Accident management companies

When you are at fault for an accident, handling it directly through your insurance is effectively the only option available to you. However, when you are not at fault, handling your claim through your own insurer could affect your no claims bonus.

An Accident Management company will mitigate that risk by taking on the case for you, from the moment you report the accident right through to recovering repair and replacement costs from the at-fault party.

It is important to note that when you’ve had any accident it is still wise to report this to your insurer for information purposes only.

What do accident management companies do?

• Collect information and details of the accident

• Provide replacement vehicle as soon as possible

• Carry out a damage assessment on the vehicle, and on any personal injury you may have sustained too

• Arrange repairs to be made through the garage/provider of your choice

• Recover costs and deal with any legal fallout from the accident through the at-fault parties’ insurance provider

On the surface, it seems like a no-brainer to involve an Accident Management company to act on your behalf in the aftermath of an accident.

In reality, choosing the right company to act genuinely on your best interests has become more difficult amongst all the noise of a now extremely competitive industry.

Cons of choosing an accident management company

Although the benefits are clear to see and the appeal of not damaging your no-claims bonus, or avoiding the hassle of dealing with the aftermath of an accident yourself can be an attractive prospect; Accident Management companies have their pitfalls too.

Despite the costs of an accident being recovered in whole from the at-fault party, it’s not uncommon to be stung by a list of hidden costs charged to you by an Accident Management company and this is certainly something to watch out for.

Checking the terms and conditions of any agreement you make with an Accident Management company is crucial to ensuring you are not hit with extra charges further down the line.

There has been an emergence of Accident Management companies over the past 10 years or so and this makes picking a credible one all the more difficult.

Make sure you shop around, and don’t get sucked in by whoever has the loudest marketing. Do your research, and make sure experience and professionalism are top of your checklist when it comes to deciding on a particular company to handle your claim.

Should I use an accident management company?

In short, an Accident Management company can be a great way to eliminate the stress of dealing with the aftermath of an accident that wasn’t your fault.

It can cut out the need for insurance involvement and provides you with peace of mind that an experienced professional is acting on your behalf.

In addition to repairs to your vehicle and providing a temporary replacement, Accident Management companies can altogether make your post-accident experience more comfortable.

Nevertheless, the industry has become more and more saturated making it much more challenging to distinguish between those out to make a quick buck, and those genuinely looking to act on your best interest.