Uninsured loss recovery is a concept that not many people are aware of. It generally pertains to the practice of recovering expenses after an accident, a process of which can be carried out by the driver, so long as they have proper legal knowledge and resources. Oftentimes, however, this is a feature offered by some insurance policies. This helps policyholders prevent unwarranted expenses, especially when a vehicular accident is not by their doing.
An uninsured loss recovery can be purchased alongside a vehicle insurance policy, where you’ll need to pay an additional premium. Seeing as car insurance is relatively affordable, consider investing in uninsured loss recovery. This way, you’ll be able to deal with unexpected expenses, especially those not covered by the standard policies.
To help you fully understand just how important an uninsured loss recovery can be, here is a quick guide to follow. We talk about whys, along with the benefits surrounding the policy. Let’s start.
Why do you need an uninsured loss recovery?
Getting involved in an accident that isn’t your fault allows you to claim money from your insurance or the other party’s insurance to pay for the damages to your car. Upon claiming on your own policy, your insurer may retrieve money from the other party’s insurance company. However, insurance policies may not cover all damages and can result in some losses. You might need an uninsured loss recovery especially because of the following conditions:
1 – Loss of earnings
Getting involved in an accident can cause you to lose your source of income, such as if you don’t get sick pay. It can also cause you to miss some work opportunities such as important interviews or promotions. Losing your earnings for a while can severely affect your financial situation, but an uninsured loss recovery can help you mitigate your losses.
2 – You need extra money to cover medical expenses
Following a car accident, expect to be subjected to various medical examinations. While your car insurance policy may cover some of your medical expenses, understand that specialised treatment will come out of your pocket unless the offending has offered to pay for your recovery. Physical therapy can be costly, and without an uninsured loss recovery by your side, you’ll be forced to use up your savings.
What else can you enjoy from an uninsured recovery loss?
Additional comfort and peace of mind
Uninsured loss recovery not only offers you financial benefits but also assures you that professionals are handling your claims for you. This takes away at least some of the stress of getting your money back. You can then focus less on your financial losses and more on your recovery.
Your insurance may not always cover everything. Making car insurance claims after an accident, for example, can still make you pay for some expenses out of pocket because the insurance policy does not ensure that everything will be paid for. Uninsured loss recovery can thus help you by covering these expenses, provided that the accident wasn’t your fault.
Enlist the Help of an Accident Management Service
No matter how careful you may be on the road, the unpredictable always happens. Reckless drivers are run rampant, and in the worse case scenarios, you end up being entangled in accidents they cause. Car insurance policies exist, but knowing that you’re well protected by other premium insurance policies grants you peace of mind.
If you need help with uninsured loss recovery or car accident injury claims, Accident Management Company is ready to help. We’re one of the largest and most respected accident management companies in the UK, ensuring that you have proper aid in the aftermath of vehicle accidents. Allow us to help you recover losses—reach out to us today.