How Auto Insurance Policies Are Impacted by Hit and Run Accidents
Operating a vehicle can be dangerous at times because you have to think about multiple variables. Sometimes the road conditions aren’t ideal. Other times, you have to navigate reckless drivers who are also on the road. Accidents can happen at any time.
A hit-and-run accident occurs when the other driver decides to leave the scene without checking to see if someone was injured or exchanging information. If your vehicle suffers damage, your auto insurance coverage should cover the costs of alternative transportation, your medical bills, and the necessary repairs. In the immediate aftermath of an accident, it’s important to see if anyone has been injured. Read over your policy carefully to see what’s covered in a hit-and-run accident. If you are involved in an accident, here’s how to proceed if the other driver leaves the scene.
If you are involved in a hit-and-run accident, there are multiple types of coverage that you can rely on to help with your expenses. Some of the coverages are required, while others are available as add ons. Generally, all of these coverages have policy limits, which means you may have to cover any extra damage that exceeds the limits out of pocket.
Collision coverage assists with the necessary repairs if your vehicle is damaged through impact with another vehicle. Collision coverage will pay for the repairs regardless of who was at fault. If you are the victim of a hit and run accident, you should still be able to make a claim regardless of the other driver’s status.
However, remember that collision coverage includes a deductible. This is the amount you are responsible for paying out of pocket before your insurance takes over. You are obligated to pay your deductible even if you weren’t at fault for the damage. However, you can seek to recover your deductible from the other driver’s insurance if they are identified.
- Medical Payments Coverage
Medical payments coverage will pay for the medical bills if a passenger is in the vehicle with you and they suffer an injury due to the hit and run accident.
- Liability Coverage
Liability coverage does not protect you in a hit-and-run situation. If you are the victim, the at fault driver’s liability coverage should pay for your vehicle’s repairs. However, since they are likely to flee the scene, they won’t help cover your claim. You can’t file a claim using liability coverage.
Things to Consider
You may have to pay a deductible depending on the type of coverage you have. Any claims using Personal Injury Protection will include a deductible. However, this coverage is not available in all states. Also, it’s important to note that filing a hit-and-run claim will go on your insurance record. Multiple claims could impact your auto insurance premium.
Being involved in a hit-and-run accident is frustrating. However, there are multiple types of coverage that you can add to your auto insurance to protect you in that situation. It’s important to be safe and adhere to the law. If you have any questions about your policy, contact our insurance experts here at Massive Insurance & Financial Services, and we will assist you.