Road traffic accidents are unpredictable and can lead to damages and various losses. Accident management companies play a vital role in managing the aftermath, allowing individuals to focus on recovering from their injuries without the added stress of handling injury claims, vehicle repairs, and other losses
What is an Accident Management Company?
An accident management company provides guidance and support after an accident. They offer services such as hiring vehicles, storing them, and managing property damage claims. These companies oversee the entire claims process, from the initial consultation after the accident to repairing your vehicle and recovering any damages or injuries.
Accident management companies handle claims, manage multiple claims simultaneously, reduce downtime, operate with no upfront charges, and provide replacement vehicles to individuals in need.
Role of an Accident Management Company
Accident management companies are vital in managing and handling claims and legal matters. These companies take care of every step of your claim, from repairs to settlement.
.Report an Accident: After an accident, you must contact the accident management company and provide all relevant details.
.Vehicle Recovery: The company arranges for your vehicle to be recovered and taken to an approved garage for repairs.
.Replacement/Hire Vehicle: The accident management company will provide a replacement vehicle within 24 hours while your car is being repaired.
.Claims Management: They contact the insurance companies of the involved parties and manage the claims process for vehicle damages and personal injuries.
.Legal Assistance: Accident management companies also offer legal support, ensuring that all costs and damages are recovered from the responsible party.
Accident management companies are regulated by the Financial Conduct Authority (FCA), which ensures they operate legally and professionally when managing claims and working with insurers. These companies comply with the Compensation Law 2006 and other relevant laws to protect claimants.
Benefits of an Accident Management Company
The benefits of choosing an accident management company include:
- Protected claims bonus
- No excess to insurance
- Like-for-like replacement vehicle
- Avoidance of increased insurance premiums
- Professional support and guidance
- 24/7 customer support
- Regular updates on your claim’s progress
Why Not Choose Your Insurance to Process a Claim?
- Increase in Insurance Premium: Using your insurance company to handle a non-fault claim can lead to a premium increase.
- Effect on No-Claims Bonus: Reporting a non-fault claim to your insurer could affect your no-claims bonus.
- Insurance Excess Fee: You may be required to pay an excess fee.
When you go through an accident management company, you don’t need to file a claim against your insurance policy after a non-fault accident, and you won’t be required to pay an excess fee.
Accident Management Company vs. Insurance Company
Let’s compare the services of an accident management company with those of an insurance company:
- Replacement Vehicle: An accident management company will provide a like-for-like replacement vehicle according to your needs, while your insurance company will typically offer a standard car if it’s mentioned in your policy.
- Claims Bonus: If you contact an accident management company, your claims bonus will not be affected. However, your bonus could be impacted if you report the accident to your insurance company.
- Claim Handling: Accident management companies handle all aspects of the claim, including accident reporting, vehicle recovery, storage, hire vehicle coordination, and claim management from start to finish. In contrast, you may need to manage some of these elements with your insurance company.
- Protection of Financial Risks: An accident management company will oversee all claims and recover your losses, including vehicle damage, recovery costs, or legal claims.
If your car is out of action, you’ll need alternative transport. Many accident management companies provide replacement vehicles that match your car’s standard, so you’re not left without a vehicle.
Personal Injury Claims
Accident management companies can help you pursue a personal injury claim if you’ve been injured in an accident. They work to ensure you receive the appropriate compensation for any physical or psychological trauma you’ve endured.
Process of Accident Management Companies
The process begins when you contact the company, whether the driver or a passenger and provide details of the accident and evidence.
They will confirm the details of the accident and arrange for engineers to assess and repair your vehicle according to the required standards. Accident management companies handle the entire process, from claim submission to settlement, coordinating with service providers and insurers. These companies typically work on a No-Win, No-Fee basis, meaning claimants do not need to pay any upfront or legal fees.
Benefits of No Win No Fee
No Win, No Fee is an agreement between a solicitor and their client, where the client does not pay any fees if they lose the claim. If they win, the at-fault party pays the solicitor’s fees and other expenses.
- No Upfront Fees
- No Financial Risks
- Expert Legal Support & Guidance
- Secured Compensation
- Regulated by the FCA
How to Choose a Reliable Accident Management Company in the UK
When choosing an accident management company, consider the following:
- Ensure the company is regulated by the Financial Conduct Authority (FCA).
- Contact companies with experience in personal injury claims and vehicle repairs.
- Check client reviews on company websites.
- The company should provide vehicle repairs, replacement vehicles, storage and recovery, and personal injury claims.
- You should not have to pay any fees to the accident management company. It’s a No-Win, No-Fee arrangement.
Accident management companies handle comprehensive claims management, handling insurance claims according to their client’s instructions. Claimants can rely on these companies to simplify the process and ensure their claims are settled.
Key Services Provided by Accident Management Companies
Uninsured Losses: They recover all losses, including expenses, insurance excess, and other payments.
Communicating with Insurers: They negotiate with insurance providers to settle claims.
Paperwork Management: They handle all necessary documentation and evidence.
Legal Support: If the liable party disputes the claim, they provide legal assistance.
Repairs & Replacement Vehicles: They arrange repairs with approved garages and provide a replacement vehicle within 24 hours.
