Massachusetts Auto Insurance FAQs:
One of the most important, yet most complicated, things you need to do after a car accident is file your auto insurance claim. While you will most likely want to work with one of our settlement attorneys to make certain you get the best possible result, it is vital to have information on your side. Therefore, we’ve put together a list of frequently asked questions to help guide you through the process of filing a claim in Massachusetts.
The process is slightly different from case to case. If the car cannot be driven, it will be taken by tow truck to a shop to have the cost of work estimated. Assuming all parties are in agreement, the repair job will then begin.
What does it mean when my vehicle is declared a “total loss?”
A total loss of value is what is meant when a car is considered “totaled.” If the vehicle would cost more to repair than it would be worth, it is written off as a total loss.
What is “Actual Cash Value?”
Actual cash value is an amount that would be in line with what you might expect to receive for the vehicle from a dealer or private buyer. It takes into account things like age and condition of the vehicle.
Will I need to complete any reports as a result of my accident?
Generally, you will need to make sure as an operator that you file an accident report regarding your accident. Additionally, once you speak with your insurer and lawyer, there may be additional paperwork or reports that are necessary. It is always in your best interest to complete these reports as soon as possible.
What is a Deductible?
Assuming you are at fault, most insurance policies have an amount that you will need first to pay out of pocket before the policy begins covering the losses. This means that if you have a minor accident, it might not make sense to file for insurance to cover the incident. For larger accidents, you will first pay the deductible amount, and then the remainder will be paid by insurance. If you are not at fault, your own insurer should waive the deductible).
What is Bailment?
Bailment occurs when the legal transfer of possession of property occurs, but not transfer of ownership. This would occur if someone borrowed your vehicle or a parking attendant, for example, was driving your car for an agreed upon purpose. It is important to understand bailment to determine who is at fault, and who’s insurance would be responsible for a claim.
Still have questions about Massachusetts Auto Insurance?
Every case is different, so you will likely have a few unique questions. Why not give us a call or contact us online for more information? Peter Ventura can work to guide you through the insurance claim process and do everything possible to make sure you get the settlement you deserve. We look forward to hearing from you!