After an accident, you will want to file an insurance claim\nwith your insurance company, or the responsible party\u2019s insurance company, to\nbe compensated for any expenses you incurred. Your claim is the first step\ntoward recovering any costs directly caused by your accident. Expenses such as\nmedical bills, lost wages, or property damage can all be reimbursed by filing\nan insurance claim. <\/p>\n\n\n\n
Let\u2019s take a look at the differences between first-party and\nthird-party claims and how they affect your insurance after an accident. <\/p>\n\n\n\n
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A\nfirst-party claim is one you file with your own insurance company<\/a>. In\nthese cases, the claims are contingent on the language of the insurance policy.\nYou might file a first-party claim if your home is damaged in a flood or if\nyour vehicle is vandalized. In these cases, you will make a claim with your\ninsurance company to cover the cost of repairing your home or car. The\ninsurance company will then compensate you in accordance with your purchased\ninsurance policy. <\/p>\n\n\n\n <\/p>\n\n\n\n A third-party claim is a claim that is filed with the\ninsurance provider of another person or business. If you have been in a car\naccident caused by another driver, the claim you filed with their insurance\ncompany is a third-party claim. Typically, insurance holders will have coverage\nfor third parties who have been harmed as a result of their negligence. <\/p>\n\n\n\n <\/p>\n\n\n\n The type of claim filed depends on who is at fault in a\ngiven accident. For example, if you are at fault for a car accident, you will\nhave to file an insurance claim with your own provider to cover the damage done\nto your vehicle. However, if the other driver is at fault, you should file a\nclaim with their insurance provider in order to receive compensation for the\ndamage to your vehicle as well as for any medical expenses you might have\nincurred. <\/p>\n\n\n\n <\/p>\n\n\n\n Depending on the circumstances surrounding an accident, filing\nan insurance claim may impact your insurance rates<\/a>. If\nan accident is determined to be your fault, then you almost guarantee a spike\nin your insurance rates. However, in the event that a flood caused by a\nhurricane damages your home, filing a first-party insurance claim is unlikely\nto raise your rates. <\/p>\n\n\n\n <\/p>\n\n\n\n Filing insurance claims can be complicated, especially in situations where blame cannot be placed solely on either party involved in the accident. A knowledgeable personal injury lawyer<\/a> can provide additional information, so please get in touch with the Kreizer Law Firm to schedule a no-cost case evaluation. <\/p>\n\n\n\nThird Party Claim<\/h2>\n\n\n\n
When should you use each claim?<\/h2>\n\n\n\n
How does each claim affect my insurance?<\/h2>\n\n\n\n
Seek help from a knowledgeable New York and New Jersey trial attorney<\/h2>\n\n\n\n