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How Do Insurance Companies Handle Hit And Run?

How Do Insurance Companies Handle Hit And Run Blog

Finding yourself to be a hit and run victim is always stressful. A hit and run situation can vary from an unpleasant one, like somebody hitting your parked car and leaving the scene, to accidents that involve injuries and death. It’s vital to prepare yourself for these situations since you never know when they might occur. Here is a guide to how the insurance companies handle hit and run.

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What You Should Know About Hit And Run

These are accidents that involve vehicles where the culprit that causes the accident leaves the scene without being identified. It might be that they got scared, or they already have law problems, and they are running from the police. Whatever the reason, victims end up with vehicle damage or worse. It’s vital to act immediately and memorize the car’s license plate number. If it’s possible, write it down right away, so you don’t forget it. Here is what you do when you are a hit and run victim:

  1. File a police report. The law requires doing this in max 24 hours from the accident. Provide the police the license plate number you wrote down (if possible) and other evidence you might have.
  2. Call the insurance provider. It’s vital to consult with a professional to consider the next steps that are best for you and the company. It’s vital to look for potential evidence at the scene. You might ask eyewitnesses to back up your story or look for security footage on nearby properties. It can play an important role in finding the culprit but also help if they try to turn the story and claim you are to blame for the accident.

What To Do If You Have The Vehicle Registration Number?

That simplifies things, especially if you want to involve the police. If there are significant damages or injuries, the experts advise filing a police report immediately. Some cases even require you to call the police and wait for them at the scene. Now, you have several options if a hit and run occurs:

  • Pay for the damage – it might be a smart decision with minor damage cases. When it comes to insurance companies, don’t forget to consider the no-claim discount. It ensures a lower price when renewing your policy. If you estimate that the No Claim Discount (NCD) is higher than the potential damage, it might be smart to pay yourself.
  • File a claim against the insurance provider – the next option is to file an insurance claim. That means the insurance company will pay for the damage (as long as you are the victim). However, you won’t be eligible for a no-claim discount next time you renew the contract.
  • Ask the other party to compensate – it’s more of a request than a plea because you file a police report and an insurance claim. However, you request the other party to pay for the damage. It allows you to keep your no-claim discount and not pay for your own damages.

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However, this is only an option if you have the culprit’s license plate number. If they don’t have valid insurance, you might request them to pay for the damage themselves. However, these processes often end up lasting for months. If you don’t have the registration number, you might look for properties with cameras that are close to the accident scene. Ask the owners for the video as it can help identify the potential culprit. The police will conduct the investigation themselves, but it’s a question of how successful it will be. It helps if you have an own damage claim within your insurance policy. That allows you to file a claim, but please note you can’t use the No Claim Discount (NCD) anymore.

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