Accidents happen every day. They happen regularly both on the highway and on the regular streets across the nation. Some of these accidents lead to injuries or property damage. Some even lead to death.
Sometimes the driver who caused the accident flees from the scene, never seen again. If you have been recently involved in an accident, but the other driver leaves, does that mean you are left to foot the bill?
This is where hit and run insurance comes in handy. Read below for a breakdown of hit-and-run insurance as well as a guide for when you need it.
The Definition
If you have hit-and-run insurance, then your insurance company will cover the damages to your vehicle, up to your policy limit. It can give you peace of mind if you are the victim of a hit-and-run.
There are two types of hit and run insurance-owned and liability. Insurance-owned hit-and-run pay for damages done to your vehicle by an uninsured driver.
The Benefits
If you are at fault in a hit and run accident, hit-and-run insurance will cover the costs of repairs to your vehicle. If the other driver is identified, their insurance will cover the costs.
If the other driver is not identified, your insurance will cover the costs up to your policy limit. It is important because it protects you from having to pay out-of-pocket for repairs or medical bills.
The Exclusions
Most insurance companies exclude this from their coverage. This is because these accidents are considered to be fraudulent claims. Insurance companies believe that hit-and-run accidents are often staged by policyholders to collect money from them.
The Coverage
If you are involved in a hit-and-run accident, having hit and run coverage can help pay for repairs to your vehicle and, in some cases, for medical expenses. This type of insurance is usually an add-on to your existing auto insurance policy and typically covers damage caused by an uninsured or uninsured motorist in California who hits your car and then leaves the scene.
The Claims Process
If you are the victim of a hit and run, the first thing you should do is call the police and make a report. Once you have a police report, you should then contact your insurance company and begin the claims process.
The insurance company will likely ask for a copy of the police report, as well as any other evidence you may have, such as eyewitness accounts or surveillance footage.
A Guide to Know More About Hit and Run Insurance
If you or a loved one has been the victim of a hit and run, it is important to know that you have options when it comes to insurance. Most drivers are aware that they need insurance, but hit and run insurance is often overlooked.
Reading this guide can help protect you financially if you’re the victim of a hit-and-run driver. If you don’t already have hit-and-run insurance, be sure to ask your insurer about this coverage option.
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