THURSDAY, AUGUST 10, 2023
After a serious accident, all that you may be able to do is to wonder what happened and how you are going to overcome whatever you've lost including your car. Often times, accidents occur at no fault of the driver. A deer can damage nearly the entire vehicle. You may hit another car because of poor road conditions. No matter what happened, if you have the right type and amount of auto insurance, you may have the protection you need to recoup your losses. The question is, what type of coverage do you have?
Will the Auto Insurer Repair or Replace Your Car?
Generally speaking, the goal of the car insurance policy is to help you to overcome the financial loss you've suffered as a result of your covered incident. However, there are various steps that could occur based on the terms of your auto insurance policy. If you've been in a serious accident in which a good amount of damage has occurred, the first step will be for your auto insurance agency to determine just how much damage is present.
Is it Possible to Repair the Damage?
If it is possible to repair the damage and the cost of repairing the damage is less than the cost of replacing the car, your car insurance company is likely to make the repairs. Of course, they will want to make sure your car is safe for you to drive, but in most situations, they also want to minimize the costs paid out.
If it is not possible to make repairs on the policy, the next step is to consider the terms in your contract. If you have a replacement auto insurance policy, this means the company will replace your vehicle with the same or a similar vehicle. If you have a policy that pays at the current value of the car, on the other hand, the auto insurer will pay you the amount of value your vehicle was worth at the time of the accident.
Having the right type of auto insurance is always important. It is a good idea to have a policy with a high level of coverage to cover incidents like this, which often times cannot be predicted or avoided.
Do you know which type of coverage you have? Call McCallum Agency at (440)-899-2700 for more information on Westlake auto insurance.
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