Just imagine that you have gotten some of the worst news you could possibly receive.
Your spouse/partner has been killed in a car accident. While dealing with all of the emotions and heartbreak of this news, you have to slog through this devastating circumstance and take care of yourself and your family in practical ways.
You will need to find the life insurance policy that was hopefully purchased to help continue to pay your bills. You will need make changes to bank accounts and other financial accounts. You will need to be able to access your auto insurance and home owner’s insurance policies and various legal documents.
Human beings prefer to deal with things they know about and have an affinity for, or have the education and learning to be successful. If you are like many couples, it seems one of you deals with the finances of your household and one of you wants nothing to do with all that! One of you loves it, or at least doesn’t mind dealing with these types of things, and one of you really hates it.
I would propose that you may want to rethink this in your relationship. Both people should be aware of all account passwords, login information, insurance policies (especially life insurance), your last will and other legal documents. Maybe you store this in a safe in your home or a safety deposit box at the bank. Many families utilize an password application that stores everything in one place electronically. Even if one of you makes most of the banking, investment, insurance, medical and other type of life decisions, both of you should know what is happening. Even if you have separate bank accounts, be sure you can access all accounts in the case of the death of the account holder.
I have dealt with insurance customers that have lost their spouse, and are completely clueless how to move forward with everything. They have no idea what is going on with their insurance, how to pay the bills, and even how to access sorely needed funds. It can be months and months of struggle, on top of dealing with the loss of their loved one.
A very stressful situation can be made SO MUCH EASIER if you will take a couple of minutes to have a discussion about your accounts and the access needed, just in case.
As the owner of an insurance agency, you can imagine I have been exposed to and assisted with many car accidents and car accident claims!
One of the top questions I’ve received is regarding a police report with an accident. Are you required to get a police report at the scene of the crime? If you don’t, how does that impact your insurance claim?
I’ve learned A LOT about the responsibility of the police and sheriff office’s that respond to the scene of a car accident. Here are a few of my observations.
If you are in an accident that has caused injury or death to anyone, such as a passenger in a vehicle, a pedestrian, or someone on a motorcycle or bike, you must obtain a police report. This is the law. If you are involved in a little fender-bender in a parking lot, with minimal damage and no injuries, you have the option to file an accident report with the police after the fact.
The biggest misconception I have found is that the officer that arrives on the scene is not there to determine who is at fault in the accident. Actually, they are there primarily to take down statements of those involved or witnesses at the scene. They will also note road and weather conditions, and note if any drivers appear to be impaired. The officer does not place blame or determine liability or fault. The insurance adjusters are tasked to determine these issues and what carrier will be responsible to pay for injuries and physical damage to vehicles and property involved.
If you are in an accident without injuries and with very limited property damage, here are a couple steps to keep in mind:
ALWAYS GET THE OTHER DRIVER(S) INSURANCE INFORMATION at the scene before you leave.
Take pictures and/or videos of the damage to your car and the other car(s) involved in the accident. If there is damage to other property, such as a guardrail, building, etc., document that damage as well.
Contact your insurance agent and find out the best way to take care of the damage to your vehicle.
Remember, you always have the option to have an officer come to the scene and file the report at the time of the accident.
Here are a couple of links that may assist you with further questions:
1.Kentucky law (KRS 189.635(4)) will provide you with additional details and requirements.
2. The Civilian Collision Report form can be found on the Kentucky State Police website.
