Information about car, auto, motor and lorry insurance
An accident : we all want to avoid it, but what if you get into an accident and your vehicle is damaged or worse : you are badly hurt ? Damage to your own vehicle and (if it is your fault) the damage to other vehicles, medical expenses, possible legal expenses etc. Payouts of money to cover those expenses depend on your insurance policy terms and also your possible deductibles. First expenses like emergency treatment is usually paid directly to the hospital by your insurance company. Accident payouts regadering your total loss vehicle usually takes place within 30 until 60 days after the accident, depending on your policy. Loss of wages and possible permanent psychological or bodily harm will take much longer because you probable have to be reviewed by a number of doctors on behalf of your own or some else’s insurance company and a definitive end stage has to be reached.
Accident Payouts
An accident is an unexpected, unforeseen event not under the control of the insured and resulting in a loss. The insured cannot purposefully cause the loss to happen; the loss must be due to pure chance according to the odds of the laws of probability. For example, under a PERSONAL AUTOMOBILE POLICY (PAP) if an accident occurs, the insured is covered for loss due to his/her negligent act or omissions resulting in bodily injury or property damage to another party.
ACCIDENT INSURANCE coverage for bodily injury and/or death resulting from accidental means (other
than natural causes). For example, an insured is critically injured in an accident. Accident insurance
can provide income and/or a death benefit if death ensues.
What you need to know about Accident Payouts
