Getting into a car accident and not going through insurance protocols may seem like a strange thing to do. Of course, it depends on the circumstances. If you accidentally tap someone’s bumper, is it worth going through the insurance company and increasing your insurance costs, or should you settle the claim by yourself? Sometimes, it’s possible to settle a car accident without insurance, but should you do this? Let’s take a look at what you should consider if you plan on settling a claim without the insurance company’s involvement.
When Should You Consider Settling Without Insurance?
Settling a claim without getting the insurance company involved depends on the nature of the accident. The only real consideration in this respect would be if the accident is relatively minor. For example, superficial damage to the bumper may warrant a private settlement. However, while it may appear to be minor, the damage can be more ingrained than you think. It may be necessary to have an examination conducted by a mechanic to truly ascertain if there’s any long-lasting damage. For example, if you experience a rear-end collision, the trunk may have been impacted, which will cause damage to the trunk, resulting in potential issues with the lock or water seepage that may enter the compartment.
However, if you want to deal with the affairs privately, the most important thing to remember is that both parties need to be in agreement. The other driver might be more comfortable making an insurance claim. If this is the case, you need to report it to your insurance company as well. You can report it to your insurance company without filing a claim, but this depends on the insurance company in question. But you have to remember that some insurance companies will keep records of reports and inquiries, and may affect your insurance premium without making a claim.
How Can You Settle Your Claim Without Insurance?
If you are determined to settle the case without insurance, it is important to protect yourself. The best way to settle your claim without insurance is to go through this 6 point process:
Get records of the damage
Photographs are the best way to ensure you get proper evidence of the damage to both vehicles. Take pictures of the damage at every conceivable angle, as well as any road conditions or signs and signals that may very well be a contributing factor to the crash. Taking as much information at this point is crucial. If you are not able to take photographic evidence, you have to make sure that you take as much written evidence as possible. For example, the location of the damage, how it looks on the vehicle, and any additional considerations.
Exchange contact information with the other driver
Make sure that you get the person’s details, such as their name, phone number, address, driving license details, and license plate information. In addition, make sure you note the details of the car. You may want to get the insurance information of the other driver as well just in case. Make sure that you do not exchange any money at the scene.
Get a police report
The Accident Statute in Michigan requires a duty to report accidents as well as a duty to report an accident involving a parked car. You should report a crash when a parked vehicle is damaged and the owner cannot be immediately contacted. You can also purchase a traffic crash report submitted by Michigan law enforcement for a $10.00 fee.
Acquiring quotes from mechanics
With regard to the cost of repairs, you should insist upon two or three estimates from mechanics for the repair costs. When you acquire quotes, the prices may affect your decision to go through the insurance protocols or not.
Keep a record of all correspondence
It is vital to keep a paper trail. This includes receipt or payment of money, as well as documenting conversations. If you are negotiating costs, the best way to do this is via email so you have an electronic record.
Create a legally binding agreement
Work with a professional car accident lawyer to draft a legally binding agreement that covers the three main elements of contract law: offer, acceptance, and consideration, which will help to cover your back.
Should You Handle Your Accident Without Insurance?
As there are many considerations when understanding how to handle an accident; you may worry about your insurance premium increasing if you were at fault, but there is some time to think about it. But you have to remember that if you are trying to save some money on your insurance you may very well get into legal trouble. Insurance can be costly, but so can the legal consequences.