Introduction

Being a victim of a hit and run is a frustrating and potentially dangerous situation. Understanding your insurance coverage is crucial in navigating this challenging scenario. If you have liability insurance, it will cover the other party, but your own insurance rates will likely increase. In this article, we will explore your options for handling such incidents and the various types of coverage available.

Will My Insurance Handle a Hit and Run?

Yes, if you have the proper coverage—specifically liability insurance—your insurance company will handle the claims made by the other party. However, you may not receive compensation for any damage to your own vehicle. This is a common oversight, and insurance companies often raise your premiums after such incidents.

Liability Insurance vs. Other Coverage Types

Liability insurance is designed to cover your legal responsibility for damage you cause to another person or their property. Here's how it works:

Property Damage (PD) Coverage: This covers damage to the other driver's property. For most hit and run scenarios, this is the relevant coverage, but it barely covers your own car
Bodily Injury (BI) Coverage: This covers medical expenses, lost wages, and other related costs if the accident involves injuries.

Unfortunately, liability insurance does not cover damage to your own vehicle. If you don't have collision coverage and uninsured motorist coverage, you are responsible for any damages to your car.

Uninsured Motorist Coverage

Uninsured motorist (UM) coverage can provide financial security if the hit-and-run driver is underinsured or uninsured. Here are some key points to understand:

UM coverage extends to you and your passengers in the event of a hit and run accident. If you have UM property damage (PDM) coverage, it may help cover damages to your car in a hit and run scenario. However, UM/PDM coverage is limited and may not cover all of the repairs or damages to your vehicle.

It is essential to ensure that you have both UM and PDM coverage to protect yourself more comprehensively.

What to Do After a Hit and Run

Here are the steps you should take after a hit and run accident:

Check for any witnesses or traffic camera footage that can help identify the hit-and-run driver. Contact the police immediately and file a report. This is crucial for any legal actions you may take in the future. Notify your insurance company about the accident. They can help with the claims process and providing you with the necessary steps to file a claim. Document all damages to your vehicle and keep records of all communications with your insurance company and the police.

Legal Consequences for the Hit and Run Driver

The person involved in the hit and run can face severe legal consequences:

Arrest and Criminal Charges: Depending on the severity of the accident and damage, the hit and run driver can be arrested and charged with vehicular assault, hit and run offenses, or even more serious crimes such as manslaughter or assault. Loss of Driver's License: A hit and run can lead to the suspension or revocation of the driver's license. Court Trials and Jails: The hit and run driver may face civil and criminal trials which can result in fines or even jail time.

Even if the driver is not caught, there are legal actions you can take to pursue compensation for your damages.

Getting Help from an Insurance Agent

Working with an insurance agent can provide you with answers and guidance tailored to your specific situation. An agent can help you understand your coverage better and ensure you have the necessary protection.

Conclusion

A hit and run accident can be a stressful experience, but understanding your insurance coverage can help you navigate the situation more effectively. Be proactive in documenting evidence, notifying authorities, and consulting with your insurance agent to ensure you receive the best possible assistance and compensation.