges. You could end up spending hundreds, even thousands, of dollars over the lifetime of your loan.
Once you’ve found the car you want, it’s time to sit down with your sales rep to negotiate the terms of your contract. After a little back and forth on price, figuring out your interest rate, and calculating your monthly payment, you’re ready to sign on the dotted line, right?
Not so fast.
When you read the fine print you may find that additional fees and charges have found their way into your contract including add-ons you didn’t necessarily ask for.
Most car buyers are so focused on getting the best interest rate and negotiating the most affordable monthly payment that they’re unconcerned with the fine print of the contract. By the time they get to the step where they review and sign the paperwork, if the sales rep is throwing industry terms at them that they don’t fully understand, they’re becoming exhausted from the entire process and just want to get it over with.
Here are a few insider tips to make sure you don’t regret signing those papers.
1.) Read the Fine Print
While this seems pretty obvious and self-explanatory, it’s amazing how trusting the consumer can be. Honestly, the last time you bought a car, did you read and fully understand the contract before you signed it? Probably not. Most people don’t.
Some unscrupulous car dealerships are betting on that. Because most people don’t read the fine print, some sales reps can slide in additional, undisclosed charges or extras with huge mark-ups to their profit.
Also, make sure there are no blank spaces on your finance contract that can be filled in later wherever there are blank spaces, write in “$0″ or “N/A.”
2.) Typical Extras
Most of us are familiar with learning about the standard features of an automobile and then figuring out which additional features we are willing to pay extra for, but here are some extras to look out for when reviewing your contract:
Rust proofing
Extended warranty
Fabric protector
Car alarm (including Lojack, a device police use to find your car if you report it stolen)
Paint sealant
Credit life insurance
GAP
Window etching
The value of such extras depends on individual customer needs and situations. If the sales rep attempts to tell you that some or all of these extras are standard for every vehicle on the lot, ask to order your car from the factory, or suggest the dealership trade with another dealer that hasn’t pre-packaged their vehicles.
Extra products can add thousands to the negotiated price of the vehicle. Most products fill a customer need that when priced and disclosed correctly and can add real value to the whole transaction.
The problems with extras occur in two areas. First, when the sales rep doesn’t spend the time necessary to determine which products fit the specific needs of the customer. Rather than suggest specific extras individually priced, the sales rep lumps all the products together and pushes you to buy them as a package.
Second, unscrupulous sales reps can add thousands of dollars to the amount financed for these products, but not disclose the price increase until the last possible moment, when the financing contracts are being signed.
3.) Documentation and Administration Fees
Federal, state, and local governments are pushing more and more of their regulatory cost onto the local dealerships. In an effort to offset some of these fees and services dealers are required to perform, most add, a documentation or administration fee to the total cost of the transaction. Depending on state and local regulations, fee adding $100 to $150 seem reasonable and cover most of these additional items. These services include:
Duplicate Title Fees
Notice of Security Interest (to perfect lien)
30-day Permits
Federal terrorist matching data bases
Federal information privacy requirements
State vehicle id verification
Highway Patrol Inspections for out-of-state titles
Registering leases at customer’s county of residence
Carfax
FedEx charges/Shipping charges
Additional title addendums
Truth in lending record retention
Some dealers have taken up the practice of marking up documentation and administrative fees and are now charging as high as $300 to $500 per sale. A few are even higher. The charge for most of these fees seems to be more based on getting a customer to pay extra after the customer has finished negotiating, not the average amount it cost to get most deals through various state and federal regulations, as implied.
4.) Ask for a Menu System Disclosure
The best disclosure method I’ve seen in years involved using a menu system. On a separate sheet of paper the rep produces a document that includes:
1.)The negotiated price of the vehicle or trade difference
2.)The additional price of suggested extras (these can be shown as various option packages that may save money when bought in combination and as individually priced options)
3.)New totals initialed by both parties
This procedure makes sure that any suggested extras are properly explained and disclosed. It also allows the customer time to consider each item separate from the longer and potentially confusing finance documents. The final numbers from the menu should get carried over directly to the finance document.
5.) Other Costs
When buying a car, remember that there are other “hidden” costs (or, costs that aren’t usually considered), that go beyond the dealership.
During the lifetime of your vehicle, you’re going to have to pay for registration and tags, taxes, insurance, oil changes and fuel every year, and periodically pay for maintenance and repairs. Older models (cars more than 3-5 years old) may cost less up front, but you will likely need to factor more maintenance and repair costs into your budget than if you bought a newer model. While new models need fewer repairs and maintenance work, you will have to pay more up front.
Your wallet does not have to go through the ringer the next time you decide to visit a new or used car dealer. You can protect yourself from blindly signing into an unfavorable car deal by doing your homework, going to a car dealership with a good reputation, being prepared, asking questions, and double checking behind your sales rep.
Tags: Best Interest, Betting, Blank Spaces, Car Buyers, Car Buying Tips, Car Dealerships, Dotted Line, Finance Contract, Insider Tips, Interest Rate, Last Time, Lifetime, Mark Ups, Paperwork, Purchasing Car, Sales Rep, Sales Reps, Sit, Thousands Of Dollars, UpsRelated posts
Nowadays, hundreds of articles advice people on what to look for before purchasing a new vehicle. But, very few articles advice a prospective car owner on what things he or she should avoid doing.
- Never enter a negotiation zone unprepared
Even if you know nothing about cars -or negotiation for that matter- it is in your best interest to enter the “negotiation arena” well-prepared and “armed.” Collect as much information as possible from a variety of sources and take a mechanical savvy friend along to the dealership of your choice. It is always a good idea to be able to inspect the car at the point of purchase; much better staying a bit longer at the dealership than having to call later only to learn that “this model has always experienced similar mechanical problems and you have not purchased any service-guarantee.” Do not enter the field as an amateur; especially if you are one. Compare cars and prices, decide on the maximum available budget and stay within your price range, secure your finances beforehand and never accept whatever the price-tag says. There is always room for negotiating a better deal, even if that is in a form of a rebate or a 5-year mechanical service!
- Research is not enough for your set of car keys
You can get online, you can ask around, you struggle with the information you will be able easily to retrieve for days. But that in many cases means you are left exhausted, confused and as time passes by, possible in despair. Overwhelming yourself with a plethora of data will not do you any good. Just stop to think things through before you act. No dealer will hold a gun to your head, at least not literally, since they need you more than you need them. It is the law of supply and demand they bow to, as any good salesman, which means that at this point in time you are in control. Enjoy it and never go to a dealership unprepared or simply showing that you are unsure of your final choice. There is enough “drama” in your life at the moment; you certainly not need any additional source of anxiety. Relax, take a couple of deep breaths, keep your car possible choices under the golden number two and enter the dealerships with confidence. Exactly like window shopping. You are not buying -yet- you are just looking! Ask questions, get quotes, request price offers, ask for any extra cost that might not appear on the price-tag and make clear that you are visiting other places before you conclude. You should never give the impression that you desperately need to buy the specific car you have been asking about for the last hour. Dealers are salespeople and can “smell” need and desire, miles away. Give yourself some time to see, test-drive and inspect the car(s). Even if the dealer promises you what it might seem as an incredible deal, leave the car dealership without signing any papers or leaving a down-payment; especially if that is your first day looking. Have courage and patience -attitude here is the key- and you will conquer your goal sooner than expected. That’s the spirit you should have.
Tags: Best Interest, Budget, Car Keys, Car Owner, Despair, Final Choice, Gun To Your Head, Law Of Supply And Demand, Mechanical Problems, Mechanical Service, Negotiation, Plethora, Point In Time, Point Of Purchase, Price Tag, Prospective Car, Savvy Friend, Service Guarantee, Supply And Demand, Time Passes