Parking Lot Car Accident and What You Need to Know About Insurance. What You Need To Know About Insurance. If there is a car accident in the parking lot. This article tells you what to do and what not to follow a parking lot car accident so that you don’t break the law and can protect your finances.
You need to know that, one out of every five accidents, there is a parking lot. Although most of them are minor ‘fender bender’ types, many drivers don’t know how to handle the situation. Should I report it to the police? Should I inform my insurer? Several questions crop up following parking lot accidents. The fact that a parking lot is private property and a unique set of right-of-way guidelines govern it differentiates it from other types of car accidents. Here are four insurance-related issues to consider in case of a parking lot accident.
Insurance Cover
Since parking lots fall under the category of private property, accidents that occur in such spots come under the preview of a special type of insurance policy – collision insurance. Whether you are guilty or not, this policy does not address whether you are wrong or not, but it will protect you in both cases.
And when it is proven that you are guilty, your car insurance company will pay compensation for your actions. If you are not at fault, you may file a claim seeking reimbursement for repairing costs. However, before your insurance company makes a payment, they can investigate what happened, and this will help determine the truth of the matter. The compensation depends on their findings.
Determination of Fault
There is a set of rules to determine who is at fault when an accident occurs in a parking lot. Some of the rules are universal. This is just an example, suppose hit someone else's vehicle from behind, then you are at fault. Several rules apply uniquely to the parking lot scenarios. For example, you are at fault when you overlook a ‘stop’ sign and strike another car from the back, or violate the right of way guidelines for the cars who entered the wrong path. Besides, if you hit a pedestrian from behind, then you are also at fault.
Car Insurance Premium
You will have to pay a higher premium if your car insurance providers find you at fault in a parking lot accident. However, you can bypass this rate hike if your policy includes an accident forgiveness clause and if that applies to the particular accident. It’s important to note that the legal ramifications of any accident are the same regardless of where it took place – in a public place or a private area. If you drive under the influence and cause an accident, then you receive a DUI fee. You may also get deducted points for your license.
Hit-and-Run Accidents
Many accidents happen even though your car is parked. For example, another driver may hit it or someone accidentally opens the car door and hits your vehicle, causing damage. If this happens without your knowledge, then your insurance company will likely consider this a hit-and-run case. In such situations, you will get reimbursement under the collision coverage. On the other hand, if it turns out that you are at fault in the accident, you may get a rate increase on your premium.
In case you are at fault and don’t have collision coverage, you will have to bear the expense of repairing the damage. You will have to pay a deductible to cover the expense. Even so, you must still notify the authorities, about the incident, and also make a true report.
