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Knowing how insurance works after a car wreck can be helpful

On Behalf of | May 26, 2022 | Motor Vehicle Accidents

If you’re involved in an automobile accident in Alaska, you will deal with an insurance company after filing your claim. Understanding how this process works can make getting compensated easier and quicker.

Knowing how to handle insurance offers can be critical

When the insurance company comes back with a claim that’s based on the severity of your auto accident, the offer may be categorized as one of the following:

• A total loss – If your vehicle is severely damaged, the cost of repairs may exceed its value. In this situation, the insurance company will consider it a total loss.
• Lower than expected – When you expect a higher offer from your insurance company to cover damage, it may be a disappointment to receive a lower value. Receiving multiple estimates from other mechanics and providing this info to your insurance company may help them reconsider the amount.
• Using a betterment clause – In this situation, you may have to pay a fee. It occurs if the repairs to your vehicle make it worth more than its previous condition before the accident.

If you expect a higher amount than the insurance company has suggested, it may be worthwhile to review their offer for accuracy. Receiving compensation for medical bills, lost wages and pain and suffering is essential and should be factored into the figure you receive.

Accepting a settlement from the insurance company

At some point, you will need to accept a settlement in writing from your insurance company. However, if you aren’t happy with the quote they provide, it’s important to ask questions so that they can explain their reasons for the amount. Negotiating with your insurance company may be needed if you feel like you deserve more.

Understanding how to handle insurance claims when you’ve been in an auto accident can be critical. Injuries from your car wreck may last a lifetime. Receiving the appropriate compensation is essential to living comfortably.