Climate change is controversial, but we do know one thing; the weather this past year has been bizarre. A mix of strange conditions and big storms contributed to challenging driving conditions all winter, and we’ve been subject to high winds and tornado watches this spring. If you have been in a car accident recently, knowing how your insurance works can save you money.

How car insurance works after an accident

Car insurance protects you from incurring financial damage. When an accident happens, insurance companies evaluate a claim and use fair market prices to determine an appropriate payout. Fox 17 Nashville reports that when claims are paid, they are generally paid without restriction. The money you receive becomes your property, and you are able to use it as you see fit.

The benefit to you is that you may be able to find replacement parts for far less than the fair market price valuation. While there may be mitigating circumstances (for leased vehicles or newer cars), you generally have the right to choose who will perform repairs. For do it yourself fixes, sourcing parts from a local junkyard can save you a fortune.

The one thing you can’t do, however, is submit a fraudulent claim. While finding alternative repair shops or sourcing parts from a junkyard can mean that your payout actually benefits you, claiming damages that weren’t incurred during an accident can leave you vulnerable to legal action for insurance fraud.

Knowing your policies can save you money

Knowledge is power; the more you know about your insurance policies and lease or buying agreements, the more able you are to make an informed decision. Knowing the requirements can save you money in the long run.

Legal contracts like insurance policies and purchase agreements can be dense and complicated. The jargon can be difficult to understand, especially after a serious accident. If you have questions or concerns about your rights, professional legal counsel can be invaluable.

The experienced Tennessee car accident attorneys at Rocky McElhaney Law Firm handle complex insurance liability claims all the time. Our team works with you to evaluate your case, protect your rights, and get you the compensation you deserve. If you have questions, or have recently been in a car accident, contact us today for a free consultation. We have offices in Nashville, Gallatin and Knoxville, so we’re always close by when you need us the most.