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Get the right protection for your safety,
your property and your identity.

 

Beyond the sale price, insurance is one of the most important financial questions to consider before buying a new car.

 

Most states require individuals to purchase insurance coverage to drive legally. Auto insurance can be divided into two basic coverage areas: liability and property damage.

 

When shopping for auto insurance, premium quotations are a useful tool for comparison of different companies’ products. Two factors determine what you pay for auto insurance. The first factor is underwriting where insurance companies assess the risk associated with an applicant. The second factor is rating; the rating assigns a price based on what the insurer believes it will cost to assume the financial responsibility for the applicant’s potential claim.

 

With the joys of a new ride comes much responsibility – especially when the unexpected occurs.

 

In an automobile accident, you are concerned first about your safety and secondly about your vehicle. Likely, the last thing on your mind is protecting your identity. In fact, a recent NAIC survey suggests that after an accident, many Americans do not really know what information they should share with the other driver. State laws vary, but in most cases you need only provide your name and vehicle insurance information, which should include the name and phone number of your insurance provider. Sharing personal information such as your address and phone number may put your privacy and identity at risk. However, if another driver is unable to provide vehicle ownership and/or insurance information it is appropriate to ask for their phone number, address and driver's license number.

 

According to a recent NAIC survey:

Identity theft is one of the fastest-growing crimes in the United States. The Federal Trade Commission estimates nearly nine million consumers have their identities stolen each year, disrupting finances and damaging credit histories and reputation. Knowing what to share helps keep property and identities safe.

 

The survey also found consumers were unsure about other auto accident best practices. For example, nearly 20 percent of respondents believe the only reason to call police after an accident is if someone is injured. However, filing a police report can help facilitate the insurance claims process.

 

WreckCheck App for Smartphones

 

To take some of the guesswork out of a tense situation, NAIC developed WreckCheck™. This free mobile app for iPhone® and Android® smartphones outlines what to do immediately following an accident and walks users through a step-by-step process to create their own accident report. The app directs them to capture photos and helps document and share only what is necessary to file an insurance claim. Users can even email their completed reports to themselves and their insurance agents.


No smartphone? Download a printable accident checklist and other tips for staying calm, safe and smart on the road.