Reader’s Question:

My car here in Colorado got wrecked in an accident, my question is can I file an auto insurance claim against the other party’s car insurance company or am I only allowed to file with my carrier?

Nguyen

Arvada, CO

You have two options since you are allowed to file a claim to either your auto insurance carrier or you can opt to file the claim for whatever damages and injuries you sustain to the other party’s carrier. Filing an auto insurance claim with another insurance company is termed as a “Third-party” claim. Before you do so, it is important that you speak to a knowledgeable insurance agent or contact Colorado’s insurance regulations department about specific laws and information regarding a third-party claim since most state have different laws regarding this.

Unlike a “First-party” claim which is filing the claim with your own carrier, submitting an auto insurance claim with a third-party carrier may not be as easy. First, their obligation focuses first on their own policyholder. So be prepared to provide all the necessary information and itemization of the damages that your vehicle has incurred. Be prepared for a call from the other party’s carrier as well to verify all the information you provided.

Auto accident insurance claims are tricky, and the other carrier would want to settle as soon as possible, they would also want to settle with paying you with the least amount of money as possible so stand your ground. If you feel that you are not being compensated properly you may opt to negotiate the settlement or, if push comes to shove, take legal action.