Life Event: Automobile Accident

Cars. As a society we are dependant on them not only for work and transportation but also recreation. We learn to drive and can be licensed a full two years before we can vote. Many families own multiple cars, sometimes even one per licensed driver. Everywhere we go we see them, use them, and yet many of us don't know what to do when something goes horribly wrong and we or our loved ones are involved in an accident. The good news is there are answers to your questions, just take a deep breath and read on.

Who Was Driving?

• If you were the one behind the wheel, understand your responsibilities.
• If your teenager was the one behind the wheel, make sure you understand your potential liability for your teenager's accident.

Where Did the Accident Happen?

• Understand the issues involved it the accident happened in a parking lot on private property.
• Accidents that occur on public roadways generally result in the filing of a police report. Make sure you understand what was in that police report and how it will be used.

Who Else Was Involved?

• If the driver of the other car was drunk, the bar where he was drinking may be liable to you under a "Dram Shop" law.
• Was a government employee or agency in any way involved in the accident? If so, here's what you should know about government liability.
• Were you driving someone else's car or did you loan your car?

Let's Talk Insurance

You need to understand your insurance policy. If you haven't already become familiar with it, now is the perfect time. Regardless of what happened the accident affected you or your family member and car and you're going to need to understand how insurance works in order to make sure everything is set right. Here are some of the things you'll want to know:

• General information on automobile insurance.
• Know what type of uninsured motorists coverage you have.
• Know what your insurance policy covers in terms of underinsured motorists.
• Understand state insurance requirements for issuance of licenses.
• Determine whether you have no fault insurance.
• Know what your deductible is.
• If your insurance has lapsed, determine if your company allows you a window of opportunity to reinstate it after an accident.
• Know whether or not you have a gap insurance policy.
• Understand how the insurance company will determine the value or the diminished value of your car.
• Understand repair estimates for your car and how they impact the process.
• Understand liability.
• Determine which insurance company is responsible if you were driving a rental car.
• If the same insurance company insured both (or more than one) of the vehicles involved, know what that means for your claim and the process.
• Know your rights and if your insurance company is dealing with you in bad faith, know your legal options and seek an attorney's advise if need be.
• Know the law regarding whether insurance proceeds must be used to repair the vehicle.
• Get answers to other Auto Accident FAQs.

Were You or a Family Member Injured?

• Understand your rights in relation to personal injury.
• Know what you can recover for.
• Know how long you have to bring a claim for injuries resulting from the auto accident.

What Else Should You Do?

• If your car was defective, you may have a product liability claim that you could make.
• Get information on whether your insurance company is responsible for correcting substandard repairs.
• Determine whether or not your losses are tax deductible.