Car accidents are not only frightening and inconvenient, but they can also be very costly. Not only do you have the expense of fixing or replacing your car, but you may have medical bills and increased car insurance rates as well. An accident doesn’t have to cost you an arm and a leg, however. Here are five penny pinching tips for dealing with an automobile accident.
1. Get the Proper Auto Insurance Coverage
While getting the bare minimum auto insurance coverage on your vehicle might be cheaper at first, it is probably in your best financial interest to get a little more coverage. Then, if you do get in an accident, you are not stuck paying for your car to be fixed yourself.
2. Shop Around
Unfortunately not all car repair companies are honest, and the cost of having your car repaired can vary widely depending on which company you choose. Find out which companies your insurance will allow you to use and then call around for quotes. You could easily save yourself hundreds of dollars just by making a few quick calls.
3. Buy Used Replacement Parts
If your car is not too old, not brand new and not uncommon, you can probably find the replacement parts you need used online or in a junk yard. Used replacement parts usually work just as well as new parts, but they cost a fraction of the price.
4. Get Informed
It is in your best interest to know exactly what your insurance policy covers so you are properly compensated for your repair and medical bills. If you feel like your insurance company is attempting to withhold the money it owes you, a car accident lawyer Monroe residents trust can help you get the money you deserve.
5. Always Report an Accident
While it may be tempting to neglect to report a minor accident to an insurance company for fear of your rates going up, it is not a wise move. If the other driver ends up suing you later, your insurance company will likely refuse to cover you and you will be stuck paying all of the other driver’s expenses as well as your own.
While automobile accidents are never pleasant or convenient, they are sometimes unavoidable. Even the best drivers get into accidents sometimes through no fault of their own. Use these five money-saving tips to turn a potentially expensive situation into only a minor annoyance.
This guest post was written by Rianne Hunter. Rianne is a wife, mother of three, and avid blogger regarding all things family, finance, and health.
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