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What If You Don’t Report an Accident to Your Insurance Company?

After a minor accident, you might hesitate to call your insurance company. No one wants their car insurance premium to go up. Often, if the damages are minor, you might think it doesn’t make sense to report the accident. If there were no injuries and you think you can pay for the vehicle damages for less than the cost of the deductible and avoid a premium increase, why should you call the insurance company? While this might make sense, there are some factors to consider before you commit to not reporting the accident.

Violating Your Contract.

Many people don’t know this, but some car insurance policies state you must report all accidents to the insurance company. Somewhere in the fine print, it could state that failure to do so could violate your right to coverage. For instance, you get into a fender bender with another person. You both agree to sidestep the insurance companies and come to an agreement. Then a few days later the other person has a change of heart. They discover they have suffered from an injury as the result of the fender bender and have filed a personal injury suit against you. If this is the case, the insurance company could refuse to defend the suit on your behalf. They use the fact that you failed to meet your contractual obligations as a basis to not represent you. This will place you in a difficult situation where you could be personally exposed to liability for the other driver’s damages.

It Might Not Actually Save You Money

Many insurance plans have accident forgiveness. If it is your first accident, you might not have to worry about increased premiums. It’s a good idea to explore these options with your insurance agent when obtaining or renewing your policy. Your accident could end up being more expensive than you thought, and the money paid out to you would be worth paying the higher premium. If you don’t have to worry about violating your contract, simply doing the math can save you some money in the long run.

In a Serious Car Crash? Contact The Law Giant for Help

Any car crash can leave you feeling overwhelmed and unsure of what to do next. After receiving medical attention, contact The Law Giant, Personal Injury & Accident Lawyers right away. We can handle the legalities of your case while you focus on recovering. With our skilled legal representation by your side, you may be able to secure full and fair compensation for your damages. Contact us at (866) 523-4167 to schedule a free case evaluation at our Brownsville, McAllen, or San Antonio offices.

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