Car crashes mean many things, but one thing it always means is dealing with insurance companies. Depending on the circumstances of the accident and the type of insurance coverage you have, you may file either a first-party claim or a third-party claim.
First-party claim
First-party claims are with your insurance company. This is usually the case when you have collision coverage or comprehensive coverage on your policy. Collision, as the name suggests, pays for collision damages. This is any damage from a collision with anything. On the other hand, comprehensive is for other types of events. This includes external events, like natural disasters, theft, fire, etc.
Third-party claim
A third-party claim is a claim that you file with the insurance company of the other driver or party involved in the accident. This is usually the case when the other driver or party was at fault for the car accident, and you have liability coverage on your policy. Liability coverage pays for the bodily injury and property damage that you cause to others in an accident. In Nevada, the minimum liability coverage required by law is $25,000 per person and $50,000 per accident for bodily injury and $20,000 for property damage.
Process of filing
The process of filing a first-party claim or a third-party claim may differ, depending on the insurance company and the details of the accident. However, some general steps that you should follow are to report the accident to the police and obtain a copy of the police report. Contact your insurance company as soon as possible and provide them with the information about the accident and your policy number.
Cooperate with your insurance adjuster and provide them with any evidence or documentation that they request, such as photos of the damage, medical records, receipts, etc. Review the settlement offer from your insurance company and negotiate if you are not satisfied with it. However, remember, your insurance company is not the final decision maker, and if they are acting in bad faith, you have options.
