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Bet you German mastermind and inventor of the first working car, Karl Benz, never fully imagine where life-transforming his brainchild would take part in the accident.
Although there are various opinions about who really thought about auto insurance, there is evidence that it was Herbert Stanley Morrison who was responsible for the federal government to require every driver to have insurance that would protect them from the associated liability risks .
Despite the obvious great benefit to have auto insurance, every driver is aware of the arrival of the application of many occupational requirements: a second peak in coverage price!
It is for this reason that many people consider settlement of the arrangement between the drivers in the collision. If you are the one to blame in an accident and you have a history of damages that name you as guilty, it may be wise to opt for this type of settlement. Before deciding that, however, it is advisable to view some information.
Disclaimer: Before agreeing to any private settlement, always exchange insurance information so that if you decide to opt out of the plan, you have necessary information to be shared with insurance companies.
When Settlement sense
If you are the one who caused the accident
• Make sure to get an honest assessment mechanic for repair. Will auto repair costs less or a little more than your insurance deductible? If so, it is wise to pay out of pocket for damages.
• Is the driver stranger? Can you trust him to be honest in relation to prove the damage and the valuation? Only agree to the settlement if you understand you are not being “taken for a ride ‘; that damages the car are those accidents caused and that you are not asked to pay for unauthorized charges.
• Make sure that no one has been injured. Remember that medical costs can and often no more than the cost of your expectations. Moreover, if the other party is unscrupulous, he or she can bill you for phony health problems, adding thousands of unnecessary dollars to your account .
If you are a victim of the accident:
• is the at-fault driver someone you know? If he is a stranger, may be taking risks, trusting him to make payments on your loss.
• If you have been injured, medical bills could very well over the amount of the other driver is willing or can afford to pay.
• Establish that you will be the one to choose a mechanic to make repairs. Do not trust any contract based on the tender of the driver to make self-fixing or repair shop of his choice.
• Refuse all cash deal settlement before getting a thorough assessment of the true losses.
• Deny any settlement if the at-fault driver does not respond immediately to attempts to contact him.
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Source by M Wyzanski