If you’ve never been in a car accident, you may be surprised at how quickly the insurance companies spring into action. It’s important to understand, however, that the insurance companies involved have different roles to play and different motivations. Your insurance company is working on your behalf because you pay your premiums and they are under contract. The other driver’s insurance company, on the other hand, represents the interests of the other driver. Even if the other driver has admitted that the accident was his fault, the insurance company then wants to make sure that it pays no more than it absolutely has to in paying your claim.
As a result, the other insurance company is going to want to settle the claim as quickly as possible. That may sound very appealing, but understand that a settlement is going to require you to waive any other claims, whether you are aware of them or not. For example, if you later discover that you have nerve damage as a result of the accident, you won’t be able to bring a claim against them if you’ve already entered a settlement agreement. For these reasons and others we’ll get into below, it’s very important to understand how to talk to the other driver’s insurance company.
First Things First……..