10 things to do after an accident

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10 THINGS TO DO AFTER A CAR ACCIDENT

1. Assist those injured at the scene. If you have a phone call 911. Make the injured person as comfortable as possible and don’t move them unless necessary.

2. Call the police and insist on a police investigation. In many instances there are no witnesses and a police investigation assures stories don’t change.

3. In the past we would tell our clients, don’t move your car while waiting on the police and ask the other driver not to move his or her car. Due to congestion in the Puget Sound this is no longer a viable option since the authorities asked people to move their cars to the side of the road to minimize the impact on traffic. Today, most individuals have cell phones with cameras. Take advantage of technology and take some quick pictures (only if it is safe) and then move the cars.

4. Get the names, addresses, telephone numbers and email addresses of eyewitnesses before they leave.

5. If you are injured, tell the police officer because the first record of your injury will be the police report.

6. If you are injured, make sure you get medical treatment. Go to the nearest hospital emergency room or to your personal doctor. An untreated injury can get much worse and the failure to get treatment will cause insurance adjusters to get suspicious.

7. Report your accident and injury to your insurance company.

8. Do not give a statement to the insurance company for the other driver. Their interests are adverse to yours. You may hurt your claim without even knowing it.

9. Don’t sign any releases until you have had a chance to talk to a lawyer to make sure you know exactly what you are releasing.

10. Remember the time for making a claim is limited by law.

Nothing in this Blog should be considered legal advice or to form an attorney client relationship. The postings made are general in nature and nothing can substitute for the legal advice of a seasoned legal professional that is tailored to the facts of your case.

Check to See if You Really Need Private Mortgage Insurance (PMI)

PMI, otherwise known as private mortgage insurance, is protection to the bank in case you default. It is required when the starting equity in your home is less than 20% or if you have blemishes on your credit report. The cost of PMI is approximately $250.00 to $560.00 or more annually for every $100,000.00 borrowed on the mortgage. Many homeowners with conventional loans are paying costly PMI unnecessarily. This is most likely if you are pre-paying regularly on your mortgage; you have never calculated when you will be able to stop paying PMI; and you live in an area where property values have risen recently. Typically, lenders do not tell you when you are eligible to discontinue PMI. To determine if you are eligible to ask for elimination of PMI on your conventional loan, calculate your equity by figuring out your mortgage balance. You can get the exact balance of your mortgage from your lender. Subtract that number from today’s value of your home. You can probably use recent sales in your neighborhood as a benchmark, or, ask a realtor to give you an estimate of your home’s value. If you feel that the equity in your residence exceeds 20% of the present day value, you probably will not have to pay PMI. If that is the case, write your lender and ask to have PMI eliminated.

Homeowners Insurance and Children at College

Your homeowners insurance may not protect your children if they are away at college. This type of coverage varies from company to company. Most insurers will accept claims for up to 10% of the value of the family’s homeowners policy under off premises coverage, but many companies exclude students living in off-campus housing or staying at an off-campus apartment which are treated as a separate home requiring separate renter’s insurance. If your child is going to move away to college, make sure you read your homeowner’s insurance policy and raise this issue with your insurance agent to assure that any valuables will be covered