Should I Use My Own Insurance Policy After an Accident?

No one enjoys dealing with insurance companies, so many car accident victims are surprised to learn that it can be beneficial to use their own insurance policies after a car accident. This advice is especially surprising when the accident isn’t your fault.

Why Use Your Own Insurance in a Car Accident Case?

It’s natural to want to go after the at-fault party and make them pay for your property damage, medical bills, lost wages, and other expenses.

However, several situations could delay your settlement offer or cause you to accept less than what your case is worth from the other party. If you have an insurance policy that includes uninsured motorist coverage, you might find that you can get paid faster and receive a larger settlement check if you use your own insurance.

Will Using Your Own Insurance Raise Your Premiums?

One of the biggest concerns about filing a claim with your own insurance company is the possibility of having your premiums go up. It’s natural to be concerned about this because insurance is expensive in Oklahoma, and a premium increase of just a few dollars could cost thousands over your lifetime. 

However, because you are filing a non-fault claim, your insurance company will not raise your rates. In fact, No. Section 941 of the Oklahoma Insurance Code stipulates that your rate premiums cannot go up if you are involved in a car crash that wasn’t your fault.

In short, you’re already paying significant monthly premiums for car insurance. Why not get the full benefit of insurance by filing a claim to protect your physical and financial interests?

4 Reasons to Use Your Insurance Policy After an Accident 

Despite the logic of using your own insurance company to get paid after an accident, some accident victims still express hesitation to move forward with a claim. Consider these five benefits of using your own insurance: 

  1. Get paid sooner. Don’t be surprised if the other insurance company drags its feet on writing a settlement check. If you are experiencing cash flow issues because you’re unable to work, or your medical bills are piling up, getting an influx from your insurance company can relieve significant stress.
  2. Get paid if the other driver doesn’t have insurance. According to the Insurance Information Institute, 13.4% of drivers were uninsured in 2019, and that number is likely higher today.

    If the other driver doesn’t have insurance, attacking their personal assets can take years, and you might never see the money you’re owed. However, your insurance company can pitch in up to your coverage limits.
  3. Receive additional compensation. If the other driver doesn’t have enough coverage to pay for your expenses, your insurance policy can cover the difference.
  4. Get additional coverage for medical expenses. If you have MedPay coverage, you can use it for medical bills, even if you were not driving (i.e., you were riding a bike), or you were at fault for the accident.

Remember, even if you did not cause or contribute to the accident, you must still contact your insurance company to report the incident. 

Next Steps: Contact an Experienced Oklahoma Car Accident Attorney Today

Even if you use your insurance policy, you will still want to seek compensation from the at-fault party’s insurance company for any car accident cases. The key is to investigate and tap into all of the available insurance resources available to you to pursue maximum compensation for your damages.

For further assistance regarding car accident insurance claims, call our attorneys at 405.358.2342 or contact the law office of Bryan Garrett, PLLC, online to schedule a free consultation.

Bryan Garrett PLLC

Bryan Garrett has been dedicated to personal injury law for over 15 years in Oklahoma City. He has achieved excellent results for countless clients, whether through settlement or litigation.

All author posts