Reporting auto accidents

From: lance
Date: 18 Aug 2001
Time: 16:58:47
Remote Name: 12.68.64.110

Comments

Report Accidents and Insurance Claims With Lightning Speed When an accident occurs and its time to report an insurance claim, the speed at which to submit the claim should rival Road Runners swiftness when escaping from Coyotes shenanigans. We have seen many of our franchisees report the accidents days and weeks later when they decided it was time to fix the work truck. This is a bad move, here is why. Time is a powerful influence on an insurance companys ability to minimize accident-related costs, control a business liability and, more importantly, to promptly pay claims to receive quality service, the insured must report occurrences accurately and swiftly. The claims process is triggered when an accident or loss report is given to its claim administrator. If an incident is not reported quickly, a lot can happen in the happen in the time between when the mishap occurred and the start of the claims process All accidents should be reported immediately, no matter how minimal the claim. Many claims adjusters will feel that you are adding additional non-accident related repairs to the claim if you do not call it in quickly, this raises red flags, even if you are of the utmost integrity in the matter. Giving immediate notice to your insurance company allows an adjuster to investigate and preserve facts, and examine physical evidence. This also provides an opportunity to identify witnesses and secure statements. Early reporting controls damage because there are advanced opportunities to mitigate losses, which reduces the risk of inflated costs and unnecessary litigation. They may also be able to head off a injury claim afterthought from the other party who three weeks later decides on advise of their friends to sue you and your driver, the company and all your personal assets. This has happened recently to one of our franhcisees. Also, its important to understand contractual provisions when reporting claims For example, first-party insurance policies require immediate written notice of a companys loss. The term immediate has been interpreted by many courts as giving notice as soon as possible, depending on the circumstances. Many assume this is the net business day. Most liability and automobile liability policies require claim notice be given as soon as practicable, which carries equal significance as first-party language policies. Delayed reporting could lead to future insurance coverage denial. We have seen this happen more than once to members of our team. Quick and accurate claim reporting particularly is important when dealing with vehicular accidents, which typically are the most common company losses in the cleaning business. As an employer, be sure to communicate to employees about what information needs to be gathered if they are involved in an accident while on the clock. You should also have a camera in the glove box at all times for pictures and also a note pad and pen and tape recorder to describe accident. For example, parties involved in accidents should exchange names, addresses, license numbers and operator license numbers, as well as obtain a full description of the vehicles involved and gather witnesses names. All of this information needs to be passed on to the companys insurance agents or brokers. This is necessary to ensure legal rights later in the claims process Even if a driver leaves an accident feeling confident that no liability could arise, within hours, an insured could be served legal papers. Consequently, our franchisees and their other businesses should cooperate immediately and completely with their insurance company, just in case the insurer needs to prepare a defense on the companys behalf. Lastly, as an employer, be sure that any notices or legal documents brought to your attention are given to the insurance agent, broker or carrier.

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