Financial Planning Don’t Let a Fender Bender Break the Bank Read the Article Open Share Drawer Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)Click to share on Tumblr (Opens in new window)Click to share on Pinterest (Opens in new window)Click to share on LinkedIn (Opens in new window) Written by Mint.com Published Feb 23, 2015 2 min read Advertising Disclosure The views expressed on this blog are those of the bloggers, and not necessarily those of Intuit. Third-party blogger may have received compensation for their time and services. Click here to read full disclosure on third-party bloggers. This blog does not provide legal, financial, accounting or tax advice. The content on this blog is "as is" and carries no warranties. Intuit does not warrant or guarantee the accuracy, reliability, and completeness of the content on this blog. After 20 days, comments are closed on posts. Intuit may, but has no obligation to, monitor comments. Comments that include profanity or abusive language will not be posted. Click here to read full Terms of Service. According to the National Highway Traffic Safety Administration (NHTSA) there were more than 5.6 million police-reported crashes in the U.S. in 2013. No doubt these crashes can take a huge emotional and financial toll on those impacted – and you might be surprised to learn what your policy covers, and doesn’t cover. The price tag for those crashes: $871 billion in economic loss and societal harm in 2010 also according to the NHSTA. If you find yourself in an accident, it’s easy to feel frustrated, overwhelmed and scared. But there are a few things you can do to protect you and your money before and after an accident. Prevention Before an Accident Consider purchasing rental car coverage. This will pay for you to have a rental car for the time your car is in the shop being repaired. The coverage is inexpensive, but paying for a rental during a long repair can add up quickly. Many car insurance policies offer coverage that you may not know about, so make sure your auto insurance policy is up-to-date and provides the right amount of coverage for you and your vehicle. Many minor details can make a huge difference when you need to file a claim after a collision. Keep copies of your insurance policy and registration in your vehicle at all times. Steps to Take After an Accident Safety is paramount. Get you and all passengers to a safe spot and wait for help to arrive. Get everything documented as quickly as possible and share information with the other driver including make, model and license plate. You’ll also want to get the other person’s contact and car insurance information so the claims process will go much more smoothly. Take photos and gather witnesses. If you have a smartphone, it can be helpful to take photos of the damages, especially if you know you weren’t at fault and want to prove it. If you can find eyewitnesses and collect their contact information to give to the police and to your insurance company, that’s even better. You may see a rate hike on your monthly insurance premiums if you are found to be at fault. Keep in mind if you have been accident free for a long time, many carriers will forgive your first at-fault accident. If you are working with an independent agency like CoverHound, ask them to check all of their carrier partners for a better policy. Many carriers specialize in different risk profiles, so it’s possible another carrier they represent may have a better policy for you. Not all wrecks will result in a rate hike, but being proactive and working with your insurer is important after an accident. If you’re looking to get more from your provider, then you can switch insurers to take advantage of low rates. This article was written and sponsored by CoverHound, where you can compare car insurance rates in as little as 3 minutes. Previous Post Getting Oscar Ready Without Breaking Your Budget Next Post What You Don’t Know Can Cost You Written by Mint.com More from Mint.com Browse Related Articles Mint App News Intuit Credit Karma welcomes all Minters! Retirement 101 5 Things the SECURE 2.0 Act changes about retirement Home Buying 101 What Are Homeowners Association (HOA) Fees and What Do … Financial Planning What Are Tax Deductions and Credits? 20 Ways To Save on… Financial Planning What Is Income Tax and How Is It Calculated? Investing 101 The 15 Best Investments for 2023 Investing 101 How To Buy Stocks: A Beginner’s Guide Investing 101 What Is Real Estate Wholesaling? Life What Is A Brushing Scam? Financial Planning WTFinance: Annuities vs Life Insurance