Road Traffic Accidents are not predictable and can result in damages and other losses. Accident Management Companies play an important role in handling and managing the effects, after an accident allowing individuals to focus on recovery of injuries, without having any stress of injury claims, vehicle repairs, and losses.
What is an Accident Management Company?
An accident management company provides guidance and support after an accident and also provides services for hire storage and property damages. These companies manage the whole claim process from the initial consultation of the accident to the repair of your vehicle and injuries.
Accident Management Companies handle claims simply, manage multiple claims, reduce downtime, have no upfront charges, and provide replacement vehicles to the individual.
Role of An Accident Management Company
Accident management companies play an important role in handling and managing claims and legal matters. The accident management companies handle every step of your claims from repairs to settlement.
- Report An Accident: After an accident, we need to contact the accident management company and provide all the details of the accident.
- Accidental Vehicle Recovery: The company acting on your behalf arranges for your vehicle recovery and takes it to the approved garages for repairs.
- Replacement/Hire Vehicle: The accident management company will provide you with a replacement vehicle within 24 hours while your vehicle is repaired.
- Claims Management: They speak to insurance companies of the involved parties, and manage the claims process for both the vehicle damages and any personal injuries.
- Legal Assistance: Accident management companies also assist guide with any legal claims, ensuring and making sure at all costs and damages are recovered from the faulty party.
Accident management company is regulated by the Financial Conduct Authority (FCA). They make sure that they operate in a legal and professional, way when managing claims and coordinating with insurers. An accident management company follows the Compensation Law 2006 and the laws to protect the claimants.
Benefits of An Accident Management Company
The benefits of choosing an accident management company include:
- Protected claims bonus
- No excess to insurance
- Like to like replacement vehicle
- Avoid your insurance premium
- Professional support and guidance
- 24/7 customer support
- Regular updates as the claim progresses
- Why not choose your insurance to process a Claim
- Increase in Insurance Premium
- Effect on no-claims bonus
- Insurance Excess fee
They don’t file a claim against your insurance policy after a non-fault accident and you have to pay no Excess fee while making a claim.
Accident Management Company Vs Insurance Company
We can compare the services of an accident management company with an insurance company.
Replacement Vehicle
The accident management company will provide you with a like-to-like vehicle according to your requirements while your insurance will provide you with a standard vehicle if mentioned in your policy.
Claims Bonus
If you contact an accident management company to file a claim your claim bonus will not be affected. In case if you speak to your insurance company about the accident it will affect your claims bonus.
Claim Handling
Accident management companies deal with all the overheads of the claim like accident reporting, vehicle recovery, storage, hire vehicle, claim handling, and end-to-end services. While with your insurance you will have to deal with recovery, storage, and other claim overheads.
Protection of Financial Risks
An Accident management company will handle all the claims and will recover the losses. They will take care of every detail like vehicle damages, recovery, or any other legal claims.
If your car is out of action, you’ll need alternative transport. Many accident management companies provide replacement vehicles that match the standard of your own, so you won’t be left without wheels.
Personal Injury Claims
If you’ve been injured in the accident, the company can help you pursue a personal injury claim. They work to ensure that you receive the appropriate compensation for any physical and psychological trauma.
Process Of Accident Management Companies
The process starts when you contact the company whether you are a driver or passenger and provide them with the details of the accident and evidence.
They will call you to confirm detailed information about the accident. They will instruct the engineers for vehicle repairs according to the standards. These accident management companies manage this process from claim submission to settlement, coordinating with various service providers and insurance companies. These companies deal with a No Win No Fee basis, meaning claimants do not have to pay any upfront or legal fee.
Benefits of No Win No Fee
No win and no fee is an agreement between a solicitor and his client, that they will not pay any fee if they lose the claim. If they win the claim the solicitor fee and other expenses will be paid by the faulty party.
- No Upfront Fee
- No Financial Risks
- Expert Legal Support & Guidance
- Secure Compensation
- Regulated by FCA
How to Choose A reliable Accident Management Company In the UK
Accident Management Company is regulated by FCA.
Contact companies who have experience in personal injury claims and vehicle repairs.
Check client reviews on the company websites.
They provide services for vehicle repairs, replacement vehicles, storage and recovery, and personal injury.
You do not have to pay any fee to the accident management company. It’s No win No fee.
Accident management companies manage comprehensive claims management, handling insurance claims on their client’s instructions. The claimants can rely on accident management companies to simplify the process and settle the claim.
An Accident management company handles insurance claims.
- Communicating with Insurers: These companies communicate with insurance providers to negotiate and settle claims.
- Paperwork Management: They keep a record of evidence and handle all necessary documentation.
- Legal Support: If the faulty party disputes liability they will provide legal support.
- Repairs & Replacement Vehicles: They arrange repair from their approved garages and provide a replacement vehicle within 24 hours.
- Uninsured Loss: They make sure that they recover all losses, expenses, insurance excess, and other payments.
