FAQ’s - Auto Insurance Coverage
Police - Laws may vary from state to state as to
whether a police report must be filled out. It is important that you learn
the laws in your own state. Generally, if a personal injury occurs, then a
police report must be filed. A police report is also most often required
when property damage exceeds a certain dollar amount (often $200 to $500).
To be safe, at least a telephone call to local police should be made at the
time of the accident or shortly after, to find out what kind of information
you are required to provide.
Department of Motor Vehicles (DMV)
Some states require that the DMV be notified of an auto accident. This, of
course, can vary from state to state so you should learn your local
regulations. Generally, this report must be filed within 5 to 10 days of the
accident. If you fail to report it, you may risk suspension of your license.
If you or someone was injured, it may be a good idea to talk with an
attorney before filling out this report.
3) If someone else is driving my car, are they covered under my
insurance?
There may be some exceptions however, in general, your auto insurance stays
with your car no matter who is driving. In order to be covered, they must
have your permission to drive the vehicle. Your Auto Policy should list all
drivers who live in your home.
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The purpose of Auto Insurance, is to pay for the repair or replacement of your car when it has been damaged by an accident or from other causes such as theft or storms. If you don’t have an insurance policy on your car, it may be difficult for you to replace or repair your car, the expense can be immense. Also important, is the liability coverage you get should you injure another person or damage another person’s property with your vehicle. The potential amount for which you could be held responsible for is much greater than the value of your vehicle. Damages could amount to hundreds of thousands of dollars or more! Your Auto Liability Insurance pays for that damage up to the dollar amount of liability coverage that you have. Your personal assets are at risk if you do not own Auto Liability Insurance. You could also face the risk of losing your license.
Remember, although NH does not require insurance to register your car, the state does require you to be “financially responsible.” In short, if you can’t pay for the damage or injury you have caused on the spot, you definitely need insurance.
2) Who do I contact after an auto accident?
If you have an accident, you should know who needs to know about it and what forms you will need to fill out. There are three main organizations that may need to be notified in the event of an accident.
Insurance Company - When you are involved in an accident, most insurance policies state that you must notify your insurance company about the incident. If you do not notify them in a timely fashion, the insurance company may deny you coverage for that accident. They will want all information regarding the accident and in some cases you may be asked to record that statement. Failure to comply could result in loss of coverage of the accident.
